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Today I'm joined by Fritz Lanman, CEO of Mindbody. Mindbody's 20 years of product innovation, research, and thought leadership fueled the boom of the boutique wellness revolution and continue to foster the growth of the global wellness industry. Mindbody serves wellness professionals around the world who have dedicated their lives to bettering other lives, connecting them with millions of people seeking those transformative experiences. In this episode, Fritz talks about his experience running ClassPass, why the company was acquired by Mindbody, and his transition to the Chief Executive role. Plus, we cover wellness trends, the fitness industry's recovery, and more. In this episode, you'll learn: The pricing model that ClassPass' studio partners hated and hurt the company's bottom line How Fritz convinced studios, spas, and salons to integrate ClassPass and convinced outside investors of its potential Why in-person fitness experience is making a comeback and how Mindbody is capitalizing on its resurgence Links & Resources Subscribe to the Fitt Insider newsletter Visit the Fitt Insider jobs board View current Fitt Insider investment and get in touch Fritz' Links Mindbody's website Follow Mindbody on Twitter Mindbody is on Instagram Connect with Mindbody on Facebook Check out Mindbody on YouTube ClassPass' website Follow Fritz on Twitter Fritz' LinkedIn page Fitt Insider podcast #86: Josh McCarter, CEO of Mindbody Fitt Insider podcast #36: Fritz Lanman, CEO of ClassPass Fitt Insider podcast #11: Rick Stollmeyer, Co-founder and CEO of MINDBODY
Today, most SaaS companies were started in the last few years or at the beginning of Web 2.0. Our guest Rick Stollmeyer, Co-Founder and current Executive Chairman of Mindbody, however, saw an opportunity back in 2001, when he started the company out of his garage. In March, Mindbody saw 90% of their appointments disappear through the platform, which led the team to innovate and drive towards a virtual fitness platform. Fast forward to today, and they see this as their most significant growth opportunity. Hear more on Rick's story, including his leadership training in the Navy, the lesson he learned when his former boss refused to give him equity, his transition to Executive Chairman, and so much more on this episode of How I Grew This. Listen now on Apple Podcasts, Spotify, Google Podcasts, Stitcher, and more.
What do a garage, “The Hunt for Red October,” the seven pillars of wellness, and the hero's journey all have in common? You'll find out in this episode with Rick Stollmeyer, founder and Executive Chairman of Mindbody. Back in 2001, Rick bootstrapped the launch of Mindbody. 14 years later, he took the company public, raising $100M for an IPO. Then, in June 2020, the business was acquired for $1.9B. It’s an incredible entrepreneurial success story, and the Mindbody platform has had a huge impact on the industry over the last two decades. If you’re not familiar, Mindbody is both a cloud platform and an app. The cloud enables entrepreneurs all over the world in the fitness, wellness, and beauty space — businesses like ClassPass, Bikram Yoga, and the New York Health & Racquet Club — to run, market, and grow their businesses, and the app helps consumers easily find and engage with wellness businesses in their local communities or wherever they travel. Their cloud-based business management software powers over 60,000 fitness, spa, salon and wellness businesses in over 140 countries and their web and mobile booking tools help those businesses engage with more than 50 million people. In his new role as Executive Chairman of Mindbody, Rick says he is doubling down on giving back to the industry by coaching other entrepreneurs and getting more involved in thought leadership for the industry. In fact, Rick just published a book called https://www.amazon.com/Building-Wellness-Business-That-Lasts/dp/1119679060 ("Building a Wellness Business That Lasts: How to Make a Great Living Doing What You Love.") In this interview, you'll hear why he wants readers to learn from both the right and wrong decisions he's made over the years and why he's so positive about new business opportunities in the wellness space, even during the era of COVID-19. You'll also hear three crucial marketing steps that you need for success, whether you’re bootstrapping a new launch or preparing for a big IPO. To learn more, visit Mindbody at https://www.mindbodyonline.com/ (mindbodyonline.com). Resources: https://www.mindbodyonline.com/ (mindbodyonline.com) LinkedIn: https://www.linkedin.com/in/rickstollmeyer/ (linkedin.com/in/rickstollmeyer) https://www.globalwellnesssummit.com/2020-global-wellness-summit/summit-on-demand-anytime-anywhere/ (Global Wellness Summit On Demand) https://globalwellnessinstitute.org/industry-research/research-in-progress/ (GWI's 2020 Research In Progress) Hosted by https://www.swellpublicrelations.com (Kim Marshall) Produced by http://crate.media (Crate Media)
Today, most SaaS companies were started in the last few years or at the beginning of Web 2.0. Our guest Rick Stollmeyer, Co-Founder and current Executive Chairman of Mindbody, however, saw an opportunity back in 2001, when he started the company out of his garage. In March, Mindbody saw 90% of their appointments disappear through the platform, which led the team to innovate and drive towards a virtual fitness platform. Fast forward to today, and they see this as their most significant growth opportunity. Hear more on Rick’s story, including his leadership training in the Navy, the lesson he learned when his former boss refused to give him equity, his transition to Executive Chairman, and so much more on this episode of How I Grew This. Listen now on Apple Podcasts, Spotify, Google Podcasts, Stitcher, and more.
When COVID-19 was declared a pandemic, a lot of people looked to the Global Wellness Summit for hope and answers. So the GWS shifted their plans for this year, just like everyone else, and focused on providing information and advice to help people adjust to their “new normal.” One of the GWS initiatives was the #FiveInTen Leader Livecasts, hosted by Kim Marshall. We’ve been talking to wellness leaders from the worlds of fitness, beauty, the arts, technology — you name it — but there’s one thing that every guest has had in common: they’re inspiring examples of innovation and positivity during this time. Today, we want to share two of the conversations featured on livecasts. First is Jim Chenevey, CEO of Earthlite, a company dedicated to healing humanity through touch, and Living Earth Crafts, and spa equipment manufacturer. We’ll hear how they quickly shifted their manufacturing to meet the shifting demands of both medical providers, including how a doctor’s request helped them adapt a pregnancy pillow for massage tables into a life-saving tool for COVID-19 patients. For the second half of this episode, we’ll hear a conversation with Rick Stollmeyer, Co-Founder of Mindbody, a tech platform and app that enables wellness entrepreneurs worldwide to use the software to run, market, and grow their businesses. Then the rest of us can use the app to quickly find fitness, wellness, and beauty businesses in their communities or wherever they’re traveling. They led the way in helping the $100B fitness industry go virtual practically overnight, and it’s amazing to hear how they pulled it off. Resources: Earthlite: earthlite.com (https://www.earthlite.com/) Living Earth Crafts: livingearthcrafts.com (https://www.livingearthcrafts.com/) Mindbody: mindbodyonline.com (https://www.mindbodyonline.com/) Global Wellness Summit 2020 (https://www.globalwellnesssummit.com/) GWI's 2020 Research In Progress (https://globalwellnessinstitute.org/industry-research/research-in-progress/) Hosted by (https://www.swellpublicrelations.com) Produced by (http://crate.media)
Rick Stollmeyer, Founder and Executive Chair at Mindbody, discusses the importance of wellness amid the pandemic. He points out that the demand for wellness and fitness services continues to rise. Hosts: Carol Massar and Jason Kelly. Producer: Doni Holloway. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Rick Stollmeyer, Founder and Executive Chair at Mindbody, discusses the importance of wellness amid the pandemic. He points out that the demand for wellness and fitness services continues to rise. Hosts: Carol Massar and Jason Kelly. Producer: Doni Holloway.
Two decades of building a business at the nexus of technology and fitness have taught Rick Stollmeyer a lot, but nothing prepared him, or his customers for what the pandemic has wrought. He sees a world where a quarter of boutique studios go out of business, and also a population that values health and wellness more than ever. In a wide-ranging conversation with Jason Kelly, he talks about everything from Jane Fonda to Peloton to Maslow's Hierarchy of Needs and what all of that tells us about the way forward.
In this episode you’ll learn: • What Rick has been seeing lately during this exciting (and terrifying) times for the industry • Where he sees things 5 years from now • How to maximize the effectiveness of a digital studio during these times, and moving forward • Rick’s thoughts on the important relationships between employers, insurance companies and governments • The huge opportunities that exist for operators in our space and who he believes will ultimately succeed LINKS: https://www.instagram.com/studiogrowco https://www.boutiquefitnesscoalition.com/ https://www.facebook.com/groups/3312618912101211/ https://www.mindbodyonline.com/ https://www.instagram.com/mindbody/ https://www.facebook.com/mindbodyinc https://twitter.com/askmindbody https://www.youtube.com/MINDBODY https://www.linkedin.com/company/mindbody/ https://www.linkedin.com/in/rickstollmeyer
Rick Stollmeyer co-founded Mindbody in 2001 and is still the CEO 20 years later. This is his story as much it is Mindbody’s story; from his learnings as a nuclear submarine engineer, to selling CD ROM software from his garage with his co-founder Blake Beltram, to now scaling a multinational software company. Rick is one of the most passionate and deeply mission-driven CEOs you could ever have the pleasure of meeting. A high performer in every sense, motivated by solving complex problems through the power of collaboration - I think this could be my favourite interview of the entire podcast project. We talk about the Mindbody journey and its bootstrapped founding story, its growth to a venture capital-backed start-up and then a public company, right through to being taken private in 2018 by Vista Partners for Us$1.9 billion. This journey has had its ups and downs, triumphs, and challenges, all met with the same hunger he possesses today. Sit back and enjoy the reflections of one of the world's finest entrepreneurs This episode was recorded in the first week of March, well before the full impacts of Covid-19 in the US could have been imagined. The messages though are timeless. For those interested in further insights and commentary, follow @tdm_growth on twitter and get all the news and views there. You can always find me on twitter @eddiecowan. --- Send in a voice message: https://anchor.fm/tdm-growth-partners/message
Let's talk about the business of wellness… Rick Stollmeyer is an ex-US Navy Submarine Officer, who in 2001 co-founded MINDBODY in his garage. Today he serves as MINDBODY's CEO and principal visionary. A powerful cloud-based business management software servicing over 60,000 fitness, spa, salon and wellness businesses globally, MINDBODY allows their customers to engage with more than 50 million people in 100 countries, helping them to live healthier, happier lives. In this episode, Rick shares with us how his need for a purpose-driven and fulfilling career was formed in the navy, why an in-depth yoga workshop transformed his outlook on the wellness industry, and the importance of using your head, heart and gut to make business decisions. We also dive into the companies funding journey including the recent $1.9 billion sale to Vista Equity Partners, and what the future has in store for Rick. Do you want to stay ahead of the trends driving the growth of the $4.5 trillion wellness industry? Subscribe to this podcast and receive 10% off all Welltodo Trends Reports. Use code: PODCAST10 Thank you to our sponsors: The go-to legal firm supporting the wellness industry Bird & Bird. Software booking experts, MINDBODY. To find out how Welltodo can help you grow your business and support your career objectives, head to welltodoglobal.com today.
Today I’m joined by Rick Stollmeyer. Rick is the co-founder and CEO of MINDBODY. In today’s episode, I talked with Rick about the 20-year history of Mindbody. His take on the evolution of the wellness industry — including a growing opportunity in India and the future of boutique studios. And Rick's advice for entrepreneurs raising capital. I had a great time chatting with Rick and I hope you enjoy listening. More from Rick & MINDBODY >> Rick Stollmeyer co-founded MINDBODY in his garage in 2001. He serves as the company’s CEO and principle visionary, ensuring that everything MINDBODY undertakes—from product line to business development to team member enrichment—serves the company’s purpose to help people lead healthier, happier lives by connecting the world to wellness. In 2005, Rick transformed the industry when he migrated the company’s business management software to the cloud. Today, MINDBODY remains the leading software-as-a-service platform for the wellness services industry, streamlining business management for wellness practitioners and making it easier for them to do what they love—improve the lives of their customers. MINDBODY now powers fitness, wellness, and beauty businesses worldwide. Rick lives with his wife, Jill, near the company headquarters in San Luis Obispo, California. More from Fitt Insider >> Fitt Insider is a weekly newsletter and podcast about the business of fitness and wellness. From product launches and funding news to game-changing innovation, Fitt Insider provides listeners with insights and analysis on this ever-evolving industry. Join your peers and colleagues from companies like Equinox, lululemon, Peloton, Beyond Meat, Nike, and ClassPass by subscribing at http://insider.fitt.co.
In this week’s episode of Industry Change Richard speaks to CEO and Co-founder of global wellness platform MINDBODY, Rick Stollmeyer. From humble beginnings Rick started this company in the late 90’s, which aimed to provide fitness businesses’ with software to create change for their clients. Now, in 2019, MINDBODY is the largest platform in the … Continue reading How to stand out in the fitness industry with Rick Stollmeyer
Rick Stollmeyer co-founded MINDBODY in his garage in 2001, and today serves as the company’s CEO and principle visionary, ensuring that everything the company embraces – from product line to business development to team member enrichment – serves the company’s purpose: help people lead healthier, happier lives by connecting the world to wellness. In 2005, Rick led the industry when he took MINDBODY’s business management solution fully to the cloud. Today, the company remains the leading SaaS platform for the fitness, beauty and wellness industries, streamlining business management for wellness practitioners and making it easier for them to do what they love - improve the lives of their customers. Today, MINDBODY powers tens of thousands of wellness businesses worldwide, and connects hundreds of thousands of wellness practitioners with the tens of millions of people seeking healthier, happier lives around the world. Rick lives with his wife, Jill, near the company headquarters in San Luis Obispo, California.
Rick Stollmeyer co-founded MINDBODY in his garage in 2001. He raised over $100 million before leading the IPO for the company. Some or his investors include Bessemer Venture Partners, Institutional Venture Partners, or Catalyst Investors. The company was recently acquired by Vista Equity Partners in a $1.9 billion deal.
Rick Stollmeyer co-founded MINDBODY in his garage in 2001. He raised over $100 million before leading the IPO for the company. Some or his investors include Bessemer Venture Partners, Institutional Venture Partners, or Catalyst Investors. The company was recently acquired by Vista Equity Partners in a $1.9 billion deal.
Rick Stollmeyer discusses his insights on the critical metric of LTV:CAC in the relationship economy,driven by the recurring revenue model in his Afternoon Keynote at the Recurring Revenue Conference 2018
BLAKE BELTRAM is co-founder of MINDBODY, the largest provider of cloud-based business management software to the boutique, beauty, health and wellness industry. The publicly traded company serves clients in over 130 countries worldwide. (52:42) EPISODE NOTES: It’s been 20 years since BLAKE BELTRAM sat in my living room tinkering with a software program that he had recently created to help yoga and pilates studios manage their daily business. I should have paid more attention. Turns out, Blake’s nascent software was the seed that grew into a mighty oak called MINDBODY. The publicly traded company is now the largest provider of cloud-based business management software to the boutique beauty, health and wellness industry serving clients in over 130 countries worldwide. Headquartered in San Luis Obispo, MINDBODY was co-founded by high school friends Rick Stollmeyer and Blake Beltram. Many thanks to the Blue Dot Sessions for the music featured in this episode royalty free through Creative Commons licensing: 1. "The Zeppelin" - 2. "Cases to Rest" -
14 Minutes of SaaS - founder stories on business, tech and life
Rick Stollmeyer, is Co-Founder and CEO at MINDBODY. He started this in a garage in 2001. Way back then it was an app for boutique health & fitness businesses to manage the scheduling of their fitness classes. Now it's the largest
14 Minutes of SaaS - founder stories on business, tech and life
Rick Stollmeyer, is Co-Founder and CEO at MINDBODY. He started this in a garage in 2001. Way back then it was an app for boutique health & fitness businesses to manage the scheduling of their fitness classes. Now it’s the largest
Gretchen has a conversation with Mindbody CEO, Rick Stollmeyer, about how he started his wellness company - now valued at 1 billion dollars. Super inspiring episode for anyone looking to build a business from the ground up. Rick talks about how he started Mindbody in his garage and how he built his software without prior experience with his partner, Blake Beltram. He remembers personally driving up and down the West coast trying to sell his product to small businesses and how word of mouth marketing and referrals were key to their success. His emphasis on knowing the customer is huge! Rick discusses being forced to evolve, even when that meant to completely rebuild their software. He talks about standing up to huge competition that is massively funded when you're not and what it takes to beat them! Follow Rick on Twitter at @stollmeyer. Follow Nubry on Instagram @nubry.
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Rick co-founded MINDBODY, Inc in his garage in 2001, and today serves as their CEO and principal visionary. MINDBODY is leveraging technology to improve the wellness of people around the world. Their cloud based software powers over 60,000 wellness businesses in over 130 countries, and connects over 300,000 wellness practitioners with millions of people who are seeking to live healthier, happier lives. Here are the highlights of our conversation with our guest: Rick is passionate about helping people realize their dreams and live healthy, happy and productive lives. As CEO & Co-Founder, he emphasizes that the core values are the guiding light for MINDBODY. He spends a lot of time ensuring that they keep their values fresh. They also make sure that they evolve by understanding what is going on in the industry they serve. A day in the life of Rick involves direct leadership either with individuals or different teams in the company. They always need to be reminded on their ‘why’ so communication is essential. Their company doubles in size every year but the biggest hurdle for them to grow even more is their ability to deliver exceptional customer experience to every new customer that adapts their platform. Their transition to mobile was huge and the hardest part of all was having a giant set of database so they need to reengineer most of their codes so they could surface their functionality to any device. This is where majority of their energy was spent in when they transitioned over and was a hefty undertaking as they were servicing about 10k clients at this time. To allow them to customize and make changes, they are continuously studying and interacting with customers. This includes AB testing, usability studies and prototyping. Just like other great changes, they have experienced those which were triggered by a crisis. For them, there were two – that their was not a lot to their usability to be desired and, as far as going from waterfall to agile, was that the release built time were getting longer and longer due to the additional functionalities that they were adding. In dealing with culture change, they got connected with Jared Spool and they brought him into the organization for engagement and learning methodologies such as observational research which aligned perfectly with design thinking. Simultaneously, they sent themselves to school to learn how to be scrum masters and product owners to understand the different stakeholders in an agile scrum. This was adopted from CEO down to team members.
There's no better place to talk with the CEO of MINDBODY than at their own conference, BOLD. That's where we had the chance to sit down with Rick Stollmeyer to cover the latest fitness marketing trends and successes he's seen in the industry. As CEO of one of the top fitness softwares, Rick gives insight on the different marketing strategies that have gotten some of his studios and gyms the best results - and how you can too. -- Read the show: https://www.loudrumor.com/the-gsd-show/ Facebook: https://www.facebook.com/GSDshow/ Twitter: https://twitter.com/GSD_Show Instagram: https://www.instagram.com/gsd_show/
The Sages & Scientists Symposium presents a panel of experts led by Poonacha Machaiah, co-founder of Jiyo, in a discussion on how technology can improve wellness. Machaiah appears as a HumaGram, demonstratiing a new technology for participating in live events from remote locations. Other guests include James Mault, MD of Qualcomm Life, Paddy Barrett of Scripps Translational Science Institute, Paul Duffy of ARHT Media, Moira Burke of Facebook, Simon Leung of NetDragon, Sridhar Solur of Comcast, Rick Stollmeyer of Mindbody , Upasana Kamineni Konidela of Apollo Life, entrepreneur Jeffery Martin and Deepak Chopra, MD, of the Chopra Center and UC San Diego School of Medicine. Series: "Wellbeing " [Health and Medicine] [Business] [Show ID: 31529]
The Sages & Scientists Symposium presents a panel of experts led by Poonacha Machaiah, co-founder of Jiyo, in a discussion on how technology can improve wellness. Machaiah appears as a HumaGram, demonstratiing a new technology for participating in live events from remote locations. Other guests include James Mault, MD of Qualcomm Life, Paddy Barrett of Scripps Translational Science Institute, Paul Duffy of ARHT Media, Moira Burke of Facebook, Simon Leung of NetDragon, Sridhar Solur of Comcast, Rick Stollmeyer of Mindbody , Upasana Kamineni Konidela of Apollo Life, entrepreneur Jeffery Martin and Deepak Chopra, MD, of the Chopra Center and UC San Diego School of Medicine. Series: "Wellbeing " [Health and Medicine] [Business] [Show ID: 31529]
Rick Stollmeyer, the CEO and co-founder of MINDBODY and host Mark Sylvester had a fascinating discussion about wellness, building a business, why the Central Coast is so easy to attract people to and some background skills you might not imagine would be helpful to a major public SaaS company's leadership. Topics covered include: - How Mindbody became so focused on going onsite to understand their customers, early on. - Functional fitness and fitness trends - How health and wellness is a megatrend - What it's like to work at MINDBODY - practicing what they preach. ps. they're hiring - Recruiting locally - You've heard this one before, getting started in the garage - The MINDBODY origin story - from outer space to inner space - Learn about Rick's empathy for small businesses - The experience you get from working in high-impact software environments - How boutique fitness is transforming lives, and Mindbody's role in that ecosystem - How they came to their mission of Building the world's leading platform for wellness - How they help thousands of businesses manage their client - relationships - Regarding software development: "The product will never be done..." - Branching out from fitness and how their model expands How Design Thinking is woven into how they work - How to maintain empathy with your clients as you scale - Rick's background: Graduate degree in Nuclear Engineering from the US Naval Academy and worked at Vandenberg Air Force Base on satellites and studied Russian. Yes. Great story about why. - Learn the difference between nice to have and mission critical as it affects how you positioning the company - Regarding the Central Coast and the 805 region - why Mindbody sees their role in the ecosystem as important - Glassdoor and what that platform means to the Company and investors. Note: They are one of the top places to work in the country! - How the way you treat your team is your ultimate competitive advantage - What's the Holy Grail for Mindbody? Helping small businesses succeed in running their company and attracting more customers. Note: 50% have excess inventory, and 50% lose 50% of their clients a year The conversation was rich in detail and an excellent background for anyone that has dreams of growing a business from their garage to a publically traded international operation with more than 50,000 clients and millions of their customers using the Mindbody app every day. MINDBODY is a sponsor of the 805connect project and we want to thank Rick for their continued support.