37. Building a Wellness Business That Lasts & Making a Living Doing What You Love - with Rick Stollmeyer of Mindbody

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 "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 mindbodyonline.com.

Resources:

mindbodyonline.com • LinkedIn: linkedin.com/in/rickstollmeyerGlobal Wellness Summit On DemandGWI's 2020 Research In Progress

Hosted by Kim Marshall

Produced by Crate Media