Julie Rice — Co-Founding SoulCycle, Taming Anxiety, and Mastering Difficult Conversations (#372)
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“There is no elevator to success; you have to take the stairs.”
— Julie Rice
Julie Rice (@julierice_) is an entrepreneur best known for co-founding the fitness phenomenon SoulCycle. Julie served as Co-CEO at SoulCycle from 2006 to 2015 before joining WeWork in November 2017.
Julie’s life’s work has been about building community, and these days she brings that focus to her new role at WeWork. At WeWork, Julie is approaching everything through the lens of community—she is focusing on WeWork’s brand and the experience WeWork provides its members, and seeking new and innovative ways to grow and share the WeWork experience around the globe.
Julie lives in NYC with her husband Spencer and their two daughters, Phoebe and Parker. She is a board member of The Public Theater and Weight Watchers, as well as an advisor to the women’s club The Wing.
Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, Castbox, or on your favorite podcast platform.
[image error] [image error] [image error] #372: Julie Rice — Co-Founding SoulCycle, Taming Anxiety, and Mastering Difficult Conversations
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Want to hear another episode with someone who knows how to build an enticing atmosphere into a business model? — Listen to my interview with hospitality mogul Liz Lambert, in which she talks about balancing the desire to be an artist with the desire to be a business tycoon. (Stream below or right-click here to download):
#320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lamberthttps://rss.art19.com/episodes/85a66b23-4f0c-4531-9816-758b62d6b57c.mp3Download
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QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.
Scroll below for links and show notes…
SELECTED LINKS FROM THE EPISODE
Connect with Julie Rice:
SoulCycle
WeWork
Made By We
The Public Theater
Weight Watchers
The Wing
Galleria at White Plains
WME
Soho House
Harry’s Burritos
Starbucks
White Cube
Apple Store
University of Colorado, Boulder
ThinkHuman
Getting the Love You Want: A Guide for Couples by Harville Hendrix, PhD and Helen LaKelly
Hunt, PhD
The Two Simple Ways to Upgrade Your Relationship by Harville Hendrix, Oprah.com
Couples Workshops with Harville and Helen
Start with Why: How Great Leaders Inspire Everyone to Take Action by Simon Sinek
SoulCycle in Bridgehampton, NY
6 Original Riders Reflect on 10 Years of SOUL, SoulCycle
Seth Godin on How to Think Small to Go Big, The Tim Ferriss Show #177
Hamptons Magazine
Equinox
The 16-Second Survival Breath by Lisa Bedford, The Survival Mom
How I Get It Done: WeWork’s Julie Rice Always Takes the Stairs by Mara Reinstein, The Cut
Shabbat 101, My Jewish Learning
What Is Challah? My Jewish Learning
Levain Bakery
Baked by Melissa
Snapchat
4 Things It Takes to Be a SoulCycle Instructor, SoulCycle
Mad Libs
Setting the Table: The Transforming Power of Hospitality in Business by Danny Meyer
Delivering Happiness: A Path to Profits, Passion, and Purpose by Tony Hsieh
Rainbow Room
SHOW NOTES
Julie was a nerdishly well-behaved child…except for this one time. [06:35]
What was Julie’s life like the year before cofounding SoulCycle? [09:28]
What were Julie’s duties as a talent manager in her former life, and what were some of her better decisions in that role? [13:37]
One of Julie’s better skills in life: people picker. [15:03]
How many clients does a successful talent manager usually have under their wing? [17:22]
What did Julie see in Ellen Pompeo that made her pursue her as a client, and how does it tie in with what she looks for in people who work for her in different capacities today? [19:04]
How did SoulCycle formulate as a concept and become something real in just four months? [20:49]
The Sunday $200 ATM ritual and how money was handled in the early days of SoulCycle. [23:44]
How did the name “SoulCycle” come about, and were there any serious alternatives in the running? [29:01]
How did Julie and Elizabeth decide on the business model that made SoulCycle stand out from its big box gym contemporaries at the time? [29:42]
Early good decisions. [31:35]
How lack of space in the first SoulCycle room created an accidentally positive environment for human connection and moving meditation. [33:08]
What value did Julie and Elizabeth find in having a life coach help them at this stage in the business? [34:48]
While initially skeptical about seeing a coach, what sold Julie on the deal at the first meeting? [41:26]
What Julie has learned about fostering a company culture and a family life (thanks to some help from Hendrix and Hunt’s Getting the Love You Want) that make conflict resolution go smoothly and constructively. [44:31]
Why Julie considers Simon Sinek’s Start with Why so helpful for people trying to communicate in the workplace. [52:18]
How SoulCycle’s investment in the careers of its instructors engendered true loyalty and made the company stand out as an innovator in the fitness industry. [55:24]
Why did Julie and Elizabeth resist the urge to take outside investment money early on, and how did it shape the way business — particularly marketing — was done? [57:27]
How a little creativity gave a marketing experiment in Bridgehampton much better ROI than a $75,000 magazine ad ever could have — and turned SoulCycle from a scrappy startup into a bona fide sensation. [1:05:14]
Why finally accepting outside cash infusion from Equinox was seen as a good idea for the business at this time. [1:08:49]
Bad uses of time and money and rolling with the consequences. [1:10:45]
Think you don’t have time to meditate? Here’s how Julie does her daily meditation in 16 seconds. [1:16:15]
The number one thing that keeps Julie from buckling under stress and anxiety. [1:17:54]
A new weekly ritual that helps reframe Julie’s family life and bring everyone closer together. [1:21:50]
What SoulCycle’s eight-week training program strives to instill in its instructors, and what this brings to the overall SoulCycle experience. [1:26:27]
What does a curriculum designed around developing spiritual, emotional leaders look like? [1:29:30]
Books Julie recommends and gifts frequently. [1:31:39]
What is Julie currently most excited about — professionally, personally, or in-between? [1:32:43]
What would Julie’s billboard say? [1:35:20]
Closing thoughts. [1:36:50]
PEOPLE MENTIONED
Julie’s mom
Spencer Rice
Ellen Pompeo
Selma Blair
Justin Long
Jennifer Lopez
Sean Combs
Will Smith
Benny Medina
Elizabeth Cutler
Dionne Warwick
Meredith Haberfeld
Harville Hendrix
Helen LaKelly Hunt
Oprah Winfrey
Simon Sinek
Jeff Bezos
Seth Godin
Harvey Spevak
Danny Meyer
Tony Hsieh
