#Successwithin with SoulCycle Founder Julie Rice and CEO of WeWork
Successwithin with SoulCycle Founder Julie Rice and Chief Brand Officer of WeWork
Julie Rice, the co-founder and former co-CEO of the boutique fitness business SoulCycle, wasn’t prepared for the difficulty of exiting the company she started. “It’s like losing a limb,” Rice tells Inc. She and her co-founder, Elizabeth Cutler, sold SoulCycle to the gym conglomerate Equinox in 2011, and stepped down in 2016–reportedly pocketing $90 million each.
That startup passion, at least in part, has fueled Rice’s next step. On Monday, Rice confirmed that she’s joined the New York City co-working giant WeWork. In her new role as chief brand officer, she plans to focus on creating a more holistic community for WeWork members, introducing new programs, shared software and events.
IGNORE THE “SHOULDS”
When asked for advice, I hear a lot of “shoulds.” “I should be a banker.” “I should go to law school.” “I should pursue what I studied in school.” I understand that impulse because my college peers also chose pretty linear and mappable career paths. Instead, I took a different path and worked on the corporate development team at Starwood Hotels right out of college. None of my friends understood my choice, but before graduating, I stopped thinking externally and began surveying myself internally: I assessed my interests and knew that an entrepreneurial first step, albeit within the framework of a larger company, would ensure I was constantly learning and engaged in my first job out of college.
KEEP YOUR HEAD DOWN AND KEEP LEARNING
The most important questions you can ask yourself in any job are: Am I learning? Am I interacting with people and projects that push me? Am I moving beyond my own edges and getting out of my depths? Looking back, I grew the most when I learned the most, when I was in over my head or asked to do an assignment outside of my daily responsibilities, and many times, my existing skill set. That’s what led me to SoulCycle: I started helping out at the small startup after Equinox acquired a majority stake, even though that technically wasn’t in my job description.
In that same spirit, don’t get so fixated on a role or a title or a promotion. Instead really think about the meaning of your work, what kind of impact you’re having and the growth you’re experiencing above all else.
Don’t think about what you want, think about what you can contribute — to everyone, regardless of their title — and invest in others every day. Make time for lunch or coffee even when you’re busy. You never know where those relationships will lead — be it in partnerships, negotiations or your personal life. One huge reason I’m here today is because I was lucky enough to meet a woman who needed an analyst on her corporate development team at Virgin. A mutual friend connected us, and when we met, I focused on her story and her needs instead of searching for ways she could help me. After our first conversation, I eventually explained to her how I could help her role and team. Just remember, good stuff comes from reaching out and making time without an agenda.
ALWAYS BE PRESENT
Think long-term, but try not to get too focused on what’s next. Be present in your present and make the most of where you are. Every day, look for ways to pitch in and impact your team, or bring your creative thinking to the day-to-day needs of your job. Beyond work, it’s so important to apply this in your personal life, and to be present for your family and friends.
Personally, I make breakfast with my kids on weekends and implement strict no-phone policies during meals. I prioritize and respect that time to recharge outside of the office, all while immersing myself in my children’s lives. Because we’re all so time-starved, it’s critical to make the time you have with friends and family really count.
ASK FOR FEEDBACK OFTEN, AND EARLY
Make feedback a constant conversation throughout your career and make it contextual. After delivering a project, for example, it’s always good advice to ask: How did the project go? Do you have any feedback for me? How could this have gone better? What went well that we can acknowledge and continue? I think having that ongoing check-in during real-time moments, instead of some yearly grand reveal, is helpful in any position.
Finding success means finding happiness for you, and that means living and growing, sometimes failing and deciding what rings true for you. Still, for anyone who feels as lost as I did in that moment of clarity with my wind turbine, my lasting piece of advice is to learn to trust. Trust that your experience and instincts will guide you through uncertain moments to exactly who and where you’re supposed to be.
“Once you get the entrepreneurial bug, it’s hard to sit still,” Rice says. “What’s going on at WeWork is so exciting.”
WHEN YOU’RE JUST GETTING STARTED:
Julie Rice, Co-Founder of Soulcycle, spoke a lot about the early stages of starting your business, and I absolutely love the advice she had to offer. Here are a few tidbits I took away from her speech:
– If the idea won’t go away, that means you have to go for it.
– There are really no mistakes you cannot recover from.
– Sort of being passionate about something is probably not gonna get you to the finish line.
– To sustain a successful business, you have to be a user of your product. You have to stay close to your customer.
– Break down your goals into small steps (3 tasks a day).
– Listen to your gut.
– In response to criticism — don’t listen to the noise, stay in your lane.
