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Entrepreneurs share secrets of building a fitness business at PerformX
POSTED 25 Mar 2024 . BY Kath Hudson
Jonathan Leary shared that investors laughed at his idea for Remedy Place when he first pitched it Credit: Remedy Place
Dave Wright, Lara Morgan and Dr Jonathan Leary discussed empire building at PerformX Live last week
Wright says building the business is as good as profiting from it
Morgan says imposter syndrome is a myth
Leary said he was laughed at when trying to launch the world’s first social wellness club
Enjoy building your business because the journey can be as good or better than the destination was one takeaway of the industry titans’ panel on empire building, comprised of three industry entrepreneurs.

Remedy Place founder, Dr Jonathan Leary, has worked 100 hour weeks for years, but he stresses the one thing you can’t sacrifice while building a business is your health. He has multiple daily rituals to maintain his own physical health: exercise, intermittent fasting, cold showers, breathwork, visualisation and manifestation and seven to eight hours’ sleep, wearing mouth tape to breathe nasally.

Both Myzone founder, Dave Wright and entrepreneur and investor, Lara Morgan (formerly Pacific Direct, Yogi-Bare, Kitbrix, Scentered, Betterspace) said the journey was better than the destination at times and that building their respective businesses was more enjoyable than reaping the rewards of the riches, given their passion for their purpose.

Morgan said she felt a lack of purpose after exiting Pacific Direct and soon had to channel her energy into new ventures.

Wright said running a growth business, as opposed to a lifestyle business, comes with some frustrations: “If you raise money you’re at the mercy of those who invested and have to ask permission for everything.”

The panelists also talked about the necessary sacrifices made to run growth businesses. Even though she never missed special occasions, Morgan says the year she sold her business she was away for 221 nights and having travelled so much when his four children were young, Wright has retired early to spend time with them.

Wright’s top tips for being successful were to think about the customer: “You can have anything you want in this world if you help enough people to get what they want and treat every person with the respect and dignity which you would expect to receive.”

Morgan said: “Be relentless and honest. Quality wins and persistence persuades, believe in your brand, learn how to negotiate, get three things done every day and enjoy the journey.”

“Prepare to be misunderstood,” said Leary. “People said to me that Remedy Place was the most "LA thing" they’d ever heard and the first bank manager I approached laughed at me. I had to be OK with being told it wouldn’t work.”

Finally, Morgan says imposter syndrome isn’t a thing, so don’t buy into it.
Dave Wright spoke about building a business empire at PerformX Live Credit: Myzone
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NEWS
Entrepreneurs share secrets of building a fitness business at PerformX
POSTED 25 Mar 2024 . BY Kath Hudson
Jonathan Leary shared that investors laughed at his idea for Remedy Place when he first pitched it Credit: Remedy Place
Dave Wright, Lara Morgan and Dr Jonathan Leary discussed empire building at PerformX Live last week
Wright says building the business is as good as profiting from it
Morgan says imposter syndrome is a myth
Leary said he was laughed at when trying to launch the world’s first social wellness club
Enjoy building your business because the journey can be as good or better than the destination was one takeaway of the industry titans’ panel on empire building, comprised of three industry entrepreneurs.

Remedy Place founder, Dr Jonathan Leary, has worked 100 hour weeks for years, but he stresses the one thing you can’t sacrifice while building a business is your health. He has multiple daily rituals to maintain his own physical health: exercise, intermittent fasting, cold showers, breathwork, visualisation and manifestation and seven to eight hours’ sleep, wearing mouth tape to breathe nasally.

Both Myzone founder, Dave Wright and entrepreneur and investor, Lara Morgan (formerly Pacific Direct, Yogi-Bare, Kitbrix, Scentered, Betterspace) said the journey was better than the destination at times and that building their respective businesses was more enjoyable than reaping the rewards of the riches, given their passion for their purpose.

Morgan said she felt a lack of purpose after exiting Pacific Direct and soon had to channel her energy into new ventures.

Wright said running a growth business, as opposed to a lifestyle business, comes with some frustrations: “If you raise money you’re at the mercy of those who invested and have to ask permission for everything.”

The panelists also talked about the necessary sacrifices made to run growth businesses. Even though she never missed special occasions, Morgan says the year she sold her business she was away for 221 nights and having travelled so much when his four children were young, Wright has retired early to spend time with them.

Wright’s top tips for being successful were to think about the customer: “You can have anything you want in this world if you help enough people to get what they want and treat every person with the respect and dignity which you would expect to receive.”

Morgan said: “Be relentless and honest. Quality wins and persistence persuades, believe in your brand, learn how to negotiate, get three things done every day and enjoy the journey.”

“Prepare to be misunderstood,” said Leary. “People said to me that Remedy Place was the most "LA thing" they’d ever heard and the first bank manager I approached laughed at me. I had to be OK with being told it wouldn’t work.”

Finally, Morgan says imposter syndrome isn’t a thing, so don’t buy into it.
Dave Wright spoke about building a business empire at PerformX Live Credit: Myzone
RELATED STORIES
Myzone removes the hardware barrier with launch of MZ-Open, making its system available on smart watches


Myzone is now available on smart watches, allowing Android and AppleWatch wearers to record workouts without an additional device, and taking the tech company into the multi-billion dollar smart watch market.
FEATURE: Spa People: Dr Jonathan Leary


The Remedy Place co-founder says the self-care industry is going to blow up
MORE NEWS
JD Gyms acquires Simply Gym as it targets 100 locations
The JD Gyms Group has completed a deal to acquire Simply Gym from Bay Leisure. The deal comprises four gyms: one in Greater London and three in South Wales.
Baz Moffat gets 'sweat equity' backing from Priya Oberoi to drive the growth of The Well HQ
Women’s health specialist, The Well HQ, has secured 'sweat equity' backing from Priya Oberoi, founder of venture capitalists, Goddess Gaia Ventures, who will take on a senior advisory role with the business.
Peloton buys time for a turnaround with US$1 billion loan
Peloton has secured a critical US$1bn five-year loan to shore up its finances.
Dean Kowarski, global CEO of Virgin Active, will keynote at HCM Summit 2024
Leisure Media has added another heavyweight to its line-up of CEOs for its inaugural HCM Summit this October. Dean Kowarski will talk about the intersection of fitness and nutrition.
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Empower your team, transform your service – elevate with coaching workshops
In today's competitive fitness landscape, the key to success lies not only in providing exceptional facilities but also in cultivating meaningful interactions with members. [more...]

Phil Heath, 7x Mr Olympia, shares machine-only leg workout routine
Phil Heath, professional athlete, bodybuilder and 7x Mr. Olympia, has fielded a lot of questions about bodybuilding without machines. Should bodybuilders be limited to just free weights? Why? [more...]
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Keiser UK LTD

For more than four decades, Keiser has influenced the training of athletes, fitness enthusiasts an [more...]
+ More profiles  
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+ More catalogues  

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+ More directory  
DIARY

 

30-30 May 2024

Forum HOTel&SPA

Four Seasons Hotel George V, Paris, France
30 May - 02 Jun 2024

Rimini Wellness

Rimini Exhibition Center, Rimini, Italy
+ More diary  
 


ADVERTISE . CONTACT US

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Tel: +44 (0)1462 431385

©Cybertrek 2024

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