And it was the first time in my life that someone said to me, Do you understand that thats actually unacceptable behavior? And I think I just broke down in tears. I always advise people, you can go into business with someone you just met or you can go into business with someone youve known for 25 years, but they are both risks because when money gets involved, sometimes people take on behaviors that you never could have predicted. Her stuff works huh! The other very obvious one was have really good legal protection when you go into a partnership and a business, and I didnt. Mike: So we have one last thing to do, which is somewhat of a tradition here called the Lightning Round. Meet Co-founder and Creative Director at Flywheel Sports, Ruth Zukerman. Because Ill top that offer, and we really want you to be here as just an instructor. And I dont even think I turned around, and I left. The discipline it takes to be a dance student and to grow up as a dancer and become a professional dancer, that also transferred to the spin class. Im making very little money teaching these part-time classes and I need to figure it out. What did you feel like you could do different in a space that you defined and built already in now what would be a competitor? And when I say that, what I mean is I was obsessed with music from an early age. Zukerman: This past weekend, I ran into an old friend of mine. Weve all been through traumas, you know? Ruth Zukerman: Were on good terms. According to Page Six's secret sources, Marc was spotted with Ruth Zuckerman, co-founder of Flywheel in NYC. Its like my church. Mike: So I want to take us back, all the way back. Its a lot of pressure. Ruth Zukerman: Well, my cofounder of Flywheel made it very easy because he came up with this idea of attaching technology to the bike and bringing this little computer screen to the bikes so that we could finally measure exactly what we were doing on the bike, how hard we were working, what our resistance levels were, how fast we were going. Theres no reason to continue down a career path that isnt making us happy. You talked about in terms of personality. But what happened was I would walk in, and then I would get on my podium and get on my bike, and there I was in front of all of my people that I brought into this business, all the customers. I very easily slipped into that role. What I saw very early on was that there was this very strong mental component that kicked in during the 45 minutes in class. So at SoulCycle, literally everyone walked in, waited online and signed up on a list, a paper, a list. And we learn an enormous amount with every decision we make along the way. This is probably the toughest one so okay if you dont get this right. Zukerman: For me, theres really no such thing as burnout when it comes to fitness. She is. You described a very close relationship with your father who passed away from cancer. Ruth pioneered the boutique fitness industry by creating the "studio" with a pay per class structure, modeling them after the dance studios she would frequent when she was pursuing her dance career. I actually just heard a story of two friends who started a business and knew each other for 25 years, and sure enough, they started the business, money gets involved, the relationship fell apart, and the business partnership dissolved. Would you believe she is in her 50s but looks 30-ish! Ruth Zukerman's path to entrepreneurship was nothing if not unconventional. I actually was just going to talk about the lawsuit, but I better not. Thank you. Lets bring you back into your basement and take you away from the very thing that you describe people seeking, which is community. Is that here to stay? (adsbygoogle = window.adsbygoogle || []).push({}); Ruth Zukerman: I mean, it was part generational I would say for my mother. Zukerman become a co-founder of cycling fitness giants SoulCycle and Flywheel. Zukerman: I had my family by the point I started businesses. Can we spend a minute just on those types of setbacks? She started going to indoor cycling classes shortly after her divorce in 1996 and fell in love with it. So in a spin class, if you point out someone in the class, if you make that personal connection, theyre coming back the next day. We have a lot to cover. So that was a big scratch-my-head moment. Mike: As a quick time out to that, I love how in business school we do cases and courses and six-month learning programs to try to have a light bulb moment that you got getting on a bike one day. Thanks so much for being here. At the end of the day, it sounds very simplistic but when were unhappy, feeling unfulfilled, frustrated, we dont like what were doing, were not enjoying our jobthose are the moments where we really have to do some introspection. . During student-led interviews and before a live audience, leaders from around the world share insights on effective leadership, their personal core values, and lessons learned throughout their career. After two years of some brief stints with some modern dance companies that paid nothing, I realized I had to shift gears and it was my first fish-out-of-water moment. We would like to show you a description here but the site won't allow us. I thought I was talented, but the truth was, I wasnt good enough especially if I wanted to stay in New York. Its riveting. I think its so rare to see someone as successful as you talk about how important it was, and Im also a big proponent of mental and physical fitness. And they were two people that my kneejerk was to defer to them, to really let them overpower me and to not have a voice. I drive inclusion in technology and product to improve the world. You described some very key moments in your childhood as being pivotal to the successes and challenges and the obstacles you ultimately overcame both personally and professionally. And so I looked at how I raised my children and what my style was in raising my children. And it helped us in terms of the culture we built with our employees and with our customer base. But what I was going to say is I was going to give him a compliment. And so she clearly was a fan of mine, a big rider in my class and clearly recognized my passion for it. a spin, an iced coffee, and a stroll on . The rest, as they say, is history. It launched in 1978 and is supported in part by the F. Kirk Brennan Speaker Series Fund. I still get really upset and angry when I think about it. And really, to a certain extent, what I did was I just transferred that experience onto a bike. Were seeing how it is going into the digital realm. Earlier this year, Flywheel lost a major legal battle to its competitor. On this podcast episode, the Flywheel cofounder talks about staying strong in turbulent times and defining her own success. Ruth Zukerman is co-founder of indoor cycling businesses SoulCycle and Flywheel Sports. A question I have is around something you mentioned earlier. Tap it back.. Previously city included Sarasota FL. It wasnt a light bulb moment necessarily to, Oh, I need to go create a brand. What did you find out when you did some of the soul searching that seemed to come from getting into the bike? Leibson: Do you have any advice for young entrepreneurs wanting to start families? It was kind of a floor-to-ceiling glass room, dark, room was full, the sound of the wheels, club music blaring. I never would have predicted that at the time. Peloton riders having conventions basically and getting together all over the world. Her mother is a co-founder of Flywheel Sports, an indoor cycling business; she is . Multiple sources apparently have confirmed that the two first hooked up when Elizabeth was in rehab and have continued to see each other after she was released. So she definitely appreciated it. Ruth Zukerman: Yes, of course. That has to do with not only making people feel good, but making everything easy for them. You were against expanding super fast and getting off to the races. I love to share that with people and its a big theme in my book because its so easy to want to throw in the towel when we get to these very low moments when things dont pan out. Ruth Zukerman is the co-founder of SoulCycle and Flywheel, both wildly successful companies that innovated the studio cycling movement. Zukerman: The most recent book that really inspired me was Tara Westovers Educated. If youre always deferring to someone and that person is always telling you that they know more than you, it would make sense. His success has come from the rising of hard work. Going into Flywheel, which a lot of people, when they hear your story, they think of SoulCycle or they think of Flywheel. My question was around the therapy topic you mentioned. We might not have the answers when were 37. The boutique industry is really not very accessible to everyone. ruth zukerman net worth. While I was in love with this person, I knew he was ambitious, confident, and would have a strong career. Mike: Do you remember that conversation you had where it all of a sudden started to come together with your cofounders at the time or your would-be cofounders in starting SoulCycle? Cycling for success: Flywheel Co-Founder on future of boutique studios October 2, 2018, 11:02 AM Ruth Zukerman, co-founder of flywheel and soul cycle, tells us what it took to get to the top of . Obviously for women there is the biological clock and we need to pay attention to that. I love it for its beauty and the feeling of escape during all seasons. Mike: Okay. I was now a single mother, didnt have much on the financial front and had to figure out my life, again, having no idea how to even start. So, again, it always came back to connecting with people. What were the learnings there from doing it yourself and not raising capital? Sometimes I think about the fact that my two cofounders of SoulCycle are two women who I didnt know for a long time. So immediately at Flywheel we thought, were adding technology to the bike, so lets be consistent, and lets have small portable laptops set up in our lobby area so people dont have to wait in line and people can sign up by themselves. Zukerman: For me and my experience, so much of it was about circumstances and it being the right time within my own personal evolution. It was an escape. Ruth Zukerman: Im going to give you two anecdotes on that. And the truth is, my two cofounders were similar to each other, but very different from me. I mean, that was a life-changing moment for me. This week, I sit down with Ruth Zukerman, Creative Director of boutique cycling favorite FlyWheel Sports. So no, I didnt regret it at all. Ruth Zukerman - a co-founder of SoulCycle and Flywheel, Ruth Zukerman's rise to entrepreneurial stardom, began with the acceptance that her career as a dancer would never take off. They started in New York and theyre going exponentially. Meet Co-founder and Creative Director at Flywheel Sports, Ruth Zukerman. It's easy to look at successful entrepreneurs like Ruth Zukerman, cofounder of immensely popular spin studios SoulCycle and Flywheel, and assume their paths unfolded effortlessly before them.. I was never exposed to business. Mike: Can you walk us through that transition of leaving Soul? Mike: That type of learning I think in a school like the GSB where theres a very touchy-feely mentality to approaching business, that resonates, Im sure, with us in the audience. There was a reason why I was there. While I was working there, I was set up on a blind date and met my future husband. She credits her time in therapy with giving her the strength to finally get divorced. According to NY Post-Page Six, ABC anchor Elizabeth Vargas husband, Marc Cohn, had an affair with Zukerman while Vargas was in rehab for alcohol abuse. Where is there space for innovation if at all? And I happen to know of businesses that are already in the works where theyre coming up with a less expensive bike which will then allow a business thats more accessible a less-expensive at-home bike as well. At 51, she co-founded a new business, the highly successful Flywheel, and built the life she'd always dreamed of. Mike: What was going through your mind as the next step personally and then professionally it seems like would follow later? My names Kana Hammond. But there was like a prestige about going to SoulCycle. Gabrielle Palay, Ruth Zukerman and Marc Murphy attend FLYWHEEL INAUGURAL RIDE at Sag Harbor on May 29, 2010 in New York City. Ruth Zukerman: Well, truthfully, that was completely luck. And when youre going through a trauma, one thing I learned thats really important is to take care of yourself and stay healthy and strong. The health, wellness and fitness guru from New York City, has been a leading fitness instructor on the East Coast for the past 30 years. I think it was a combination of my own evolution and the right circumstances at the right time. So what a formula for success in our businesses. What I learned in retrospect was that showing up for these spin classes was at the time my way of taking care of myself physically and mentally. Ruth Zukerman net worth Apr, 2022 . I was there until 2009. And some folks here in the audience, at least others that I know, have talked about SoulCycle or Flywheel as another form of therapy. Just kidding. Ruth Zukerman: This is definitely going to bite me in the ass some way. What are we going to do? Because we were in the back of a building. flywheel ruth zukerman net worthhorse heaven hills road conditionshorse heaven hills road conditions So a good way to answer the question is when we started Flywheel, we wanted to make signup more efficient. Mike: Going right there to that moment in life where you describe being divorced with two young daughters; I think they were 6 years old; is that right? And literally within the first class I knew that this was something beyond exercise. Where was the tension ultimately in terms of thinking about growth, what you all wanted? According to her website, Ruth received her education at Mount Holyoke College and has taken extensive courses in anatomy and exercise physiology. bag9 ! As important as it is for our physical health to keep working out, whether its cardiovascular health or physical strength, we cant ignore the incredible importance of our mental health. Ruth Zukerman is the Queen of Spinning: she put the Soul in SoulCycle and the Fly in Flywheel. Ruth Zukerman: Yes. Ive accomplished everything that I ever set out to do and have enjoyed my life fully. And then you respond by saying that, In that moment, as much as I couldnt help feeling my own sorrow, I was also inspired by his courage and his resolve.. And the applause is also for each other and for encouraging the community. I love that book. Being a dancer, I choreograph to music. And that was when I found spinning. She divorced in 1989 according to an article from the nypost in 2011. Ruth Zukerman: Great question. A direct effect of this accomplishment is the fact that he has now become one of the richest persons on the entire planet. I still see lines around the block for their product. Year: Net Worth: 2019: $16 Million : 2020: $16.5 Million: 2021: 17 Million: Nice. flywheel ruth zukerman net worth jeffrey dahmer museum milwaukee After studying dance in college and teaching fitness classes in New York City, she ended up co-founding two indoor cycling studios, SoulCycle and Flywheel.Now, as Creative Director at Flywheel, she teaches sold out weekly cycling classes. Ruth Zukerman: So, its a good question because its thinking about the future of all of this. And if I could do that, and if I could go back, the message would be to relax, that we just are not going to have the answers when were 16. I believe a lot of the reasons that went into my decision to get married at age 26 were probably not the right reasons. And its this beautiful full-service gym that offered every kind of group fitness you can imagine swimming pool, basketball court, really incredible place. And its interesting; I believe a lot in kind of trickle-down theory and that the aura that you create in your business has a lot to do with whos at the top and the founders. Open yourself up to the possibility that the best part of your life hasnt happened yet. Plato or SoulCycle? a little experience with that. Flywheel co-founder Ruth Zuckerman says the answer is absolutely-- and there's a formula to make it worth your while. Ruth Zukerman: I think so. And obviously SoulCycle became huge. You touched on it a little bit, but maybe if you could talk more in-depth about what are some tangible things to help people understand what mental fitness could look like? The company has expanded across the country into South Florida, Chicago, Atlanta, Charlotte, Los Angeles and more. I was actually really impressed and surprised by it. There werent the SoulCycles and other brands out there. The truth is, when I made the agreement to go into business with these two cofounders, I didnt know myself. This seems, as you described, somewhat happenstance as you were approached by one of the cofounders. But another phenomenon thats taken place is a lot of the kind of bigger businesses and corporations are now getting into this sector. Opinions expressed by Forbes Contributors are their own. The business was built around one cookie that they came up with. She recently authored Riding High: How I Kissed SoulCycle Goodbye, Co-Founded Flywheel, and Built the Life I Always Wanteda refreshingly authentic and spectacular memoir about realizing your own potential and building a fulfilling life. Weve all had a lot of challenges growing up and in our adult life. And I said, Where am I going? And I find it interesting to myself that it took me a long time after divorce to really settle into a relationship with a man. That was also a set of circumstances. The major reason that people started to feel comfortable connecting with me, because I can only speak for myself, was because of my willingness to be vulnerable in front of people. Mike: To zoom out a little bit, you look at the brands that you successfully built and live. The health, wellness and fitness guru from New York City, has been a leading fitness instructor on the East Coast for the past 30 years. Zukerman: I believe resilience and reinvention go hand-in-hand. And is that okay for a brand to fill that void? According to Page Six, the TV anchor and her husband who are parents of two children were friends with Zukerman before becoming regulars at her Flywheel spin classes. Ruth Zukerman: [Laughs] Thanks for that perspective. And then theyre going to Barrys twice a week. Marc Cohn has denied having 'a so-called "affair"' with Flywheel Sports co-founder Ruth Zuckerman. Tue, Aug. Ruth Zukerman: So I was, again, newly out of the marriage embarking on this entirely foreign new life.