KIMBERLY WALKER - BORRACHA LINDA HENDY - RED SCOOTER DELI HEIDI SEASTRAND - LIFE TRANSFORMATIONS RICK STOLLMEYER - MINDBODY

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Q&A:  Rick Stollmeyer, CEO, MINDBODY, Inc.


1.   What inspired you to start your company?

An old friend had written a custom database application for a few yoga, Pilates and spinning studios, and was looking for someone to help him build a company around that. After researching the opportunity, my decision to leave an existing engineering career and start this adventure stemmed from two foundations.  First, I always wanted to start my own company.  My Father and Grandfather had built their own businesses, and I knew from early childhood that I was destined to do the same.  Second, I was inspired by the sense of purpose I found in the Mind & Body community.  These were people who had  a passion for fitness and health.   The ones we were dealing with had taken that commitment to the next level, and started their own businesses to spread their knowledge into their communities.  I loved the symmetry of being an entrepreneur dedicated to helping other entrepreneurs succeed.


2.   What are some challenges that your company faces in this recession? 

We are fortunate, in that our solution helps business owners improve their bottom line, despite economic headwinds.   While we have seen a small increase in business shut downs, that has been more than counteracted by the increased number of business owners looking for ways to increase revenues and cut operating costs.  MINDBODY’s online software does both in spades.
 

3.   What advice do you have for other entrepreneurs who want to start or grow a business during this recession?

Don’t do it unless you have thoroughly researched your opportunity and are utterly committed to its success.   There are no 40 hour work weeks for a business owner.   To make it, your business must to be your job, your hobby and your passion.   When customers, bankers, investors and potential partners sense that about you, they will back your vision.    When they don’t, they will not.  It is as simple as that.     


4.   What are some of the challenges and attributes to doing business in SLO County?

Challenges:   Travel in and out of SLO County has been significantly impacted by the recent reductions in airport service.   Also, our relatively high cost of living makes it difficult for middle income workers.   Attributes:  Our outstanding human capital.  In addition to the influence of Cal Poly, our superior quality of life attracts some of the best and brightest from around the world.     That is an invaluable resource for companies like ours.

The attributes far outweigh the challenges, in my opinion.


5.   What kind of future do you see the technology sector having in the region?

It is very bright.  In addition to MINDBODY, there are several other highly successful technology companies.   The very technology we are leveraging in our products also enables virtual offices and global work teams.  It is possible and practical now to work for an enterprise halfway around the world, and live where you want.   San Luis Obispo is ideally suited for that new reality.


6.   What inspires you and drives you to succeed?

We are here to experience lives of purpose and passion.  I am inspired by people who agree with that statement; people who dare to dream and have compassion for others.   I am driven to succeed, in order that I may provide for my family and experience life to its fullest. 

To find out more, visit: www.mindbodyonline.com

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