Welcome to Rich is Not a Four-Letter Word, the podcast for your wallet. I'm Gerri Willis with the Fox Business Network. Ellen Latham is the co-founder of Orangetheory Fitness, the highly successful gym franchise that is taking the country by storm. Latham, an Exercise Physiologist, is attempting to help members remake their bodies from the ground up to be healthier and better off. I spoke with her recently about building the business.
Here are the takeaways:
- Focus on what you have, not what you don't have. Starting the business was equal parts desperation and inspiration for Ellen, who started pursuing her own business after she was let go from a high-end Miami Beach gym, where she was manager. When that happened her father told her to focus on what she could do and what she had, and she soon got back into the fitness mix offering her own Pilates class.
- Start simple. At first, Latham was looking to develop a workout that she could offer a small number of clients. In the early years, she didn't even dream of starting a company that would ultimately have 1200 franchised locations and a high profile around the country.
- Don't just show up. Go out to perform the best you possibly can in everything you do.
Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!