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Classpass Founder: Quitting My 9-5 Led To A $1 Billion Business: Payal Kadakia | E141

Classpass Founder: Quitting My 9-5 Led To A $1 Billion Business: Payal Kadakia | E141

46 segments available

This episode is part of our USA series, over the coming weeks you will get to see some incredible conversations with guests the likes of which we’ve never seen before. Bringing more value, more incredible stories, and more world-beating expertise. Payal is the founder of Classpass, the billon dollar app that’s been the ticket to every skill and passion for its millions of users. Today she shares exactly how she got there. The sheer determination with which she ruthlessly sets her goals and priorities, and then systematically chases after them with everything she’s got, was hugely inspiring to me, and I’m sure it will be to you too. 00:00 Intro 01:26 What made you different? 10:18 Battling between your passion and 9-5 14:43 Rebelling for your purpose 18:24 Changing careers and finding new communities 20:54 Confidence, purpose, and drive to success 26:13 Why did you start ClassPass? 40:18 What difficulties did you face starting your business? 52:06 Living in line with your values 54:57 What were you like as a manager? 59:05 Why did you step away from ClassPass? 01:03:07 Work and family balance 01:06:53 Therapy sessions 01:09:00 Our last guest’s question Payal: https://twitter.com/payalkadakia https://www.instagram.com/payal Payal's book: https://www.amazon.co.uk/LifePass-Groundbreaking-Approach-Goal-Setting/dp/1399706756 Listen on: Apple podcast - https://podcasts.apple.com/gb/podcast... Spotify - https://open.spotify.com/show/7iQXmUT... FOLLOW ► Instagram: https://www.instagram.com/steven/ Twitter: https://twitter.com/SteveBartlettSC Linkedin: https://www.linkedin.com/in/steven-ba... Sponsors: Huel - https://my.huel.com/Steven Myenergi - https://bit.ly/3oeWGnl Vodafone Business - https://bit.ly/3NIM35n https://bit.ly/3AuPKsA Location courtesy of The Nightfall Group: www.nightfallgroup.com

Segments Timeline

1
0:00 - 1:01
1:01 duration224 words

Breaking Free from Societal Norms

Payal Kadakia discusses the societal expectations of success, such as getting a job, marrying, and buying a house, and how these norms can make life feel small. She reflects on her childhood experiences that shaped her desire to break free from these constraints and pursue a more fulfilling life aligned with her purpose.

"could you do me a quick favor if you're listening to this please hit the follow or subscribe button it helps more than you know and we invite subscribers in every month to watch the show in person i t..."

2
1:01 - 2:38
1:36 duration258 words

The Magic of Dance

Payal shares her early passion for dance and how it provided her with a sense of connection and influence over others. She emphasizes that this experience shaped her understanding of purpose and authenticity, driving her to seek similar feelings in all her endeavors throughout life.

"beyond the nine to five i do how do you find it so first of all so without further ado i'm stephen bartlett and this is the diary of a ceo usa edition i hope nobody's listening but if you are then ple..."

3
2:38 - 4:15
1:37 duration303 words

Struggles of Identity

Payal reflects on her struggles with identity as an Indian girl in a predominantly white community. She discusses the challenges of fitting in and how dance became a refuge that allowed her to feel whole, despite the pressures to conform to societal expectations.

"in anything i did and i strived in all the work i did and all of you know the different careers i've had in my life and the different you know art i've done i've strived always to go back to that inte..."

4
4:15 - 5:41
1:26 duration284 words

Parental Expectations and Rebellion

Payal talks about the expectations her parents had for her to pursue traditional careers and marry at a young age. She explains the internal conflict between wanting to make her parents proud and the desire to forge her own path, leading to a rebellion against societal norms.

"the resistance you felt and the struggle you felt of bit trying to i guess conform to two different communities at the same time so tell me about trying to be an american in in a town where there's yo..."

5
5:41 - 7:06
1:24 duration293 words

The Cost of Conformity

Payal discusses the emptiness that can come from living a life dictated by others' expectations. She emphasizes the importance of self-reflection and understanding one's own desires to avoid the feeling of hopelessness that can arise from conformity.

"had this light right and i think that's you know going back to what you were asking it was the light that i saw that there is something beautiful out there for me to go and do for the world if i can j..."

6
7:06 - 8:48
1:41 duration327 words

Choosing Passion Over Security

Payal recounts her experience working in consulting and the internal struggle she faced between her corporate job and her passion for dance. She reflects on the sacrifices required to pursue her true calling and the realization that she was unwilling to trade her passion for a conventional career.

"the hardest part is when you are constantly brought in your life in saying that you need to live by the expectations of others you end up either rebelling or you conform and i always wanted to make my..."

7
8:48 - 10:14
1:25 duration299 words

Catalysts for Change

Payal shares pivotal moments that led her to leave her consulting job, including a performance conflict that highlighted her true desires. She discusses the realization that she didn't want to continue in a career that didn't align with her passions, prompting her to seek opportunities that offered more flexibility.

"absolutely what would you say to those people and what lessons have you learned about living a life expected of you i mean that's not the way to have a fulfilled life you can have a life and you can p..."

8
10:14 - 11:52
1:38 duration336 words

The Balance of Conformity and Rebellion

Payal reflects on the balance between conforming to societal expectations and embracing rebellion. She discusses how her journey has involved navigating these two forces and the importance of finding a personal path that honors both her identity and aspirations.

"the more you taste it the more you want more of it in your life at that phase in your life were you battling somewhat with your north star that light you referenced earlier which was dancing but also ..."

9
13:27 - 14:36
1:08 duration269 words

The Moment of Realization

Payal Kadakia reflects on a pivotal moment in her career when her boss questioned her commitment to consulting. This moment triggered a deep introspection about her true desires and career aspirations, leading her to seek more fulfilling opportunities that aligned with her values.

"by any means and and we're meeting like the ceos you know cfos of the company and um i remember talking to my boss saying hey you know what i really want to go to the performance i'm not like a big pa..."

10
14:36 - 15:02
0:26 duration111 words

Conformity vs. Rebellion

In this segment, Payal discusses the balance between conformity and rebellion in her life. She shares her journey from being a people-pleaser to embracing her true self, highlighting the importance of rebelling for a purpose and finding fulfillment beyond societal expectations.

"start looking at other jobs that would give me a bit more of the flexibility i wanted in my day to day but still pay the bills and that's when you move over to mtv i went to warner music right now we ..."

11
15:02 - 16:34
1:31 duration308 words

Dance as a Healing Force

Payal explains how dance became a therapeutic outlet for her, allowing her to integrate different aspects of her identity. She emphasizes the significance of expressing oneself and using art as a means to confront personal trauma and showcase her multifaceted identity.

"thinking about like the probably if there is a right balance of conformity and rebellion in our life because conformity makes sense you know in some regards you can't just be a total robot right we'd ..."

12
16:34 - 17:01
0:27 duration86 words

Fighting for Passion and Purpose

In this inspiring segment, Payal articulates her belief that life should be about fighting for one's passions and purpose. She reflects on her journey of rebellion not as an act of defiance, but as a quest for fulfillment and meaning in her life.

"believe even class pass was really the epitome of that too in my life is bringing parts of me together that i would never have been able to bring together in any other way and you know i think so much..."

13
17:01 - 18:10
1:08 duration228 words

Embracing New Communities

Payal shares her experience of transitioning from Bain & Company to a more fulfilling career, emphasizing the importance of finding a supportive community. She discusses how surrounding herself with like-minded individuals helped her regain confidence and a sense of belonging.

"that amen when you leave bain and company though is there a part of you because that expectation is it's never really yeah they really fully shake it right is there a part of you that whispers in your..."

14
18:10 - 19:02
0:52 duration194 words

The Power of Community

In this segment, Payal highlights the significance of community in personal and professional growth. She discusses how finding the right people can illuminate one's path and provide the support needed during transitional phases in life.

"that's another important thing especially when we're exploring these decisions and identities it's you know back to the light thing it's sometimes it's not the people we think are going to give us the..."

15
19:02 - 20:54
1:52 duration399 words

Small Steps to Big Dreams

Payal emphasizes the importance of taking small, incremental steps towards achieving big dreams. She shares her journey of building confidence through small successes, illustrating how these experiences laid the groundwork for her entrepreneurial aspirations.

"at different times in my life right for me it was the different communities that made me the entrepreneur i was it was my business community that helped me build class bus but it was also this girl wh..."

16
20:54 - 22:44
1:49 duration357 words

Finding Your 'Why'

In this thought-provoking segment, Payal discusses the quest for purpose and how individuals can discover their 'why.' She encourages listeners to explore their passions and interests, emphasizing that fulfillment comes from pursuing what truly lights them up.

"the point you made about the way confidence is built i think is so so important because i think a lot of people think they see people like you now sat here um after all this all you've achieved and th..."

17
22:44 - 25:58
3:14 duration696 words

ClassPass: A Solution to a Problem

Payal recounts the inception of ClassPass, sparked by her frustration with booking fitness classes. She shares how her experiences led her to create a platform that simplifies access to fitness, allowing others to break free from their routines and explore new passions.

"to the feeling of touching somebody's life so many people might like again my dm's are like how do i find my why yeah and it feels almost like a privilege doesn't it for people that have figured that ..."

18
26:00 - 27:32
1:32 duration336 words

The Spark of ClassPass

Payal Kadakia shares the pivotal moment that inspired her to create ClassPass. After a frustrating experience trying to book a ballet class, she realized the need for a more accessible solution. This segment highlights her journey from a 9-5 job to entrepreneurship, driven by a desire to solve a problem she personally faced.

"path and your routine and meet a teacher right that will inspire the growth in you and that reflection in you because most of the times the hardest thing to do is to ask yourself what you love in your..."

19
27:32 - 29:15
1:42 duration395 words

The Entrepreneurial Epiphany

Kadakia reflects on her transformative trip to San Francisco, where she met fellow entrepreneurs. This experience ignited her ambition to pursue entrepreneurship, leading to the realization that she could create a solution for the challenges she faced in her dance life. This segment emphasizes the importance of seeking inspiration and taking risks.

"even that you kind of glossed over that but that's pretty extraordinary because a lot of people encounter a problem the issue you encounter trying to book that class and they go [ __ ] the world is no..."

20
29:15 - 30:59
1:44 duration420 words

Embracing the Challenge

In this segment, Payal discusses the excitement and adrenaline rush of quitting her stable job to pursue her dream. She recounts the supportive response from her former colleagues, highlighting the courage it takes to make bold decisions. This moment marks a significant turning point in her entrepreneurial journey.

"for it but that is extraordinary because a lot of people will encounter things i'll encounter things today i might sit on a chair and be like this chair could be better but then i'll carry on with my ..."

21
30:59 - 32:29
1:30 duration351 words

Building a Safety Net

Kadakia explains her strategic approach to entrepreneurship, including financial planning and saving. She emphasizes the importance of having a backup plan and being prepared to take risks. This segment underscores the necessity of being financially secure to focus on building a successful business.

"do i get people to class and not make it so hard for people to get to class why is it important for people to go to class because then they can feel what i have in dance in their life it was just such..."

22
32:29 - 34:01
1:31 duration336 words

The Universe Aligns

Payal shares how opportunities began to unfold after she decided to pursue her business idea. She recounts a pivotal moment when a former executive offered to invest in her venture, illustrating how taking risks can lead to unexpected support. This segment highlights the importance of believing in oneself and the power of networking.

"i didn't care to spend money on the smaller things in my life right like i just didn't i didn't like i said i didn't travel i barely went shopping and by the way these are decisions i made right i thi..."

23
34:01 - 35:40
1:39 duration377 words

The Courage to Leap

In this segment, Kadakia reflects on the courage it took to quit her job and pursue her dreams. She discusses how her decision inspired others and the significance of taking control of one's life. This moment serves as a powerful reminder of the impact of bold decisions on personal and professional growth.

"i felt before i was blocking it right so the second i decided to go after building this company one of the biggest things i had to do was quit my job and on the day i quit i decided to write an email ..."

24
35:40 - 37:02
1:21 duration300 words

Earning Your Stripes

Payal emphasizes the importance of building a strong reputation and doing good work before taking entrepreneurial leaps. She shares her belief that hard work and dedication pave the way for future opportunities. This segment serves as a motivational reminder for aspiring entrepreneurs to focus on their craft.

"right especially people i had worked with who were much older than me that i was quitting my job and here i was 10 15 years younger than most of them and i remember everyone looking at me almost think..."

25
38:00 - 38:36
0:35 duration150 words

Focusing on the Core Business

Payal Kadakia emphasizes the importance of concentrating on the core business when starting a company. She discusses how worrying about peripheral issues can distract entrepreneurs from their primary goal, which is to attract customers and grow their business. This segment highlights the mindset needed for effective leadership and entrepreneurship.

"worrying about money and this is also an important thing is like when you are starting a company if i'm worrying about paying my bills right and if i'm worrying about like do i have the skills then i'..."

26
38:36 - 39:22
0:46 duration162 words

Navigating the Digital Landscape

In this segment, Payal shares insights on the evolving digital landscape and the necessity for small businesses to stay informed about trends. She introduces Vodafone Business's vhub, a resource designed to help entrepreneurs navigate these changes and emphasizes the importance of seeking guidance to succeed in a fast-paced environment.

"in being able to actually solve the most important thing i had a few words to say about one of my sponsors on this podcast we're now playing in a world where the digital landscape is changing every si..."

27
39:22 - 40:12
0:50 duration193 words

Sustainable Choices in Business

Payal discusses the growing trend of sustainability and how brands like Myenergi are making it easier for consumers to make conscious choices. She expresses her commitment to supporting sustainable initiatives and encourages listeners to explore eco-friendly options in their daily lives.

"front foot so go to vhub by vodafone you can search that anywhere on google and check it out now we are all looking for ways to live a little bit more sustainably and to make more conscious choices in..."

28
40:12 - 41:01
0:48 duration166 words

The ClassPass Journey Begins

Payal reflects on the early days of ClassPass, sharing the challenges she faced after quitting her job in 2011. She describes the struggle to find product-market fit and the difficulties of marketing a service that was not yet widely accepted, setting the stage for her entrepreneurial journey.

"people that wants to make a sustainable switch my energy.com is the place for you let's go to the start then of this the class pass journey because i'm really compelled by you know much of the reason ..."

29
41:01 - 42:27
1:26 duration284 words

Facing Failure and Learning

In this candid segment, Payal recounts the hardest months of her entrepreneurial journey when her initial product failed to attract customers. She discusses the emotional toll of this failure and how it ultimately shaped her into a true entrepreneur, emphasizing the importance of learning from setbacks.

"into the market with a very clear product idea and it was a replica of what had worked in another industry so opentable which allows you to book restaurant reservations it seemed like the right parall..."

30
42:27 - 43:38
1:11 duration241 words

Redefining Success in Entrepreneurship

Payal shares her realization that entrepreneurship is not about following a blueprint but about solving real problems. She discusses the importance of being mission-obsessed rather than product-obsessed, highlighting how this mindset shift led to the development of ClassPass's successful subscription model.

"because i i had never really faced failure in my life i mean going back to everything i just told you i had i'd sort of done things well and i tried to make sure that this would go well right by doing..."

31
43:38 - 45:06
1:27 duration305 words

The Discovery Pass Innovation

Payal explains the creation of the Discovery Pass, a product that allowed users to explore various fitness classes. She highlights how this innovation stemmed from understanding customer desires for variety and how it ultimately led to exponential growth for ClassPass.

"business model that you're going after and that woke me up and it was a a month or two period where we were trying to be comfortable like it was this comfortable place we were in because we had raised..."

32
45:06 - 46:00
0:53 duration207 words

Embracing Change and Adaptation

In this segment, Payal discusses the importance of adaptability in entrepreneurship. She reflects on how ClassPass has undergone multiple changes, including name and product iterations, to better meet customer needs and solve problems effectively.

"towards that and your mission so many entrepreneurs though and this is probably the mistake i made when i was 18 and started my first little tech company was um they get romantic about that initial hy..."

33
46:00 - 47:14
1:14 duration287 words

Understanding Customer Needs

Payal emphasizes the significance of engaging with customers and studio owners to understand their needs. She shares how this direct feedback loop helped ClassPass refine its offerings and create a product that resonated with users.

"obsessed and i learned that through that journey but um you know we started then putting this discovery pass out there so what we did learn is that you know we started finally actually going and talki..."

34
47:14 - 48:34
1:20 duration294 words

The Shift to Subscription Model

Payal discusses the transition of ClassPass to a subscription model, which was driven by customer demand for ongoing access to fitness classes. She highlights the rapid growth that followed this strategic pivot and the lessons learned from the initial product failures.

"magic of what we actually discovered in our second mistake of a product is that people loved variety they wanted to really go and try new things it's what motivated them they didn't want to do the sam..."

35
48:34 - 49:54
1:20 duration257 words

Failure as a Learning Opportunity

In this reflective segment, Payal shares her perspective on failure as a valuable data point rather than an endpoint. She discusses how her early experiences with failure shaped her understanding of entrepreneurship and the importance of resilience.

"years in right three years three isn't three years of stumbling around i mean i went to san francisco in uh in july of 2010 and this is june of 2013. so three years wow one of the quotes from your boo..."

36
49:54 - 51:18
1:24 duration311 words

Balancing Work and Personal Life

Payal opens up about the sacrifices she made during the early years of ClassPass, including missing family events and personal relationships. She reflects on the loneliness that often accompanies entrepreneurship and the wake-up call she experienced regarding her mental health and personal connections.

"but she was the only person i would see outside of people at work you know it was i was living in this like closed circuit world and i don't i don't mind that like as somebody who has been on a missio..."

37
51:17 - 52:10
0:53 duration244 words

Goal Setting for a Fulfilling Life

In this segment, Payal discusses how she developed her goal-setting method after recognizing the need to align her priorities with her values. She shares how this shift led to significant personal achievements, including meeting her husband and successfully organizing a dance show. This highlights the transformative power of intentional goal setting in both personal and professional realms.

"cultivating relationships at that point in my life i didn't have time to and so it was a wake-up call and kind of going back to you know my mom may have been pestering me about it for the years before..."

38
52:10 - 53:30
1:19 duration277 words

The Power of Intentionality

Payal emphasizes the importance of being intentional about one's goals and desires. She discusses how clarity in purpose can open doors and lead to fulfillment, contrasting it with aimless pursuits of fame or money. This segment serves as a reminder that pursuing passion and purpose can lead to a more meaningful life.

"get from that place to living more in line with those values of connection community love and health so i you know i'll the details of like what i did on that session the first time i did it are in th..."

39
53:30 - 54:56
1:26 duration277 words

Finding Balance as a Leader

Payal reflects on her leadership style and the importance of creating a positive environment for her team. She discusses the challenges of delegation and the necessity of building a strong team to achieve success. This segment highlights the evolution of her management approach as ClassPass grew and the importance of focusing on what truly matters.

"but it was just such an important moment because i felt more i don't i don't want to say the word balance because that has so many you know wrong intentions with it but i felt that i was very clear ab..."

40
54:56 - 56:43
1:46 duration381 words

Stepping Away from ClassPass

In this poignant segment, Payal shares her bittersweet decision to step away from ClassPass after a decade of dedication. She discusses the emotional challenges of letting go and the importance of moving forward to explore new opportunities. This moment encapsulates the journey of a founder and the complexities of transitioning from a role that has defined her life.

"what were you like as an entrepreneur as a leader and as a manager of people i would say i was very much i had a lot of positive energy i'm i'm a small human but i i show up with all of me um i am i e..."

41
56:43 - 1:02:07
5:23 duration1184 words

Impact Over Valuation

Payal discusses the significance of ClassPass's billion-dollar valuation, emphasizing that the true measure of success lies in the impact made on people's lives rather than just financial metrics. She reflects on the representation of women in entrepreneurship and the inspiration her journey provides to others. This segment underscores the importance of purpose-driven entrepreneurship.

"is that why you delegated the role of ceo yes absolutely at some point a ceo title becomes a lot of you know managing investors managing team doing press and i was like this is not what i want to be d..."

42
1:02:07 - 1:04:28
2:20 duration495 words

Balancing Love and Ambition

In this segment, Payal shares insights on maintaining romantic relationships while pursuing ambitious goals. She recounts how her partner, Nick, supported her journey and participated in the early days of ClassPass. This discussion highlights the importance of involving loved ones in the entrepreneurial journey and finding harmony between personal and professional aspirations.

"it's a lot of money how does that change things for you um well you know we haven't exited so like the company hasn't been been sold yet so it's still private but um is your stake acquired or your sta..."

43
1:04:43 - 1:06:30
1:47 duration404 words

Navigating Family and Career Goals

Payal discusses the challenges of aligning family life with career ambitions, especially after having a child. She stresses the need for flexibility and adaptability in relationships, encouraging couples to communicate openly about their goals and happiness to ensure both partners thrive personally and professionally.

"of it i think as we've had a kid we've just had to become very clear on priorities right and he is and he's a partner at a law firm he's you know one of the youngest partners at his law firm it's insa..."

44
1:06:30 - 1:08:44
2:14 duration464 words

The Importance of Mental Health

Payal reflects on her experience with therapy during a challenging period in her life, particularly after becoming a mother during the pandemic. She advocates for mental health awareness, comparing it to physical fitness, and emphasizes the need to address mental roadblocks to maintain overall well-being.

"that so it's about saying what does happiness look like to both to us individually but then us together as a family your journey has weaved and up down left right all of it it's been a tremendous roll..."

45
1:08:44 - 1:10:01
1:16 duration218 words

Finding Purpose and Joy

In this heartfelt segment, Payal shares her belief in the importance of aligning with one's purpose to achieve happiness. She discusses how being intentional in her actions and staying true to her passions contributes to her overall joy and fulfillment in life.

"moments where you know if i didn't care about sharing you know my insights and stuff like i could be you know somebody who wasn't happy but i i do things intentionally and therefore how can you not be..."

46
1:10:01 - 1:11:02
1:00 duration244 words

Facing Fears and Embracing Challenges

Payal answers a thought-provoking question about what she would do if she weren't afraid. She reflects on her physical fears and expresses a desire to run a marathon, highlighting the importance of overcoming personal barriers and pursuing challenges that align with her interests.

"up running a marathon thank you so much for your time and your wisdom it's so you're such a breath of fresh air for so many reasons but you're a real source of inspiration and what you've um what you'..."