ClassPass adapted to the challenges of the pandemic by pivoting to video and live workouts and focusing on operational efficiency.
The LifePass Method emphasizes the importance of purpose, exploring new experiences, and embracing one's authentic self for personal and professional growth.
Deep dives
ClassPass's journey through the pandemic
ClassPass, a fitness brand offering a platform to sign up for various fitness classes, faced challenges during the pandemic when fitness centers shut down. Despite layoffs and uncertainty, the company remained resilient. They pivoted to video and live workouts and focused on operational efficiency. In 2021, ClassPass was acquired by mindbody. The founder, Palkadakia, reflects on the importance of purpose, resilience, and adapting to change. She also discusses her book, 'LifePass: Drop Your Limits and Rise to Your Potential' and emphasizes the need for people to set goals, explore new experiences, and embrace their authentic selves.
The LifePass Method: Setting goals and embracing authenticity
Palkadakia introduces the LifePass Method, which includes reflecting on past experiences and future aspirations, setting quarterly focus areas, and goal setting. She stresses the importance of having a clear sense of purpose and actively exploring new environments and experiences. Palkadakia also emphasizes the value of embracing one's full identity, refusing to be boxed in by societal expectations or limited self-perceptions. The LifePass Method aims to help individuals navigate personal and professional growth, achieve fulfillment, and make meaningful impact on their lives.
Embracing change and finding opportunities
Palkadakia recounts the challenges she faced as a founder during the pandemic, including layoffs and uncertainty. Despite the difficulties, she remained optimistic and sought opportunities for growth. ClassPass explored new offerings such as live experiences and wellness activities, adapting to the changing demands of their customers. Palkadakia highlights the importance of being open to change, trying new things, and clearing away societal expectations and self-imposed limitations. She encourages individuals to embrace uncertainty, follow their purpose, and navigate through challenges to find success and fulfillment.
Looking ahead: Exploring new ventures and embracing purpose
Palkadakia discusses her future plans and the possibility of pursuing new ventures. She emphasizes that her focus is on impact and purpose rather than chasing solely financial success. Palkadakia reflects on her experiences as a successful founder and dancer, and how her diverse identity played a role in her journey. She encourages others to welcome new challenges, be open to unexpected opportunities, and listen to their inner calling. Palkadakia's book, 'LifePass: Drop Your Limits and Rise to Your Potential' serves as a roadmap for individuals at any stage of their personal or professional lives, providing tools and strategies to achieve their goals and live authentically.
When Payal Kadakia first appeared on How I Built This in June of 2020, the future of ClassPass, a subscription service for in-person exercise classes, seemed very uncertain. The pandemic had shuttered gyms and fitness studios across the world, and ClassPass was relying on virtual events and wellness offerings in order to stay afloat.
This week on How I Built This Lab, Payal returns to talk with Guy about leading ClassPass through the worst of the pandemic and eventually selling the company to Mindbody in October 2021. Plus, Payal discusses her unique method of goal setting and her new book, LifePass: Drop Your Limits, Rise to Your Potential.
Listen to Payal's original How I Built This episode: https://wondery.com/shows/how-i-built-this/episode/10386-classpass-payal-kadakia/