HALO Talks: Elevating Wellness
Business
Live from the floor of the March 2023 IHRSA Trade Show in San Diego, host Pete Moore welcomes Laura Munkholm, President and Co-Founder at Walla.
Laura, seven months pregnant with her second child, was running her Yoga 6 location and facing a frustrating lack of insight into her teacher's performance. Determined to find a solution, she partnered with Doug Hecht to create a game-changing product in the face of fierce competition. Laura chats about her journey of identifying frustrations and building solutions from the root cause and shares invaluable lessons learned, the importance of connection and community in entrepreneurship, and the power of understanding diverse perceptions in design.
Regarding the importance of experience and understanding a vertical, she states, "When I looked at competitors, I saw a lot of companies that were either underfunded, undercapitalized, and who had experience but didn't understand what it was going to take to build a competing product. Or, I saw tech people who could raise some money but didn't actually understand the use cases of the industry."
Some key moments:
[00:01:42] Corporate sales career to yoga studio success.
[00:04:32] Yoga industry charges what it's worth.
[00:10:18] Running software company, feature requests, experience, version two, waiting for fixes, asking for sale, MINDBODY and class pass partnership, frustrations.
[00:14:43] "Prioritize feature set based on experience."
[00:19:57] Prioritize salespeople who understand industry and software.
[00:21:11] Successful conversions, exciting new studios, streamlined migration.
A few key takeaways:
Click here to download transcript.
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