Rice and Cutler have stepped out of their role running the day-to-day operations of SoulCycle, though they remain on the company's board so that they can build another company. The duo was tight-lipped about what they will be doing next, though they did say they will continue working together.
Clearly, Rice and Cutler have found and maintained a successful co-founder relationship. Here are the three must-haves the SoulCycle duo suggest other entrepreneurs look for in a potential co-founder.
1. An "all in" work ethic. "The No. 1 most important thing is super-tactical, and it is work ethic. If you do not have the same work ethic as the person that you are partnering with, that is the No. 1 recipe for disaster," said Cutler.
When you are getting a start-up off the ground, you will be troubleshooting problems at all hours, and you need to know that you can trust your partner to be there.
"Entrepreneurs need to work 24-7. There are no office hours. There is no right time for the pipes to break in your first location. There is no good time for an emergency trip across the country because you might have found your second location," said Rice. "Or your technology is melting down in the middle of the night. Or somebody has hacked your bank account," continued Cutler.