Mind Pump: Raw Fitness Truth 2302: How to Be a Successful Trainer in 2024 With Jason Phillips
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Mar 28, 2024 Jason Phillips, CEO of NCI, shares his expertise on succeeding as a trainer in the rapidly changing fitness landscape. He discusses how passion and desire should drive your fitness business, challenging the outdated scale model and the decline of coaching quality. Jason emphasizes the importance of client retention over acquisition, navigating financial realities, and adapting to FTC regulations. He advocates for ethical marketing and collaboration to foster a transformative fitness culture, encouraging trainers to cultivate meaningful client connections.
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Evolving Fitness Landscape
- The fitness industry is rapidly changing, with online coaching drastically different than three years ago.
- The old scaling model of selling high-ticket coaching packages is failing due to low profit margins and high burnout rates.
Cash vs. Accrual Accounting
- Jason Phillips explains how coaches collect large sums but don't actually "make" that money due to cash vs. accrual accounting.
- Spending collected cash without considering future service delivery leads to operating from a deficit, creating pressure and bad business practices.
Desire-Driven Business
- Businesses should be built out of desire, not necessity, to avoid financial pressure and poor decision-making.
- Starting small with low overhead allows for organic growth and reduces the risk of scaling prematurely.