Your Fitness Money Coach Podcast - Helping Gym Owners Build Profitable Businesses

Contrary to popular belief, building wealth is actually pretty simple. Like fitness, we are led to believe that the formula to success is complex. After studying both arenas for decades, there is no complicated path that is needed. High level athletes and high net worth individuals don't get a secret key with a secret formula to excel when they reach a certain level. On today's bite-sized show, I venture to say that there are only 3 keys needed to become massively successful. I'll share the 3 keys here but you'll want to listen to the show to discover how they might be applied. Discipline - As Jocko says, "Discipline equals freedom." If you want to achieve financial freedom, being undisciplined isn't an option Money - It takes money to achieve wealth. Duh! Listen in for some simple but effective ideas Time - This is the most overlooked. No matter what they say in Tiktok land, building wealth takes time. The average millionaire hits the million dollar mark at age 49. Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. If you or someone you know is looking for a plan to dial in their finances and achieve some financial freedom, book a short call with me here! P.P.S. You can book a call at that same link if you are interested in getting your financials dialed in and efficient with bookkeeping.

There aren't many things in life that are guaranteed but one thing is for certain and that's change. It seems like some of the most important life skills (e.g. listening) have the least amount of training. Change is one of them. For that reason, you're in for a treat today as we do a deep dive into change. My guest, Tim Rhode, author of Changing Lanes, and I discuss this crucial topic. Sometimes change happens to us and sometimes we happen to it. Either way, it's crucial we master it. Listen in to Tim's simple but highly effective process for navigating change. I also love our conversation about creating a life of abundance through simply caring. This is the good stuff! Find out more about Tim's approach at changinglanesapproach.com Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. If you or someone you know is looking for a plan to dial in their finances and achieve some financial freedom, book a short call with me here! P.P.S. You can book a call at that same link if you are interested in getting your financials dialed in and efficient with bookkeeping.

When you distill it down, finances are pretty simple. You can: Make more (This is the one most people focus on) Spend less Invest more Create assets (related to number one) Spending less often is the simplest and most impactful. While spending less isn't always the answer and has its downsides, there are some areas that business (gym) owners commonly overspend on. Listen in to today's show and discover: The 2 problems most owners make around spending The 3 main areas where overspending occurs and what to do about it A simple step to prevent a devastating financial mistake Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. If you or someone you know is looking for a plan to dial in their finances and achieve some financial freedom, book a short call with me here! P.P.S. You can book a call at that same link if you are interested in getting your financials dialed in and efficient with bookkeeping.

Today on the show I have a direct "competitor" of my gym in NY. Kwangsoo Kim is a great guy and owner of Massapequa Fit Body Boot Camp. I wanted to have Kwangsoo on the show because I know his story will inspire you. He made a huge shift a few years ago when he went from working on Wall Street in Manhattan to starting his own club. As they say, timing is everything. He opened his doors in January of 2020, just 2 months shy of the Covid-19 pandemic. To say it's been a roller coaster ride would be an understatement. As is often the case, Kwangsoo wouldn't have changed a thing because of the valuable lessons he's learned. One of them he learned from his previous career on Wall Street. Tune in to hear the lesson as well as other tips that can change your career and life! Learn more about Kwangsoo at: https://kwangsookim.com/ https://www.instagram.com/itskwangsookim/ Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. If you or someone you know is looking for a plan to dial in their finances and achieve some financial freedom, book a short call with me here! P.P.S. You can book a call at that same link if you are interested in getting your financials dialed in and efficient with bookkeeping.

Everyone needs a budget. I know. I know. You've heard me say this before but it's true. Some people make the mistake of thinking they'll start telling their money where to go once they have more. That attitude is akin to the person who says they'll get in shape and then hire a fitness coach. It doesn't work that way. Other than making a case for budgeting, we'll go over some specific strategies you can employ for both your personal and business to unlock massive results. For your very own copy of the Power Spending Plan, I have a gift for you. We also go into the stages of budgeting for your business. Have a listen and see where you would rate yourself. Of course, if you have any issues or questions, don't hesitate to reach out. Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. If you or someone you know is looking for a plan to dial in their finances and achieve some financial freedom, book a short call with me here! P.P.S. You can book a call at that same link if you are interested in getting your financials dialed in and efficient with bookkeeping.

Jason Elkins is the founder of The 100 Cups Academy and 100 Cups Consulting. In today's interview we discuss the idea that you are just one relationship away from massive opportunity. Just like with money, those who find success in business (or anything else) are the tortoise rather than the hare. When you develop your business through the power of relationships, an economic downturn or change in social media algorithm can't derail you. Jason shares many gems with us but here are a few that you'll learn more about. How to connect with anyone you want What to say when you do connect with them How to show up different The most effective way to brand yourself What NOT to do on social media The best way to connect in the digital world Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy

I recently had a great podcast guest, Dr. Thom Golden. As I do with all guests, I asked him for his top book recommendations. Since Thom has a great business with great values, I decided to read both of his recommendations. The first was one I had heard a lot about, The Gap and The Gain by Dan Sullivan and Dr. Benjamin Hardy. The book did not disappoint. Oftentimes, I go into a book, pridefully assuming I know all it's going to say, but then get so much out of it THis was the case here. Whether you've read the book or not, this episode is guaranteed to help you get more of what you want and less of what you don't. Make no mistake. This concept is a battle. It seems we are wired to want more and society praises more. Check out this show for simple methods to help you avoid the trap of "never enough." We'll discuss: My personal never ending quest for more How to properly and effectively focus on growth The solution - How a few minute before bed can change everything Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. If you or someone you know is looking for a plan to dial in their finances and achieve some financial freedom, book a short call with me here! P.P.S. You can book a call at that same link if you are interested in getting your financials dialed in and efficient with bookkeeping.

Today, I have one of the leaders and truly "Good Guys" in the fitness industry. Dan Ritchie brings a wealth of experience. After achieving a PHD from Purdue University, he opened Miracles Fitness which he ran with his partner Cody Sipe for over 15 years before selling it. He then poured his attention into building the Functional Aging Institute, also with his partner Cody. They recently sold the company they started and built to the certifying powerhouse, ISSA. Dan is passionate about helping fit pros develop in their career to make a bigger impact and more profit. He came on for a powerful discussion including: The 2 skills that made the biggest difference in his career Why and how he approached the older market What top gym owners have done to dramatically turn their career around I want to share some important dates and links that were mentioned on the show: Functionalaginginstitute.com Mastermind in Nashville (Surprise guest Billy Hofacker, lol) Oct. 26/27 FAI Summit - 7/12/13 in LA Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. If you or someone you know is looking for a plan to dial in your finances and achieve some financial freedom, book a short call with me here!

There are 2 common mistakes gym owners make when it comes to money. The first is that they make random decisions that don't line up with the bigger picture. They wind up frustrated because they have no filter or system to make money decisions. The other mistake seems better but can be just as bad. Since they have no real grasp on accounting, they don't make any decisions. They just sort of lock up and hope for the best. This is problematic because they miss out on some amazing opportunities and potential for growth. On today's show, I cover how to make accounting simple so that you can: Know what happened in the past Make decisions that will lead to a better future Know exactly where you're going Of course, as always, action steps are given. Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. If you or someone you know is looking for a plan to dial in your finances and achieve some financial freedom, book a short call with me here! P.P.S. Be sure to register for the free webinar on 10/3 where you'll learn the 4 Keys to a Financially Fit Marriage.

Today we have a meaningful conversation with my wife of 15 years, Melissa Hofacker. We sat down and talked all things, money and marriage. Getting on the same page with their spouse has been one of the most game-changing things for my clients. Doing so will lead to the 3Hs (hope, happiness, and health). Part of the steps toward the 3Hs is communication and finances. After diving into wires and boxes and family meetings, you find out how these topics eventually helped a young couple who once almost went to the club barefoot. Of course, as always, action steps are given. Be sure to register for the free webinar on 10/3 where you'll learn the 4 Keys to a FInacially Fit Marriage. Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. If you or someone you know is looking for a plan to dial in your finances and achieve some financial freedom, book a short call with me here!