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

John Briggs, author of Profit First For Microgyms, joins me to discuss Profit First and how it relates to gym owners. Check out this episode and get your finances on track. You work too hard not to benefit financially. If you listen to this episode, you'll hear the following mentioned: Successful gyms have multiple revenue streams Profit First for Microgyms The difference between microgyms and globogyms Why nutrition is a good service post-Covid Most owners aren't paying themselves enough Why being a fitness professional is one of the most important job "Profit is the necessary fuel for a viable business." 6 figure take home pay is very possible 20-30% margin is possible but most have 5-10 How Profit First helps to get past Parkinson's Law Why you need to sometimes cut sessions The first step is doing whatever you can to pay yourself what you need Other funds (e.g. equipment account) can be used for emergencies Once your equipment funds has enough, you can stop transferring Don't open a second location without maximizing the first Once you've got a fully funded reserve account, the fun begins Fix This Next How to win Friends and Influence People Primal Leadership Profitfirstformicro com Contact Billy directly about possibly doing coaching with him, visit https://yourfitnessmoneycoach.com/coaching-with-me/ and fill out the form. Listen/Subscribe to the show here: My podcast page Your Fitness Money Coach Itunes Spotify IHeart Stitcher Google RSS You can also search for the Your Fitness Money Coach podcast on major podcast apps.

We're diving into Part 2 of the Good to Great series. Today's topic is a principle from the book, First Who Then What. The G2G companies focused on getting the right people in the right seat on the bus. If you listen to this episode, you'll hear the following mentioned: "The magic happens during the plateau." – Billy Hofacker Dick Cooley from Wells Fargo was relentless about getting the right people Darwin Smith from Kimberly Clarke, a level 5 leader, was willing to sell off a huge part of the business because it wasn't producing You can't grow faster than your ability to hire the right people Put the best people in the best opportunities Compensation wasn't a factor in the G2G companies How can you help your team perform? Contact Billy directly about possibly doing coaching with him, visit https://yourfitnessmoneycoach.com/coaching-with-me/ and fill out the form. Listen/Subscribe to the show here: My podcast page Your Fitness Money Coach Itunes Spotify IHeart Stitcher Google RSS You can also search for the Your Fitness Money Coach podcast on major podcast apps.

This episode called The Power of Systems, I interview Doug Spurling, owner of Spurling Fitness. Doug delivers a ton of value ranging from using systems to maximize speed and efficiency to the importance of taking action. Have a listen. This is one you won't regret. If you listen to this episode, you'll hear the following mentioned: How Doug decided on a real estate investment that aligned with his vision How and why Doug diversifies his time How Doug achieved success relatively quickly Episode 52 – Real Estate Success - An Interview with Nick Lamagna How Doug paid off hundreds of thousands in student loans How Doug lost 100 pounds How Doug lost his mother at age 52 which created a sense of urgency Ready, Fire, Aim Doug started with no money or financial education How to stay focused and not getting discouraged How your take home pay factors in Episode 41 – The Talk – Communicating with Your Partner About Finances The importance of taking risks More coaches = More growth Identifying blind spots You are who you surround yourself with The E-Myth Revisited The pros and cons of systems The top 2 Financial Systems Avoiding debt doug@spurlingfitness.com com/dougspurling1 com/dougspurling1 Contact Billy directly about possibly doing coaching with him, visit https://yourfitnessmoneycoach.com/coaching-with-me/ and fill out the form. Listen/Subscribe to the show here: My podcast page Your Fitness Money Coach Itunes Spotify IHeart Stitcher Google RSS You can also search for the Your Fitness Money Coach podcast on major podcast apps.

This episode called Good to Great, I begin a series of bite sized episodes on the classic book Good to Great by Jim Collins. Each episode will highlight a teaching from G2G. In this first episode, we discuss what Collin calls level 5 leadership. This is one of the most surprising findings from Collins' extensive study of great, enduring companies. The type of leadership behind them is not what many would think. If you listen to this episode, you'll hear the following mentioned: Darwin Smith of Kimberly-Clark Level 5 leaders are humble and determined The Window and the Mirror Level 5 leaders or all about greatness for the organization If you're breathing you're a leader Contact Billy directly about possibly doing coaching with him, visit https://yourfitnessmoneycoach.com/coaching-with-me/ and fill out the form. Listen/Subscribe to the show here: My podcast page Your Fitness Money Coach Itunes Spotify IHeart Stitcher Google RSS You can also search for the Your Fitness Money Coach podcast on major podcast apps.

This episode called Real Estate Success, I interview Nick Lamagna. I believe it's important to learn the basics of real estate for anyone looking to get money smart. We discuss what we need to know about real estate from a buying and selling standpoint, different ways to invest in real estate, and even some self development principles like overcoming adversity. If you listen to this episode, you'll hear the following mentioned: Nick's background in BJJ and real estate Rich Dad Poor Dad How Nick dealt with a life altering accident Considerations when buying or selling How interest rates work and why they matter How house hacking works Hard money lending Wholesaling The One Thing Reverse engineering your goal The A Game Podcast com com/links Contact Billy directly about possibly doing coaching with him, visit https://yourfitnessmoneycoach.com/coaching-with-me/ and fill out the form. Listen/Subscribe to the show here: My podcast page Your Fitness Money Coach Itunes Spotify IHeart Stitcher Google RSS You can also search for the Your Fitness Money Coach podcast on major podcast apps.

This episode called Money Mindset – The Secret to Your Financial Success, features part of a talk I did for a world class training facility. Doug Spurling had me come in and talk to his team about personal finance. Some really useful topics were discussed. In this episode, I highlight Money Mindset as well as some steps to take whether you are beginning or recommitting to your financial journey. If you listen to this episode, you'll hear the following mentioned: Spurling Fitness Where our Money mindset comes from The importance of going all in How to know where to begin Contact Billy directly about possibly doing coaching with him, visit https://yourfitnessmoneycoach.com/coaching-with-me/ and fill out the form. Listen/Subscribe to the show here: My podcast page Your Fitness Money Coach Itunes Spotify IHeart Stitcher Google RSS You can also search for the Your Fitness Money Coach podcast on major podcast apps.

In this episode called The Language of Business, I interview Mike Freeman, CPA. We discuss a topic that may not be what you thought you were getting into when you started but is of utmost importance, accounting. We discuss some important topics that can have a tremendous impact on your business and life. If you listen to this episode, you'll hear the following mentioned: The 4 types of business entities Where an LLC falls into the mix The professionals you need to have a relationship with when you're starting or growing a business What qualities to look for when hiring an accountant The habits of the financially successful How you can have profit and no money in the bank "You can have profit and no money in the back which happens often." – Mike Freeman How to have more piece of mind Depending on how your business is set up, you may or may not be able to write off certain expenses Total Money Makeover by Dave Ramsey Financial Peace by Dave Ramsey REIMERFREEMAN.COM Contact Billy directly about possibly doing coaching with him, visit https://yourfitnessmoneycoach.com/coaching-with-me/ and fill out the form. Listen/Subscribe to the show here: My podcast page Your Fitness Money Coach Itunes Spotify IHeart Stitcher Google RSS You can also search for the Your Fitness Money Coach podcast on major podcast apps.

In this episode called Investing in Yourself Vs. Building Wealth, I explore the tension between investing in yourself, reinvesting in your business, and building wealth. While there isn't necessarily a one size fits all formula, you'll hear tips that are guaranteed to help you balance this tension in your own life and business. If you listen to this episode, you'll hear the following mentioned: A conversation with my friends Justin Yule and Nate Stowe "An investment in knowledge pays the best interest." –Benjamin Franklin How can you invest in yourself or your business? Your income is your greatest wealth building tool Your stage or level will dictate how you approach this An example from Silicon Valley One strategy is basing allocations based on percentages Contact Billy directly about possibly doing coaching with him, visit https://yourfitnessmoneycoach.com/coaching-with-me/ and fill out the form. Listen/Subscribe to the show here: My podcast page Your Fitness Money Coach Itunes Spotify IHeart Stitcher Google RSS You can also search for the Your Fitness Money Coach podcast on major podcast apps.

In this episode called Reducing Your Drains, I discuss the importance of simplifying your life in order to win financially. I cover what is meant by reducing your drains and share very practical steps to improve your financial picture. If you listen to this episode, you'll hear the following mentioned: Episode 47 – Staying Financially Focused in 2021 Fixed Vs. variable expenses Check into bundling insurance policies Eating out less can make a difference Don't let your 35 year old lifestyle cramp your future goals Contact Billy directly about possibly doing coaching with him, visit https://yourfitnessmoneycoach.com/coaching-with-me/ and fill out the form. Listen/Subscribe to the show here: My podcast page Your Fitness Money Coach Itunes Spotify IHeart Stitcher Google RSS Youtube You can also search for the Your Fitness Money Coach podcast on major podcast apps.

In this episode called Staying Focused in 2021, I discuss the mindset needed to stay financially focused, practical tips on doing so, and powerful stories to help you with this most important area. If you listen to this episode, you'll hear the following mentioned: Your vision can and should expand as you grow Warren Buffet article Craig Groeschel Leadership Podcast Turn off the notifications, unsubscribing, and clearing your area can help you stay focused Greenlights by Matthew McConaughey Contact Billy directly about possibly doing coaching with him, visit https://yourfitnessmoneycoach.com/coaching-with-me/ and fill out the form. Listen/Subscribe to the show here: My podcast page Your Fitness Money Coach Itunes Spotify IHeart Stitcher Google RSS Youtube You can also search for the Your Fitness Money Coach podcast on major podcast apps.