Your Fitness Money Coach Podcast

#230                                                                                                                                                                               We are talking about an exciting topic, paying yourself! Doesn’t that sound good? Far too many gym owners and Fit Pros are either not paying themselves consistently or not paying themselves enough.  Let’s fix that.  This episode is a follow-up to #158 published on 2/28/23. In that show, we discussed: How to systematically pay yourself every month How to determine how much to pay yourself How to give yourself a raise How to balance paying yourself and investing in business growth   This installment discusses the bigger issue of adjusting your mindset to ensure you are paying yourself.  I’m pumped because I know someone’s life will change as a result of this change.   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 are just starting or have been in business for a while but need a reset, book a short call with me here!  P.P.S. If you don’t have clear financial goals and a path to get there, please book a call here.

#229 Travis Barnes spent 10 years behind bars and managed to get out and grow his multi-million dollar company Journey 333 to 5 locations in 5 years.  Today, along with Todd Durkin, he’s developing the Impact-X franchise.  You do not want to miss this episode as it’s one of the most powerful shows we’ve done.  It’s jam-packed with lessons that will improve your life, business, and relationships.  We’ve all experienced adversity in our business and lives and if there is one certain thing, it’s that we’ll experience some more.  While learning marketing and sales techniques are great, the lessons in this podcast are much more important.  Tune in to learn: What Travis can teach us after having “lost” 10 years of his life How he moved through his “dark night of the soul” How to keep an attitude of gratitude regardless of circumstances  A sure-fire tactic to improve in ANY area of life  We’ll be having Travis back for a second installment but please don’t miss the gems contained in this one! 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 are just starting or have been in business for a while but need a reset, book a short call with me here!  P.P.S. Similar to having a good lawyer, having solid bookkeeping is crucial for long-term success. If you’d like your books taken care of so you can gain clarity and focus on what you’re uniquely good at, book a call at this same link.    

#228 Today’s show was inspired by a book I’m reading called Switch by Chip and Dan Heath.  Making a positive change isn’t easy but there are some things we can do to help ensure our success.  One thing we know is helpful is having clarity on where we want to go.  This is worth spending some time thinking about.  As Zig Ziglar said, “If you aim at nothing you’ll hit it every time.” Tune in to learn some specific examples of what a clear financial target looks like.  Learn how to avoid the most common goal-setting mistakes regarding your dough.  We also go through a quick checklist to make sure you’re on track with your financial goal.  I hope this content serves as a gentle reminder to pursue a worthy goal and be able to go with the flow with whatever may come your way.  Finally, I discuss 3 ways to help ensure you stay on track. Setting a goal is one thing but as it’s been said, you get paid for done!  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 are just starting or have been in business for a while but need a reset, book a short call with me here!    P.P.S. If you don’t have clear financial goals and a path to get there, please book a call here.    

#277 Two areas you do not want to ignore as a gym owner are accounting and legal. Good advice in these areas is worth their weight in gold.  It’s a prime example of an ounce of prevention being worth a pound of cure. Whether you’ve been in business for a while or are just starting, understanding the difference between different types of business structures can be confusing and overwhelming.  For that reason, I brought Matt Becker from Gym Lawyers to answer our questions about all things legal.  Just like you shouldn’t ask your dentist to fix your car, don’t ask an unqualified person for legal advice.  You’ll want to make sure you are setting things up properly both to protect yourself and to have the highest chance of success. 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 are just starting or have been in business for a while but need a reset, book a short call with me here!  P.S. Similar to having a good lawyer, having solid bookkeeping is crucial for long-term success. If you’d like your books taken care of so you can gain clarity and focus on what you’re uniquely good at, book a call at this same link.

#226 Today we’re talking about a topic that I’ve barely mentioned but is important to me. In 2012 I was in Todd Durkin’s mastermind. At that time, he had a “Book of the Month” which was recommended.  One of those books was a Jeffrey Gitomer sales book. In the book, Gitomer recommended that readers join Toastmasters International if they were serious about communication and leadership.  I joined immediately and have been a member for 12 years.  We’ll be talking about what Toastmasters is and isn’t, how it benefited me, and my suggestions for you! 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.    

#225 Today’s episode was recorded the day before my Perform Better debut in Orlando, FL.  Multiple times per day, I was asked, “Are you nervous?” Reflecting on that question, I thought it would be fun to share my thoughts.  While it was helpful for me to do so, the real reason is that I believe the way I see it could be useful to you.  While you may or may not have aspirations to speak on your feet, we all have to get uncomfortable if we want to get better. There is no way around that one.  We might as well embrace it since not growing is unacceptable! While it’s true that growth and comfort can’t coexist, there is a way to go about it that is useful and less overwhelming.  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.  

#224 In 1996, a book came out that forever changed the world of personal finance.  I was only 16 years old but a couple of years later, I became certified as a personal trainer through the ISSA.  My first mentor was the owner of the neighborhood gym where EVERYONE worked out their chest on Monday. Frank Rossi had been owning and operating the All Natural Gym and took me under his wing.  I remember members complaining that the equipment was too old and he needed to upgrade. He didn’t let it phase him as he had a plan based on the numbers when he would upgrade.  I was curious then and thought it would be really cool to own a gym one day.  Frank advised me to “save my pennies” and read The Millionaire Next Door by Thomas Stanley.  I saved some pennies but neglected to read the book for decades. I wonder how different things would have been had I read it.  Years later I not only read TMND but I read almost all of Stanley’s books.  In The Millionaire Mind, he studied the mindsets and attitudes of very wealthy people. A disproportionally large percentage of those he studied were entrepreneurs.  7 traits were identified as contributing factors to their wild economic success.  In this episode, we dive into the 7 traits and what they mean to us as fitness professionals.  While there is no guarantee of success, it leaves clues and if we do more of the things that are associated with success, our chances are higher.  Getting up earlier was NOT one of the factors that made a difference. This is contrary to what a lot of people say.  Enjoy listening to the factors that did contribute and better yet, rate yourself in those factors.  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.      

#223:  We all have a certain pattern we follow with money.    That pattern is determined by what’s “under the surface.”   The deep programming under the surface stems back to childhood.    What did your parents or caregivers teach you (verbally and non) about money?   Was money considered “the root of all evil.”    Or maybe it was that “rich people are jerks” or that you can’t have a great family and be successful financially.    What did you see around money? How were money situations handled? Was it a big “taboo?”   Finally, what were the experiences around money?    Maybe the lights were cut off, the car repossessed, or a major job loss.    In today’s episode, we are exploring:   What most fit pros believe about money and why it’s not based on truth A formula for determining your money results A life-changing example from my own life  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.  

#222:  Albert Einstein described compound interest as the 8th wonder of the world.  He said that those who understand it, earn it, and those who don’t, pay it.  Like my man Big Al said, compound interest can either work for you or against you.  For the 56% of US households who say they’d have trouble covering a 1K emergency, it’s working against them.  If we don’t get this problem under control, we’ll disappoint our future selves! Getting compound interest to work for you will help: Eliminate debt - 43% carry an outstanding balance on their card Save for the future - Neglecting to do this might limit options later on Financial Freedom - Eventually, your money can make more money than you can by working Many people believe that they have to borrow money to live.  Others feel like it’s too late.  Find out why both are untrue and how one small step could make all the difference.  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   

Nothing great is ever accomplished alone.  None of us have the time or skills needed to be all we can be.  For that reason, we need the power of other people.  To help us out, I brought the owner of www.barbelljobs.com, Sebastian Gast on the show.  One of the most common struggles I hear is gym owners being burnt out because they are either doing too much and/or they don’t know how to hire.  Not only has Sebastian owned his own club but he has been running Barbelljobs.com, a job board with thousands of members for the last 6 months. Needless to say, he knows a thing or 2 about hiring and retaining talent.  By tuning it, you’ll learn the 3 things you need to be doing when you bring on employees and a detrimental mistake you’ll want to avoid.  ====>Post a job or join the talent network on the website. 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