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

#216: Finances like life are a journey with many ups and downs and twists and turns. The good news is just like life, you can get quite a ways off course, and still recover and finish strong. The older we get, the less true that is. Losing 100% of your net worth at 25 is completely different than that happening at 45 or especially 65. Oftentimes when we are behind, we are more likely to look for the "hail mary." We invest in something we don't understand or put all our hope in crypto. This topic is important to me because I was behind. I had no savings and no plan. I was headed for trouble financially. I followed the principles I share in this episode and they have served me well. Applying the steps outlined in this show allowed me to quite literally become a different person, financially and otherwise. If you're behind financially, join the club! With some simple steps and consistency over time, you can turn things around! 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.

#215: Aaron started his gym like a lot of us do, because he wanted to help people and he saw how fitness helped him. He started on his own after a corporate stint making just a few hundred dollars per month. He put his head down, worked hard, and started making real money. While he built up a great business and developed a positive relationship in his community. There was one problem. He wasn't paying himself enough. He knew things needed to change as he didn't like the money anxiety he was experiencing. Signing up more clients was great but it didn't necessarily fix the stress around it. He decided to get money smart. He improved both his mindset and his money skills. Now Aaron takes home a healthy amount each month, closer to what he's worth. He's got stacks of cash which helps lower stress levels. He's intentional with his money. He now has a more abundant money mindset, and much of the chaos around money has been removed. Check out Aaron's story and how the same strategies that worked for him can work for you. *By the way, Aaron just some numbers as they relate to personal income. Just to be clear, those are what Aaron pays himself in salary. His net owner benefit (NOB) is in 6-figures. 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.

#214: Do you find you find yourself working long hours without feeling like you're moving the needle? If so, you'll want to listen to this action-packed interview with Charles Alexander, creator of the $ Day Work Week. Whether you end up working 4 days or not, there are some takeaways guaranteed to improve your life and increase your profits. Charles and I discuss: The 2 crucial steps to cut at least 4 hours out of your work week while sacrificing zero income loss How to know what your high-value tasks are An exercise to guarantee you don't fall into the dangerous "hustle and grind" mindset Learn more about Charles and his programs at www.YourcharlesAlexander.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.

#213: As per The E-Myth Revisited by Michael Gerber, most business owners start as technicians. For them to move past being the chief cook and bottle washer, they have to learn to improve their systems and create repeatable processes that others can do. The goal is to get to a point where personal needs are met and there is a little extra to take care of others, gain more freedom, etc. Part of that process includes learning to think like an investor. While many people make decisions based on the short term and what feels good, investors think about the long term. Charlie Munger said, "Most people are too fretful, they worry too much. Success means being very patient, but aggressive when it's time." Some of the characteristics of those who think like investors are: They know the best path isn't always intuitive They balance their decisions for both short and long-term gains They understand math They know how to view others They invest in what they understand By listening to Think Like an Investor, you'll learn actionable steps on how to think and make better decisions today. Your current and future self will thank 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. Remember there are no successful fitness business owners who don't have accurate financial records and reporting! It's an absolute game-changer and one of the best things you can do.

#212: Stephen Covey said to begin with the end in mind. I can't think of a better place to do that than with pricing. It's always sad to see fitness business owners with broken models to the point that even if they filled up their schedules, they wouldn't be bringing home what they need. For that reason, I decided to break down some simple strategies to help you avoid the pitfalls of poor pricing. "Poor pricing produces poor profits." -Billy Hofacker Here's what you'll learn: What is the "common" rate in your area? What are you worth? Your desired rate Justifying your rate 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. Remember there are no successful fitness business owners who don't have accurate financial records and reporting! It's an absolute game-changer and one of the best things you can do.

Some people think that you can't start building wealth until you have a big income. I'd argue that it starts much sooner than that. As Stephen Covey says, "Start with the end in mind." Contrary to popular belief, there are plenty of things to do in order to improve your money situation regardless of your current income. In fact, in this episode, I break down an exact strategy of what you can do whether you're making: 30K or less 50K 100K or more Simply do or improve the suggested steps and watch your money grow (over time). 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. Remember there are no successful fitness business owners who don't have accurate financial records and reporting! It's an absolute game-changer and one of the best things you can do.

#210: Can gym owners become wealthy? While most do not, with a shift in mindset, the attainment of some crucial skills, and time, it is certainly possible! This is an important conversation that needs to be heard. Whether you are in the early stages of gym ownership or are further along you will both be inspired and educated with ideas to speed up your financial journey! Here is some of what you'll learn: The 4 areas you can invest in The median gym owner salary (it may shock you) Chris' number one habit for success (anyone can do this) The most important factor to address to get to the next level The 3 skills needed to increase your salary Important links: Two Brain Business Millionaire Gym Owner Book Gym Owners United Facebook Group 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.

#209: Seran Glanfield from www.springthree.com brings the fire as we talk about all things boutique fitness studios. The interview is loaded with actionable steps to help you improve but here are 3 highlights. We talk about the importance of putting yourself in a position of power where you can make decisions that will serve you best. Next, we talk about the best practices for fitness business owners to grow a business they are proud of. Finally, we discuss the crucial aspects of the client journey, the 3 legs of the business stool, and the simple process you need to develop to have clients finding you, happy to pay what you charge, and stay for a long time! 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.

#208: I know you're going to enjoy my conversation with Curtis Christopherson. Curtis used what is now known as house hacking to raise money for his first gym. He was just 22 years old. As owner of Innovative Fitness, Curtis oversees 16 locations, with a focus on one-on-one and one-on-two! Find out how Curtis packs his gyms with people paying over $800 per month for personal training and keeps them for over 6 years! Here are some of the takeaways you'll gain from listening: How your attitude in anything is your attitude in everything The two non-negotiable things to scale your business Where the industry is headed and why you might want to change your messaging Find out more at www.curtischristopherson.com or www.Wrkout.com. Also, follow Curtis on Linkedin and Instagram. 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.

#207: Josh Leve oversees the FBA Succeed Conference, the largest virtual fitness business conference in the world. Josh has fitness industry event planning in his blood as his father and grandfather were both highly involved with IHRSA. It was a great conversation as we discussed how trainers ranging from newly certified to seasoned pros earning a healthy 6-figure income can benefit from virtual education. Josh offered some tremendous insight but my personal favorite is a lesson he shared towards the end. Be sure to listen to this show in its entirety. 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.