Episoder
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238: Balancing Short-Term Wins With Long-Term Success
In this episode of the Your Fitness Money Coach Podcast, we dive into one of the biggest challenges fitness professionals face—deciding between short-term wins and long-term success. Whether you're focused on bringing in cash flow right now or investing in something that could pay off in the future, knowing how to balance the two is key.
Here’s what you’ll learn in this episode:
How to make decisions based on your current financial situation.
When to prioritize immediate cash flow vs. investing in long-term growth.
My own experience of deciding whether to take a speaking course for future opportunities.
If you're looking for practical advice on growing your business today while securing your financial future, this episode is packed with insights you won’t want to miss.
Be sure to check out and register for the 7 Lever Profit System starting October 14th!
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#237:
Calling Robert Kyasaki blunt is an understatement.
The author of Rich Dad Poor Dad argues that if 100 people were given 10K, only 4 of them would know what to do with it.
In today’s show, I dive into what is suspected would happen with the other 96 and what makes the 4 so different.
I also share a story that I’ve never shared before of how I had a chance to find out what would happen if I were a part of this experiment.
I talk about the value of actually knowing what you would do with 10K or any sum of money. We go through some different scenarios and what some priorities might be.
One of the best (or the best) investments you can make is in yourself. It’s hard to match the return you can get by enhancing your skills and adding more value to people which in turn will improve your cash flow and help you build your wealth and freedom.
===>Join the 7 Lever Profit System to Simply Drive More Profit and Cash Into Your Business Month After Month
The 7 Lever Profit System is a 7-week Program that helps you with actionable steps on the unique levers that will add profit to your bottom line and cash in your bank account.
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. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you’d like to discuss how that might look, book a short call with me here!
P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.
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#236:
Fit Pros are generally good at tracking things.
They track sets, reps, and tempo.
When it comes to the numbers, not so much.
My goal for today’s episode is to simplify what to track on the personal finance side.
Peter Drucker said what gets measured gets done.
Getting in the habit of tracking things like your net worth and savings rate can do wonders for your progress. It’s similar to your clients tracking their workouts or nutrition.
Tune in to learn:
What to track
How to calculate it
How often to track it
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. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you’d like to discuss how that might look, book a short call with me here!
P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.
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#235:
The Your Fitness Money Coach Podcast was started in August 2020. While it’s been a ton of work, it’s been one of the most rewarding things we’ve done.
While starting your own show might be your next move, today we’re talking about a way to leverage the power of podcasts in a way that has even less of a barrier to entry - Being a podcast guest may be one of the best ways to “get your name out.”
I’ve been a guest on countless podcasts and overall, they have had a dramatic impact on my business and bottom line.
Today’s guest is an expert in this space.
Sam Brake Guia is the Co-founder of PodWritten, a podcast booking agency for health and wellness businesses, and the host of Mics to Millions, a podcast that shares interviews with top-tier hosts, insights from podcasting expert, and solo episodes to help you grow your health and wellness podcast.
We discuss everything from why podcasting beats posting on social (although you don’t have to stop doing that) to a step-by-step guide to getting yourself booked solid.
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. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you’d like to discuss how that might look, book a short call with me here!
P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.
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#234:
Today’s show was inspired by an article I saw on MSN. It was about the things Warren Buffet says broke people waste their money on.
One of the best strategies to make sure you’re headed in the right direction is to figure out how you can guarantee failure.
Once you learn how to guarantee failure, avoid those things at all costs!
Check out the show to learn the 10 things you’ll want to be careful you’re not wasting your money on.
Some of these things might be robbing you of your future!
If you don’t want to take it from me, take it from Warren, one of the greatest investors of all time!
Here are some great quotes from Mr. Buffet:
“The most important investment you can make is in yourself. That’s how knowledge builds up. Like compound interest.”
“I’m not prude about it, but to quite an extent, gambling is a tax on ignorance.”
“Do not save what is left after spending, but spend what is left after saving.”
Check out the full MSN article.
By the way, if you want to dive a little deeper and make sure your cash is flowing in the right direction, check out the Plan For Profit Workshop happening on 8/29!
Plan for Profit Workshop
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. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you’d like to discuss how that might look, book a short call with me here!
P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.
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#233:
Before you check out the 3 ways to improve cash flow, I wanted to make sure you knew about a special workshop we’re doing on 8/29.
Plan For Profit Workshop
What are some simple metrics by which to run your gym?
They need to be simple because if they’re not, chances are they won’t get used.
In today’s episode, Dam Kleckner and I dive into the important metrics and then some.
In addition to the simple numbers by which to run your gym, Dan breaks down a simple formula for generating all the leads you might need. Paid ads are great but you might want to ensure you’re doing these first.
Finally, Many owners are confused about when and how to expand their business. After tuning in, you’ll have some clarity around additional locations.
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. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you’d like to discuss how that might look, book a short call with me here!
P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.
P.P.P.S. Sign up for the Plan For Profit Workshop here!
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#232:
Before you check out the 3 ways to improve cash flow, I wanted to make sure you knew about a special workshop we’re doing on 8/29.
It’s called Plan For Profit and we’ll be doing exactly that!
Isn’t that exciting?!?
I hope you’ll join us for a time of learning, growing, and improving cash flow!
Check out the webpage for the event or just register here! You’ll receive the access info as soon as you register!
I decided to focus on cash flow for a few reasons.Once, this time of year can be tricky when it comes to cash. It can seem more is flowing out than in and it might even be the case!
This is the perfect time to address the issue head-on and plan for profit!
Second, it’s overlooked.
Many people talk about gross revenue.
Some talk about profit.
The very best know the “magic is in the margin” and for that reason, they focus on cash.
Finally, it’s fun. It’s not about the money itself.
Money is not a goal. It’s a tool to do the things you want.
For those reasons, check out 3 points to look at when thinking about your cash flow.
For a more in-depth look as well as guidance planning for profit, check out the workshop and sign up here
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 need help setting up your business to help you “catch up” financially, book a short call with me here! It’s closer than you think!
P.P.S. If you don’t have clear financial goals and a path to get there, please book a call here.
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#231: Feeling behind financially isn’t a good feeling.
If that’s the case for you, you’re in good company.
Most people in this country are NOT prepared for retirement.
It’s easy to believe the lie that “it’s too late” or “why bother.”
I’m here to tell you that it’s never too late to improve your financial situation.
Just like people can build muscle in their nineties, they can make different financial decisions to improve their future.
I’m hearing more and more stories about people who accumulated a solid nest egg without taking several decades.
I’m not going to lie and say it’s going to be easy but it’s worth it.
I know the feeling all too well as I was definitely a late starter.
In this episode, I share some exact steps and a framework you can use to get started TODAY!
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 need help setting up your business to help you “catch up” financially, book a short call with me here! It’s closer than you think!
P.P.S. If you don’t have clear financial goals and a path to get there, please book a call here.
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#230
Would you rather have hundreds of thousands (maybe millions) of dollars or drive a brand new top-of-the-line car?
Well, that choice might be a reality.
The average new car payment in the U.S. is now a whopping $735.
What could you do with an extra $735 each month?
In today’s show, we dive into the actual cost of new (or even used) car payments.
I am in no way trying to be the fun police so if driving a fancy car is important to you, do you boo.
However, if you’re wondering if there might be a better way to look at cars, these concepts can be powerful.
My goal with this content is not to make it one or the other. You can have a car you enjoy AND build your desired future.
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.
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#231 After over 200 episodes I’m doing something for the first time.
I wanted to present to you an interview I did on another podcast.
The podcast is called Profit Made Simple and the host is Daniel Henderson.
Thankfully, I’ve been on many industry podcasts but I wanted to share this one for 2 reasons.
First, Daniel is Australian and I’m from NY so the conversation might be entertaining just because of that.:)
Seriously, we are both so passionate about finances as they relate to the fitness business that it created a unique conversation.
We tackled topics like:
How to go from debt to financial freedom
Common financial mistakes you’ll want to avoid
Actionable tips to achieve a financially healthy business
How to ensure you stay Fitness Business Money Smart 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.
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#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.
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#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.
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#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.
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#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.
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#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.
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#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.
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#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.
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#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.
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#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 cardSave 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
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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
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