Эпизоды
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When business gives you lemons, make lemonade.
This week, Matt was sick and Chris was dealing with a technical emergency. Matt and Chris are real-life business owners, and sometimes crises happen.
We’ll be back with you next week with another long podcast, but we thank you for your listenership. We’re excited to grow this podcast into something great, even despite weeks like this.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Are you a business owner feeling overwhelmed by the daily chaos? Do you dream of scaling your business but feel stuck in the weeds? In this episode of Build Your Business, we dive deep into the power of systems and Standard Operating Procedures (SOPs) to transform your business from a chaotic mess to a well-oiled machine.
From Chaos to Control - The Power of Systems in Business
Even the simplest tasks deserve a documented process and how building these foundational systems can unlock unprecedented growth. Learn how trusting your team and strategically planning for the future are crucial for scaling. We also touch on the client lifecycle and the importance of customer experience.
Building Your Business Foundation: SOPs, Teamwork, and Strategic Growth
Learn practical steps to create effective SOPs, starting small. Understand why trusting your team and delegating are essential for your focus on strategic initiatives. Explore why documenting systems is crucial for scaling and efficiency. Discover why founders struggle to let go and the importance of setting a high quality bar. Learn about strategic planning for growth, including the CMO's role in acquisitions.
Scaling for Success: Customer Experience, Feedback Loops, and Continuous Improvement
Learn how to focus on customer experience through well-defined systems. Explore the importance of internal experience in product development and the power of feedback loops for continuous improvement. Discover why manual processes should precede automation. Understand why SOPs are living documents that evolve. Explore the role of technology in creating and managing SOPs. Learn how fostering ownership among employees builds accountability. Understand the CEO's evolving role as the company grows.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Пропущенные эпизоды?
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Conquer distractions, unlock focus, and discover the transformative power of deep work for business owners and entrepreneurs. Learn practical strategies to cultivate focus, eliminate distractions, and build effective routines for maximizing productivity and achieving sustainable success. This is a must-listen for anyone drowning in urgency, struggling to complete their to do lists and achieve their goals, and looking to unlock their full potential.
Learn Deep Work Strategies for Business SuccessThe Importance of Deep Work in Business Ownership: Discover why deep, focused work is essential for achieving significant results and outpacing the competition. Matt and Chris explain how prioritizing high-quality work over busywork can lead to exponential growth.
Conquering Distractions: Learn actionable techniques to minimize interruptions and create an environment conducive to deep concentration. They discuss the myth of multitasking and emphasize the power of single-tasking for enhanced productivity.
Building a Daily Routine for Productivity: Explore the crucial role of a structured daily routine in supporting deep work. Matt and Chris share tips for designing a schedule that optimizes your energy levels and maximizes your focus time.
Time Management & Energy Management: Understand the connection between effective time management and energy management. Learn how to identify your peak performance times and schedule your most demanding tasks accordingly.
The Power of Intentional Work: Discover the importance of approaching your work with intention. Learn how to prioritize tasks, avoid reactive work, and focus on activities that truly move the needle.
Scheduled Thinking & Brain Dumps: Explore the benefits of incorporating scheduled thinking time into your routine. Matt and Chris discuss how brain dumps can clear mental clutter and facilitate smoother transitions between tasks.
Deep Work vs. Reactive Work: Learn to differentiate between deep, focused work and reactive task management. Understand when to prioritize deep work and when to address urgent but less impactful tasks.
Team Collaboration in High-Pressure Situations: Discover how deep work principles can be applied within a team setting, especially during high-pressure situations. Learn how to balance individual focus with collaborative efforts.
The Value of Short Sprints of Intense Focus: Explore the power of short bursts of intense concentration (like the Pomodoro Technique) for achieving significant progress.
Building Momentum Through Small Tasks: Learn how to leverage small wins to build momentum and maintain motivation.
Continuous Improvement: Matt and Chris emphasize the importance of regularly reviewing and adjusting your work routines to ensure ongoing effectiveness.
Apply These Deep Work Strategies for Business Success TodayStart implementing these deep work strategies NOW. Identify one action you can complete today, and prioritize doing that today and every day going forward.
Don’t forget some of the below ideas when you begin to implement:
Time is your most valuable resource. Protect it by prioritizing deep work.
Multitasking is a myth. Focus on one task at a time for optimal results.
Deep work is essential for achieving outsized success in business.
Identify your most impactful tasks and dedicate your deep work time to them.
Scheduled thinking and brain dumps are powerful tools for enhancing productivity.
Intentional work prevents reactive task management and keeps you focused on your goals.
Good luck on implementing these deep work strategies for business success!
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Time is your most precious resource. You can make more money and you can work harder, but you cannot make more time. We all have 24 hours in a day and we all have a finite amount of days to live (we will die). Make the most of your time, and learn how to leverage effort and money to open up as much time as possible in your life.
Time Is Your Most Precious Resource: Can’t Create MoreYou have three resources you can pull from: time, money, energy.
You should work hard. This is a must as an entrepreneur. Do the work.
If you are young or poor (and often they go together) you will have to spend more time doing things for yourself.
As you grow older and more experienced, hopefully you have made more money. You need to buy back your time, using money to free up time.
This means paying for others to take care of urgent, non-important tasks, both high skill or low skill. This helps you avoid drowning in urgency.
Time is Your Most Precious Resource: MED for Maximum ImpactYou need to consider the likely impact on the business and likely investment of resources. Rate each on a scale of 1-5.
If there are low resource, high impact actions you can take, these are no brainers. Do them. Now.
High resource, low impact actions you should avoid.
The harder choices are the high resource, high impact or low resource, low impact actions.
Where many owners may not think clearly here is with sunken costs. Oftentimes, certain clients suck energy, time, and money out of your business but put little money into the business. Fire these people. Hire more clients like your best clients that take the lowest number of resources.
Time is your most precious resource. Leverage it and other resources intelligently for the maximum impact on your business.
#BusinessGrowth #CoachingTips #ClientSuccess
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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When Work is Your Passion, Work Feels Like Play
You spend a lot of life at work. If you’re an entrepreneur, unless you plan to fail, you will spend more than most people at it.
Don’t do something you hate. Don’t blindly do something you think you love.
As you practice something, you tend to love it over time. You will not know unless you expose yourself to different things and pursue them with some real effort.
What it Takes to Succeed: Be An OutlierMost businesses fail. If you do what everyone else is doing, you will get the same results.
Working hard and intelligently at something over time will set you apart.
Remember you’re not a technician as an owner. You need to understand your field, read, expose yourself to new ideas, think about where your business needs to go, and call up customers and prospects and learn about their pain points.
When work is your passion, work feels like play.
How to Make Work FunLearn to love what you do. Engage deeply with problems and the pain points. See these as the primary things you were put on earth to solve.
Become the world’s leading expert in something. Truly master something - become excellent in this thing.
Pair things you already love with this, for example coffee, walking, traveling, etc.
We often think work is worse than it is. It is not pleasurable every moment. But lean into the challenges and truly embrace the pursuit.
When work is your passion, work feels like play.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Core values serve as guiding principles that help individuals and organizations make decisions aligned with their highest ideals. They are incredibly important, and should not be posted on the wall and forgotten, but known by all and followed by all. Core values must be reflected in the company culture, hiring process, and leadership.
Why Core Values Matter:Core values define the highest ideals for yourself to act. They serve as guidelines for goals, actions, and other decisions.
These will drive actions. They will provide a standard to guide hard decisions.
Core values should align with who you are and what you believe in. Don’t create core values that you can’t live up to.
These need to be reflected in your company culture. They cannot be posted on the wall but known by no one. You cannot ignore them. If someone is exposed to your business, will they say that your core values are reflected in their interaction with your company.
How to Identify Your Core ValuesEven if you do not know your core values, you have them.
Identify attributes that you find attractive or motivational (or, find features that bother you). You might also think about your legacy and how you want to be seen. If you have someone who can speak honestly to you, you could see how they see you now.
You might think about things you regularly do or need to do and post them up quickly on a wall. Start to group these activities. You can begin to see values that you follow.
Once identified, you should prioritize them. Once you have your core values identified and prioritized, you can begin to develop your GAMEplan, which will move you from where you or your company are now to where you want to go.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Be a person of action and officially start your business today with these easy steps:
File articles of organizationObtain an EINOpen a business bank accountStarting a Business: 3 Steps to Do TodayMatt and Chris Reynolds discuss the essential steps to starting a business, emphasizing the importance of taking action and not just acquiring knowledge. They outline the three primary steps to officially start a business:
Filing articles of organizationObtaining an EINOpening a business bank accountThe conversation also covers the significance of choosing a business name, managing finances, and the tax advantages of being a business owner. The hosts encourage listeners to take immediate action and set goals for their business in the new year.
Be a person of action, open your business today!
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Starting a business feels risky, overwhelming, and downright scary—but it doesn’t have to be. In this episode of the *Build Your Business Podcast*, brothers Matt and Chris Reynolds draw on nearly 40 years of combined experience to reveal how they went from fear to freedom in their entrepreneurial journeys.
Discover practical steps to balance your day job while building your dream business. Learn why "safe" jobs aren’t as secure as they seem, how to assess real risk, and the secret to setting yourself up for success—even before you quit your 9-to-5.
Hear Matt’s story of turning a passion for lifting into a thriving gym business and Chris’s transition from a secure tech career to building software companies from scratch. Packed with personal stories, actionable advice, and inspiration, this episode is your roadmap to overcoming fear and taking control of your future.
If you’ve ever wondered, “Is it worth it to start my own business?”—this episode will give you the confidence to make the leap.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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You are responsible for the financial health of your business, so you must have a good handle on your business's finances. This includes understanding basic business metrics that matters, using leading indicators, and ensuring a profitable business. We walk you through mastering financial management for business owners.
Have a Good Handle on Your Business's Finances
You must understand, in real time, where money is going in and out of your business. You cannot delegate this to someone else (and early on, you cannot afford to have someone else manage this any way).
What is your top line revenue? What is your net profit, gross profit, etc. Matt discusses these business metrics that mattered here.
If you do not understand what is going on in your business financially, you will get surprised.
The metrics you assess need to be leading indicators, not lagging indicators. For example, Matt used an accountant for Barbell Logic that would give the financial numbers for the previous month two weeks after the end of the month. This is too late to course correct.
Mastering Financial Management for Business Owners: Profit FirstMatt and Chris love the approach outlined in the book Profit First, which helps you better understand your business's finance and helps you ensure your business creates profit.
You organize the money in your account, either using a bank account that lets you create sub-accounts or using something like YNAB where you can assign purposes to the money.
You must assign money to profit. Start with 1%. The point is it helps you build the habit of assigning money to profit. You need to increase this percentage over time.
You can end up paying yourself the profit or strategically reinvesting it into the business.
The other areas to assign money toward include:
RevenuePayrollOperating ExpensesTaxes (don't let this one surprise you)How to Get Your Business LeanA key action in mastering financial management for business owners is getting lean.
You almost certainly want to increase your revenue, but this takes time, usually comes with cost, and takes time.
The fastest way to get profitable, the MED way, is to cut costs, specifically in operating expenses (as opposed to cost of goods or payroll).
You have to keep your business from burning cash and keep it there.
Negotiate costs for subscriptions. Most of the time you can email a business that you plan to cancel something, and they will offer you a discount.
If you have not been using a service, you also can often cancel it effectively some time in the past.
Using 1099 contractors can help reduce costs as well.
You have to master financial management of your business. It may be hard, but it is crucial and worth the time and effort.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Matt and Chris discuss the merits of bootstrapping a business versus seeking external funding.
Why You Should Bootstrap Your Business: 3 Levers to PullA business owner has 3 levers to pull to push the gas pedal: time, effort, and money (or capital).
Early on, you need to maximize time and effort and use the company's revenue to build the budget. This is what bootstrapping is.
You are going to have to work long hours, work hard and efficiently.
You will need obsessive drive to push you along the path for decades.
Why You Should Bootstrap Your Business: Pressure is GoodAs a business owner, you have to get used to stress. This stress is good and will drive you to improve yourself (as owner, manager, and technician) and the business.
If you take on money, it is easier to not feel the pressure. This is bad. You should feel the pressure early on. It will help motivate you to push harder and think creatively.
You will build excellent habits during this period and great habits within the business. These habits will carry on if you take on debt or investment.
Why You Should Bootstrap Your Business: Maximum FlexibilityOnce you take on equity, it is harder to pivot the business to potential opportunities.
Your idea is going to have to change. Iterating intelligently will improve the business. Don't be wedded to the initial idea, but be open to change as you learn more about the business and the market.
It is much harder to do this if you have to justify pivots to a board.
Learn why you should bootstrap your business.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Not everyone is cut out to be an entrepreneur, but you might be. If you're a great technician and want to start a business, you will have to become a good manager and owner to run a successful business.
Passion Project or Potential Business: Master Your Craft
Matt and Chris stress that in order to run a successful business, you have to learn how to manage and own that business. First things first, though. Do you have a great product or service? You have to be a great technician.
You may be an electrician, cook, coach, developer. If you start your own business, you own the business and you manage the business.
Before this, though, you need to master your craft.
This does not mean you're world class, but you have to have a solid understanding of the technical aspects of the business. This foundation helps you become a better manager and owner.
Passion Project or Potential Business: Technician to Manager
MBAs usually make bad managers. You want an A player who is a good technician who shows the potential and desire to manage other technicians.
As a manager, you are leading technicians. You help make them more effective, get them resources they need, and train them.
Eventually, you are training and identifying potential managers and training them.
This is a hard skill that Matt and Chris think no one has innately. It is important, however, if you own your business to be a good manager.
Passion Project or Potential Business: Owning Your BusinessBeing a good owner means working on the business, not in the business.
Working in the business is being driven by day-to-day urgent tasks. Ultimately, you're not free, but chained to the needs of the business. You do not own the business, the business owns you.
You have to be thinking of how the business can become better, more profitable. This means understanding business trends, looking into the future, casting a vision, and communicating your ideas to your employees.
At first, you're the only employee. You still have to do this, or your business will fail.
Do you have a passion project or potential business!? It could be, but the hard-earned wisdom of Matt and Chris can help you make a better decision and execute that decision better.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Essential Tools for Productivity: Time Saving Products, Services, & Hacks
For both Matt and Chris, noise-cancelling headphones help them focus, at home or on the road, and get important and urgent work done efficiently.
Matt loves the Jabra elitesChris loves Sony's over ear headphonesToo many look myopically to save money, when they eat up too much time (which loses them money) and have things done poorly.
Matt and Chris both recommend hiring people for the menial tasks (shoveling the driveway, cutting firewood, grocery delivery, lawncare) and the high skills tasks (building a website, designing a logo, etc.).
Intelligently investing money in these areas saves you time in the long-term and makes you more money in the long-term. Ultimately, in both case you will see more value, in your life and business.
Essential Tools for Productivity: Leverage AI
If you're not using AI, you need to. Lots of cool AI tools exist, that help save you time in different ways.
Fireflies: great notetaking service for video callsReflect: Chris uses as a one stop shop to reflect, keep notes, and improve his productivityClaude: can upload different documents that can inform the AI - great way to have complex code explained to youChatGPT: best for quick general knowledge responses, web search capability, and quickly writing things based on prompts
Essential Tools for Productivity: Books & PodcastsMatt and Chris both love to use the combination of Kindle and Audible to consume books. They synchronize, so if you listen to a book in Audible and then later read it in Kindle, you will pick up where you last left off in Audible.
If they book is excellent, they buy a physical copy as well.
Below are some of their favorite books:
Founder Brand - discussed on Build Your Business #2Never Enough - how someone transformed his life$100M Leads - effective marketingBuy Back Your Time - just like it soundsE Myth Revisited - best book for beginning business ownersThe Hard Thing About Hard Things - better book for more seasoned founders on the crappy parts of being an ownerBelow are some of their favorite podcasts:
Founder PodcastAll In Invest Like the BestMy First Million
Essential Tools for Productivity: SleepMatt cares about sleep. You should too. Below are some of his favorite gadgets (general and branded).
Eight Sleep: expensive, but you spend 1/3 of your time sleeping and this transformed his sleep quality; if you can afford it, buy itManta Mask - great for naps and sleeping on the roadBlack out shadesWeighted blanketCoop Pillows
Essential Tools for Productivity: Health & FitnessWhether it's fitness or hygiene, taking care of yourself helps you take care of your business. Don't short yourself here.
Invest in a home gym - start smallMight Patches blemish patchesAlcohol wipesBreathe Right Maximum Strength nose stripsToppik hair fibersRenpho body measure tapeRenpho smart scaleHello Tushy bidets
Essential Tools for Productivity: Food, Coffee, CookingIf you regularly do something (drink coffee, cook, etc.) then you should spend some money making that task easier and more pleasurable. This applies to the kitchen as well.
Buy good, locally-roasted whole bean coffeeWhole Latte Love - For really nice espresso and coffee equipment, check outNordic Ware big bake sheets
Essential Tools for Productivity: Content CreationIf you're going to create content or regularly be on business video calls, you need to invest in high-quality microphones and cameras. It will make you stand out.
Shure MV7 USB MicrophoneSony ZVE 10 cameraSigma Contemporary Multi-Layer lensHerman Miller chairsPS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Building a compelling Founder Brand rooted in authenticity and storytelling can help entrepreneurs attract clients and grow their businesses. Follow these actionable strategies for overcoming fear, creating consistent content, and shifting focus from price to value to stand out in a crowded market.
The Concept of Founder BrandingPeople connect with people, not brands. A founder’s personal story serves as the essential bridge between the audience and the brand, helping to build trust and relatability. Examples such as Steve Jobs, Elon Musk, and Jeff Bezos highlight how a founder’s narrative creates a lasting impression that draws people in.
Authenticity and Vulnerability
Sharing personal challenges and failures, such as overcoming setbacks or navigating struggles, allows others to see the human side of the business. This openness fosters deeper connections and builds trust.Overcoming Fear of VisibilityMany business owners hesitate to put themselves out there due to fear of judgment or criticism. The episode stresses that confidence comes with practice and consistency. Facing those fears head-on is the only way to grow and establish a meaningful presence. When it comes to choosing platforms for content, the discussion outlines strategic options: LinkedIn and X (formerly Twitter) are ideal for B2B, while Instagram, Facebook, TikTok, and X work well for B2C. The recommendation is to start with one platform to ensure consistency before expanding to others.
Choosing the Right Social Media PlatformsContent creation strategies are also a major focus. Drawing inspiration from daily activities, customer interactions, and common questions provides a steady stream of relevant material. Long-form content, such as podcasts or blogs, can be repurposed into shorter clips for social media to maximize reach. Repetition is encouraged, as most audiences won’t see every post, and consistent messaging helps reinforce key ideas. Finally, the episode addresses the importance of being selective with your audience. Having a clear point of view, even if it repels certain people, ensures alignment with the right clients and saves time by filtering out those who aren’t a good fit. Trust, built through consistent, value-driven content, ultimately leads to stronger conversions and long-term success.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Focusing solely on price can lower the value you receive, cost you money, and harm your business. As a business owner pricing your services, you do not want to be on the low-end of the available prices.
In this episode of the Build Your Business podcast, Matt and Chris Reynolds dive into why focusing solely on price can ultimately harm your business. They illustrate how prioritizing value over cost leads to better outcomes, using examples of hiring experts versus cheaper options and how paying for experience can save both time and money. As a business owner, it's essential to avoid competing on low prices, as it leads to a race to the bottom. Instead, they emphasize valuing your time, delivering exceptional value to customers, and working with companies that bring true expertise. Excellence, not cheap rates, drives long-term business success.
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Barbell Logic Links
Website: https://barbell-logic.com/
Instagram: https://www.instagram.com/barbell_logic/
Facebook: https://www.facebook.com/barbelllogiccoaching/
X: https://x.com/BarbellLogic
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
See how much you could be making at https://turnkey.coach/5x
Check out our Coaching Kickstarter eBook to accelerate your coaching career
If you're interested in improving your coaching practice and making 5x your current dollar-per-hour earnings, go to https://turnkey.coach/coaching-rediscovered/
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TIMESTAMPS:
00:00:00 - Intro to Build Your Business Podcast00:00:28 - Purpose of the Podcast and Hosts' Experience
00:02:00 - Value vs Cost in Professional Services
00:05:10 - Expertise and the True Cost of Inexperience
00:09:48 - Investing in Quality Services and Long-Term Value
00:12:12 - Mispricing and the Market's Correction
00:16:57 - Professional Services and Cost Efficiency
00:21:35 - Online Coaching and Efficiency in Business Models
00:26:19 - Transitioning from Personal Training to Online Coaching
00:31:03 - Efficiency and Increasing Hourly Income
00:33:23 - Scaling and Empire Building Opportunities
00:35:39 - Differentiation in Pricing Strategy
00:38:02 - Outro and Contact Information
#BusinessGrowth #CoachingTips #ClientSuccessShow Notes (Streaming Platforms)
Focusing solely on price can lower the value you receive, cost you money, and harm your business. As a business owner pricing your services, you do not want to be on the low-end of the available prices.
Focus on Value Delivered not Price: Value EquationChris offers a simple example of why only looking at hourly rate makes no sense.
Someone hired a business to perform a task, and that business offered a low hourly rate. After 150 hours, they had failed to complete the task.
To fix this, they went to a different business with a higher hourly rate. That new business was unable to use the work the earlier business had performed, but after 30 hours they had completed the task.
The "more expensive" solution ended up costing less, both in terms of time and money.
Focus on Value Delivered not Price: Value Your TimeWith the example above, not only could the business have paid less if they had not only looked at the hourly rate, but they could have solved their problem much earlier, letting them make more money sooner.
You cannot save money by attempting to learn everything a lawyer learned at law school and in his years of experience to serve as your own attorney. This is really true of any professional service you hire.
Value your time, and focus on delivering value to your customers (and growing your business) as opposed to trying to spend time on what other professionals can do better than you.
Focus on Value Delivered not Price: Fly From the Low Price GameAs a business owner, you do not want to have to offer low prices. Why?
Because you will ultimately have your services judged on price, and this means a race to the bottom.
You want to pursue customers who are looking at your value and expertise.
You similarly want to seek out companies that offer great value to your business.
Focus on Value Delivered not Price: Excellent Value Means High PriceThis means, of course, that you must pursue excellence. You must become excellent at what you do. You must seek and use companies that deliver great value.
Of course, you should want to do this.
Early on, you may offer lower prices, as you learn your craft and build credibility.
Your prices should increase as you do this.
Focus on the total value delivered not price.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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10x your productivity with these 6 non-negotiables. Building these habits into your daily routine increases your output & effectiveness.
10x Your Productivity Habit #1: Work When Everyone Else Sleeps
Working when everyone else sleeps gives you an edge over your competitors and gives you time to knock out urgent work and complete deep work without interruption.
For Matt and Chris, the best time is early morning. Chris wakes up and immediately works on deep work. Matt knocks out urgent work, then transitions to deep work.
If you are a night owl, that is okay. Take advantage of the late evening time when you are up anyway and your brain works at its best.
10x Your Productivity Habit #2: Prepare to Work
Train your brain to know work is coming by taking advantage of the Pavlov response.
Create and perform the same series of tasks before you work, especially before you complete deep work.
Chris does the following:
Puts on noise-canceling headphonesPlays the same playlistWipes his nose with alcohol wipePuts on a nose strip to open up sinusesPuts eye drops in eyeballsPours gigantic cup of coffeeMatt's prep to work routine includes getting dressed for the day, making coffee, letting the dog out (skips on the road), sitting down in the same chair, and turning on the computer.
There is a chance you already have one. You need to make it more intentional, and might add things (similar to Chris).
10x Your Productivity Habit #3: Work with Absolutely No Distractions
Distractions destroy productivity, causing you to lose focus. They prevent you from completing deep work.
Turn off your phone and computer notifications. Go to a room where you no you will not be disturbed.
Then, when you are done with your deep work, you can respond to the notifications and urgent tasks all at once.
10x Your Productivity Habit #4: Leverage Artificial Deadlines
Create & hold yourself to artificial deadlines. Parkinson's Law describes how tasks will fill the time allotted to them. Barring extremes (giving yourself one second), you can get tasks done much faster than you think if you give yourself less time.
For example, creating a PowerPoint slide that is not that important might take you two weeks (or even two months) if you let it. If you give yourself one hour, however, you'll find you can get it done in an hour.
Chris uses time boxing, where he assigns a value to a task and then allots the time for the task. Bringing this intentionality of value makes how much time it should take more clear.
Most people take too long to do things. Occasionally, for truly important, high-value work, they do not spend enough time on it when they really need to ensure high quality.
10x Your Productivity Habit #5: Focus on 1 Task at a Time
You've been lied to: multi-tasking is fake. People serially task (context switch), and they context switch poorly.
Instead of bouncing from one task to another, performing both poorly, intentionally serially task. You focus on one thing at a time. When done, move onto the next thing.
Matt and Chris both use the Pomodoro technique. This involves allocating a certain amount of time (try 25 minutes) to completely undistracted work on 1 task. You don't go to the bathroom, you don't get more coffee, you don't look at your phone.
Then, take a break to complete those urgent tasks, go to the bathroom, and get more coffee.
You will learn that you are incredibly distracted. That is okay. Do it badly and you will improve. You will be able to do longer pomodoros with greater focus over time.
One tip Matt has for this is if something pops up into your head, such as the need to thaw meat for dinner or take out the garbage, quickly jot down a one-work reminder and keep work. For example, write down "meat" or "trash" and put it out of your mind. That way, you do not worry you forget about it, but spend no time on it. You do not context shift.
10x Your Productivity Habit #6: Leverage the Eisenhower Matrix
General Eisenhower developed a quad chart based on the urgency and importance of tasks. Tasks can fall into the below categories:
not urgent and not important - removeurgent but not important - delegate or automateurgent and important - pomodoro techniqueimportant but not urgent - create time for these and defendYou should remove tasks from category 1 and delegate or automated category 2 tasks.
Use the pomodoro technique for category 3 tasks.
You may use the pomodoro technique for category 4 tasks, but the most important thing is to build time for them by reducing the time you spend on other tasks. These tasks tend to not get done, but they are where the most value comes from, whether they are important tasks for you or your business.
Barbell Logic Links
Website: https://barbell-logic.com/
Instagram: https://www.instagram.com/barbell_logic/
Facebook: https://www.facebook.com/barbelllogiccoaching/
X: https://x.com/BarbellLogic
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
See how much you could be making at https://turnkey.coach/5x
Check out our Coaching Kickstarter eBook to accelerate your coaching career
If you're interested in improving your coaching practice and making 5x your current dollar-per-hour earnings, go to https://turnkey.coach/coaching-rediscovered/
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Choose Hard Things: The Transforming Power of Fitness
Cody had been an overweight youth but decided to begin to take his health and fitness seriously. When he wedded his nascent health and fitness journey with a passion for learning as he changed his major in college, he never looked back and pursued a career as a strength and nutrition coach.
Cody found that by simply doing hard things regularly and improving his health and fitness, he improved all other aspects of his life. Truly, embracing voluntary hardship can alter the course of your life for the better.
The decision to do the hard things matters.
Choosing Hard Things in Business & LifeCody, like Matt, saw the downsides of the in-person coaching model. He started an online coaching business in 2017, the year after Matt began Barbell Logic Online Coaching. He has focused on tailored nutrition and fitness coaching, prioritizing normal every day people looking to avoid the tragically-too-normal slide to obesity and disease.
He has had to learn about business (again, embracing hard things) to help his business grow, which ultimately helps more people transform their lives.
Choose hard things every day.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Moving Your Personal Training Clients Online: Online Coaching Business Model
Successfully transitioning your clients from in-person to online makes a ton of sense for your quality of life and business model as a strength coach.
The biggest value of in-person training comes primarily during those initial sessions, when often drastic technique changes need to be made and you develop a relationship grounded in trust, expertise, and benevolence.
As the relationship progresses, however, the value of in-person coaching decreases. Form correction becomes less frequent and less drastic, whereas programming changes become more complicated and necessary.
Asynchronous online coaching allows the client to lift wherever and whenever is convenient, and then the coach to respond within 24-48 hours wherever or whenever works for the coach.
It increases the dollar-per-hour pay to the coach while decreasing the cost to the client.
How to Move Your Personal Training Clients Online: Make More Money & Improve Your Quality of LifeMatt Fever has made the transition from personal trainer and leader of group classes to professional coach. Attending an in-person lifting seminar with Barbell Logic was a turning point, as Matt Fever signed up for the Academy, started receiving online coaching from Matt Reynolds, and really honed his knowledge and expertise and learned about the online coaching business model.
He has been transitioning his clients from in-person to online. This has allowed him to spend more time with his family. It has also led to his clients having higher compliance, as he can coach when he is on vacation (whereas previously he could not coach and did not get paid). His clients can also lift and receiving coaching if they travel.
Moving your personal training clients online dramatically improves your quality of life and helps you develop a successful online coaching business model.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Time Audit: Why It Matters – Know Where Your Time is Going
You are your biggest time waster. You may feel that others (e.g. your boss, kids, etc.) waste most of your time, but a couple things in response to this notion of your.
One, you cannot fully control these things. Two, insofar as you can control them, it often comes with how you react to them, approach them, or major life overhauls (e.g. changing jobs).
C. Northcote Parkinson describe in a 1955 essay in the Economist what has called Parkinson’s Law – works expands to fill the available time.
If you give yourself a month to complete a task, it will take a month. That same work could have taken you a week or day if you had assigned that amount of time.
Ultimately, this has limits (you cannot assign a nanosecond to something and assume it will get done), but this law has value. Instead of considering it a negative reality, give yourself less time and hold yourself accountable. Work to develop better habits of time management.
Just like nutrition or budgeting, worst knowing what you are consuming or how you are spending helps you begin to modify your actions.
Time Audit: What It Is & How To Do ItA time audit is a method to track how you spend your time over a given period. It helps you identify non-urgent, non-important tasks you can eliminate and urgent tasks you can delegate. Additionally, you will likely fine that the simple act of completing the time audit will improve your time management actions.
Track blocks of time down to the 15 or 30-minute increment for one week. If something takes less than that time, you can write that down.
Matt has a 15-minute timer that he uses. When it goes off, he quickly jots down what he did.
Matt uses Clockify, but you could use a spreadsheet or pen and paper.
You can read an article Matt recently wrote about the time audit here. You may also be interested in reading Dan Martell’s book Buy Back Your Time.
Matt recommends, even if you have done pretty well with time management, doing this annually or bi-annually to check-in and continue to improve your time management.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Don’t Be Lazy: You Can Do More
Most people do not do enough. The evidence for this is all the time people waste performing non-important, unurgent tasks such as watching TikTok, doom-scrolling through Twitter, or binge-watching Netflix.
Do not build walls around your time that should not exist. “It’s unhealthy to work on the weekend” or “I deserve to not work on the weekend” can be the difference between your business succeeding and growing or failing.
You have more time than you think. You can do more than you think. This does not mean that you do not enjoy time with your family or in leisure activities. People, however, by and large, are too lazy. People generally do less than they can.
Don’t Be Lazy Because of Your FreedomBusiness owners and the self-employed enjoy the freedom to set their own schedules and choose how to spend their time. This may be the single greatest aspect of starting a business or being your own boss.
If you give in to your worst tendencies, however, you will not do enough. You will choose laziness.
Matt, for example, gets up early to complete urgent tasks when no one else is awake. He does this on the weekend as well, which leaves him ready to perform on Monday as the CEO. He does not begin work Monday morning having to catch up on email.
Don’t let freedom lead to laziness. Don’t be lazy, but rather do the work.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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Pick Your Battles: Cool, Calm, Collected
Someone in the All In conference Matt, Niki, Andrew, & Josh recently attended said “that’s below my line.”
What does this mean? It means certain things should be below “your line” that stirs up your anger.
Of course, anger is an emotion, and emotions arise sometimes whether you want them to or not. That being said, you should avoid outrage culture, and if you find yourself dominated by your passions, you should step back and deal with it.
Matt has identified that addressing a situation in anger almost never works out well. This does not just mean yelling or punishment, but even talking in anger – it usually does not come off well.
If accomplishing the goal is the goal, and anger does not help, then don’t lean into the anger. Acknowledge, overcome, and try to make peace.
Pick Your Battles: Assume the BestOne component of picking your battles is assuming the best in others, especially others who have built up a level of trust with you.
You cannot be in a healthy relationship with your spouse or really any other important person in your life if you assume the worst possible motives for their actions.
Reach out to the other person and listen. Winning an argument or seeking to dominate conversation is not a good way to reach understanding or peace.
Pick your battles, seek peace, and overcome anger and other passions.
PS -
Join the free Business of Coaching Workshop for weekly tips to scale your coaching business (turnkey.coach/boc): https://bit.ly/3CKPWasLearn how you can 5x your dollar-per-hour earnings (turnkey.coach/5x): https://bit.ly/4jKqliv
Matt's Links
Website: https://ryanmattreynolds.com/
Instagram: https://www.instagram.com/reynoldsstrong/?hl=en
Chris's Links:
LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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