Latest / Gym Business Coach Podcast / Freedom Outside The Gym

Transcript

Freedom Outside The Gym · Gym Business Coach Podcast

0:08
[SPEAKER_00]: You are listening to the built-to-grow podcast delivering the knowledge in all things, fitness, business, who would be help jimmers, win, hear your hosts, ten lions, and Randy Axton.
0:27
[SPEAKER_01]: All right, welcome back to the built-to-grow podcast.
0:30
[SPEAKER_01]: Fitness Business Podcast.
0:33
[SPEAKER_01]: I'm your host Tim Lyon's joined by Randy Langston.
0:35
[SPEAKER_01]: How are we doing?
0:36
[SPEAKER_01]: The number one fitness business.
0:38
[SPEAKER_01]: Number one.
0:40
[SPEAKER_01]: Self-proclaimed.
0:41
[SPEAKER_01]: Self-proclaimed.
0:42
[SPEAKER_01]: Guys, do us a favor.
0:43
[SPEAKER_01]: Would you write us a review on Apple or Spotify or what's the other one, Google, Google Podcasts?
0:50
[SPEAKER_01]: Yeah, maybe.
0:51
[SPEAKER_01]: Whatever one you're listening.
0:53
[SPEAKER_01]: We would love a little review.
0:54
[SPEAKER_01]: It would be really big help for us.
0:57
[SPEAKER_01]: Just getting the word out.
0:58
[SPEAKER_01]: I've been doing this for five years, twice a week, plus six years now.
1:03
[SPEAKER_01]: What episode number is a six, six, I think?
1:05
[SPEAKER_01]: Okay, we can't.
1:08
[SPEAKER_01]: That's not a good number like that.
1:10
[SPEAKER_01]: Not a good number.
1:12
[SPEAKER_01]: But you have to pass it to get to the next one.
1:14
[SPEAKER_01]: So, so this is episode six and then two others.
1:17
[SPEAKER_02]: We're doing like a hotel.
1:18
[SPEAKER_02]: We'll just skip thirteen.
1:20
[SPEAKER_01]: Yeah.
1:21
[SPEAKER_01]: Yeah.
1:21
[SPEAKER_01]: The hotel skip thirteen.
1:25
[SPEAKER_01]: And I think you're playing this superstitious.
1:28
[SPEAKER_01]: No.
1:28
[SPEAKER_01]: Me neither.
1:29
[SPEAKER_01]: It's a for us playing baseball.
1:30
[SPEAKER_01]: Don't step on the line.
1:32
[SPEAKER_01]: You're stepping into the box.
1:36
[SPEAKER_01]: Oh, you're routine hitting both sides of the play.
1:39
[SPEAKER_01]: Yeah.
1:39
[SPEAKER_01]: Yeah.
1:39
[SPEAKER_01]: Hundred percent.
1:40
[SPEAKER_01]: Yeah.
1:41
[SPEAKER_01]: Doing the.
1:42
[SPEAKER_01]: Adjust your gloves.
1:43
[SPEAKER_01]: All of it.
1:44
[SPEAKER_01]: Yeah.
1:44
[SPEAKER_01]: The routine.
1:45
[SPEAKER_01]: All right, guys.
1:45
[SPEAKER_01]: So so this gym business game, right?
1:49
[SPEAKER_01]: We're talking to Jim owners here.
1:51
[SPEAKER_01]: You decided just one day in your journey to open a gym.
1:56
[SPEAKER_01]: and probably for a lot of reasons, but probably somewhere in the top three of everybody's reasons, it's probably for freedom.
2:05
[SPEAKER_01]: Freedom away from having to go to a job and go on a commute, you know, downtown traffic and stuff like that.
2:13
[SPEAKER_01]: You decide, you know what, I like helping people.
2:15
[SPEAKER_01]: I can do this, I want freedom, I want to create a future, and so like all those things created this gym for you, right?
2:23
[SPEAKER_01]: And so we're gonna talk a little bit bigger picture here.
2:27
[SPEAKER_01]: Um, in a lot of times, it was a hit you until way later, maybe maybe, maybe seven, eight, ten, twelve, fifteen years into the game and you're like, wait a minute, what am I doing?
2:35
[SPEAKER_01]: So like, so some of you are listening to sure in your twenties.
2:38
[SPEAKER_01]: I mean, I open my gym in my twenties.
2:41
[SPEAKER_01]: And it wasn't thinking about any of this stuff.
2:42
[SPEAKER_01]: I wasn't thinking about retirement.
2:44
[SPEAKER_01]: I wasn't thinking about anything other than running a great business.
2:47
[SPEAKER_01]: And I think you absolutely have to cross through that to the other side.
2:52
[SPEAKER_01]: But there's going to come a point in time where you have to make a decision.
2:57
[SPEAKER_01]: Is this Jim serving me?
3:00
[SPEAKER_01]: If it's not, do I fix it?
3:01
[SPEAKER_01]: Do I close it?
3:02
[SPEAKER_01]: Do I open multiples?
3:04
[SPEAKER_01]: What do I want out of this thing?
3:07
[SPEAKER_01]: And I kind of want to force you to think about that now because it's better to think about it now.
3:11
[SPEAKER_01]: It's better to think about it before you open and be an honest.
3:14
[SPEAKER_02]: When's the best time to plan a tree?
3:16
[SPEAKER_01]: Yeah.
3:17
[SPEAKER_01]: Well, you should open your business with an exit plan, you know, before you open it, because then you know what you're working towards.
3:24
[SPEAKER_01]: And we've had business evaluation experts on here, and what is a sellable business on here, and we've discussed about, you know, like, creating systems and operations, so you're not selling a job to somebody, you're selling an office business, your business owner, we talked about everything.
3:40
[SPEAKER_01]: But what do you do right now?
3:42
[SPEAKER_01]: What do you do in your business right now to hopefully get ahead?
3:47
[SPEAKER_01]: And somebody told me, I heard this somewhere.
3:50
[SPEAKER_01]: They said, Jim's our cash flow business on a cash out business.
3:55
[SPEAKER_01]: Actually, the person that told me that actually cashed out, bit Daniel May.
3:59
[SPEAKER_01]: So he goes, I always used to think it was this.
4:01
[SPEAKER_01]: And I think there's, he could be both.
4:03
[SPEAKER_01]: Sure.
4:04
[SPEAKER_01]: I think I think that you as a Jim owner should be at a point, hopefully get your business to a point where it's spinning off cash flow.
4:11
[SPEAKER_01]: The question is, what do you do with that money to continue to grow wealth?
4:14
[SPEAKER_03]: There you go.
4:15
[SPEAKER_01]: And there's a lot of avenues.
4:17
[SPEAKER_01]: In fact, we have a whole wealth circle built inside of our iron circle that discusses all of these things.
4:24
[SPEAKER_01]: Whether it's whole life insurance policies with infinite banking to heloc lines of credit with a circular refunding approach to real estate investments, crypto, stock, bonds, all the things.
4:41
[SPEAKER_01]: And, you know, as a gym owner, business, any business owner, really?
4:46
[SPEAKER_01]: You know, like, what are you doing to say, after I'm done with this gym game, what do I have to show for it?
4:54
[SPEAKER_01]: And if you're banking on the huge cash out, you may be disappointed.
4:59
[SPEAKER_01]: I mean, honestly, if you look on biz by cell in today's market, you're going to see gym selling for
5:07
[SPEAKER_01]: twenty grand yeah equipment cost yeah um... shit i mean fifty sixty grand right now in our world a single you know unit should be a half a million to a million dollars for a single unit
5:24
[SPEAKER_01]: When you have a profitable business that runs without you, right?
5:27
[SPEAKER_01]: That's just kind of like the numbers.
5:28
[SPEAKER_01]: Well, you hit it there, right?
5:31
[SPEAKER_02]: It's either cash flow or cash out.
5:32
[SPEAKER_02]: And I would kind of clean that up a little bit and say that if your goal is cash out, you need to cash flow business.
5:39
[SPEAKER_01]: Right.
5:39
[SPEAKER_02]: Like it's, it's, that's dependent, you look, the number you're going to get for the business is completely dependent upon the owner benefit.
5:46
[SPEAKER_02]: Cash that you've created.
5:47
[SPEAKER_02]: Yeah.
5:49
[SPEAKER_02]: You know, it sucks to say, guys, but you know, the value of your memberships, if you're not profitable, the value of the equipment in the business, you know, all of that stuff has a diminishing value to somebody coming in looking at that and you make it, you know, pennies on the dollar.
6:07
[SPEAKER_02]: If you don't have the cash flow and then that profit and the owner benefit, that's what somebody's coming in.
6:14
[SPEAKER_02]: That's where the valuation really is weighed.
6:16
[SPEAKER_01]: That's where they're buying.
6:17
[SPEAKER_01]: Yep.
6:17
[SPEAKER_01]: Yeah.
6:18
[SPEAKER_01]: I mean, everybody, you know, you better hear this from us now, because I don't want you to go down this pipe dream of saying, like, oh, well, my brand equity in the market, we've been here for ten years.
6:28
[SPEAKER_01]: Everybody knows us.
6:29
[SPEAKER_01]: That doesn't mean anything if you don't have panels that are positive, right?
6:34
[SPEAKER_01]: Just to see is what it is.
6:36
[SPEAKER_01]: So you get into this gym business and you're like, okay, cash flow cash out, lifestyle, like, what is this going to serve for me?
6:43
[SPEAKER_01]: And I would argue,
6:45
[SPEAKER_01]: It has to be your future, because you're spending the next decade, two decades of your life, of your prime earning years as a Gemowner.
6:57
[SPEAKER_01]: And if you don't have something to show for it in twenty years from now, you wasted your time.
7:04
[SPEAKER_02]: Yeah, the goal isn't to, you know, create a business and then have the salary that just, you know, mediocre and just getting by and just rely on that.
7:13
[SPEAKER_02]: And it comes back to, I mean, we've spoken a lot to a lot of gym owners that are seasoned, right?
7:17
[SPEAKER_02]: Fifteen, twenty, something years.
7:19
[SPEAKER_02]: They're thinking about
7:20
[SPEAKER_02]: the what comes next when it comes over retirement no longer being in the business all the time and your point like the best time to do all of this stuff is pre-open basically but right now is the next best you know right and a lot of it comes down to the systems at the business operates on your staff structure all of that stuff is what creates the ability for that business to be profitable or for somebody and when somebody comes along or you go to position it to sell that's the things that are
7:49
[SPEAKER_02]: valuable to the person who's going to be buying it.
7:52
[SPEAKER_02]: And Jim owner is unfortunately like it's it's doing the hard work now to get all those things in place and it's I would do it as soon as possible because you never know what's coming down you never know
8:04
[SPEAKER_02]: you know, what that future looks like.
8:06
[SPEAKER_02]: Um, God forbid, you know, life altering changes or something like that.
8:10
[SPEAKER_02]: Like, you know, are you in a position to be able to flip a switch and and sell and have a sellable asset?
8:15
[SPEAKER_01]: Or are you, or you go, you know, spend time with your family while the business continues to run and operate without you, which we've, we've had this happen.
8:24
[SPEAKER_01]: So like, this is a really good topic because
8:28
[SPEAKER_01]: the best time to do it as soon as possible.
8:30
[SPEAKER_01]: Absolutely.
8:31
[SPEAKER_01]: And how do we do it, right?
8:33
[SPEAKER_01]: At the end of the day, this is, we are gonna, I am gonna promote what we do because we're so freaking good at it.
8:40
[SPEAKER_01]: I mean, we've taken gems for where the owner is in the day to day, every day, ten hours, training clients, never gets a break, does all the sales.
8:51
[SPEAKER_01]: We've been able to flip a switch in eight, nine, ten months.
8:57
[SPEAKER_01]: Those Jim owners are now spending weeks in Greece and Europe, and their businesses running, operating at a profit, growing, growing in their absence, in their absence, making more than a November made without them doing it.
9:10
[SPEAKER_01]: And we've done that over and over and over we did it with one of our, like to the, you know, not to speak to personal about anybody.
9:18
[SPEAKER_01]: We had a family emergency.
9:20
[SPEAKER_03]: Yeah.
9:21
[SPEAKER_01]: This guy had a couple of locations and he was doing the every day.
9:24
[SPEAKER_01]: He was selling.
9:24
[SPEAKER_01]: He was training.
9:25
[SPEAKER_01]: He had his coaches in there and he was doing it like he was in the day to day.
9:30
[SPEAKER_01]: He was able to step out.
9:31
[SPEAKER_01]: It's been six months with his family business running and operating.
9:36
[SPEAKER_01]: We've had people turn those businesses around to sell when they didn't have a director in place at all.
9:45
[SPEAKER_01]: been able to identify higher train, systematize, boom, all within a year, two years, and get out for multiples, multiples.
9:53
[SPEAKER_02]: Yeah, and that's really, I mean, you nailed it there, right?
9:56
[SPEAKER_02]: Like just talking about the freedom and you're talking to your monitors all the time.
10:00
[SPEAKER_02]: You have, we talk about
10:02
[SPEAKER_02]: getting out of the business in a way where it's not necessarily a requirement and I want to like say that because when I talk to gym owners and like well I enjoy training clients well there's nothing wrong with that but do you have to that's the difference right freedom means you have the choice of spend where you want to spend your time what you're spending it on
10:21
[SPEAKER_02]: We always go back to the cash flow quadrants, right?
10:24
[SPEAKER_02]: Most gym owners that we speak with are self employed.
10:26
[SPEAKER_02]: They're in that role.
10:27
[SPEAKER_02]: If they're not trading time for money, they're not bringing money home themselves.
10:32
[SPEAKER_02]: The business isn't paying them, you know, distributions and things like that to enough to pay for their lifestyle, right?
10:38
[SPEAKER_02]: They have to be in the business in some form of fulfillment.
10:43
[SPEAKER_02]: build the business so that you don't have to be doing that.
10:47
[SPEAKER_02]: Any day, you can walk into your gym and you can jump in and train clients.
10:50
[SPEAKER_02]: It's your business.
10:52
[SPEAKER_02]: You have that option, right?
10:54
[SPEAKER_02]: But if you're every single day, day to day, you're showing up and you have to be there at five a.m.
10:59
[SPEAKER_02]: because you're the coach that does the five a.m.
11:01
[SPEAKER_02]: sessions or all the way there through seven p.m.
11:04
[SPEAKER_02]: and you're still there doing the sessions.
11:06
[SPEAKER_02]: This is kind of, I mean, the purpose of this podcast is a little bit of wake-up call to where there is a better option, right?
11:13
[SPEAKER_02]: Every one of you, I'm sure would agree that if you had the choice to do all of that, you would choose that versus where you are right now, where you have to do that.
11:21
[SPEAKER_02]: And if you're not intentionally building the systems into the business and understanding what it takes in order to get to that position,
11:28
[SPEAKER_02]: That's the things you have to start to understand and learn right now.
11:31
[SPEAKER_02]: That's exactly the foundation of our coaching program.
11:35
[SPEAKER_02]: Just to grow that revenue beyond that thirty k mark, why you'll creating a business that no longer has to operate with you in fulfillment.
11:44
[SPEAKER_02]: some go that route into your point, right?
11:46
[SPEAKER_02]: They're able to take vacations for the first time or, you know, multiple times throughout a year.
11:51
[SPEAKER_02]: They've got additional cash flow where they can reinvest it and other opportunities, other businesses, second locations, real estate, whatever it may be.
11:59
[SPEAKER_02]: But you have to, you as the business owner, you guys listening have to be thinking along that line or you're gonna find yourself ten, fifteen, twenty years in this business and what are you gonna have to show for it?
12:11
[SPEAKER_02]: the clients that you're training in front of you and what if that were to stop you're done or you know that the worst part I think would be the assumption that what you have is valuable and when you know you're positioning yourself or you're planning on on the sale and then the cushion and then you get to you come to find out you know what you thought was
12:32
[SPEAKER_02]: multiple hundreds of thousands of dollars, even up to a million dollars, looks like seven again, seven grand.
12:39
[SPEAKER_02]: You know what I mean?
12:40
[SPEAKER_01]: It's that that's the fortune reality.
12:43
[SPEAKER_01]: That is absolutely happening every single day.
12:46
[SPEAKER_01]: So, great point that would be the wake-up call.
12:49
[SPEAKER_01]: Hopefully this is the wake-up call.
12:50
[SPEAKER_01]: I had a great talk at the perform better in Long Beach in the one takeaway that I said, if you don't learn anything from me at all, whatever,
13:00
[SPEAKER_01]: You don't listen anything else.
13:01
[SPEAKER_01]: Listen to this one thing.
13:02
[SPEAKER_01]: Your gym should serve you.
13:03
[SPEAKER_01]: That was it.
13:04
[SPEAKER_01]: Your gym should serve you as the owner, as the risk taker, as the one that put the money on the line, the blood sweat and tears, all of that.
13:12
[SPEAKER_01]: It should serve you.
13:13
[SPEAKER_01]: Like you're not in this business to make sure everybody gets paid, but you, that end that unfortunately happens all the time.
13:20
[SPEAKER_01]: So one of the things I'll tell you guys, if you're not paying yourself right now, do this.
13:25
[SPEAKER_01]: This is something I did.
13:27
[SPEAKER_01]: year one month for one.
13:29
[SPEAKER_01]: I said, I'm going to pay myself a hundred bucks a week out of my draw, whatever, from from business, banking account, I used to mail it to my house.
13:39
[SPEAKER_01]: You know, you go online, do bill pay.
13:41
[SPEAKER_01]: Well, you can mail, you can have that mail checks.
13:44
[SPEAKER_01]: And I would send that because I wanted to physically touch it.
13:46
[SPEAKER_01]: Like that was the reason.
13:48
[SPEAKER_01]: And for probably
13:50
[SPEAKER_01]: five to seven years, I would have checks sent to my house and I would cash them on my, you know, I would take a picture of it for my phone and I would do it on the kitchen counter and it would be like.
14:00
[SPEAKER_01]: It's serving me.
14:01
[SPEAKER_01]: Yep.
14:02
[SPEAKER_01]: In that one hundred got to two hundred, you know, got to two fifty three fifty every week now on top of everything else I pay myself.
14:12
[SPEAKER_01]: I'm sending I'm sending eight hundred to fifty dollars.
14:16
[SPEAKER_01]: It's all it's it's an auto now.
14:18
[SPEAKER_01]: It's not in a check, but like it's just getting drafted from one account to the other.
14:23
[SPEAKER_01]: It's just on top of pay on top of owner benefit on top of everything else eight fifty a week and I don't even what is that math say for them fifty two weeks doing that for us a day we open literally month what is it what is it I mean it's not crazy the one eight fifty times fifty two that's forty four extra thousand dollars
14:44
[SPEAKER_01]: Forty-four grand on top of whatever you're already paying yourself and in your kid and owner benefit and your truck and Costco runs and the gas.
14:53
[SPEAKER_02]: Well, let's think about that.
14:54
[SPEAKER_02]: I mean, for those of you listening, I mean, Tim is the ability to increase what his take on forty four thousand dollars is your salary for the work that you're doing in your business.
15:04
[SPEAKER_02]: That high.
15:06
[SPEAKER_01]: I mean, that's not it, my salad.
15:08
[SPEAKER_02]: Well, that did that's my point though for those listening, you know, like the work that you're doing every day in your business, we know the average of take home for a gym owners, not even that.
15:17
[SPEAKER_02]: Oh, yeah.
15:17
[SPEAKER_02]: And you really get it.
15:18
[SPEAKER_01]: So, Brian, the point I was trying to make was it needs to serve you.
15:22
[SPEAKER_01]: And if you don't pay yourself, you're going to resent it.
15:25
[SPEAKER_01]: You're going to not screw that place.
15:27
[SPEAKER_01]: I'm not going in.
15:27
[SPEAKER_01]: You're not going to work hard.
15:28
[SPEAKER_01]: It's like,
15:29
[SPEAKER_01]: You're trying to get out of there.
15:30
[SPEAKER_01]: You can not work as hard, but you see those checks show up every Friday.
15:35
[SPEAKER_01]: Like, it was pretty cool.
15:36
[SPEAKER_01]: And there was a point in time where I was like, okay, I think it was when it was like, seven hundred or some, I would, I would save ten of them before I would cash him.
15:44
[SPEAKER_01]: So I had seven grand.
15:45
[SPEAKER_01]: Like that was a big deal, right?
15:47
[SPEAKER_01]: Like it was, um,
15:49
[SPEAKER_01]: just something I did and I'm just kind of weird like there's some weird things that I do weekly a lot of times I, you know, some of my, my AMX bill I paid daily.
15:57
[SPEAKER_01]: We put like, whatever, thousand bucks a day or whatever, whatever, hitting those cards, I'm just to pay it daily.
16:05
[SPEAKER_01]: weird.
16:06
[SPEAKER_02]: Well, but you're speaking to one way of like incrementally getting to where you need to be.
16:10
[SPEAKER_02]: You know what I mean?
16:10
[SPEAKER_01]: It's all that you get exactly right.
16:12
[SPEAKER_02]: And so obviously those listening, maybe it's not maybe you don't have the luxury of doing a hundred dollars a week yet.
16:17
[SPEAKER_02]: Start at twenty five.
16:18
[SPEAKER_02]: Well, I think everybody can do a hundred.
16:20
[SPEAKER_02]: You should be able.
16:21
[SPEAKER_02]: I don't really do.
16:22
[SPEAKER_01]: Don't just do a hundred.
16:23
[SPEAKER_01]: Like start.
16:24
[SPEAKER_02]: It goes back to like the the profit first mentality, right?
16:26
[SPEAKER_02]: You're forcing that and the business has to has to accommodate for that's coming out like an expense.
16:32
[SPEAKER_01]: Well, it absolutely happens that way.
16:35
[SPEAKER_01]: When you pay yourself first, you learn to figure out how to operate with less, and then you do, and then you just bump it up, right?
16:43
[SPEAKER_01]: He'd won fifty.
16:44
[SPEAKER_01]: Let's go to, let's go to fifty.
16:45
[SPEAKER_01]: We did that with one of Ryan or Circle Members, because he was underpaying himself.
16:48
[SPEAKER_01]: I'm gonna do this, and he's in a testimonial.
16:52
[SPEAKER_01]: I increased my owner benefit by forty percent, because he just did this one thing.
16:57
[SPEAKER_01]: I don't know if it was a hundred, it was probably like five hundred bucks a week or something.
17:02
[SPEAKER_01]: I just do it because when you do a weekly and it just automatically happens, you're not having any physically do anything.
17:09
[SPEAKER_01]: Kind of just it just works.
17:11
[SPEAKER_01]: I don't know.
17:11
[SPEAKER_01]: It just works.
17:12
[SPEAKER_01]: You just figure out a way.
17:14
[SPEAKER_01]: Just do it guys.
17:15
[SPEAKER_01]: Like trust me, do this little thing.
17:17
[SPEAKER_01]: Do everybody that's not paying themselves or if you are.
17:22
[SPEAKER_01]: Just go into your chaser, bank of America, Wells Fargo, and do the bill pay that you're paying yourself, and do it weekly.
17:30
[SPEAKER_01]: I don't know if you can pick the date or not.
17:33
[SPEAKER_01]: Like the Friday or the Monday or whatever, and just send yourself a check in the mail.
17:38
[SPEAKER_01]: So you physically see it in your mailbox.
17:41
[SPEAKER_01]: It just does something psychologically.
17:43
[SPEAKER_01]: Yeah.
17:43
[SPEAKER_01]: And it's serving you.
17:44
[SPEAKER_01]: So like the end of the day, like serve you.
17:48
[SPEAKER_02]: Guys, I don't know.
17:51
[SPEAKER_02]: There's something here though, I think there's resistance around that because a lot of the emotional state of owners is like, it's a servitude, it's an act of, I'm here to help the community and guys, there's nothing wrong with that.
18:05
[SPEAKER_02]: Keep that belief.
18:06
[SPEAKER_02]: But I say this all of the time, making money is not a bad thing.
18:11
[SPEAKER_02]: If you strip everything else out and your goal is to serve everybody else,
18:15
[SPEAKER_02]: You need capital in order to do it, right?
18:17
[SPEAKER_02]: If you have one location in your goals to serve as many people in your community and you need a capital in order to open up the second to touch more people's lives, right?
18:27
[SPEAKER_02]: But if you never to your point, like you're gonna build resentment around the business, you're gonna not go work harder, you're gonna find all of these different things that negatively impact your decision to go help more people because you aren't getting what you need out of the business.
18:44
[SPEAKER_02]: And when the business serves you, Zack and I did a podcast on that, right?
18:47
[SPEAKER_02]: When a business serves you, it serves the clients and it serves your team.
18:50
[SPEAKER_02]: That's that perfect trifecta.
18:53
[SPEAKER_02]: And you find a way.
18:55
[SPEAKER_02]: I mean, it almost like reinvigorates your passion for what you're doing.
19:00
[SPEAKER_01]: Yeah.
19:00
[SPEAKER_01]: Yeah.
19:01
[SPEAKER_01]: So anyways, I guess what I was trying to say, this whole podcast was about what's happening next.
19:07
[SPEAKER_01]: What's the next thing?
19:09
[SPEAKER_01]: It may be you have a successful business.
19:11
[SPEAKER_01]: That's, you know, this need, this is right talking to you as well.
19:14
[SPEAKER_01]: Maybe you are profitable.
19:15
[SPEAKER_01]: Maybe you have five, ten, seventeen locations.
19:18
[SPEAKER_01]: Okay, what are you doing outside of the business to diversify across different platforms?
19:25
[SPEAKER_01]: Are you in real estate?
19:26
[SPEAKER_01]: Are you in crypto?
19:27
[SPEAKER_01]: One of our iron circle members dumps every dollar in a crypto.
19:32
[SPEAKER_01]: Okay.
19:33
[SPEAKER_01]: I mean, it's a gamble, but I tell you what the guy's got.
19:38
[SPEAKER_01]: several million now, just living in the crypto space because that was that was his investment of choice.
19:46
[SPEAKER_01]: And everybody knows what's big coins gone to fricking the moon.
19:50
[SPEAKER_01]: He was in an at twelve fifteen twenty five thousand thirty forty fifty he's buying all the way up.
19:57
[SPEAKER_01]: And each one of his locations, he would take lump sums and dump it, lump sums and dump it.
20:01
[SPEAKER_01]: And that was his owner draw.
20:02
[SPEAKER_01]: That was his like what he was paying himself.
20:04
[SPEAKER_01]: He just happened to put it in the crypto and you know, thankfully, it's increased exponentially.
20:10
[SPEAKER_01]: But like he's not banking on the on the gyms.
20:14
[SPEAKER_01]: The gyms are giving him cash.
20:16
[SPEAKER_01]: And then if he sells his gems for, you know, millions of dollars, cool, that's on top of he's already comfortable over here.
20:22
[SPEAKER_01]: So.
20:22
[SPEAKER_02]: It goes back to Cashwell quadrants, right?
20:24
[SPEAKER_02]: The fourth quadrants investor.
20:25
[SPEAKER_01]: Yeah.
20:26
[SPEAKER_02]: And so, and, you know, the goal, all for those quadrants into your relationship with wealth, how you grew wealth, right?
20:31
[SPEAKER_02]: And the goal as a business owner, I mean, the next step is that investor role, you should, you could, and you should absolutely live in both of those quadrants.
20:40
[SPEAKER_02]: Yeah.
20:41
[SPEAKER_02]: You know what I mean?
20:41
[SPEAKER_02]: And so do.
20:43
[SPEAKER_02]: That is the end goal.
20:45
[SPEAKER_02]: That is the game like we've talked about before, opening up the gym is not the final destination.
20:51
[SPEAKER_02]: It's the beginning of the journey.
20:53
[SPEAKER_02]: What are you doing this for?
20:54
[SPEAKER_02]: What is your opportunity with the money that you're making?
20:56
[SPEAKER_02]: It's not going back into the business and paying people out.
21:00
[SPEAKER_02]: Do you have the ability to leverage that to get you further and further?
21:04
[SPEAKER_01]: Well, think bigger guys.
21:06
[SPEAKER_01]: I mean, obviously, you got to get a gym that's healthy.
21:07
[SPEAKER_01]: If you need help systematizing what we do, what's what we do best is our spring board program.
21:13
[SPEAKER_01]: It's going to be a link in the show notes somewhere.
21:15
[SPEAKER_01]: Just jump on a call.
21:16
[SPEAKER_01]: You'll speak to Randy direct.
21:18
[SPEAKER_01]: If we can help you, awesome, there's gonna be an opportunity to join our program.
21:22
[SPEAKER_01]: And I'll throw it right out here on this show, our price per month on the springboard.
21:28
[SPEAKER_01]: It's eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight, eight,
21:45
[SPEAKER_01]: It's our, it's a year-long mentorship program and we go deep.
21:48
[SPEAKER_01]: We go deep in the weeds.
21:50
[SPEAKER_01]: Yeah.
21:50
[SPEAKER_02]: I mean, obviously, you know, when you open your gym, there was not, it wasn't like you got your road map to success, you know, like it's, it's the wild last year.
21:57
[SPEAKER_02]: Like, all right, what do I do now?
21:59
[SPEAKER_02]: How do I get there?
21:59
[SPEAKER_02]: And there's a million ways to get there.
22:01
[SPEAKER_02]: You know, it's a million ways to not get there too.
22:04
[SPEAKER_02]: There's a lot more ways to get there.
22:06
[SPEAKER_02]: Yeah, but this is as close to like, you know, us drawing the journey out with you, getting what is your end goal?
22:14
[SPEAKER_02]: Let's retro.
22:15
[SPEAKER_01]: And what's going to take to get there?
22:16
[SPEAKER_01]: We have frameworks that are proven across the board for any, there is no problem in your agenda.
22:20
[SPEAKER_01]: We have not seen and solved.
22:22
[SPEAKER_01]: So, I mean, if I'm a Jim owner listen to this and any of this resonated,
22:29
[SPEAKER_01]: I'm gonna book a call because like even if you don't decide to like you need to know the journey which you know where to go but I'm also gonna challenge anybody that's in business that isn't where they want to be and we have a solution and you decide not to do it after hearing all this then it's on you because you don't have the money you gotta find the money you have to find it there's a million ways to make money million ways to find money get money
22:56
[SPEAKER_01]: whether it's in a debt service type of scenario.
23:00
[SPEAKER_01]: It's a loan.
23:01
[SPEAKER_01]: It's a gift.
23:02
[SPEAKER_01]: It's a selling something to a client.
23:06
[SPEAKER_01]: There's a getting money should be no excuse.
23:09
[SPEAKER_01]: Correct.
23:09
[SPEAKER_01]: Period.
23:10
[SPEAKER_01]: I mean, we're talking about this yesterday.
23:14
[SPEAKER_01]: I've done some of the most wildest things to get money, so we can keep the train rolling over the years.
23:20
[SPEAKER_01]: It just isn't an option, not to do it.
23:23
[SPEAKER_01]: So anyways, that's your kick in the ass.
23:25
[SPEAKER_01]: Hopefully that helps you guys and we're here to help you win at bottom line.
23:28
[SPEAKER_01]: It's the only reason we get up on stages and write books and do six hundred and seven plus episodes.
23:37
[SPEAKER_01]: Can't say the no six hundred plus episodes, I'm nearing on seven hundred.
23:41
[SPEAKER_01]: There's only, it's only to help you, right?
23:45
[SPEAKER_01]: And if there was ever a case study on a gym, like we've given you every freaking thing that we do here over and over and things that don't work too.
23:53
[SPEAKER_01]: I've been happy to share those as well.
23:55
[SPEAKER_01]: We've done that plenty of times.
23:56
[SPEAKER_01]: So anyways, if you need help, let us help you.
24:00
[SPEAKER_01]: Link in show notes.
24:00
[SPEAKER_01]: That's it for this show.
24:01
[SPEAKER_01]: Until next time, keep changing lives.
24:03
[SPEAKER_01]: See you next show.
24:03
[SPEAKER_01]: Bye.
24:06
[SPEAKER_01]: Alright, thanks for listening to another episode of the built-grilled podcast.
24:09
[SPEAKER_01]: If you want more help growing your business, join our free Facebook group, profit accelerator, helping training gyms grow to thirty thousand dollars a month and beyond.
24:18
[SPEAKER_01]: We'd love to see you there, go check out the show notes for the link, and keep building something great, and we'll see you in the next episode.