PODCAST

Cash Is King: Financial Mistakes You Can Avoid in Your Fit-Biz

Hey, Fit-Biz Owners!

Not sure if your business growth is good enough?

… You’ll only know for certain, if you analyze the numbers.

Many startup fitness businesses fail to keep track of their finances because they just focus on the money that’s coming in…and not the money that’s going out. We’ve been there ourselves and we want to help you avoid making the same mistakes we did in our early days.

In this episode, we’ll reveal the financial mistakes you’re probably already making and tips on avoiding them. Moreover, we’ll talk about cash flow and the difference between profit and revenue.

In order for you to avoid as many costly mistakes as possible, be sure to listen to this podcast episode now!

Episode Highlights:

Introduction [0:00]
We made a mistake—we were always spending [0:39]
Why is knowing the numbers essential in business growth? [2:55]
Good offense and good defense [4:22]
Mentors as a guiding light [5:00]
Growth and consolidation [7:21]
Have an analytical (not emotional) view of your business [9:33]
How often should you check your numbers? [11:08]
Make decisions based on a macro perspective [13:47]
Collecting data [16:25]

About the Hosts:

Andrew Gaussen and Andrew Poulton are business marketing and sales analytics experts, respectively, with a passion for creating impactful and profitable online fitness businesses. Together, they are the founders of Hypothyroid Body Transformation, a multiple 7-figure fitness business. They have been helping people conquer hypothyroidism through balanced nutrition and a well-rounded lifestyle since 2017. They also co-founded Systems By Design, an online coaching platform that aims to help fitness professionals grow their business to 7-figures.

Iggy Odighizuwa is also a Co-founder of Systems By Design and is the systems and automation specialist of the company. Iggy’s passion is helping coaches improve the quality and efficiency of their program delivery. He loves getting more done in less time and making what he calls “lazy money”. He is the author of The Ultimate Client Acquisition System. This system was designed to automate the process of attracting ideal clients whilst filtering out the bad fits.