Fitness Business School – The Wealthy Fitness Entrepreneur Podcast

Full Transcript

Hey Pat Rigsby here and in today’s episode, I want to talk with you about the wealthy fitness entrepreneur, an upcoming private podcast that Doug Spurling and I will be hosting. So let’s get to it.

Welcome to the Fitness Business School podcast, the show for fitness business owners who
want to grow their income, increase their impact and improve their lifestyle. Be sure to listen to the end
of this episode because we have a brand new special offer exclusive for listeners. So stay tuned.

So in the intro to this, I said an upcoming private podcast, to be honest, depending on when you’re listening to this, the wealthy fitness entrepreneur may be up and running and full speed ahead, but I thought it was an interesting thing to talk about for a few minutes because I wanted to share why we’re.

Doing this and how to apply some of the same logic in your own business. And so the idea of creating different, a different community business owners who might be at a different stage of business has been something that Doug and I have kicked around for a while, whether it be with a private newsletter.

Or now we arrived at this private podcast approach and the logic was simple. It was just being able to talk about things that would be more relevant to a specific kind of level of business owner or a person, maybe a better way to put it would be a business owner that’s at a certain place in their journey where they’re more interested in.

How do I things like, how do I build wealth with my service based business? How do I increase cashflow? So I have some money to invest, whether it be in stocks or funds or in real estate or whatever other kind of investment vehicles they prefer. Things about leadership, installing systems. Basically, I think for a lot of business owners that we’ve worked with through, be it.

Our boardroom group or the scale group or private clients that Doug and I have worked with or that I’ve worked with independently, but you just. You have different challenges. You have different goals. You have different things that you’re focused on at the stage of various stages of business, and that’s one of the unspoken truths of being a business owner, it’s not like you ever run out of challenges.

You’re just up leveling the challenges. The, that you’re encountering early stage business owners probably have a lot of challenges around decisions that they’re making. Okay. What’s my business model going to be? Where am I going to be located? How am I going to market? What software am I going to use? A lot of those kind of initially taxing.

And I think early startup questions that are pressing and lay the foundation for initial success, that kind of early to intermediate business owner. It’s usually about how do I get more leads? How do I close more sales? How do I increase my revenue? And then I’ve painted myself into a corner. How do I get a little bit of help?

So I’m not just a solopreneur. Once you get to this established place in business, then the topics start to move towards. Okay. How do I scale this thing? How do I provide my myself and my family with long term financial security? How do I build a business that I want to own for an extended period of time?

How do I install systems so I can move to a role that, that I want to have in the business? How do I become a better leader? How do I, Develop a team, what options for scaling are there out there and how do I do that? And so the podcast that we’re going to be running, depending on when you’re listening to it already have launched is very much about those kind of.

Maybe advanced topics, if you will, for business owners that are a little further along in their journey. And it allows us to specialize a little bit more in that area and serve some people in a different way. And it’ll be invitation only or. Kind of application only based on just stage of business. And that way we can not bog people down and overwhelm them with things that may not be relevant for them right now.

And I think of it so much, I’ve got a. A son in seventh grade and another in college. And you’re doing seventh grade curriculum before you’re doing senior and college curriculum. And there’s a sequential approach here. And so if you can focus on the material at hand and not get distracted, let’s face it, focus is a superpower, right?

So if you can focus on the material at hand, it’ll allow you to better execute on that and put yourself. In a position to move to that next stage. And so how is this relevant to you and your business? Probably two different ways. If you’re at a stage of business that, okay, and I’m established, I’m on solid footing, the business is generating some revenue.

And you’re thinking about that next level of how do I install systems? How do I scale? How do I start to, to build a little bit of wealth? How do I grow my team? Evolve my role, then the podcast may be for you. And so definitely explore the links that we have for applications to see if it’s a fit. And please don’t be too angry, frustrated, or discouraged if you’re not there yet.

It’s honestly, as a business coach, some of this is no different than what you’re doing for clients too. It’s, you’re not going to give them the most highly complex movement. A week into being a gym member, right? Because you’re trying to set them up to succeed. And so we’re trying to put people in the right seats to help them be successful too.

But more importantly, for your own business and how this benefits you in the moment is you’ve got clients in your ecosystem. You’ve got prospects in your ecosystem who are at different stages. If you try to put them all in the same category at all times, you’re going to lose some of the people. Along the way, right?

You’re going to lose some of those more advanced people or people who want one on one support, if all you’re doing is offering group training, you’re going to lose some of the advanced clients. If all you’re doing is beginner programming, but if all you’re doing is beginner, all you’re doing is advanced programming and it’s.

Feels too difficult. And it seems too intense. You’re not going to get those deconditioned early stage people. So you can decide if I want to capture a greater market share and add more depth to what I’m doing, can I offer ancillary things, whether they’re short term things or private things or whatever else, can I offer ancillary things that are designed to.

Serve maybe a market that my primary offering or my front facing offering may not be as attractive to, because if you do that, you’re going to capture a big, bigger market share. I know in my case, because I talk a lot about things like. Lead generation and getting clients through the door or whatever else.

It probably gets glossed over that. I’ve had clients that have nine figure businesses. I’ve had clients that are some of the most visible people in the industry and are recognized is there. Market leaders, heck, a lot of the more successful and more reputable business coaches had been my client. And frankly, I enjoy working with those guys.

Just like I enjoy working with the person who’s trying to get from 10, 000 a month to 25, 000 a month and enjoy them for different reasons. But if the broader. Stuff that I talk about is more applicable to that person. Who’s doing 150, 000, 250, 000 annually. The person who’s doing a million dollars annually may think he doesn’t really focus on that.

Whereas at any given time, I’ve got a handful of private clients who fit that bill and we do deeper dives on their stuff. So if you were like me at all and enjoy. Working with different types of people at different stages of business. Then this offers you that opportunity to do that. Again, this wealthy fitness entrepreneur, maybe it’s an aspirational thing.

If you’re an early stage business owner to get to the point that this would be a good fit, maybe this is a great fit for us to share some insights for the current stage you’re at, but most importantly, Maybe it’s an opportunity for you to capture more market share and to get more fulfillment from your own business.

Thanks for listening to this episode of The Fitness Business School.

Before you go, I have a quick announcement:

One of of the things that we’ve been doing with our current clients is taking them through this Ideal Business diagnostic and really what it is, this checklist that allows you to pinpoint exactly what your business needs next so you can keep improving, keep growing, and build a business that you love to own, one that pays you well, one that allows you to have the impact you wanna have and one that allows you to have a lifestyle that you truly enjoy.

In this diagnostic, we walk through everything and we do an evaluation and can instantly pinpoint what you need to do next to build that business that you want. I’m going to extend this opportunity to get on with either me or my team and take you through this evaluation and fix your business’s most vital needs fast.

So if we take you through this, you’re gonna be able to make those vital changes that you need to finally have what I call your Ideal Business. If you’d be interested in going through this entirely free, risk-free diagnostic with us and learn what you already have in place, what you’re doing well and where are your greatest opportunities for rapid improvement are just shoot me an email with diagnostic in the subject line to [email protected].

Again, an email to [email protected] with diagnostic in the subject line will get
you scheduled and take you through this evaluation to help you build the business you want.