A note from the host, Chantal Brodrick
Lets face it, the words financial management and fitness professionals don’t often go hand in hand. Generally because most of us would prefer to spend our time learning about the latest Kettlebell exercise than we would looking over our profit and loss statement!
That being said, understanding our business finances might not be everyones cup of tea, but it is a necessity when it comes to running a successful fitness business.
Back in 2015 I read the book, Profit First by Mike Michaelowicz and then later that year I had the chance to interview Mike for the first time. Let me start by saying I don’t love numbers – BUT – what I learnt from Mike was that finance doesn’t have to be complex and daunting. In fact there is a heap of basics that every business owner can learn pretty easily. As for the tough stuff…thats what book keepers and accountants are for!
Knowing how great the information was in our 2015 chat, in late 2017 I contacted Mike again, this time with a new brief: Help fitness professionals understand financial management, break the information down into 15 minute bite size segments and create actions (homework) for them to do each week to harness the new information they learn.
Without hesitation Mike (who by the way has now created three multimillion dollar companies and is the author of 3 books,
Profit First, The Pumpkin Plan and The Toilet Paper Entrepreneur) jumped right in and agreed to once again share his advice.
This time we covered 4 specific areas:
Chapter 1: Recourses to improve your knowledge around financial management
Chapter 2: Tips for improving cash flow in your business
Chapter 3: Strategies to reduce expenses
Chapter 4: How to stick to your New Year financial resolutions
All the information Mike teaches is timeless and universal, making the podcast and eBook a valuable resource for all fitness business owners, managers and fitness professionals.
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