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The Dark Side of a $10k Coaching Month - 118
Getting a $6,000 upfront payment doesn't mean you just made $6,000. It means you just took on six months of debt.
In this episode of Beyond The Pump, we break down the brutal reality of cash flow management and why so many coaches go bankrupt immediately after their first $10k month. Too many fitness entrepreneurs sell a high-ticket Paid-In-Full (PIF) package, immediately blow the cash on a vacation to Greece or a car down payment, and then realize they have to coach that person for free for the next half-year.
We explain the massive difference between Cash and Accrual accounting, how the ultra-wealthy actually manage their money, and the exact account structure you need to use so you never accidentally spend your operating budget.
Follow us: https://www.instagram.com/officialhcsa/ Follow us for more:
YouTube: https://www.youtube.com/@OfficialBeyondThePump
Instagram: @officialbeyondthepump
Facebook: https://www.facebook.com/share/g/B2uM6Fv5NWhdKbhq/
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By Andrew Garritson, Stephen KopshawGetting a $6,000 upfront payment doesn't mean you just made $6,000. It means you just took on six months of debt.
In this episode of Beyond The Pump, we break down the brutal reality of cash flow management and why so many coaches go bankrupt immediately after their first $10k month. Too many fitness entrepreneurs sell a high-ticket Paid-In-Full (PIF) package, immediately blow the cash on a vacation to Greece or a car down payment, and then realize they have to coach that person for free for the next half-year.
We explain the massive difference between Cash and Accrual accounting, how the ultra-wealthy actually manage their money, and the exact account structure you need to use so you never accidentally spend your operating budget.
Follow us: https://www.instagram.com/officialhcsa/ Follow us for more:
YouTube: https://www.youtube.com/@OfficialBeyondThePump
Instagram: @officialbeyondthepump
Facebook: https://www.facebook.com/share/g/B2uM6Fv5NWhdKbhq/