Speaker A
So if you need money, that's the number one easiest thing to do. And so what I wanted to cover today was I was calling cash flow oxygen—how to get some. But this is actually part of a larger discussion.
Learn how to prioritize cash flow and business coaching strategies to quickly improve your gym or coaching business's financial health.
Key Takeaways
- Cash flow is the top priority and must be addressed before other business improvements.
- Self-coaching is critical because you make the final decisions for your business.
- Focus on opportunities and threats first (ATSU) rather than strengths and weaknesses.
- Selling to existing customers is the fastest way to generate immediate revenue.
- Retention and culture improvements are important but are longer-term solutions.
What the video covers
- The video discusses the importance of cash flow as 'oxygen' for businesses, especially gyms and coaching businesses.
- It emphasizes the role of self-coaching and prioritizing actions based on urgency and impact.
- Introduces the ATSU framework (Opportunities, Threats, Strengths, Weaknesses) as a reversed SWOT analysis prioritizing cash flow and threats.
- Highlights the need to focus on immediate cash flow opportunities before addressing culture or retention issues.
- Explains that retention improvements take time and won't solve urgent cash flow problems.
- Suggests running campaigns targeting existing customers as the fastest way to generate revenue.
- Mentions the value of ancillary programs like one-on-one nutrition accountability to increase revenue.
- Stresses the importance of experience in coaching to have more effective strategies.
- Provides practical examples of quick cash flow plays such as limited coaching offers and upselling.
- Encourages business owners to focus on high-impact actions that generate immediate cash before long-term fixes.
Chapters
- 00:00Introduction to Cash Flow as Business Oxygen
- 00:42The Importance of Self-Coaching in Business
- 01:38Using ATSU Framework for Business Analysis
- 02:26Identifying Bottlenecks and Threats
- 03:05Prioritizing Cash Flow Over Culture Fixes
- 04:01Retention Challenges and Cash Flow Timing
- 04:52Generating Revenue from Existing Customers
- 06:12Coaching Experience and Strategy Arsenal
- 09:05Quick Cash Flow Plays and Campaign Examples
- 11:34Upselling and Ancillary Services for Growth
Full Transcript — Download SRT & Markdown
Speaker A
um that i'm half targeting towards my coaches um and half y'all can just join in on what i would be talking to them about and so um one of the skills that a coach has to have and if you are coaching yourself
Speaker A
That I'm half targeting towards my coaches, and half y'all can just join in on what I would be talking to them about. And so one of the skills that a coach has to have, and if you are coaching yourself,
Speaker A
i get coaching but you have to be your own coach because you're the one who's going to be making the decisions for your business more than anyone else right and so oftentimes when i am on the phone with a
Speaker A
You are the coach. You're the master of your own domain. You're the coach of your own business, right? And you have to coach you better than anyone else can, right? That's good to have outside counsel. That's what we have coaching. That's why
Speaker A
actually reversed that and they called an atsu and what that means is opportunities threats are disproportionately um weighted as far more important and then then you have strengths and weaknesses and so the reason that i'm saying this is that most times when
Speaker A
I get coaching. But you have to be your own coach because you're the one who's going to be making the decisions for your business more than anyone else, right? And so oftentimes when I am on the phone with a
Speaker A
i'm going to be looking for cash flow opportunities that are sitting on the ground and massive threats those are the two things i'm looking for in the beginning once those boxes check off then we go down to strengths and weaknesses for
Speaker A
Business owner, I am listening for the majority of the time of that call, and I'm looking for certain things. And so some of you may have heard of a SWOT analysis, right? Strengths, weaknesses, opportunities, and threats. More commonly now in MBA schools, they've
Speaker A
tomorrow right they need money and so like it's one of the things that drives me nuts because it's not prioritizing the actions according to the to how important they are right and so an example of this i mean i just use the
Speaker A
Actually reversed that and they call it ATSU. And what that means is opportunities and threats are disproportionately weighted as far more important. And then you have strengths and weaknesses. And so the reason that I'm saying this is that most times when
Speaker A
absolute [ __ ] um that's if you need to make payroll in the next 30 days implementing retention system is not going to solve your problem it's going to take 12 weeks for that set for that to pan out now
Speaker A
I'm listening to a client who's saying, "I'm struggling. I'm having an issue where I'm at a bottleneck." It doesn't necessarily need to be that they're losing money, but just like, "I can't get past this point. What's the issue?"
Speaker A
you know you're turning 30 mother month and that becomes a threat it's not even a weakness it's a threat itself to your business now the number one thing that i see and this is like when i'm when i'm getting on the
Speaker A
I'm going to be looking for cash flow opportunities that are sitting on the ground and massive threats. Those are the two things I'm looking for in the beginning. Once those boxes check off, then we go down to strengths and weaknesses. For
Speaker A
yesterday i was like i wonder if i could take one call with everyone if i did 30 minutes for every person once a month and i was like oh no it's still taking me three months so i can't do it i tried
Speaker A
Example, if someone is bleeding cash, I'm not going to tell them to fix their culture, right? Fixing their culture is something that they absolutely need to do, but it's not going to be the thing that's going to save their business
Speaker A
plugged into your facility on top of your group training that is the biggest opportunity that sits on top of your business right now would you like to have an extra fifteen thousand dollars a month spent zero dollars in ad spend get it in 28 days
Speaker A
Tomorrow, right? They need money. And so like, it's one of the things that drives me nuts because it's not prioritizing the actions according to how important they are, right? And so an example of this, I mean, I just use the
Speaker A
opportunity cost of all of the things that we can do doing this alternative what other things are we doing that we're saying no to right picking out which of the opportunities to focus on is usually the focus of a good coach and this is where
Speaker A
Culture example, but let me look at another one. Here's a more relevant one: retention, right? And believe me, I'm like the king of making sure that you're doing a good job to your customers, right? But if your retention is [expletive] right, it's
Speaker A
okay we need to run more ads we need to work our leads harder we need to sell better those are all very true things those in my opinion would sit within the strengths and weaknesses area right but if you are bleeding cash
Speaker A
Absolute [expletive]. If you need to make payroll in the next 30 days, implementing a retention system is not going to solve your problem. It's going to take 12 weeks for that to pan out. Now,
Speaker A
start a campaign bring people in market it's not like that takes time and if you don't have it then there's only three ways to make money and all three are selling to your existing customer base all right in a gym
Speaker A
This is what you should do absolutely after you have milked out all the big opportunities that sit in front of you and ensure that you're not going to kill yourself from a threat standpoint. Now, if your retention is like you're
Speaker A
transformation it's gonna be awesome and i'm only like i said i'm only taking three people on it's me three thousand dollars you know text me if you want it just like that you make nine grand all right you have 100 people you're gonna
Speaker A
You know, you're turning 30 a month, and that becomes a threat, it's not even a weakness. It's a threat itself to your business. Now, the number one thing that I see, and this is like when I'm getting on the
Speaker A
time to have more perspective to make better judgments about the business next play is you run an internal play to your existing customers right now i guess this one would technically be like subset and subset b which would be
Speaker A
Phone now, and like I occasionally take calls, which I want to kind of just poke and listen. And I try not to advertise it because I couldn't. Like I actually thought about this like
Speaker A
those things you can market to your existing customer base and you have two things that you can do from there one is you can actually sell the thing itself which normally you'll get about 20 25 take rate of your entire customer base
Speaker A
Yesterday. I was like, I wonder if I could take one call with everyone if I did 30 minutes for every person once a month. And I was like, oh no, it's still taking me three months, so I can't do it. I tried
Speaker A
made five grand but then you have some more fulfillment so maybe the painful thing that the three people might be a better player for that so we'll see which one if you did the other one recently then that that would
Speaker A
And I thought about it. It can't work. So all I do is give you the lessons that I have learned from the people that have spoken with. And so if, for example, you don't have a one-on-one nutrition accountability program that you have
Speaker A
once they start because you'll get an 85 take rate and you'll close 80 90 on the upsell right so it's more work but it again in a short period of time you can sell people other stuff that's ancillary
Speaker A
Plugged into your facility on top of your group training, that is the biggest opportunity that sits on top of your business right now. Would you like to have an extra fifteen thousand dollars a month, spend zero dollars in ad spend, get it in 28 days,
Speaker A
then they you never have to touch inventory but point is is like you're taking something for five dollars you're selling it for 20 and then you just take the in-between and that's it the shoppings you keep the money
Speaker A
And you have literally no risk, and it's only profit that you'd add on top of your business? Basically no cost. You don't have that? Cool. Nothing else that you're going to do is going to matter. And so this is called
Speaker A
that is going to go into dealing with any kind of internal play so beyond the first thing which is like quick text blasts limited spaces make 10 grand tomorrow right that's like cool make 10 grand tomorrow but if you want to make like if you want
Speaker A
Opportunity cost. Of all of the things that we can do, doing this alternative, what other things are we doing that we're saying no to, right? Picking out which of the opportunities to focus on is usually the focus of a good coach. And this is where
Speaker A
ask them what their weight is how they're doing make sure they show up at the gym what this also does is your churn goes through the floor as in like your retention goes up people stop turning up because they have a regular
Speaker A
Experience of a coach matters because they have more plays in their arsenal. They have more cards up their sleeve that they have seen be executed with precision over a short period of time. And so to a new coach, they may only have
Speaker A
if i gave everyone in my gym all 150 people an amazing 101 experience that they've never had before and after this 28 days you can keep doing this for 49 bucks extra a week right and that's half of
Speaker A
Okay, we need to run more ads. We need to work our leads harder. We need to sell better. Those are all very true things. Those, in my opinion, would sit within the strengths and weaknesses area, right? But if you are bleeding cash
Speaker A
than a third i think half would stay i think it's higher than a half but let's just say half right half stay now you're not going to get 100 take rate because you never get 100 take rate on these types of things but you get 85
Speaker A
And you need to make money fast, right? There are three things that will make you money fast. One is, like, all three of them, by the way, include selling [expletive] to your existing customers. That is it. You don't have enough time to
Speaker A
goes to a coach cool so you pay 2 400 out of your out of your 12 right so you're at 96 and now every single month from this month going forward you make your 10 grand a month and that is profit that is in your
Speaker A
Start a campaign, bring people in market. It's not like that takes time. And if you don't have it, then there's only three ways to make money, and all three are selling to your existing customer base. All right, in a gym,
Speaker A
long-term player sometimes if you need it fast fixing your culture is not going to do it you need cash today and so once you can have that and you can plug the hole or you can plug a threat or whatever it is
Speaker A
The first and easiest and least amount of effort is to take three people, run a reason-why campaign, which is like a, "Hey, I just turned 30, and because of 30, I'm going to take three people with me on a one-year
Speaker A
nutrition accountability by different um because of marketing so don't get scared away nutrition accountability is kind of part of the game when you're a gym owner um that being said it's free money and so if i'm talking to a gym owner i'm going to
Speaker A
Transformation. It's going to be awesome, and I'm only, like I said, only taking three people on. It's me, three thousand dollars. You know, text me if you want it." Just like that, you make nine grand. All right, you have 100 people, you're going to
Speaker A
your business there's probably a million things that you could do and arguably should do but which one thing given the same amount of time is going to make you the most money forget about everything else and just do
Speaker A
Have to retake the offer. All right, so if you need money, that's number one easiest thing to do. You don't want to sell all of those. Limit it. Limit yourself. But those cash pops help, right? Cash is oxygen, so you can buy yourself
Speaker A
play which one is best suited to you right now that can have high impact and and require low resources right those are the best high impact high resources like yes it's going to take a lot but it's going to it's going to cost a lot
Speaker A
Time to have more perspective to make better judgments about the business. Next play is you run an internal play to your existing customers. Right now, I guess this one would technically be like subset A and subset B, which would be
Speaker A
person with 60 clients one person can handle that and that can be you if you want to you can keep the extra 2400 a month it's your call but all that to say if you're looking at your business
Speaker A
The final two. If you have, like, in a normal gym, if you just want to run like a big booty boot camp or an abs challenge or whatever, right? Doesn't really matter. Buns and guts, any of
Speaker A
transformation should i run an internal play should i run a a paid in full should i run a year of change should i run a like should i run a hybrid one-on-one accountability nutrition right what should i do
Speaker A
Those things, you can market to your existing customer base. And you have two things that you can do from there. One is you can actually sell the thing itself, which normally you'll get about 20 to 25 percent take rate of your entire customer base.
Speaker A
if you can if you can wait two weeks to make the money you're gonna do an internal play if you can wait a month to make the money then you should probably do hybrid give everyone the free play and now you just
Speaker A
If you sell between 100 and 200, right? And so if you have 150 people, 25 would be whatever that is. I don't know, like 35-ish, 40-ish, whatever, somewhere in there, right? And so you have 35 people who sign up at, let's say, 150. Okay, well,
Speaker A
worth it arguably what most people do not that and that's why they struggle so don't be one of them cash flows oxygen make sure you prioritize the opportunities that are bigger and once you do that once you execute
Speaker A
Made five grand. But then you have some more fulfillment, so maybe the painful thing that the three people might be a better player for that. So we'll see which one. If you did the other one recently, then that
Speaker A
you can wait 12 weeks and now you have cash flow from the recurring revenue stream that you took a month to build all right so i hope that makes sense drop a like drop a comment tag someone if you feel like it
Speaker A
Would probably be the play dead. Now, if you wanted to make even more money, right, then you should make the thing free that you're giving away and then upsell them into food and supplements, right? Upsell them additional services
Topics:cash flowbusiness coachingATSU analysisgym businessretention strategiescoaching tipsquick revenuesmall business financecustomer upsellbusiness priorities
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