Revolutionise your fitness business: master your money mindset for unstoppable growth & sucess
Are you tired of putting in long hours, sweating it out to grow your fitness business, yet somehow still falling short of your financial goals?
If I’ve just described your situation down to a tee – and you aren’t the only fitness business owner in this position by any means! – then keep reading to learn how working on your money mindset can revolutionise your business.
I’m going to dive into the nitty-gritty of different money mindsets, examine their impact on your business decisions, and arm you with practical tips, tools, and resources to help you supercharge your money mindset and set your fitness business on a blazing path to growth.
Whether you’re a gym owner, a personal trainer, or fitness studio owner, this will help you to smash through financial barriers and unlock your true potential.
So, let’s go!
People talk about sex more openly than they talk about money!
While it’s great that in this day and age we are generally much more open about personal finances than we were in the past, we are still nowhere near as open as we need to be.
Growing up on a council estate in London, money was an open discussion when I was a child. I always knew what my parents earned, how much the rent was, how they made their money go further, what a pension is, and how mortgages work.
These days, as an accountant of over 15 years and a money mindset coach for fitness business owners just like you, I am incredibly passionate about demystifying the concept of money mindset for my clients.
Talking about money to me is a no-brainer, if we share our knowledge and know-how then everyone benefits.
Right now, it feels like there’s a top-secret club for understanding the world of finance, and I don’t want to be part of that.
So what IS money mindset?
Simply put, your money mindset is the set of beliefs and attitudes you hold about money that influences your financial decisions and behaviours.
As a business owner, your money mindset can significantly impact your business growth, investment choices, and overall financial well-being. A positive money mindset (or an abundance mindset) allows you to recognise opportunities, make confident financial decisions, and invest in your business’s growth.
On the other hand, a negative money mindset (or scarcity mindset) can lead to limiting beliefs, fear-driven decisions, and hindered business growth. Cultivating a healthy money mindset is crucial for a business owner to achieve financial success, maintain a stable cash flow, and create sustainable growth.
Flex your financial muscles and identify your money mindset as a fitness business owner
There are five super simple steps you can take to help you figure out whether you have a positive or negative money mindset – or whether you’re somewhere in the middle.
First of all, pay attention to your thoughts when money pops into your mind. Are you thinking about all the fantastic opportunities it can bring, or are you stuck on not having enough of it? Reflect on how you feel about success, wealth, and your own self-worth when it comes to money
Next, take a good look at your spending, saving, and investing habits. Are you a bit too free with the purse strings, or do you find yourself holding back on crucial investments because you’re afraid? Are you dodging opportunities to grow your business due to financial fears?
Then, consider your go-to move when money troubles come knocking. When you face financial challenges, do you see them as massive roadblocks, or do you put on your problem-solving hat and learn from the experience?
Another good way to determine what money mindset you have is to consider whether you’re cool with talking about money matters or if you tend to dodge those conversations because they make you squirm. Are you open about finances, or do you keep it hush-hush?
Finally – and the biggie – can you spot any money patterns from your past? Money scripts are sneaky beliefs about money that we pick up from our upbringing and past experiences, and everybody has them. See if you can identify any patterns or behaviours in your life that might come from these hidden scripts.
If you find that you’re dealing with mostly negative beliefs, fear-driven choices, and avoiding money talk, you might be struggling with a scarcity mindset. On the flip side, if you’ve generally got a positive outlook on money, make confident financial decisions, and embrace open conversations about finances, you’re likely rocking an abundance mindset – woohoo!
Whipping your money mindset into shape will set your business up for some serious gains!
Here are a few practical tips to get you started on your journey towards a healthier financial attitude – and a growing bank balance:
Like crushing a fitness challenge or training for a marathon, having clear financial goals for your business will give you something to work towards. Break down your long-term goals into smaller, manageable milestones, and celebrate your progress along the way.
Knowledge is power, so dive into personal finance and business finance resources, such as books, podcasts, or online courses, to strengthen your understanding of money management. The more you know, the more confident you’ll be in making sound financial decisions for your business.
Just like a motivating workout buddy or an encouraging personal trainer, connecting with like-minded business owners who have an abundance mindset will inspire you to adopt healthier money habits and grow your business.
Identify any of those negative thoughts or beliefs about money that might be holding you back – and then challenge these beliefs! Look for evidence that disproves them, and replace them with empowering thoughts that support your financial goals.
Appreciate the financial wins and successes you’ve achieved so far in your fitness business, just like you would appreciate every mile marker on a marathon. By focusing on what you already have and expressing gratitude, you’ll cultivate a more abundant mindset.
If you’re struggling to change your money mindset (and there’s no shame in this because it’s challenging to do alone!), consider working with me as your money mindset coach. I specialise in helping fitness business owners just like you to reshape your financial beliefs and habits.
Ready to level up your financial fitness? Let's get started!
Let’s face it – talking money and tackling your financial habits can feel like a workout for your brain. But, just like hitting the gym, it’s totally worth it!
By being open about finances, you’re taking charge of your financial future and making way for smarter decisions. Remember, we all have our own money stories. It’s natural and normal.
The good news is, with a little help and encouragement, you can break free from those old tales and flex your way into a healthier money mindset!
Head over to Services – Southbourne Accountancy & Business Services to learn more about working with me as your money mindset coach, or connect with me on Debbie Hancock | Facebook.