273- BECCE, Building Equity and Collecting Cashflow from your Energy

Balancing a day job while spinning the plates of entrepreneurial dreams is a tightrope walk, and I'm here to share the highs and the balancing acts. Tune in to hear about my latest ventures in turning my studio, a hub of creativity and positivity, into a self-sustaining enterprise. We're on the brink of financial self-sufficiency, and I'll take you through the excitement of bringing new lifeblood into our space, while also keeping the heart of our mission beating strong — giving back to the community and nurturing lasting relationships.

This episode isn't just a ledger of profits; it's a blueprint for crafting a business that's a force for good. From fair wages to a nourishing work culture, discover how we're making a tangible difference within our little corner of the Twin Cities. I'll reveal our strategy 'Becky'—not just a name, but our mantra for Building Equity and Creating Cash Flow from Your Energy. As we prep for an invigorating 10-week cohort, I'll share our vision for this life-changing studio, spreading an ethos of positivity and gratitude, and the potential to create ripples far beyond Minnesota's borders. Join me on this rock and roll journey of business, balance, and the pursuit of a richer life in every sense of the word. Business Buyers Club
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Transcript

Speaker 1: 0:32

Hello, hello, happy Friday. Sun is shining, weather is a cool 51 degrees. We're gonna have a great day. So I was thinking about all that's happening. So a handful of things. So day job, it's been a lot of intense hours and it's chugging along nicely. And for the studios coming back, we're gonna have a pretty good month. I think we'll break even. For the studio studios coming back, we're going to have a pretty good month. I think we'll break even. And then we also have our challenge coming up. So we have a new cohort of members, not quite at where I wanted to be, but that's okay. We've got the right team place, so we'll make sure it's a good group.

Speaker 1: 1:06

Uh, and then also like the speaking things for buying a business and what that means and how to do it, as well as working on the affiliate side of things. So courses, referrals for marketing and all that stuff like how to monetize things. And I was thinking about like what's the driving factor, what's the juice, what's the energy behind all of these activities, because that's a full plate. Plus, I'm married, I have a wife, I've got kids. I need to be more present and interactive with my friends and my church because I'm not Way back before we had kids, I was volunteering once a week for my church for like an hour, so not a whole lot, but I haven't done that since having kids. But anyhow, all that to say, staying focused and on topic, the driving force behind all of this is to help create financial freedom, which is such a buzzword, so I have to find something different. But listen to an audio book today. My inspiration, my catchphrase, is Becky B-E-C-C-E. I'm doing this because I am a proponent of Becky, and here's what Becky is B-E-C-C-E Building. Oh shoot, I forgot. I wrote it in my notes Building equity and creating cash flow from your energy.

Speaker 1: 2:27

Building equity and creating cash flow from your energy, from your energy. So what does that mean? That means when you are working, like in my day job, it helps cover the bills, keeps our lights on, put food on the table, build out a solid network of professionals, like-minded people, that are great and that I want to keep up with. That's solid. 99% of the population will start their adult life with a day job. That's okay. Along with that, though, there's going to be the building equity side of things, and something that I've seen folks do well in life that have gotten to a decently comfortable financial position. They build equity from their work. They own a business, they are self-employed, they buy a house and then they're building equity in their house. They buy stocks and the stocks go up in value. They're building their net worth. They're having a financial base so that if they had to sell something, they have something that's sellable Sports cards, a house, collectibles from some other. They're building equity. They're building equity, equity, and that means it's something that's increasing in value, not just from their day job.

Speaker 1: 3:42

And sometimes building equity like something that I did. I had a quick run at grad school after magically having the MBA title in my work history, my salary popped. It jumped a good amount, like $50,000 overnight, like nothing had changed. I don't know if that was the market or if my job title, but like it was a $50,000 pop increase in the salary ranges that I was in conversations with. So I built equity in myself on the educational side of things. So I'll stop there.

Speaker 1: 4:18

The CC collecting cash flow. You need things that pay you money besides the day job. Cash flow is often like something that you see in, like rental properties, whether it be like a big warehouse or like a duplex, and people are paying your rent and now you, after you pay off your expenses, you have a little bit of money left over. That's collecting cash flow leftover. That's collecting cash flow. If you're renting your vehicle on, like a Turo, or you have an Airbnb that you're renting out. People pay you a lot, the costs are less than a lot and that leftover is cash flow and it didn't require you to be clocking in and clocking out to get that payment.

Speaker 1: 4:55

Now you probably have time, like with a Turo or an Airbnb. Yeah, they're going to be DMing you asking for keys. What's the password? How do you work the AC? How do you? What's the Wi-Fi? How do I get onto my Netflix account on your smart TV? So it's not like you, just you own it. They will come and then they pay you money and it's zero hassle or zero energy, like there's some, there's some commitment on it, but you're collecting cash flow from this.

Speaker 1: 5:21

You have something that's making some revenue. You pay off the expenses. You're getting cash flow. Right now, owning the gym technically, cash flow would be the profit, but I'm paying myself a salary because the gym's losing money. So I'm paying myself a small management salary from all that and that's some of my cash flow. If I work 100 hours in the gym or if I work zero hours in the gym, that salary is coming to me. There's a little bit of something there. So that's collecting cash flow. And when you collect it, you can either consume it like buy a car, buy some new shoes, go out and go see a sports game, whatever. Ideally, you're using that cash flow and you're putting it towards other good investments. That's what you should be doing, but not everyone does that. Some people do it. I'll probably do a little bit of it. Right now. I'm plugging it back into stuff like this Collecting cashflow.

Speaker 1: 6:12

And then that final E from your energy and that's a very broad term because it needs to be broad. Your energy is the knowledge you collect from real world experience, from work experience like sales, coding, graphic design, working with AI platforms. There's also the energy of helping other people accomplish what they need. If you're a counselor, therapist, a confidant, a coach, a mentor, those people's energy are very guiding and mastery in nature. And that's a completely different side of things, because some of the biggest paid people or highest paid people out there are not massively loud. They're not. They're coaches, they're guides, they're trainers. They help you be better at what you do and you are good at something or some things.

Speaker 1: 7:09

If, let's just say, you're at least 25, you've got skills in something. If you're under 25, you've got skills and stuff that is constantly changing rapidly. But if you're if you're 50 plus, you have you should have emotional intelligence. You should have skills in a few areas that the young ones need to know how to do, how to network, how to build relationships, how to build for the long term financial life, how to see the long term picture with your family, how to ensure that you're living a healthy, long term, balanced life. You have something that people need from your energy. It's either your knowledge, your life skills, the lumps, the winds, everything in between. Your life skills, the lumps, the wins, everything in between. So all I have to say my new catchphrase that I'm not going to patent it or copyright it my big thing is building equity and collecting cash flow from your energy. That's my buzzphrase, that's my. I did not hear it from anybody, I don't think it's even out there. I just put it on my Instagram this morning. So mark your calendars. If it's out there, check to see if it was before today's release episode. But all that to say what's the? That's the whole reason behind all of this. My goal is to have this gym serve people like today.

Speaker 1: 8:29

Another member member who just recently became or I don't know if she's an instructor. I want her to be an instructor. She's got a great life story. She's getting married soon. She had a huge health journey down and up. Now she's on the up and up.

Speaker 1: 8:41

Physical pain, overweight, bedridden. For a couple months could not stand for over 30 seconds because of a traumatic injury, a physical accident. Today she's able to lift her hands above her head. No numbness or tingling in her hands, her toes or her body. She's off the pain meds. She's now building muscle. Her diet is back on normal, her gut health is fantastic. Her outlook in life is incredible. She's getting married to the love of her dreams. She is able to eat anything under the sun and it doesn't give her problems in her gut or digestive system. Those are wins. Those are things that people need.

Speaker 1: 9:20

We need 300 of those members in our studio at any given time. We have a lot of members that hang out. It's a social club, it's a workout club. That's cool, that's amazing. Let's have those. We also need people that are like okay, enough is enough. I gotta change.

Speaker 1: 9:35

And so having a, a business that's profitable, that pays our staff a fair wage and also is serving our community when I say our community, I mean the folks that live within 15 miles of our location and their lives are a before and an after and a oh my goodness, I cannot believe I was living life and not living life to the fullest. So that's the point of the business. That's what that's going to do. Plus, I'm going to pay a little something, something so that I can have a little cash flow to put into other areas that are valuable and meaningful and also create content for all this. That's going on to provide speaking and mentoring, monetization routes so that this can be more of a focus than I'm currently given it right now.

Speaker 1: 10:26

So that's where we're at, that's where we're going, that's the new motto. Becky Becky is my go-to now. So we're going to do this. We're going to have a great check-in with the manager, we're going to have a stellar 10-week cohort, even if we're at half of the target capacity. We're going to find the good, find the gratitude, speak positively and we're going to lead the pack with how we are creating a life-changing studio in the Twin Cities of Minnesota and beyond. That's where we're at. That's where we're going. Let's rock and roll.