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The Fitness Business Podcast with Erin Dimond and Jordan Dugger

115. How The 2 TRILLION Dollar Stimulus Package Affects Your Coaching Biz

The Fitness Business Podcast with Erin Dimond and Jordan Dugger

Erin Dimond and Jordan Dugger

Health & Fitness, Nutrition, Fitness

4.6667 Ratings

🗓️ 30 March 2020

⏱️ 21 minutes

🧾️ Download transcript

Summary

You might have heard that President Trump and the United States Senate just signed off on a massive 2 TRILLION dollar stimulus package in this time of crisis. While the long term ramifications won't be known for a while, it's important to understand how this will help your coaching business in the present moment. We will also cover some other provisions you might have missed in regards to what is happening currently. 

 

Time Stamps:

(0:20) Optimism

(1:35) IFCA

(3:00) The Shift

(3:37) Investing in Yourself and Direct Payment

(5:45) The Opportunity

(6:20) Scott Olford Story

(7:30) Student Loan Debt

(13:11) Unemployment

(14:30) Main Takeaways and Doubling Down

(16:25) Warren Buffet Quote

(18:13) Doubling Down on Support

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Transcript

Click on a timestamp to play from that location

0:00.0

What is up, everyone? Welcome back to the flow state of mind podcast. Aaron and Jordan here today to talk about

0:04.3

something that you certainly want to pay attention to. As you know, we've been talking about the current

0:09.2

economic environment that we're living in. And we want to come today with a little bit more optimism.

0:13.6

Well, I'm always coming with the optimism. I'm going to come today with some more optimism, rather.

0:17.7

Yeah, but this applies to absolutely everybody not just business

0:20.9

owners and guys there is a silver lining if you choose to look for it and this is something that I think a

0:26.4

lot of people well it just it just came out so obviously a lot of people don't know much about it

0:29.7

so I'm excited that Jordan is Jordan's idea and I'm excited to go for it yeah so I a little background

0:35.5

or what we're going to talk about today is essentially to break down the two, two and a half or $2.2 trillion stimulus package, which was just approved by our White House. It was signed off by Trump, I think, yesterday, the day before. And what actually that means and how that could possibly impact you as a coach or even if you're not a coach, or just somebody who listens to this more for fitness and for you know mindset and just because you like aaron and i whatever it is it's going to affect

0:57.8

everybody so we're going to break that down and just kind of talk about the semantics but i do want to

1:02.4

first like i studied economics in college so this kind of stuff really does fascinating me because

1:06.8

a lot of what we're going to talk about today is sort of cause and effect. It's Keynesian economics, which means it is how does placing action on an economic model impacts the model, right?

1:17.6

It's usually not just direct cause and effect. It's not like, oh, we put money here and then this happens.

1:22.6

Like how does it affect multiple layers of situational analysis? And that's what these economic models try to predict.

1:29.3

And, you know, we're going to talk about what we think will happen or what the experts are saying.

1:32.4

But at the end of the day, who knows? Yeah, guys. And just want to say, you know, by the time you're

1:35.8

listening to this should be, we should be about five days left for enrollment within IFCA.

1:40.1

So a lot of what we're going to talk about is really encouraging you to double down on yourself today and to take the chance of investing right now. It's a perfect time to invest. We've got all the opportunity at our fingertips. And what I'm going to share with you today is basically going to prove to you that if you're in a position now to invest in yourself to build a coaching business in three months or so from now, there's going to be an influx of money into our

2:01.3

economy, which is going to be spent somewhere. Right. So there, I mean, it's really easy to get

2:05.8

wrapped up in what's going wrong and fall into fear and scarcity. And I keep saying this over and over

2:11.5

and over on social media on the podcast. That's, that's exactly why in times like this that they say

2:15.4

the rich get richer and the poor get poorer, there becomes a huge divide and it has everything to do with how you handle it. So we'll get through

...

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