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The Fitness Business Podcast with Erin Dimond and Jordan Dugger

398. Scaling Your Coaching Company: What A CEO Should Know Beforehand

The Fitness Business Podcast with Erin Dimond and Jordan Dugger

Erin Dimond and Jordan Dugger

Fitness, Health & Fitness, Nutrition

4.9670 Ratings

🗓️ 9 January 2023

⏱️ 22 minutes

🧾️ Download transcript

Summary

If you're wanting to scale your coaching company in 2023 or it's something you desire in the future, please listen to this episode. As someone who has made all the mistakes when it comes to hiring along with scaling and selling a successful coaching company, there are some realities about leadership you need to know. I want to share the difference between two leaderships styles, understanding revenue vs profit, share a helpful perspective shift on leadership, and more!

 

Time Stamps:

 

(0:51) Listen If You Want To Scale Your Company

(2:41) Why I'm Qualified To Talk About This Topic

(3:56) IFCA Success and Staff

(5:50) We've Made All the Mistakes

(6:17) Do You Have What It Takes to Be a CEO?

(8:44) Advice for Hiring

(12:18) Breaking This Down

(12:36) Two Types of Leaders

(14:15) Revenue vs Profit

(17:30) The Truth about Scaling a Company

(18:33) What a CEO is Responsible For

(20:44) Helpful Perspective Shift on Leading

(22:36) Resource Allocation

(23:61) Always Responsible for Acquisition

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Learn More About Impact Fitness Coaching Academy,

 

To Learn More About I.F.C.A. - And How We've Helped More Than 1,700 Fitness Coaches, Experts, and Influencers Grow a 5-35k+ Month Online Fitness Business Without Paid Ads, Complicated Funnels, or Even Having a Large Social Media Following 

 

Click Here→ to VISIT THE IFCA PAGE 

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Transcript

Click on a timestamp to play from that location

0:00.0

So in the motive, they talk about how there are two types of leaders. There are responsibility

0:04.0

based leaders and reward based leaders. So a responsibility based leader, they think, how do I

0:11.1

step into a leadership position to do the things that are needed for the company or for the growth

0:16.7

of whatever you're doing? Because that's now my responsibility. Whereas reward base is like,

0:21.3

oh, now that I'm a leader, how can I do less? I deserve to be able to do the things that I want.

0:26.1

I deserve, you know, to do, you know, what it is in the business that I enjoy because I've put in

0:31.1

the work. I've put in the hours. So now I deserve X, Y, Z. Hey, what's up guys? Welcome to the FitBIS podcast. Jordan here.

0:38.3

And what we're going to talk about today is what a CEO is responsible for versus a kind of

0:44.3

coach solopreneur.

0:45.3

And I hope that you listen to this if you're thinking about potentially scaling a company.

0:50.3

When I say scaling a company, what do I mean by that?

0:53.3

Well, when we think about our business

0:55.1

model as an online fitness coach, we want to first, like, identify what are the things that we're

1:00.0

leveraging? So leverage is the way that you're able to get more output for disproportionate inputs.

1:06.8

So what that means is like the highest amount of leverage that you're ever going to get in

1:10.5

business is something like software, right?

1:13.2

Which is also extremely competitive and hard to get into because it's also the highest leverage, right?

1:18.7

So if you think about what let's say Bill Gates created, you know, he created like different software applications and he was able to grow a billion dollar company because he could have a small team

1:29.0

and he could like the more software he sells doesn't require equal number of people to support that

1:34.7

software. So it's like super high leverage, right? And it's really sticky and all that. But when we think

1:39.5

about an online fitness coaching company, what we're leveraging is human capital, right? It's connection,

1:43.7

it's accountability, it's support.

...

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