448. Investments: How Money Actually Works as a Business Owner

The Fitness Business Podcast with Erin Dimond and Jordan Dugger

Erin Dimond and Jordan Dugger

Health & Fitness, Nutrition, Fitness

4.6 • 667 Ratings

🗓️ 3 July 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Along with debt, this is something I really wish I would have understood sooner. Owning a physical gym was my first exposure to having expenses and investing most online coaches don't experience especially first starting out. Fast forward to today with a net worth of multi-millions, I've learned how to use money and investments as a tool for growing wealth and growing a business. I want this same mindset shift for you too and I want you to be able to adopt the investment mindset.

Time Stamps:

(0:47) Debt Episode

(1:00) Having the Privilege to Invest

(2:30) Investment Options

(4:25) The Investment Mindset

(7:58) Investing In A Program

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Transcript

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0:00.0	I swear the sooner that you realize that your effort spent on making money is so, so much more
0:05.2	valuable than your efforts spent on saving money, your life will change. I used to like clip coupons,
0:10.6	spend hours saving so much money, $30 a month at the grocery store. And when I just realized,
0:15.4	gosh, all this time and effort and energy I'm spending on this, what if I just got resourceful
0:19.1	and got help and invested in my
0:20.9	business? I have this vehicle here. Not everybody has that, right? People who have jobs don't have
0:25.6	this opportunity. Yo, what's up? Welcome back to the FitBIS podcast. So I actually started thinking,
0:32.3	I just recorded the last episode, which was all around why debt can be a great thing in the difference that nobody
0:39.7	has ever taught you about between debt and leverage. So if you have not listened to that,
0:44.0	I would go back to that episode and listen to that one. But I just had some additional thoughts
0:49.4	that I wanted to share. And I figured I'd break this into another episode. And I guess we'll title this one,
0:54.7	how to think about investing. Because as entrepreneurs, you have the ability and the privilege
1:02.4	to invest in a way that nobody else gets. And again, I share this stuff from a place like,
1:07.9	man, I just wish somebody would have taught me the stuff because they
1:12.0	don't teach you in school. You certainly aren't taught their entrepreneurship. And I just wish I
1:16.4	would have understood how money worked a little bit differently. And I just would have leveraged
1:20.3	more in the right places sooner. And I would have made a lot more money a lot easier.
1:24.3	My whole mentality was work hard, work hard. Middle class minds up, the harder I work,
1:28.0	the more I'll get. And it's just not true. You can use money to work for you. And as soon as I
1:34.9	started realizing that money was this abundant force and it worked for me, my life changed.
1:41.0	And I just could have realized it eight years sooner. So anyway, I want to, I want to talk about your potential opportunities to invest and hang in there with me,
1:48.3	because if you're thinking, I don't have any money to invest, I'll prove that wrong,
	...

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