469. August Was Our Highest Revenue Month, and Our Lowest New Sales Month - Here's How [+ A Full Breakdown Of Our Business Model]
The Fitness Business Podcast with Erin Dimond and Jordan Dugger
Erin Dimond and Jordan Dugger
4.9 • 670 Ratings
🗓️ 14 September 2023
⏱️ 18 minutes
🧾️ Download transcript
Summary
We recently looked at all of our data during August and were surprised to learn two things: we had our highest revenue month ever and we have our lowest front end sales into our 90 day program. How can this be? In today's episode, I'll break everything down from roles to offer structure to backend offers. If you're wanting to grow or want to learn more about how a big business grows and operates, definitely don't miss this one!
Time Stamps:
(0:44) What We'll Cover Today
(2:14) Context on Me (Jordan)
(3:18) Our Highest Revenue Month
(6:27) Our Offer Structure
(8:14) Keys to Your Backend Offer
(12:10) Sales Team
(15:35) Growing Business Means Team Turnover
(16:29) Long Term Goal
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Transcript
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| 0:00.0 | Because I think the three most important decisions you can make in life are, number one, who you spend your life with, your romantic partner. I'm really happy about that. I have an awesome wife and business partner. Number two, what do you spend your time working on? Okay. And then the third thing is do you enjoy the people that you work on that thing with? If you can check those things off, then I think as long as you can look in the mirror and say that those things are in order, then you're going to enjoy the process of building a company so much more than just chasing some arbitrary finish line. |
| 0:28.8 | Yo, what up everyone? Welcome to FitBiz podcast. Jordan here. And I'm really excited to share with you today, really how we had our highest revenue month while also having our lowest sales month. |
| 0:38.3 | And I'm going to break down within this, our entire business model. Okay, so I'm going to cover a few things. |
| 0:43.0 | So how we had a $749,500 cash collected month that's not contracted. Like sometimes you'll find, you know, |
| 0:49.8 | people brag about having this big revenue month. And then really the reality was they only collected like 200,000, but they contracted the remaining amount. Not talking about that. But more |
| 0:58.2 | importantly, how we did this while also maintaining 45% net operating margins, working 30 hours a |
| 1:03.4 | week, and having a lot of fun doing it. And also what I think is going to be most useful is how |
| 1:08.1 | we did this while also having one of our lowest front end new sales months of the year. So I'm going to cover this in full transparency. So I'm going to |
| 1:16.5 | break down, basically open the hood of our business, give you a quick snapshot format of four things. |
| 1:21.2 | So first, I plan to show you the business model that we've created and how it's evolved over |
| 1:26.3 | the years to do $19 million |
| 1:28.1 | in total cash collected revenue in the last four and a half years. |
| 1:31.8 | And I'm going to break down our marketing systems, our sales systems, our offers, our team |
| 1:35.5 | structure. |
| 1:36.1 | And on top of that for each category, I'm going to basically open up the mistakes we made, |
| 1:40.1 | the lessons and how you can take pieces of this and insert them into your own business and how |
| 1:45.2 | you're doing things, really regardless of what size you're at. The third thing I'll cover is our |
| 1:49.8 | profitability and how I look at profitability in a business. There's some important things to note here. |
| 1:55.6 | And also, I'll talk about other income streams that we do have and how, you know, whether or not |
| 1:59.8 | you should consider thinking about multiple income streams. And finally, I'll talk about our long-term goal. |
| 2:04.8 | But first, I want to share a little context on me. For those who don't know me that well, |
| 2:08.9 | I don't share a ton of personal stuff on the podcast. I need to get better. But a lot of people |
... |
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