Accounting and Bookkeeping Tips for Fitness & Health Coaches
Release Date: 11/07/2019
Former Journalist Tips to Create Content to Reach Over 50 Clients
She Means Fitness Business
“I wasn’t marketed to anymore.” My guest today points out a glaring still-existing dilemma in our fitness industry. Even in this age where menopause and longevity being buzzwords of the year, images and marketing terms are centered around young, youthfulness, and anti-aging. Images of young, fit individuals in bra tops still prevail. If you want to reach over 50 clients, you have to know what to say and what not to say. Jay Croft creates original content for trainers, gyms and studios. Everywhere you write, speak, or create video, you are a copywriter. I rounded up a professional...
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How to Develop Relationships with Medical Professionals
She Means Fitness Business
Developing relationships with medical professionals was going to be easy once Exercise is Medicine™ was announced! Trainers and gyms thought it was going to be great. Imagine it raining clients told by their physicians to exercise and start working with a trainer. No one came. "Exercise is Medicine was established in 2007 by the American College of Sports Medicine to inform and educate physicians and other health care providers about exercise as well as bridge the widening gap between health care and health fitness."() It's Up To YOU. You want an endorsement from a...
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Creating Shared Experiences with Clients to Deepen Relationships and Loyalty
She Means Fitness Business
If you’re hoping to create a retreat or simply to deepen relationships and loyalty among your clients and members, (as we all should), then you’ll love this. From hosting retreats for more than a decade I learn something new every time. My retreats look very different from the first I hosted over a decade ago. And I’ve learned the most from my attendees after the retreat. Having quiet time to journal on a trail and cooking together were two things suggested and requested. Among the most fun activities we did during a recent 4 ½ day retreat was charades. We also held a team...
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Longevity and Exercise How Can You Help Clients Live Longer?
She Means Fitness Business
What’s the connection between longevity and exercise? Are you helping clients optimize longevity? Do you know it’s like a trending topic and NYT bestselling titles all have something to say about youth, younger, living longer stronger and better. You’ve got more time with clients than doctors with patients, and more opportunity to positively impact. You also have more opportunity than ever to leverage what it is you do for your own business longevity. So this very short episode with Chris Burres, host of an upcoming longevity summit will offer some quick insight from...
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10 Top Podcast of 2023 | She Means Fitness Business
She Means Fitness Business
Although the year is not quite complete and it’s true that sometimes the end of the year podcasts get the short sheet, I love compiling this episode for many reasons. First, it’s like conducting a poll on where you want and need the most help in your business…without conducting a poll. Second, it’s a real eye opener to see whether hosting guesst or doing solo content where I’m sharing behind the scenes of building a business resonate most. This year, it’s been the business how-to sessions that mattered most to you. A few stand-outs though that made it into this list...
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How to Get Your First Midlife Coaching Client
She Means Fitness Business
Ask. If you want to get your first midlife coaching client (or your hundredth) you’ll have to ask. As you listen, this is a day in the week that ends in “y.” If you didn’t ask someone to become a client and you want clients, are your actions congruent with what it is you say you want? I could give you a whole lot of platitudes here. I could share content that suggests you define a niche and create an avatar. And there are plenty of episodes here about that, but this isn’t one. To get your first midlife coaching client isn’t hard given women tend to seek trainers and support...
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5 Ways to Coach a Better Metabolism in Menopause
She Means Fitness Business
In a recent episode I shared how to help clients with a flat belly. If you haven’t heard it, and this one appeals to you, you’ll want to listen. (stay with me! I’ll link to it in show notes) Where metabolism is concerned there are two considerations: During Exercise Outside of Exercise One is what happens 30-60 minutes a handful of times a week. The other is about what happens the other 23 or 23 and a half hours of the day. Which would you want to boost? The consideration you have to make is that often a tough exercise session will make people...
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4 Cs to Grow Your Health Coaching Business This Year
She Means Fitness Business
Welcome to She Means Fitness Business, the go-to podcast for female health and fitness professionals looking to supercharge their business growth this year. In this episode, we’re diving deep into the 4 Cs, a proven framework to help you take your health coaching business to new heights. Whether you’re just starting out or looking to grow and scale your business , these strategies are tailored to help you thrive. Get ready to transform your health coaching business and achieve your goals! Get ready for a little tough love as you coach yourself answering these questions. ...
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Health Business Email Marketing Mistakes that are Killing Revenue
She Means Fitness Business
If your health business email marketing is not up to date with current delivery parameters, in tune with your community and continually cleaned up, you need to brace yourself for 2024. In this episode I’m breaking down the most common misconceptions that result in mistakes. No matter whether you’re starting or you’ve got a list, you are primed to do better. Email marketing is a puzzle for all industries but the secrets are simple. Serve your customer. Offer more value than promotions earn the right to put a promotion in front of them. Your success in any...
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How and When to Raise Your Rates | Health & Fitness Business
She Means Fitness Business
Is it time to raise your rates? If you haven’t for a year or two and definitely since pre-pandemic I would absolutely recommend you look at this. I’m releasing this episode with a focus on end of year promotions and start of year implementation. It’s the perfect time for a health professional to look at raising rates. When you get started, you ask how much do I charge? There are a lot of things to consider in answering this question. A good rule of thumb though is always err on the high side. It’s much easier to reduce rates than raise your rates. So it all should be...
info_outlineAccounting and Bookkeeping don’t come naturally to most fitness professionals. You’ve got so many other hats to wear that it is likely something you only think if you start up and need a loan or investors. If you’re a trainer or coach going solo or online, you may never have needed (or so you thought) additional revenue.
Have computer, open for business may have been your motto. (I get that, it was mine too, until I realized all the courses I needed to invest in and the contractors who I needed to build out what I wanted).
Taxes are No Joke
If anything is a guarantee in fitness business and life, it’s taxes. Building a sustainable fitness business that’s truly a career not a hobby is not easy. It’s easy to spend hundreds or thousands on tights, music, and equipment and realize you still have no clients. With guaranteed taxes and expenses and no guaranteed revenue you can quickly have a problem.
Want good news?
There’s a solution to this. Get savvy on the taxes, accounting and bookkeeping structure that can help you now. You’ll sleep better.
There’s a big difference between someone who offers accounting and bookkeeping services and someone who really cares about your business. A lot of people will just crunch the numbers and tell you how much your taxes are. Someone invested in your success will help you determine whether something is a good or bad decision right now.
Accounting and Bookkeeping Roles
Your bookkeeper is going to do monthly P&L balance sheets and any kind of special reporting you need.
Your accountant is going to handle big-picture recommendations for your business that include legal changes, legal obligations, vision for the company, corporate tax return and possibly personal tax returns.
In most instances accounting and bookkeeping services are provided by two different people.
Your accountant and attorney might need to talk about what kind of entity you should be. Is LLC right for you or S-corp, or C-corp, for example? Sometimes your decisions are both legal and financial.
Money Mindset
If you’re still in the mind-set of “this is how much I make per hour, earned today, this week or month = this is how much I can spend,” you can get in financial trouble quickly. Likewise, credit cards make it easy to overextend yourself with items you really don’t have an ROI on.
My guest in this episode answers a few questions - specifically about taxes - for you.
Shannon Weinstein
Shannon is a CPA and fitness professional based in Connecticut. After working in accounting for over ten years she discovered her passion for fitness, she decided to apply her background into her passion. Shannon provides one on one coaching for fitness professionals and business owners, as well as tax and accounting services. She operates most of her business virtually, serving clients all over the country.
Questions we cover in today’s podcast:
Tell me more about how you became interested in the subjects of finance and fitness.- What are the common mistakes you see fitness professionals make when it comes to managing money?
- What should our listeners know if they are moving from being employed to becoming self-employed?
- How much does it cost to hire a bookkeeper or accountant and what are the options?
- How can our listeners get in touch with you to find out more about accounting and bookkeeping services?
Connect with Shannon:
http://bit.ly/fitnancial
https://www.instagram.com/shannonkweinstein/
https://www.facebook.com/fitnancialsolutions/
That bury-your-head-in-the-sand approach really gets worse with time. That desire to just focus on making more money will limit you and the good you can do.
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