The #1 Trick For Online Trainers To Making Better Biz Decisions & Growing Faster With Less Stress

Hey everybody, Chris Lynton here from TribeFit. Hopefully, you are all well. As you can see, back in the office after a very big hiatus of office due to COVID and lockdowns and all that sort of stuff. Actually, it was kind of cool, because I got to spend a lot more time at home with the family.

You may or may not have seen that I had another son, a second son late December, and he's about eight weeks old now, so it's been really cool to be able to see him literally every minute every day all day long. Yeah, really enjoy that period of seeing him grow and be a part of it, but it's good to get back in the office. Got the stand-up desk going, got everything going.

So look, today I've got an awesome one I'm going to take you through, and we've got some people jumping in on the session. If you can hear me loud and clear before I get into it, I want to make sure you can hear me loud and clear. So comment down below, give me some thumbs up, give me some emojis, emoticons, whatever you would call them so I can make sure that you can hear me nice and clear.

Because what I want to tell you is pretty important today, and it's going to be massive to your 2022 success, to your growth, to getting more clients, having more impact and having more income, money in your pocket as a result of that impact and having more freedom and less stress, and growing your business. So more impact, more cash, and more fun, less stress, right? Really, really important.

So, it's not good to have a business that grows and has more impact and has more income, but just grows in stress and it's not fun, and all of that sort of stuff as well, right? So, you need to have a combination of all three. Jason, lovely to see you there. Good to hear everyone can hear me loud and clear.

So, the key to growing a sustainable business is exactly as I've touched on there, you've got to have a massive impact, you've got to help clients, you've got to change lives, right? As a result of that, you get paid what you're worth as a return of that impact you have, right? Thirdly, you need to have consistency, you need to have predictability, you need to have stress management, stress control because otherwise you might make loads of money, have a massive impact, and burn out. Or on the flip side, you might have no stress, no impact, and no income, which in turn creates financial stress. Lovely to see you there Jessie as well.

Now, what I'm going to take you through is cash is king, and the number one trick to having more sustainable growth in 2020, 2022, sorry, and having more impact, having more income, and doing it in a stress free way. Having the whole year sustainable, consistent, lack of ups and downs, lack of putting your head on the pillow at night wondering what's going to happen tomorrow and stressing out about that, but enjoying the process and having more success in combination, right?

Who doesn't want to enjoy their life more and have more success? This component here has been one thing that I've put into my life that a mentor taught to us to put into our life. I didn't think it was that important, but it wasn't until I've done it I realized how powerful this is. I recommend every single one of you to do this year.

Now, cash is king. Cash is the most important thing in business. Now I'm not saying cash is the most important thing in life, I'm saying cash is the most important thing in business. Why? Now, I'm going to give the context to this. Now, cash reserves are immensely critical to your ability to make smart decisions. Now for your business to grow and for it to grow sustainably, you need to be able to make smart, emotionless decisions, right? You need to be able to stay on the path, you need to be able to not make 1,000 turns every single day and stress about this and stress about that because you're totally focused on fast returns.

Now, a person who stresses about the results in the next hour, the next day, the next whatever it might be is a person who is cash reserve poor. Now, let me explain that. The key, the number one trick to growing your business, having less stress, and actually growing faster is having cash in the bank put aside in your business.

Now the rule of thumb of this is you should want to, you should be able to if you're set up the right way, but you should want to get to a stage where you can have a business bank account and have three months' worth of cash, three months' worth of what's called cash float. The reason why they use the word float is that it keeps you above water, right?

Now the stress of business is when you're paddling, you're swimming, but you're drowning. That's generally when you have low cash reserves, right? So, cash float. What I mean by that is having a business bank account. You can have your personal bank account, you can have all the other stuff you want, but a business bank account where you have enough money in there at all times that you can make no sales, you can pay all your staff and you can have no cash come in for three months and still be okay, right?

Now, I'm not saying that that's going to happen and it should never happen that you need to dip into those funds, to that float, but it is a mental component, it's a mental trick, right? These cash reserves, these cash floats there, what it does, it gives you confidence, it gives you the ability to not worry about tomorrow, to not worry about where's the money coming from tomorrow? Where's the money coming next five minutes? Where is it coming in the next week, right?

It gives you the ability to go sit there with confidence and go, "Okay, what I need to do today is the right thing. I can forget the firefighting, I can forget the ups and downs, the rounds and rounds and racing and chasing and doing this and doing that because I know that if for whatever reason I have this massive cash reserve right there, that even if I didn't make a sale for the next three months, even if everything went terrible, I would be able to keep my head above water for three months."

Three months is a massive amount of time, and that's why I said it's a general rule of thumb, but the reason why we say three months and it's being a massive amount of time is because that is what gives you confidence. If you put aside enough cash funds to keep you afloat for two weeks, it's not long enough. You're still going to stress about it, you're still going to think, "Ah, if I dip into that, how am I going to fill it back up again?" Then what happens is the entrepreneur starts making minute-by-minute decisions, right?

I did a post about this the other week and it's about going slower, making slower decisions, keeping the path, right? You get a blueprint, like all the clients that work with me and you follow that blueprint with blind faith, right? Now, the people who get massive stress and the people who actually work super hard and look like they're running from left to right and here to there, but kind of get nowhere are the people that make too many moves, too many fast small moves, because they're chasing the cash, right? Mentally chasing the cash and they're stressed about cash.

Now cash funds, cash reserves are like a fortress. That's what allows you to sit back and go, "Hmm. All right, rather than ..." If a question comes up to you or what next to work on or what next to focus on? Or you've got a blueprint and you're following it and you know it's the right path and it's going to give you success in two weeks' time, right? If you just follow this thing for two weeks, you're going to get massive success.

The problem with most people is they don't have these cash funds, they don't have these cash reserves, so it creates stress, it creates a lack of confidence in the path. So rather than following the path for say two weeks and then having massive success, they follow it for a day, they change. They get a new plan, they follow that for a day, they change, right?

Think about your own clients in the gym or in the practice or in the studios, or whatever it might be, wherever you have your clients, right? When you give them a plan, the people who succeed are the people who follow the plan with blind faith and confidence, and follow it through to the end, right? Some of them, they might come in one week and go, "Oh, I jumped on the scale and I put on 500 grams, but I've got faith in this. I'm going to continue to follow what you say." Then lo and behold in two weeks' time, they jump on the scale or they do a DEXA Scan or they do a pinch test, and they're just killing it, right?

The people who don't get success are the people who jump on the scale after two days and they go, "Oh, I don't have a six-pack yet, I'm going to throw it all in the bin and try something different," right? You need to be able to follow the path, you need to be able to follow a proven path with confidence, right? With less stress and make long, good longer-term decisions. Having cash reserves is what allows you to do that.

In our business, we put aside $150,000. We have $150,000 in our bank account locked away. Now I'm not saying you need to have that much, but we have $150,000 at any given time. We have our working capital, stuff we do ads with, stuff we pay staff with, but we also have a fortress, a castle around $150,000. Why? We've tried $20,000, $30,000, $150,000 is a lot of money, right?

Since doing that, it's allowed us to make better decisions, less short-term knee-jerk firefighting decisions, and smarter non-emotional correct long-term decisions. Ultimately it has reduced stress, it has increased confidence and it has increased our performance in our growth and our success in terms of getting clients, helping clients, and being able to have a massive impact and get income as a result of that massive impact.

So, cash is king. Cash reserves, floats are very, very important, because the main reason why the entrepreneur fails is not that the plan fails, it's because they fail to follow the right plan, right? Some people get the wrong plan, right? If you've tried a million things and you're not seeing success or whatever, sometimes it's the wrong plan, right? Reach out to me, we can chat about what you're doing, make sure you've got the right plan in getting success.

But I'd say that's 50% of the time, the other 50% of the time is that the entrepreneur fails the plan, right? What I mean by that is they fail to execute ongoing consistency, right? That's what gets you to places. Think about in the gym, think about training, think about eating, think about anything in life, right?

So, hopefully, that makes sense. Three months is where you want to be as a rule of thumb, right? What you need to do is you need to go away today, and it'll just take you a minute or two and think about how much money do I need to keep me afloat for three months to pay bills, like business stuff, right? Bills, staff, leases, equipment, food, ads, surf software, whatever it might be, right? Depending on how big or small your business is, this will differ immensely. Also for your food, your grocery, your family, whatever it might be, right?

Calculate it up roughly. Don't spend hours working out to the exact cents, calculate it up roughly, and then times that by three. Get a months' worth, times that by three, and that's how much you want to try to start saving, putting aside, and putting it into another account, locking that down. Put a castle, a fortress around that cash, and you will see that you'll be able to come in.

At any time that, I don't know, you're like, "Oh, I'm second-guessing, or I don't know about the future," or whatever it might be, maybe you're having a bad day, maybe you're having an emotional breakdown, whatever it might be, you can go your bank account, open that bank account, you see that cash there and all of a sudden the emotion goes away, the fear goes away, all that sort of stuff and it centers you. Allows you to go, "Hmm. Okay, I'm not just going to work on what I need to today that's going to get me results, I'm going to work on something today that will get me a result in a month, six months' time, 12 months' time, two years, five years, 10 years," right? Longer-term thinking.

Hopefully, that makes sense. Any questions you've got whatsoever, fire away down below. Lovely to see so many faces here. Hopefully, this has resonated for you. I say to you I want to push you to spend two minutes today, approximate how much you need for a month, times that by three, start working toward putting that into another separate bank account.

Have an amazing week, guys. If you have any questions, anything at all, shout out to me. You can send me a PM, DM, you can send an email to [email protected]. Yes, lovely to see so many new faces in the group. Take advantage of all the free resources. Get in there, get what you need, because I want to see more people succeed in 2022, right? Get to where their goals are, get to where they want to be. Have an amazing day, have an amazing week and we'll speak soon. Cheers.