Category: Blog Posts

How to Have Habits of Self-Made Millionaires

You can become a self-made millionaire right now (if you want to).

You don’t have to come from a rich family or have a fancy degree to make seven figures. I didn’t have either of those things when I started my first business.

But it’s also not just about hustle and grind either. You need to take the right action steps to get there.

If you can master a few new entrepreneurial habits, you’ll see your income explode like never before.


Be Relentless

This is when you operate from that fire-in-the-belly, chip-on-the-shoulder mindset.

There is no “What if I fail?” It’s just, “I’m gonna make it, it’s just a matter of when, or I’m gonna die trying.”

Make it your life’s mission to become a multi-millionaire. Go to sleep and wake up at the same time every day. Take responsibility. Follow the clues to success.

You’ll either become a multi-millionaire or you’ll die. I’d be willing to bet that you’ll hit seven figures.


Believe in Yourself

You know, I can talk to an entrepreneur and immediately tell you if they’ll make it or not.

Self-made millionaires believe in their vision even when others don’t. They see path to success unfold before it actually happens for them.

In fact, I see these people get angry when they’re NOT where they want to be! When I only had 3 Fit Body locations, I was angry that  wasn’t already a massive franchise. That’s what drove me to make it happen.


Follow the Clues

Success leaves behind clues.

There are people in your industry that have made the money and achieved what you want to achieve. They’ve already made the mistakes so you can learn from them.

Don’t reinvent the wheel—study the people who have been there, done that. Hire a coach who knows the blueprint to success in your industry.

You’ll realize that reaching seven figures is a lot easier than you think.


Provide a Solution

I used to waste time doing stuff that was out of my zone of genius. Building personal trainer software, constructing a billing service for personal trainers—that wasn’t in my 5%.

Then I asked myself, “Well, what am I good at?” That’s when it hit me: “I know how to start and systematize personal training gyms!”

Isolate your solution. Use Facebook, Instagram, YouTube—use it all to build a following of people that will benefit from your solution. Once those people are on your email list, make them an offer they can’t refuse.


Turn Your Followers into Leads

Look, it feels great to get all those social media likes, loves, follows, and comments. But why stop there?

Why only focus on followers when you can get followers AND make money?

In fact, it’s not even about your follower count. It’s about how successfully you can turn those followers into paying clients.

Every like and follower is a lead that you can monetize on. That happens when you add value and deliver content to your followers.


Want to learn more? Click here to listen to the full-length episode that Craig Ballantyne and I shot about millionaire habits.


Randall Pich – An Inside Look

The media is lying to you.

They tell you that you need a four-year degree and a corporate job to be successful. That if you drop out of high school or college, you might as well as kiss your future goodbye.

That’s bullshit. Entrepreneurs learn best through hard-earned experience. 

My good friend Randall Pich, CEO of international fitness apparel powerhouse, Live Fit, knows this better than anyone—the man dropped out of college and taught himself graphic design after all!

Here’s what you can learn from Randall’s story.


Listen to Your Audience

In college, Randall was a personal trainer at Bally’s. He started doing so well that he left and started his own personal training business.

That’s when he began designing apparel exclusively for his clients. It wasn’t long before videos of those clothes went viral on Facebook, and soon his clients’ friends all wanted in.

His audience was telling him something: “Hey, we like your personal training, but we LOVE the gear you make even more.”

Sometimes you run a business, but better opportunities come by. Great entrepreneurs know which opportunities to take and when to take them.

You’ll Fail Before You Succeed

Randall has founded more than one brand. In fact, he’s had several.

So why haven’t you heard of any of the others? They never took off.

Truth is, Randall wouldn’t be where he’s at today without those failures, or what I like to call “entrepreneurial scars”.

Again, nothing is more valuable to an entrepreneur than real world experience. It’s time under tension. You take imperfect action, you learn, you course correct, and you try some more.

Be Resourceful

Randall wasn’t just an overnight success. He’s been an entrepreneur since he was 14 and deep in the skate scene.

H grew up poor, so when he needed money he’d sell his old skateboard parts off.

And when he only had $300 to his name, he used it to print t-shirts that he resold for profit. He’d then reinvest the profits back into his business…

It brings up an important lesson: when you don’t have the resources, get resourceful.

No excuses. Hustle and make it happen.

Hone Your Social Skills

As a personal trainer, Randall had to sell personal training to people from different backgrounds, which meant he had to learn how to connect with different types of people.

Those social skills took him a long way, and they can take you a long way too.

If you want to become an entrepreneur, get a job in sales or service. When you  work in sales, you learn how to overcome objections.

It also helps to be likable. As Randall puts it, you want to be someone that everyone wants to do business with.

Think Bigger

How would I sum up Randall? He’s authentic and he thinks big.

You need to think big as an entrepreneur. Even if other people think you’re stupid.

Listen, both Randall and I share our dreams with people that won’t shut us down. People we can trust.

There will be crabs in your life that don’t want to see you succeed. It’s your job to edit those relationships, work in silence, and protect your dreams at all costs.


Want to hear more wisdom from Randall Pich? Click here to watch my exclusive interview with him on my show, the Empire Podcast!


How to Give Yourself a Mindset of Abundance

You might not think you were meant for money.

That’s because the media and the people conditioned you to believe that money was only for the white collar worker—the engineer, the architect, the college grad.

But when your mindset flips to one of abundance, you started to see bigger and better things for yourself. Today I’m going to show you how you can do that.

Don’t Be Afraid to Spend

Back when I was a personal trainer, I trained some pretty affluent people. One of those people was a guy named Jim Franco, who would become a business partner of mine.

One night, Jim took me out to dinner at this really nice restaurant. I practically had a heart attack when I saw the crazy prices on the menu…

The lesson? I had a “millionaire experience”, even though I was nowhere near rich at the time. But that one meal made me want more, so I worked even harder and smarter than I would have otherwise.

When you have those “millionaire experiences”, this psychological switch flips inside your head and you realize exactly how high you should set your goals.

Money = Freedom and Lifestyle

Money doesn’t care if you grew up poor, if you’re black or white, or if you’re a hundred years old.

When you solve people’s problems for them, they pay you.

Now you might think, “Well, sounds great, but why would I need all that money anyway?”

Because money is your vehicle to freedom and lifestyle. When you have it, you can serve more people and live a more comfortable life.

Don’t Let Others Weigh You Down

You’ve probably already heard it before, but you’re the average of the five people you spend the most time with. But what if those five people all hold you back?

Maybe you tell them you want to make seven figures but they think that’s unrealistic. Maybe you tell them you want to be the CEO of multiple businesses but they think it’s unfeasible.

These people usually mean well, but their insecurity is what leads them to drag others down. They want you to be good, but not too good.

So how do you handle the pessimists—the people I call “crabs”? You edit your relationships with them. Never get into deep talks with them. Protect your dreams from them. If it gets bad enough, you can cut them from your life.

Surround yourself with positive people who will support your biggest pursuits. If you want to make money, read books written by the people who’ done it, or even get coaching from them.

The Gratitude Attitude

You don’t want any crabs in your life. Worse, you DEFINITELY don’t want to become a crab yourself.

So instead of wondering why “so-and-so has to be that ambitious”, be grateful for everything you already have. Gratitude safeguards you from jealousy and mediocrity.

When you show gratitude, chemical changes take place in your head that help you think bigger and more clearly. As an entrepreneur, that’s the kind of mindset you need to grow your income, because it enables you to focus on the stuff that moves the needle for your business.

Want to learn more about opening up your money mindset? Ready to learn the essentials of entrepreneurial dominance? Click here to watch the latest episode of the Empire Podcast Show and discover more lessons like these!

What You Can Learn From the Failure of Subway

In the last 12 months, Subway has lost over 900 stores, which is the largest loss in company history! And yet, I’m sure you can still remember a time when Subway was completely dominating the fast food sandwich market. Heck, they managed to shove out Quiznos even though Quiznos had higher quality ingredients!

So what happened? Why is the Subway empire crumbling? How can you learn from their mistakes and protect the future of your own empire?

Well, I’ve been studying Subway for years and today I’m going to give you the top three lessons I’ve learned from my research.

Lesson 1: You Must Evolve

Take a look at the fast food landscape right now. Even if you narrow it down to just sandwich shops, Subway is losing ground to more innovative brands like Which Wich that offer better ingredients, even more customization, and a more modern look and feel.

And if you zoom out to the fast food giants like McDonald’s and Taco Bell, they are working on creating a look unlike anything we’ve seen in fast food before. They look more and more like modernized lounges where someone could actually sit and hang out.

The market wants to see change. Overtime, anything that stays the same literally becomes invisible. Your eyes scan right over it and look for the thing that’s new and different.

In the middle of all of this, Subway has barely updated their visuals, and they’re still clinging to their $5 Footlong. They haven’t done anything to surprise us, which is why they’re losing our business.

Lesson 2: Scandal Won’t Kill You

The situation with Jared Fogle is a perfect case study in how business leaders should handle a public scandal. Ironically, this is one of the biggest things Subway got right.

As soon as Jared Fogle’s crimes came to light, Subway immediately denounced him and cut all ties with him. Because of that, the public understood that they couldn’t hold Subway accountable for what Jared did behind closed doors.

So really, the Jared Fogle situation didn’t do much to change Subway’s long-term trajectory.


Lesson 3: Lack of Leadership WILL Kill You

Think about this for a moment: there are thousands of people who work at Subway, everyone from the sandwich makers to the CEO. What are the odds that none of those people have ever had an idea that could save the business?

Almost impossible, right? People are natural problem-solving machines. All those people must be noticing process improvements and product improvements left and right that could potentially turn things around.

So why aren’t those ideas being implemented? I can almost guarantee you that it’s a lack of leadership.

When a business has leaders who are communicate their vision clearly and lead by example, good ideas win. Team members are eager to share their good ideas and implement them quickly.

With poor leadership, good ideas get lost in the noise. Instead of working together to implement good ideas, the team gets distracted by personal drama and confusing instructions.

Subway is Not the Only One…

Our economy and our culture are going through a massive shift, and the truth is we’ve only witnessed the beginning of that shift. Other empires like Subway are crumbling. Other empires that you might think are un-killable will start to die out over the next five years.

We are moving away from an economy where businesses can get away with suitable products and services delivered in an impersonal way. The empires of tomorrow (maybe yours?) are being built by entrepreneurs who deliver excellent products and services with a personal connection.

Want to learn more lessons like these from the empires crumbling today? Want to build a legacy that will stand the test of time by avoiding their fatal mistakes? Click here to watch the latest episode of the Empire Podcast Show and discover more lessons like these!

How Vince Del Monte Created a Six-Figure Mastermind

Today, I want to share with you a case study of an entrepreneur who found huge success in my Empire Mastermind group. If you’ve ever spent any time in the bodybuilding world, you’ve probably heard of him: Vince Del Monte.

Today, Vince has a six-figure generating mastermind group that is still growing rapidly, and he’s making more money than ever before by working smarter, not harder.

Pay close attention here, because you can apply these principles to your own life and business right now, even if you’re just starting out and you can’t afford the Empire Mastermind yet.

Vince 1.0

When Craig Ballantyne and I first started working with Vince, he wasn’t a bad entrepreneur. He was a smart, hard-working dude who clearly had a lot of potential. He was passionate about bodybuilding and he had a talent for mentoring others in that world.

The only problem was that he kept getting visits from the Idea Fairy. Instead of focusing on the two or three things that really worked in his business, he kept running off to try out new things.

At one point he had some “marketing expert” sell him on a twelve-way split test. Twelve?! How are you supposed to learn anything from that? The whole point of split testing is to try to beat the control and understand exactly what works and what doesn’t. If you have twelve different versions of your ad, it’s just a huge guessing game.

We even asked Vince if this twelve-way split test was making him any more money and he said no. He just thought it sounded impressive.

Now look, one of Vince’s greatest strengths is that he’s an optimist and he’s open to new ideas. That’s not the issue here. If you enjoy experimenting with new ideas, that’s a good thing too.

However, you have to develop the discipline to measure what you implement, see what creates the best results, and then ruthlessly cut out everything else.

How Vince Upgraded

I had a phone call with Vince and we looked all the different projects he had going on or that he was daydreaming about. Then I asked him a very simple question:

“Out of everything you have going on here, what’s the lowest hanging fruit? What will give you the most income and create the biggest impact?”

After going down the list, we discovered that Vince could make the most money and impact by creating his own mastermind group. In fact, I told him he could charge $1,500 a month from 50 guys in muscle building and create a six-figure business very quickly.

By the way, I should mention here that this conversation happened BEFORE Vince had payed me to join the Empire Mastermind. I was already giving him this solid-gold info and strategy and I probably should’ve been charging him already.

Instead, I took it once step further. I wanted to give him “results in advance” so that when he joined the Empire Mastermind it would be his decision, not just mine. So, I told him exactly when and how to pitch his Mastermind at his next live workshop, then I role-played the entire pitch with him there on the phone.

Sure enough, Vince went and closed 80% of the people in the room on his Mastermind and immediately established a massive new income stream.

And by the way, when you use my formula, Mastermind groups produce 80-90% profits for about 9 months out of the year. The only time that dips down slightly is when you host your live workshops and put on a big show.

Can you see the big lesson here? Would you like to hear more about Vince’s success story? Then click here to watch the latest episode of the Empire Podcast Show!

How to Attract Positive People

You are the average of the five people you spend the most time with.

Take it from me. I used to hang around with bozos and clowns. Even though I knew I wanted to own a seven figure business empire, those people were dragging me down and limiting my potential.

Then I decided to man up and surround myself with mentors and people who could level up my game.

When you make that change yourself, your circle will fill up with positive people, like-minded individuals, and people who will challenge you to become a better person and professional.

Work on Yourself

Who you are is who you’ll attract. Therefore your first step is to become the person you’re meant to be.

This is when you have to take a hard look at yourself in the mirror and find out who you are.

If I have lowlife dudes with no passion, no purpose hanging around me, that’s probably because I’m giving off an asshole vibe.

But you’ll be stunned at how much you can grow if you eliminate negative self-talk, if you’re grateful for the positive people already in your life, and if you pay it forward.


Know Who and What You Want Around You

Craig gave me this really great exercise that you can try:

Think of a positive person that you’d love to emulate. Better yet, think of the type of people you’d want in your circle.

Now write down the characteristics and values that make that type of person who they are.

Those are the same traits that you want to teach yourself. This will help you be more positive, and the quality of the people in your life will go way up.

Be clear on who you want in your life and don’t settle.

Give Without Expectations

You know what people love more than anything? Free stuff. And the universe has a funny way of rewarding you when you give without expectations.

If you want a mentor to keep you accountable but don’t know how to kick off the conversation, being kind and offering them something free is a great place to start.

This guy, Amar, reached out to me a while ago. He said he could make my social media following explode.

Of course, I have my guard up. What is this guy after?

Nothing. He just wanted to connect with me.

Lo and behold, he handled our Fit Body Boot Camp social media like a pro…

You know what Amar did right? His thought was, “How can I help this person.” Not, “How will this person help me?”

Know Your Worth

“Wait, B, but what if I have nothing to offer people like you?”

My answer? Look harder.

Everyone has something to give. YOU have something to give. And if you can’t think of anything to offer, you can always ask this magic question:

“What can I do for you?”

Even if they don’t need anything from you, they’ll at least appreciate your willingness to serve them. That can open the doors to a relationship and another positive person to add to your circle.

Want More?

Click here to check out this week’s podcast episode that Craig and I recorded together.

The Traps You Want to Avoid

Being an entrepreneur comes with adversity. There’s no way around that.

You will have to bleed for your purpose and your mission at some point. You will have to push beyond what you are comfortable with now to make a bigger impact tomorrow.


There are certain traps that entrepreneurs fall into that cost them loads of money, energy, and time. Craig and I know because, between the two of us, we’ve fallen into almost all of them at some point.

And the crazy thing is, a lot of these traps are 100% avoidable if you pay attention and listen carefully to those of us who have walked the path before.

That’s why this week I want to share with you the traps you want to avoid in your entrepreneurial journey.

Embrace the Suck Factor

Yes, I’m going to repeat myself here.

You are going to have problems in your business. You are going to feel uncomfortable, unprepared, and “not ready.”

You must develop the discipline of charging into those problems as soon as they come up and of putting yourself in situations where you are uncomfortable and forced to create new solutions.

Understand that those problems are there to serve you and make you stronger. If you run away and hide, you are literally neutering your own potential. You’re setting fire to the money in your own wallet and saying “NO” to the people who need your help.

Embrace the suck factor. Marry it, settle down with it, and have two beautiful children with it.

There is No Man on the White Horse

There’s a very important difference between hiring a coach or mentor to guide you vs. hiring a consultant or expert to solve your problems for you.

I used to make that mistake all the time, and I wasted a lot of money on consultants and experts who had great track records, but ultimately didn’t understand my business or my industry.

Even worse, I robbed myself of the opportunity to learn and grow through problem solving.

I call this “waiting for the man on the white horse.” It’s just another form of hiding or running away. It’s when you throw up your hands and expect someone else to clean up the problem for you.

Do seek out help and advice. You need help and advice. Just remember that you are the ultimate decision maker and your destiny is in your own hands—not anyone else’s.

Stay Committed to the Outcome

Understanding your ultimate outcome gives you the power to say “NO” to distractions, bad habits, and good but great opportunities that will try to pull you off the path.

For example, I used to have a huge problem with stress eating. It caused me to put on extra weight, which I then had to hide from the camera and hide when I got up on stage.

I had a turning point when I realized that carrying this extra weight was completely out of line with my vision of being a leader in the fitness industry. That’s why now, when I get stressed out, I just add in extra workouts instead of extra snacks.

Seriously, I’d rather go for two or even three workouts a day and put up with injuries than sacrifice my vision for my fitness franchise.

Don’t be “The Boss”

“The Boss” is the guy who tells everyone exactly what to do, never lets anyone question his authority, and doesn’t show respect for anyone else while demanding that they show respect for him.

The ego loves the idea of being the boss. It’s especially tempting when you feel stressed out or insecure.

But here’s the thing: the market doesn’t give a crap about “The Boss”.  It cares about whoever solves their problems and does it with outstanding service.

To build a business that solves problems and delivers outstanding service, you need a team of fighter jets who all contribute their best ideas and their best effort. That means you need to be the servant leader—the one who leads by example and helps everyone on the team grow to their full potential.

One Last Thing…

Craig taught me a really cool new phrase this week: “exponential learning.” It’s the idea that if you learn from someone who has read 10 books on a subject, you can get 10 books worth of knowledge all at once just by working with that person.

Make sure you take advantage of the exponential learning Craig and I are offering you by watching our podcast here [LINK] and subscribing wherever you get your podcasts!

Ed Mylett – An Inside Look

For this week’s episode, I interviewed legendary entrepreneur Ed Mylett. He’s the creator of #MaxOut and an industry leader in the world of financial services.

But before Ed became an empire builder, he was an injured athlete who lost his dream of becoming a professional baseball player.  And before that, he was “little Eddy who’s shy.”

Listen to the episode (you can watch it here) or keep reading to find out how Ed created such a profound personal transformation.

The whole interview is full of gold nuggets and right here I’ve picked out the five biggest lessons from Ed that you can apply to your life and your business right now.

How Ed Changed His Personal Narrative

“You find yourself in this dark space. It’s like a dark tunnel. And there’s the honest answer: I just ran into the tunnel. I just ran full speed, bleeding, down a path. I got up and I ran somewhere.”

After being raised as a “shy kid” and losing his dream of becoming a professional baseball player, Ed had a personal narrative that was steering him towards failure.

You may not realize this, but if you are currently in a slump in your business or in your life then you most likely have an inner narrative that’s holding you back.

For you the narrative might be “I’m not smart enough” or “I don’t have money to make money” or “I don’t have enough time” or any number of things.

Follow Ed’s example: start running in the direction of success before you feel ready to do it. Do that for long enough and it will reprogram your brain and your body to attract success.

Why Service is the Only Way to Build An Empire

“The connection is it’s the only thing that’s going to sustain itself…Getting money is motivation. Serving people is inspiration.

Being an entrepreneur is not easy. In fact, it’s one of the most demanding, stressful, anxiety-inducing paths you can take.

If you are only in it for the money, you are going to quit. There will come a challenge that is so painful that the money isn’t worth it anymore.

On the other hand, if you are in it for service, and the money is just a byproduct of serving others, then you will have the fuel to push through any challenge or adversity you face.

Why You Should Never “Negotiate the Price”

“Most people are constantly negotiating the price. In other words, they waste so much energy in their mind with ‘Is it worth it? is it not worth it?’ Just negotiate it in advance: ‘There’s not a price I won’t pay’.”

Too many people make their success optional, which means that it’s too easy to give it up in times of adversity.

True leadership and success comes from finding solutions to problems. To be the person who always finds a solution, you have to make the commitment in advance that you will never, ever back out.

The One Thing You Must Do to Survive Weakness, Doubt, or Pain

“Most people make decisions to quit their business in moments of weakness and pain and emotion and not with the ultimate version of them in mind. If you’ll always be thinking about the end of your life, not the current conditions you’re in, you’ll always make the right decision.”


Why “Management” is an Illusion

“You know as well as I do: explosive growth in a business is messy. You’re going to have to embrace some mess, some disorganization, some imbalance of some type.”

This is especially important if you’ve already had some success in your business. Your job as a visionary leader is to push your business and your team to become something better than they were yesterday.

That’s not the same thing as management. Management is all about maintaining what’s working already. You need to be the visionary. You need to be creative and courageous.

And if you want to hear more of Ed’s powerful story and advice, click here to listen to our “Inside Look” episode.

Committed to your success,


Fan Question: Advice to My Younger Self

Today, I’m going to give you the advice I wish I could’ve gotten earlier in life. These are the hard-won lessons I’ve learned over 43 years of life and business. I’ve eaten out of dumpsters, I’ve been homeless, and I’ve had near-fatal anxiety attacks when I thought my business was about to collapse.

You don’t need to go through those hardships to learn these lessons. In fact, I’m sharing this with you today in the hopes that you can skip past the suffering and heartache and go straight to success, wealth, and fulfillment.

This advice will work at any point in your life, so keep reading even if you’re past age 25.

Age 14: Pick One Thing, Go All In

To become successful in anything, absolutely anything, takes about 6 to 10 years of experience. If you want to become a successful entrepreneur, you need to spend the next decade creating and selling products.

If you want to become a successful athlete, you need to spend the next decade practicing and hitting the gym. If you want to become a successful artist, you need to spend the next decade creating your art and putting it in front of people.

And I’m giving you permission right now to pick that one thing and ONLY care about that one thing. Be focused, be relentless, and don’t let the fake entrepreneurs on Instagram distract with promises of “overnight success.”

On the flip side, don’t let the average or mediocre people tell you that you’re “too intense” or that you’re wasting your time on this thing. Stay focused, do the work, and the rewards will come.

Age 20: Learn to Sell

Whatever you are most passionate about, the key to success is to learn how to sell it. When I was at age 20, I was a personal trainer because I was passionate about fitness.

All I cared about back then was where all the muscles insert and originate, the posterior chain, all this knowledge about the human body that trainers need to deliver a good workout.

Now don’t get me wrong: you do need to learn the fundamentals of your craft. You have to know what you’re selling before you can sell it. What I’m saying is: don’t stop there.

Whatever your passion is, learn what motivates people to spend money on it. Learn the difference between a feature and a benefit. Figure out the emotional reasons that trigger people in your market to buy—not the logical reasons they talk about after the fact.

For example, I eventually learned that most personal training clients don’t give a crap about human anatomy. They care about getting their confidence back and looking good in the mirror. So that’s what I learned to sell them.

Age 25: Stick to it

At age 25, I was homeless for three months in San Diego because I didn’t stick to it. I had been working as a personal trainer and struggling to make money. What I should’ve done was learn how to sell my training better and make more money (like I just said here!)

Instead, I pivoted to trying to sell supplements online because I thought that would be easier. Turns out, I was way too early to the Internet (Google wasn’t a thing yet) so I ended up wasting time and money and putting myself in an even worse situation.

The path to success is not a straight line. You will face hardships and disappointments. You will the limits of your current skill set. No matter what happens, remember this:

You have the power to improve your skills, change your habits, and upgrade your thinking at any point in your life. When you run into a new challenge, you always have to power to find or invent a new solution for it.

Stick to it, because that’s the only way to become the best in your industry. Those challenges are there to weed out the people who are weaker and less committed than you are.

And if you want to hear more advice for my younger self (and Craig Ballantyne’s advice to his younger self) click here to listen to our podcast.

How to Build Your Business With Recurring Revenue

If you’re waking up without guaranteed revenue of recurring income, you run the risk of losing your business.

Recurring income sets you up for security and cushion. It sets up the foundation to invest some of that income into building your empire greater and greater.

Why Having Predictable Revenue Will Allow You to Sell Your Business Later On

When I first started as a personal trainer, I was selling 3, 5, 10 session blocks a month.

And I had, say, 15 clients each month.

When those sessions ran out, I would have to put the sales hat back on and sell them another block of sessions.

Sometimes they would say yes, other times they would say no. Or they would say “I need to think about it.”

And if someone tells you they need to think about it, they ain’t coming back.

My mentor and former personal training client, Jim Franco, asked me one day “I wonder if you could build a business similar to the gym. The gym takes money every month to give them access to the equipment.”

Jim didn’t know how to workout. To him, all this gym equipment meant nothing. That’s why he was coming to me to train him.

So Jim tells me “I wonder if you could sell me on a program on an ongoing basis. That would keep you from having that awkward conversation every time you have to sell more sessions.”

Later, I went on to open 5 personal training gyms throughout San Diego – all based on 12 month contracts.

The reason I was able to sell all of my gyms was because I had those clients on recurring, predictable revenue. Which showed the buyer income was coming in every month.

When you have recurring income and a membership base, a buyer looks at that as predictability.

If there’s no recurring income, and they buy your business from you, it’s not guaranteed that they’ll have customers tomorrow.

When a buyer comes in, and sees you have 5,000 clients paying $69 a month, they think, “great”! Because that buyer has another 100,000 people they can expose this to.

Because you already have a recurring model that works, the buyer doesn’t have to split test it. They can plug their audience into your business model and triple the membership base.

Use Recurring Income as Insurance

Recurring income allows you to follow daring ideas with income to back you up.

When Craig was in the fitness industry, he built a product that sold 100,000 copies.

Of those people who bought copies, they all joined the recurring revenue part of the business to get even more value.

When Craig retired from the fitness industry, he built a brand new business from scratch.

He didn’t have to go into debt because he had income to fuel this new business from the systems he built in the previous business.

How to Break Down Your Business to Incorporate Recurring Revenue

There is no limit to recurring revenue.

Whether it’s the wine of the month, a mastermind, or a software, when it’s time to sell your business the determining factor is the valuation.

Let’s say you have an online information program, and you sell your product for $99 as a one time fee (like my Close Clients program).

At any given time, you could take that product and turn it into a $29 a month program where you give all the information up front.

Then, for an additional $29 a month, you can put people into a private Facebook group where you do live videos and share even more value.

Take the product or service you have, and break it down into modules that you can serve on a weekly or monthly basis to justify recurring payment.

Recurring Revenue Options Exist in Every Industry

For anyone thinking they’re not sure if their product could be recurring, think of it this way: some things are almost a forced continuity.

If you’re a guy, and you shave, the razors you buy from these companies are designed to wear down so you can buy more.

Recurring revenue can either be forced on people based on consumption, or by way of giving them the option for convenience.

When you build your business with recurring income, you’re literally multiplying the valuation of your business if you ever plan on selling it, while also giving yourself insurance and reliability.

Which, by the way, you should be building your empire up to be sold one day.

To hear Craig and I cover all of this and more, check out our podcast here.