 If you're listening to this on Spotify or iTunes or YouTube first, I just want to say thank you so much for taking the time to invest your attention into this episode. And you're going to hear me say the word invest a lot in today's episode. I plan on making this anywhere between 10 to 20 minutes, it might be longer. And as you know, when I do stuff like this, I don't have a script, I talk and I will share ideas and I'll share concepts with you, things that have worked for me. Now today's topic is why coaches are afraid to invest into their business, right? Why they are afraid to invest into their business. And I have discovered really two key ingredients of why coaches don't invest in their business and why they're afraid to spend money to better their business, right? And what I want to do first here is really make a clear point, right? If you go to, right, I'm just going to say, let's say you have Bank of America, right? Like, let's say you go to Bank of America and you meet with a banking specialist there and you say, hey, print out the last 12 months of bank statements and they go back in their back office, they print out your bank statements, they put it nice and tidy inside of a folder and they give it to you. And you say, great, can you review every transaction with me, every single transaction? And the lady looks at you and she's like, great, yeah, I can do that. It's going to take us a few hours, but for sure. And she goes through every single transaction from January 2021 to up till now, right? When I'm doing this, this episode, we're in February of 2022, right? And she names out every single transaction that you've made. And let me ask you this question. Are those transactions that you've made over the last year, at this point, 14 months, are those transactions investments that you're making in your business? Or are you spending money on yourself? Are you spending money on your personal life? And the way that I break this down is your priorities will be seen on those bank statements. And here's what I mean. Whatever you spend money on, that is your choice. If you want to have a $700 per month car lease, that's your choice. If you want to go out every Friday and Saturday night and you're spending probably around like $600 to $1,000 per month on just going out and you're eating out all the time and you're in credit card debt. Your payment history on your bank statement will tell you everything that you need to know about yourself. And there's no way to hide from that. And that's why I love explaining it this way, because you can clearly see how you spend your time. You can see how you either spend your money or how you invest your money, right? And again, there's a clear difference between spending and investing. And I'm going to break that down now. So when I think of spending money, right, most coaches that think, well, I just don't want to spend money on my business. They're thinking about taking money from their wallet and putting it into something and that money just going away. And that's because most of the time when they spend money and for everything, that's what happens because they have never invested in their life. They have never put skin in the game and been like, all right, I'm going to take this really serious and this money that I'm investing, I'm going to learn. I want to put forth the effort, right? Because of the everyday purchases that they have, like they're spending money on drinks or spending money on fireworks, spending money on going out, spending money on smoking weed, spending money on cigarettes, spending money buying a six pack every three days, spending the money on things that have no return on investment. And when someone doesn't have a return on spending, which is that is normal, right? You normally don't get a return when you spend money on anything on food on groceries on whatever. And that what that does is that conditions people's brains that, you know, taking money and putting it into the business is a scary thing. It's a afterthought. It is something that is not accepted. And it's one of those things that those coaches, they don't have their priorities straight and I'm serious. I talk to coaches every single day, like I have a team member now who helps message coaches on Instagram. And we filter calls every single day. I have calls from you from coaches that watch my YouTube is every single day. I can assure you I've talked to more coaches that are within the sports industry than anyone in the world over the last six years. And that is a fact. So I have the biggest sample size when I when I can think of this subject and when coaches are are thinking about a, you know, doing something to better their business, what they do is they they cling on to the things that they spend money on and they're like, well, I'm not willing to sacrifice that. So I would rather keep doing what I'm doing. Instead of investing into my business, right? And that is because most people are used to spending money. They're they've never invested money in life. All right. And I know for me, I was very resistant to investing too. And that changed though for me in 2012. 2012, that's when I made my first investment into my business. I hired a sales coach, someone who could help me clearly communicate my message to parents so I could charge more and so I could close more clients. And I paid $800 per month for that service. I can tell you because that was a lot of money at the time for me. I worked my butt off. I listened to everything that my my business coach told me. I showed up. I didn't miss a meeting. I executed and my business tripled. Literally tripled over a three month period of time. And that's because that was the first time in my life. I was like, All right, I'm going to really take this serious. The money that I was spending on doing things that I didn't really need at that time. I moved that towards investing in myself. And when I did that, my business tripled over 90 days. Right. And I held myself accountable, though. I didn't just show up and listen like I showed up and I did the work. All right. And since then, I have made multiple investments into my business, into my company. All right. That could be going through courses. That could be hiring mentors. That could be joining a mastermind. Like coming up, I'm going to be investing into a new mastermind on my end because I know that there are people that are in that group that can help my business get to a brand new level. And by being a part of that group, I can use a lot of that information to implement in my business. And then I can relay that back to the clients that I work with that are in this industry and help them exponentially grow. Right. And at this point, right, I have nothing to hide. I've spent well over a hundred thousand dollars. A business income, right? Back into my business, right? So I wasn't like borrowing from I wasn't like getting new credit cards. I wasn't I wasn't doing that sort of stuff at the beginning. I think when at the beginning, actually, when I made that first eight hundred dollar per month investment, I did open up a new credit card for that. And I did that full knowing that I was going to pay it off. Like I wasn't going to be in debt for the rest of my life. All right. And after my business started generating more income, though, I started investing more of my money back into my business. All right. Now, here's the thing. One of the reasons why. Coaches don't do this and business owners don't do this is again, they have their own priorities with their spending habits and they spend money. They don't invest money. And at the end of the day, I can't help people who think that way. It's a decision that they have to change, like, especially if they're going to work with me because my program is proven to work. It's helped hundreds of coaches at this point. It's straight up works, but it does not work for people who are like, oh, I have to pay this like that doesn't work. It works for people who are like, I'm making an investment into myself because if I utilize this information and I follow through, that's going to help me for the rest of my business career. See, there's two different ways of thinking. Either you're spending money. Hoping to get something out of it or you're investing money and you are putting skin in the game and you're taking it serious. Right. And again, let's go look at your bank statements. You can tell me how you're living your life. Right. That that's that is a straight up reflection of what your priorities are. And you can't hide from that. You can change it, but you can't hide from it. Right. So what you've done over the last year, where you spent your money, you're spending money on shoes, spending money on going to watch movies, spending money on DVDs. Like, I don't know what what most people spend their money on these days because I'm very frugal. And again, I when I invest money, it's into my business or it's into an asset. It is not going to be on, oh, I really want this new car and let me get stuck in a seven hundred dollar per month lease. No, that is not going to serve me or my wife at all. Right. That's just going into some stupid debt. Just so I can have a cool car. Don't need a cool car. I'm already married. So that's number one, number two. I've talked about this a lot on previous videos, on previous podcasts. Your surroundings are everything. So if you hang out with people who spend a lot of money, the people that are in debt all the time, if you ever like have lunch with one of those friends and you tell them that you're going to invest into something, they're going to laugh at you and they're going to think that you're the biggest idiot in the world. But that's also the same person. Who, you know, when July 4th comes around, they're spending a thousand dollars on fireworks and when New Year's Eve comes around, they're at the club, buying bottle service, going into debt. It's that same person who's giving you business advice. Right. So your surroundings will determine. If you become someone who just stays a spender or you become someone who's an investor, this is why like one of the biggest reasons why for me, I spend very limited time with people who think that way. And at this point, I spend zero time with people that think that way. All right. And they're everywhere. They could be part of your family. They could be your brother in law or sister in law. They could be your parent, right? They could be anybody that's really close to you. And they mean well, like they mean well how they want to live their life. That's cool. But when you are trying to make a change with your life and you're thinking about like hiring a coach or investing in something and you bring that idea to them, they will laugh at you. They will think that you're an idiot. And yet they're over here getting the new iPhone every single year over the next 10 years, they will, they will spend 10 K minimum on iPhones. When that 10 K over the course of 10 years could be invested into getting mentorship, getting coaching. And I'm not trying to like use this message to convince you to join my program. Right. Our results are there. And I get this point. I really don't even feel the need to have to try to pitch it or have to sell it because like if you go to my application process, you'll, you'll see at this point over like 20 to 25 videos of coaches that have already gone through it every single day on Instagram. I post results live results from coaches getting results. All right. So like results are there. I'm not trying to get you to, to convince you to do anything with me. What I am trying to do is I'm trying to convince you that you need to change your mindset if you are a spender and you're afraid to invest in yourself, like that's going to stop you from growth in your business because when you invest in yourself, again, you take it more serious, you learn faster and you can get ahead faster when you put more skin in the game. And I know coaches are afraid and it's because of their current priorities that they have. They're not willing to give those things up because those, those things that bring them comfort in their life, they, they cling onto that, right? Cling onto it. And they'd rather, they'd rather continue spending, you know, $400,000 per month on things that they don't need versus investing that money into something that can really help them grow in the future, right? And that's again, that's something that most people are, are the, the living their day to day life like that, right? And then the surroundings that they have surroundings, the surroundings that you have are 100% in your control. I don't care. I don't care what your situation is right now. It is 100% in your control. Like, even if so, like I've talked to guys, right? This is just straight up. I've talked to guys who are married that have a wife that completely disagrees with them about investing in their business. All right. Now, in my mind, that comes down as a man as the leader of the household. It's not that you need to convince your wife that you need to invest into something, but she probably doesn't believe you because you haven't put forth any effort. You haven't put forth, you haven't shown any results with your business. So why would she believe you? Why would she believe you? Why would she want you to invest in herself if you, if you guys go look at the bank statements and, and, and you go through the first part of this audio that I just went through, if you guys are wasting money left and right or you're irresponsible with money, how, why would she want you to, why would she trust you to, to invest into something like I wouldn't trust you either, right? But as a husband, that's your responsibility for a man. To be the leader and to not show through words, but show through action, show through responsibility that, you know what, this is an investment that I want to make. And I'm going to make it because of this. And in order for me to get the result, I need to do this. And if I invest into something and it doesn't work out, then it's like, it's either a, I didn't do it or B, the program sucks, which most likely is not the case, right? Most likely is not the case, right? Now, the final thing that I'm going to say here, because I really do feel this just deep down in my bones. If you're the type of person who is afraid to invest into your business, I want you to think about just one word or it's one sentence. Why are you scared to invest into your business? All right. Why? Why are you scared? And 10 out of 10 times, the answer will come back to things that you're not willing to give up, right? Things that you're just simply not willing to give up. All right. And I'll end with a funny story. So over Christmas in 2021, all right, this is a couple of months ago, every month I get paid a very small amount of money from YouTube, right? It's like, I'm not going to disclose what that number is. But it's very small, but it adds up over time and I don't touch that money. Like that money gets locked up into an account and I can do a couple of things with that at the end of the year. Like if I wanted to invest into myself, I could do that. If I want to invest into some asset, I could do that. If I wanted to pay for something that brings me joy, I could do that, right? That money is just sitting there and it's accumulating every single month. And that's because I have at this point over almost 600 videos. So I've worked really hard to be able to do that. That just didn't just happen overnight. And I was sitting with my wife and I was thinking about what I wanted to do with that. And again, it's not a crazy amount of money, but it's over a year period of time. I could buy something or I could invest into something. And I was thinking like, man, like it'd be really cool to have ping pong table. Like I love playing ping pong. Ping pong is so fun. And I thought about it and I actually thought about this way longer than I should have. And I was like, okay, well, if I buy a ping pong table, that means like more people are going to be at our house. And like, I honestly, I don't really like it when people come over to my house. Like, so that was a red flag. And then I was like, well, if I buy this, I'm going to be spending a lot more time with it. So like, if I'm spending more time with the ping pong table and like friends or buddies that are coming over here, like, how, how is that going to impact my marriage? Right. So I started to think about that. And then I was like, well, I know how much I like ping pong. So if I have that table in my house, I'm probably going to want to like go practice all the time. So how is that going to affect my business? So you can see here, I started to analyze this decision. And I was like, what return am I getting on this ping pong table? Right. I know this sounds ridiculous right now, like me going through this process with you. But I found zero return on this other than like having just this like hour or three hours or four hours per week of, oh, this was fun. Right. Okay. And again, that hour or three hours or four hours of having this thing in my house, having people come over, spending more time with it. Right. If I'm doing that every week, I mean, if I'm spending three or four hours a week doing something that I'm not doing right now, well, I'm spending 12 hours a month doing something. All right. When I multiply that out times of the course of the year, I'm spending 144 hours doing something that I'm not doing right now. Right. And I looked at how focused I've been in my business the last year, how disciplined I've been in my business the last year. I'm like, well, now I'm just adding something to my plate. So me spending like, you know, $1200 on a ping pong table. And then I'm talking about like a nice ping pong table. Right. Me doing that is not going to be an asset. That that is not an asset in my business or my personal life that is going to take away and it's going to add to the plate of responsibilities. And I was like, I literally thought about this for three days, like a psychopath. And I was like, I don't need to buy this. And I was like, where can I put this money to work? Where can I invest this money? Not how can I spend it? Right. And I do know most people if they had that amount that I'm talking about, just sitting there in account, they would have spent it so quickly. And they would have just bought in the thing that I was the ping pong table. And then it was just going to collect dust over the next five, 10 years. Right. And I'm in the mindset of no, if that is not going to be an asset, it does not need to be purchased because if it's being purchased, I'm spending money. I am not investing the money. Right. And I want you to like really think about what I just said, like, do you think through things that way with your business? Do you think through things that way in your personal life? If you don't, maybe you should start, like, I think you'll start to see reflection over the next year in your bank account. Like, again, when you invest money, you get return. Right. I'm not going to talk about what investments you should make. I'm talking about like hiring a coach, just going deeper into your business, like even just investing money into like a website or a logo or business, like just doing something, right, putting money into the business. And again, if you're smart and you're an organized person, every time you invest money, it's a business write off. So you're not having to pay taxes on that money. That's like, amazing. That's such an amazing gift. Probably one of the only amazing gifts that our government gives us. Right. It's an amazing gift. You don't have to pay taxes on it. And it's like it's considered as an educational expense. Right. So again, I wanted to walk through that, that story with you at the ping pong table, just so you can actually understand what I'm talking about. And it's, you know, safe, safe to tell you here, didn't buy the ping pong table, don't need it. After I thought about it, I was like, no, I need to put this money to work. I need to put this money to, to be an asset. All right. And for me, that's investing back into my business or investing the money, not spending the money. All right. The final thing I'm going to say, and I know I said that like 10 minutes ago, but it is this, if you look at your bank account and you are not happy with what you see, like, let's say you're either in debt, which hopefully you're not, or you're like, man, like I thought by this age, I would have more money. I will tell you, it is, it is because of how you behaved over the X, you know, last X amount of years since you become an adult, your decisions have led you to the point that you're at now. And the best news about what I'm telling you is you can change if you want, you can change your habits, you can change your surroundings, you can change how you think. You can change how you, instead of becoming a spender or staying a spender, you can become an investor. That's all I got for you today. I know this is a very blunt message. I know in my mind, if this can help one person out there, I know that I've done my job because I wish I would have heard this message right when I started my business, because that first year in my business was very slow. That first year, I struggled a lot. I was really annoyed with how my business was going and I was stubborn. I wasn't prioritizing really investing money in my business. I was I was still stuck in my ways of like, no, I need to spend money on this stuff that brings me joy. No, an older I've gotten. I realize that stuff doesn't matter. Like when you become an investor, like later down the road, guess what? Like you'll be able to retire from coaching with money, not with retiring from coaching and then getting a job. That's how I look at it. Like you will have a retirement account because you are a smart investor versus a spender. All right, so hope this helps. If you want to connect with me personally, shoot me a message via text at 210.960.5771. I said this would be 10 to 20 minutes and I knew it was going to go longer. So sorry about that. So hope everything's good in your life and you have any questions. Like I said, shoot me a text. Make sure you're subscribed to what we're doing on Instagram and on YouTube and I'll see you later.