Money is fickle...it FLOWS only to the people who pay the most ATTENTION to it... Ep 50

In a candid discussion, Speaker A shares insights on financial management within the gym business, highlighting the common issue of revenue slipping through entrepreneurs' fingers without adequate personal compensation. They emphasize that money, likened to energy, flows to those who pay it the most attention. Speaker A insists on the importance of budgeting, understanding margins, and paying oneself a salary to ensure money sticks rather than disperses. They stress that landlords often end up with the money due to their focus on financial details, implying that gym owners should adopt similar attention to their finances to achieve financial stability and growth.

• Joe Green has made significant advancements to a particular play that are described as game-changing.
• The speaker is excited to release these advancements to legacy tomorrow.
• The conversation with Joe Green inspired the speaker to create a video to discuss a specific topic.

I just got off the phone with my man Joe Green. He made some advancements to this play that are literally game changing. I'm so excited to release them to legacy tomorrow.

The quote indicates that Joe Green has developed something innovative that will be released soon, and the speaker is enthusiastic about the potential impact of these advancements.

• Observations are made about the difficulty some people have in retaining money.
• It is noted that this issue can be particularly prevalent in the gym business.
• The speaker highlights the common scenario where business owners do not pay themselves and live minimally to cover expenses.

So, money's fickle, right? So how many people you know who just cannot hold on to money, right?

This quote introduces the theme of financial instability and the challenges faced by individuals who struggle to manage their finances effectively.

• The paradox of high revenue but low personal income in the gym business is discussed.
• Business owners often only cover essential costs and do not pay themselves a salary.
• This leads to a cycle of living out of the business account and barely managing to cover recurring expenses like rent and payroll.

You're like, we're doing all this revenue, and somehow at the end of the month, I don't pay myself, right?

This quote reflects the frustration and confusion of gym business owners who generate revenue but fail to see personal financial benefits, often due to poor money management.

• Business owners are described as living frugally and using the business account for personal expenses.
• They lack knowledge of their actual earnings and focus solely on surviving financially until the next payment is due.
• Stress is a recurring element, particularly before payroll, leading to a last-minute push for sales to cover costs.

And no one knows even how much they're making. They just know that they don't pay themselves and they just live as cheaply as possible in order to pay the next rent. Payroll, right?

This quote captures the uncertainty and the hand-to-mouth existence of some business owners, who are unaware of their earnings and are constantly under financial stress.

• Money is likened to energy, constantly flowing from one transaction to another.
• The concept of being a person to whom money sticks is explored.
• The cycle of money flow is traced from initial payment to various expenditures.

"That's what happened. So how do you actually end up being the person who money sticks to, right? So if you think about this from, like, an energy and money standpoint, money totally does have energy, okay?"

This quote introduces the idea that money has an energy-like quality, and the discussion is setting up to explore how one can become a person to whom money adheres.

"Every time you sell someone and they give you money, and then you have the money, and then you pay your trainers and their trainers go and buy supplements, right?"

The quote outlines the beginning of the money flow cycle, highlighting that money received from sales is used to pay employees, who then spend it on other goods.

"And then you pay the flooring guy to put flooring in at your gym, right? You do all these things that you're putting money out."

This quote continues tracing the money flow, showing how business expenses, like paying for flooring, are part of the cycle of money dispersing.

"Okay, now let's track it. So you paid your trainers, and then they blow all their money, most of it, right? But they pay their rent, and then they go eat out and blah, blah, blah, right?"

The quote illustrates how individuals who receive money from businesses (like trainers) tend to spend most of it on living expenses and discretionary items.

"And then you pay the flooring guy, and he pays his rent for his house or whatever, and then he blows."

This quote further emphasizes the pattern of money being spent by those who receive it, such as the flooring guy spending his earnings on rent and presumably other expenses.

"And then your case, you pay your landlord, and then the rest of the money just kind of disappears. You pay employees, you pay toilet paper or whatever, right? All these different things that you pay."

The quote sums up the dispersal of money as it moves from the business owner to various expenses, including rent and supplies, highlighting the transitory nature of money within the business context.

"That money that came in, hit you and then immediately dispersed out, and then it hit those people and then it dispersed out, right? It just continues to disperse and flow from one person to the next."

This final quote encapsulates the entire theme, describing the continual flow and dispersion of money as it moves through the economy, from business owner to employees to suppliers and beyond.

• Money flows from individuals to various entities like trainers, supplement companies, and clothing retailers.
• Landlords are often the final recipients in this flow where the money tends to 'stick'.
• Wealth accumulation is associated with property ownership and paying attention to money.
• Attention is an asset that is limited and must be managed wisely.
• Money gravitates towards those who focus on it and manage it carefully.
• Distractions and personal or employee issues can prevent proper financial attention and lead to money slipping away.

"Only person who the money sticks to real talk is usually that landlord, right? Your landlord holds on to his money, right?"

This quote emphasizes the idea that landlords are typically the ones who are able to retain money within the economic flow.

"And so attention is an asset. We only have so much of it. And if you don't give that to money, money will go to the person who pays it the attention."

The speaker, Joe Green, is highlighting the importance of paying attention to one's finances as a key factor in wealth retention.

"Like you pay attention, you receive money, right? Like you pay, you exchange attention for money in return."

Joe Green is suggesting that there is a direct relationship between the amount of attention paid to money and the ability to accumulate wealth.

"If you're super distracted, you've got personal issues, you've got employee issues, you got all these things. You have no attention left to pay money. So money doesn't pay you, right."

Joe Green points out that distractions can lead to a lack of financial focus, which in turn means money is less likely to 'stick' with the individual.

"And it's always very jealous. It will only go to the person who pays the most attention."

This quote personifies money as 'jealous', implying it will remain with those who prioritize and manage it above other concerns.

• Understanding and managing finances is crucial for business success.
• Budgeting and knowing profit margins are essential.
• Paying oneself a salary is an important aspect of financial management.
• Regularly doing the arithmetic in business to track earnings and expenses.

Speaker B: It will never, ever happen. I promise you. So you have to pay attention to money for money, to pay attention back.

This quote emphasizes the principle of reciprocity in financial management: careful attention to finances will result in financial gains.

• Knowing the money made per session is important.
• Awareness of payments to employees, such as trainers, is necessary.
• Understanding overall business margins is crucial.
• Constant awareness of these numbers is key to ensuring payment.

Speaker A: You got to do the arithmetic in your business, got to know how much money you're making per session, got to know what you're paying. Your trainers got to know what your margins are, right?

The speaker is stressing the importance of understanding all the financial details of one's business, including income, expenses, and profit margins.

• Money is described as unpredictable or capricious.
• Attention to money can influence its behavior in a business context.
• The concept implies that without focus, money can be elusive.

Speaker A: So anyways, money is fickle. That's some gym money math for you. If you need to make a couple of dollars, pay attention to money.

This quote suggests that money requires careful monitoring and management, otherwise it may not yield the desired financial outcomes.

• The speakers provide encouragement to their audience.
• There is a sense of community and ongoing engagement.
• A future meeting or event is anticipated with enthusiasm.

Speaker A: All right, lots of love, guys. Have an amazing Thursday. I will catch you guys so soon. And my legacy. Guys. I'll see you guys tomorrow. Six. I'm actually really pumped about it.

This quote serves as a positive and uplifting conclusion to the conversation, expressing affection and looking forward to future interactions.