Build Real Wealth Today!

Don't Let Success Bankrupt You: A Coach's Guide to Building Real Wealth

Listen up! We need to have a real talk about your money. I've been exactly where you are, and I'm going to give it to you straight: making money and managing money are two completely different skills – and just like you can't build an impressive physique without both nutrition AND training, you can't build wealth without mastering both.

The Harsh Reality Most Coaches Face

Too many of us crush it in our coaching businesses but end up with nothing to show for it. You charge premium rates, have a full client roster, and your Instagram is poppin' – but your bank account tells a different story. Trust me, I’ve been there early on in my coaching career.

Let me be blunt: when you start making more as a coach, lifestyle creep will try to kill your financial future faster than a client going on an all-out cheat weekend. New gear, fancier car, better apartment – I've watched countless successful coaches blow their earnings on status symbols while building zero wealth.

My Wealth-Building Blueprint

Here's my personal playbook: I focused on eliminating debt first, then automated my savings before I could touch the money (kind of like hiding the cookies from yourself). This disciplined approach allowed me to buy a house, eventually sell it at a profit, and migrate my business to a new country with multiple six figures in the bank. Not too shabby for a guy who used to be better at spending money than saving it!

The secret? I treated my finances with the same precision I demand from my clients with their training:

1. Track your numbers religiously – Your cash flow isn't how much you make; it's how much you KEEP. Know exactly where every dollar goes, just like you know where every gram of protein goes.

2. Implement the 50-30-20 rule – 50% for essentials, 30% for wants, 20% for savings/investments. Think of it as your financial macro split – it's not as fun as 80% ice cream and 20% vegetables, but it works a lot better.

3. Demand ROI on every business expense – If you spend $300 on ads and sign a $3,000 client, that's a 10x return. Do that all day. But that $20,000 mastermind? You better have a concrete plan to make that money back FAST.

Financial Red Flags for Coaches

Watch out for these warning signs that your financial fitness plan is failing:

• You have no idea how much profit (not revenue) your business generated last month

• Your business and personal finances are completely intermingled (financial equivalent of skipping leg day)

• You're making decisions based on tax write-offs rather than actual ROI

• Your emergency fund couldn't cover a slow month, let alone 3-6 months of expenses

• You're spending more time counting likes than counting dollars

The Macro-Tracking Mindset for Your Money

You already understand tracking macros, right? Apply that same discipline to your finances. Just like you wouldn't let clients eyeball their protein intake, don't eyeball your spending.

Think about it – if a client said, "I think I'm eating enough protein" without tracking, you'd laugh them out of the gym. Yet so many coaches say, "I think my business is profitable" without tracking a single number.

The coaches who track their financial macros with the same precision they track client nutrition are the ones who build real wealth – not just the appearance of success. Your bank account needs the same attention as your biceps, and trust me, compound interest is WAY more impressive than compound exercises in the long run!

Your Next Steps – Starting Today

Here's your financial training program (don't worry, no burpees required):

1. Get QuickBooks or similar accounting software TODAY – Seriously, stop reading and sign up. It's $30-50/month and will change your financial life. Track every dollar coming in and going out.

2. Conduct a full financial audit this weekend – Where is your money actually going? Which "investments" are paying off and which are just expensive hobbies? Be as ruthless with this as you are with form checks.

3. Automate your savings IMMEDIATELY – Set up an automatic transfer of at least 20% of your income to a separate account before you can touch it. Think of it as meal-prepping for your financial future.

Remember, your future self is counting on the financial decisions you make today. Don't let them down. You wouldn't let a client half-ass their workouts – don't half-ass your financial planning.

The hard truth? Most coaches will never retire as coaches. They'll either burn out or go broke trying to maintain an image. But that doesn't have to be YOUR story.

You've already proven you can build a successful coaching business – that's the hard part! Managing your money is just applying the same discipline you already have to a different area of your life. You've got this!

Now go get QuickBooks and start tracking those financial gains! Your future wealthy self will thank you – probably from a beach somewhere.

Keep Raising the Bar,

Paul Oneid MS, MS, CSCS