#333

In this bite-sized episode, Billy shares a practical framework for thinking about spending in your business using ideas inspired by The Art of Spending by Morgan Housel.

The big takeaway: money decisions are emotional first, logical second. That's true for your clients, and it's true for you too. We walk through three questions to help you evaluate spending more clearly:

• Is this an expense or an investment?
• Is it aligned with the vision and values of the business?
• Am I thinking long term?

I explain why it's important not to underspend in the wrong places, especially on people and marketing, while also avoiding wasteful spending that doesn't create return. I share real-world examples from gym owners, coaching, software, and automations to show how these decisions play out in practice. I also make the case that not every expense has to be perfect on paper. Sometimes spending is worth it because it saves time, reduces stress, or protects flexibility in the future. If you want to make better financial decisions in your business, this episode gives you a simple but powerful way to think it through.

Key Takeaways

• Spending is emotional, even when it feels strategic.
• People and marketing are two areas where underinvesting can hurt growth.
• Some software and subscriptions quietly drain profit over time.
• The right spending should align with your business vision and values.
• Long-term thinking helps prevent emotionally driven mistakes.

Mentioned in This Episode

• The Art of Spending by Morgan Housel
• A calculator/resource from Naamly to evaluate savings and profitability
• Forecasting and cash flow planning as decision-making tools

Quote to Remember

"Is this an expense or an investment?"

Listener Challenge

Take one current business expense and run it through these three questions:

1. Is it an expense or an investment?
2. Does it align with my vision and values?
3. Am I thinking long term?

#332

In this episode, Billy shares practical insights on managing taxes effectively for gym owners and fitness entrepreneurs. Learn how proper bookkeeping, strategic planning, and understanding deductions can save you thousands and set your business up for sustained success.

Key topics covered:

• The story of a gym owner with a six-figure tax bill due to neglected filings
• The importance of regular bookkeeping and maintaining accurate financial records
• Why waiting until tax season to start planning is a costly mistake
• The risks of commingling personal and business finances
• How to focus on profitability rather than chasing every deduction
• Strategies to get current on back taxes and avoid penalties
• Practical steps: setting up a separate tax savings account, reviewing entity structures, and planning retirement contributions
• Understanding how taxes relate to business KPIs and overall profitability
• The danger of buying assets solely for tax deductions without considering cash flow impact
• The value of working with your accountant throughout the year, not just at tax time

Resources:

• Your Fitness Money Coach

Connect with Billy:

• IG
• Website contact form

Stay ahead of costly tax mistakes. Implement these strategies today to improve your profitability and peace of mind.

#331

In Part 2, Billy and John continue with the story after John's recovery and shift into the lessons that followed: faith, family, money, investing, business, and the purpose behind success. This half of the conversation focuses on what John learned after the hardest chapter of his life and how that reshaped his priorities.

Key Topics

• Life after Guillain-Barré and the road to recovery
• The role of family, faith, and purpose during rehab
• Why adversity became fuel for growth
• Returning to training and reconnecting with martial arts
• Moving to Texas for safety, family, and lifestyle
• The truth about money, freedom, and happiness
• Early investing habits and living below your means
• Teaching kids about stocks, compounding, and ownership
• Real estate and land as long-term investments
• Mortgage paydown vs. investing strategy
• The dangers of comparison and envy
• John's mission to inspire young people through his story

Resources and Links:

• John's Site
• John's IG
• Billy's IG

Please tag us with any takeaways or thoughts and share the show. People really need this one.

John Petrelli is a motivational speaker, 2x best-selling author, and performance coach with more than 30 years of experience helping individuals and organizations achieve their highest potential. Throughout his career, he has worked with professional athletes, Grammy Award-winning artists, A-list entertainers, and companies including Google, Amazon, and Whole Foods.

After overcoming Guillain-Barré Syndrome, which left him completely paralyzed, John transformed his personal journey into a powerful message of resilience, leadership, and the power of a positive mindset. His engaging, story-driven presentations inspire audiences to embrace challenges, overcome adversity, and turn setbacks into opportunities for growth.

John is the author of Confessions of a Hollywood Trainer and the creator of the Built From Failure keynote, empowering students, educators, healthcare professionals, and corporate teams to unlock their full potential and lead with purpose.