Dollars and Dumbbells - Profit and Wealth Tips for Online Health and Fitness Coaches · Justin Green, CFP®

153 - 3 Ways to Increase Profits in your Business w/ Lauren Schoenfeld

·40 min·2 clips

Lauren says owners who pay themselves nothing will burn out and start making fear-based decisions.

1. Dollars and Dumbbells - Profit and Wealth Tips for Online Health and Fitness Coaches episode 153 centers on Lauren Schoenfeld’s approach to profit, pay, and pricing for boutique fitness studios. 2. Justin Green hosts the episode as a Certified Financial Planner and founder of Assist Financial Planning, and Lauren Schoenfeld is the founder of ActiveCore Consulting, where she serves as a fractional CFO. 3. The episode asks how a studio owner can increase profit, decide what to pay themselves, and connect business finances to personal cash flow. 4. Lauren says ActiveCore Consulting handles QuickBooks, P&L reporting, financial projections, monthly goals, coaching, sales coaching, and operations coaching for boutique fitness studios. 5. Justin and Lauren both describe how owners often have a business plan, but no scorecard showing whether lead generation, pricing, or marketing is actually working. 6. Lauren uses the phrase "throw spaghetti at the wall and see what sticks" to describe businesses that keep changing tactics without data. 7. Justin says experimentation matters, but he wants the results backed by numbers before a business changes direction. 8. Lauren says money mindset work belongs at the start because limiting beliefs can make business owners freeze when they see numbers on a spreadsheet. 9. She points to Brad Klontz and Ted Klontz, both PhDs, and their financial therapy work on money scripts. 10. Lauren says two people can both grow up poor and still end up with opposite patterns, including greed or extreme frugality. 11. Justin repeats the line "money is never the issue" and says thoughts about money shape the problem. 12. Lauren’s group coaching program starts with two weeks on money mindset and limiting beliefs before projections, offers, and pricing. 13. She says the first step of her owner's pay roadmap is figuring out the money someone needs for a life with no luxuries before moving to better income targets. 14. Her bucket system uses separate checking accounts for bills, habits, short-term savings, and long-term investments. 15. Lauren compares mixing all cash in one account to a Las Vegas buffet, where money gets spent without a clear purpose. 16. She gives a personal example of saving $15,000 to $17,000 for a car before an accident, then bringing in another $10,000 on a project basis to cover the balance. 17. Lauren says many studio owners came to her after the pandemic with debt and back rent, so 2021 and 2022 were focused on studio rescue. 18. She says 2023 and 2024 were the period when more owners began paying themselves and seeing the owner's pay roadmap work. 19. The episode has an interview format with Justin asking direct business-finance questions and Lauren answering in a practical, coaching-heavy style. 20. Listeners who run boutique fitness studios, coaching businesses, or owner-led service firms will get the most from this discussion, while people wanting entertainment rather than cash-flow details may skip it.

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