Blog - Yax Yoga Concepts

13
Nov

21: Yoga Is Not For Everyone! The Big Problem In Thinking It Is, How To Figure Out Who You Really Serve, And How To Attract Them To Take Your Classes

Yoga Entrepreneur Yoga Business

What Is This Episode About…

In this episode, Chris talks about the importance of yoga entrepreneurs knowing the kind of clientele they want to serve. It’s very critical for a yoga entrepreneur to enjoy being around his/her clients because it contributes greatly to the thriving and sustainability of their business.

Chris will share the mistakes himself and John made at the beginning of their studios in regards to sending mixed messages to the marketplace because they felt “Yoga is for Everyone”, and how they got passed that. Tune in as he also shares the framework that will help you figure out who your ideal client is, so you can make money while enjoying serving your students.

Key Points Discussed:

  • The mistakes John and Chris made when they were starting out (01:57)
  • Figuring out your avatar or your ideal client (04:51)
  • The three markets: Health, Wealth, and Relationships (06:16)
  • Understanding your sub-market and where you fit? (09:36)
  • Crafting your message around who your who is (12:55)
  • The three biggest reasons why people go to yoga (16:10)
  • Delivering on the experience that you’re promising (21:13)

Learn More About The Content Discussed…

Join The Facebook Group –> http://bit.ly/yogaentrepreneur

Learn more about Cashflow Tactics

When Was It Released…

This episode was released November 13, 2019

Episode Transcript…

Disclaimer: The Transcript Is Auto-Generated And May Contain Spelling And Grammar Errors

 

00:00          What we want to really talk about today is understanding that your who, who it is that you want to serve, is like the very first thing we need to figure out as yoga entrepreneurs, whether you’re in a yoga studio ownership role, or whether you’re just like a solopreneur doing your thing and offering yoga and all the different places that you offer yoga. Regardless, we want to get really clear on who it is that we serve.

 

00:24          What’s up everyone? You are listening to Yoga Entrepreneur Secrets. I am Chris Yax, and I’m John Yax. We are part of a small group of yoga entrepreneurs who are committed to making a living, doing what we love, without feeling guilty about making money, or ashamed of being successful, because we know the real value of yoga and how the world needs it now more than ever. This podcast is here to teach the strategies and tactics so we can thrive financially as yoga entrepreneurs. We are the Yax brothers and welcome to Yoga Entrepreneur Secrets.

 

00:55          Alright. Good morning. Friday morning, and here we are, Yoga Entrepreneur Secrets. And, we’re going over… Today I say we because I always say we. I am going over… John is here, he’s just not in the camera. He’s behind the camera and… I’m excited about this one. Because for years and years… so we opened up Hot House Yoga in 2005. Now, in 2005, it was… the whole industry was totally different. I mean, this is now 15 years ago. And so, like, it was so new. What we were doing, yoga studios were still like, it was not super common to have yoga studios in the area, in… like in the marketplace. Like there was… it was beginning, but we were like right on the cusp of like this whole idea of yoga really exploding. And so, we had the benefit of that because it was so new that just saying yoga was like enough of what in the marketing world is called a pattern interrupt for people to be like, “Wait a second. Yoga? Like, what are you talking about? What is this thing that you call yoga? What are these postures? Let me check it out.”

 

01:57          But, what we want to talk about today is, what we did wrong back then, what we’ve learned since, and the power of understanding you’re who. So the whole training today is about who is your who. And to finish the story, back in 2005 when we started, we thought that yoga was for everybody. Now, it’s going to sound odd, because I truly believe yoga is for everybody. I believe wholeheartedly that there is a style of yoga in this world that’s being taught in some community that people live in, that is perfect for them to achieve the results they’re looking for. I know it’s true because I just believe wholeheartedly in the process, and understand the value of what’s the service that we’re providing as a yoga community.

 

02:41          Now, what I also understand is, the “what I do” isn’t for everybody. Back in the beginning, when we first started teaching, the way we would message to the market, to the people who we wanted to attract was, it’s for everybody, so hey, if you’re this or if you’re that and if this person or that person, you’ve got this experience or that experience, then we want you to be here, because we can help you. And, what I mean is, in every single message, that’s what we were saying. Whether we were broadcasting that on radio, where we were broadcasting that on TV, whether we were broadcasting that in a local newspaper, or magazine, or rag, it was like, we would list all of the things that we thought we could help, which was basically a list of everybody who’s ever… that we could ever think about who has had any problem ever in their life that we thought yoga could help, and we would list it. And what happened….

 

03:33          Now, like I said, in 2005 like just by saying we offered hot yoga, it was enough of like, okay, they list all these things. Like I may pick out one of their things for me, but I’m going to try it anyway. Now the market is so mature that doing that people are like, no, that’s not for me. Why? Because when you speak to everybody, you speak to nobody. And so what we want to really talk about today is understanding that you’re who, who it is that you want to serve is like the very first thing we need to figure out as yoga entrepreneurs, whether you’re in a yoga studio ownership role or whether you’re just like a solopreneur doing your thing and you know, offering yoga and all the different places that you offer yoga. Regardless, we want to get really clear on who it is that we serve.

 

04:13          And there’s a process that John and I have learned that we’re now teaching that has worked for us really, really well. And so we’re going to take you through the process today. Oh, we’ve just done a, an advanced teacher training where we taught this in depth. This is going to be more of a 30,000-foot view. Let me give you some of the ideas. And so there’s just not, I want to keep these, these trainings a little shorter and so there’s just not enough time to be able to dive into the real mechanics of this. But this should give you a good insight into like, okay, how am I marketing now and is it effective what I’m doing now and can I make the tweaks understanding this, that may help it be more effective cause we want to reach the people who we know we want to serve.

 

04:51          And so it starts by understanding who is your who. Now we’re saying who is your who because it’s kinda catchy. But what we’re really saying and the other way of looking at it is that who is your avatar or your ideal client? Now, why is it so important to figure that out? Because these are the people that you’re going to be spending your time with, that you’re going to be attracting into your world and like they’re going to be the relationships that you form and you want to make sure that the people that you are attracting are the people that you want to be with, that you know, one you can serve and two, that are going to appreciate what it is that you’re providing. Because we’ve been there where we had like those students who they weren’t the right fit. I don’t know how we attract on or what message they heard that brought them in.

 

05:34          But I knew this was not gonna work out. And there was a period of time where we kept attracting the wrong students and we was, because the message we’re sending was the wrong message attracting the wrong people. So my first point is that why this is so important is that when I’m in business, whether or not a business is a relationship that you’re forming with the people that you’re employing and, or you’re employed by or, and the people that are coming in that you’re servicing. And so we want to make sure that the people that we are servicing are the people that we enjoy hanging out with and that we know we can help. So understanding this is really important because it’s kinda like what I want to be in this for the long haul and I want to make sure that the people that are here, that I’m serving, that I’m seeing, that I’m communicating with and I’m talking to, that I’m helping are the people that I enjoy being around.

 

06:16          That’s just selfish. But it’s also important for the thriving in the sustainability of your business. Uh, so let’s start jumping into it. And what I want to talk about first is the three markets. The three markets are health, wealth, and relationships. Now, I don’t care like we’re talking about yoga, cause this is yoga entrepreneurs secrets. But anything that you as a service that you provide, what you’re really providing is one of these three things. Is it health? Is it wealth? Is it relationships? Now, what’s interesting when I flipped the page and what you’ll see is that any service or product can be sold within health, within wealth or within relationships, depending on the positioning. And so this is what I mean, that’s the other side. All right? So we have the market, you have HWR, health, wealth and relationships. And for our purposes, because we’re talking about yoga, the submarket.

 

07:09          So as you go down, you’re like, okay, I’m in health, but my sub-market is yoga. Like you get, start getting more detailed as to what it is that you’re actually providing. And as we go deeper, it’s then who am I actually serving? When I get deeper into this. And so market health market wealth market relationship, the sub market as you go deeper is like okay for us, let’s just say it’s yoga, right? Generally yoga for each one. No this is what’s cool is that we think, and you may think this too and it may be true for you and what you provide that yoga, if you just look at it for the face value of it, it’s health of course people are coming in, they’re getting stronger, they’re getting more flexible, right? They are getting the mental benefit of conscious movement and conscious breath, which is then helping them like the mental clarity that’s created, right?

 

07:55          You could even say that is helping the relationship with themselves. Cause if you look at the deep and the core of what yoga is, it’s our sense of self that we’re correcting in the totality of what yoga offers. So what’s so cool is that yoga can actually be sold or position in the health market, in the wealth market or the relationship market. And what I mean is when you get to your niche, I may decide that I want to serve people with post traumatic stress disorder, right? And so that puts me squarely in the health market because they are unhealthy mentally from a past traumatic experience. And I want to help serve them so that they can be free of the PTSD. Now we’re still in yoga and I could say, you know what, my niche, I’m a business coach and so I wanna help yoga studio owners or yoga entrepreneurs or online yoga businesses to make more money [inaudible] so you could be in the yoga business because up market you could be a business coach and be totally people make more money in the wealth market.

 

08:57          I hope this is making sense cause all of a sudden what you think you’re providing, you may realize, Oh, you know what? I have a different niche. I’m pretty sure the people I’m talking to right now is we’re going to be squarely in the health and maybe the little bit in the relationships, but this is important just to understand the framework so that you can find out where your positioning is and then understand who it is that you want to serve. So this is at the beginning framework that’s going to help us get to that hoop. Now I could also say in relationships I teach yoga, but I teach yoga for marriages, right? I am a couples relationship yoga expert and that may be true. You may have gotten your training and it’s all around relationships. You may have been a therapist and then you got years yoga certification.

 

09:36          You find the blend, this beautiful blend of what yoga can do for relationships and use your therapy sessions and create this beautiful experience for people that helps them with relationships, right? So it’s really cool to see understanding the market, understanding your sub market and where you fit is going to start really getting more, giving you more clarity as to who it is that you’re serving. Now at the, you may be saying like, Whoa, that’s a lot of information. How do I know? Well, what we always say and what we teach is look at the start point is to look at your story. What brought you to yoga? What were you struggling with that you wanted to resolve that yoga? Like then you found yoga and yoga helped you experience it so much so that you’re like, you know what, I’m coming a teacher and I want to serve.

 

10:22          I want to serve because I want to help people like come, like go through and get past what I’ve gone past. I want to share it with others and then I want to do it so much. So then I’m opening up a yoga studio and I’m gonna get people coming through the doors. Right? And so once you have that story in mind, what’s so powerful about that is then you’re then going to craft who you want to serve around that. Now it may not be your story. So we’re doing that. A thought in the beginning, the advanced teacher training that we were doing like two weekends ago, there’s a woman there who she is serving the PTSD community now. She didn’t have it herself, but she was a member of the military and the people that she saw within the military, her, like her team and her peers within that community, she saw suffering.

 

11:09          And so what she wanted to do was help those people. And funny enough, there was another gentleman who, who actually had the experience of PTSD, was in the war and came back and was struggling with it and yoga helped them. So we have two people like serving the market of people with PTSD. Now what’s really interesting is both of them are in the military, but as you go into it, so let me finish the point part. One of them was like, this is my story. I use yoga to overcome my struggles with PTSD. And the other one was like, I didn’t have it, but I am called to serve that community because I was part of the community and I see them struggling and now I know what I have as a gift of yoga can help them and so, but my point is still part of your story is going to be the people that you want to serve, whether it is your story specifically or a story of somebody in the community that has called you to serve.

 

12:02          Now next level, this is where we’re really getting into the nitty-gritty is so let’s just use this PTSD, yoga and health as the example. There’s various types of people who suffer from post-traumatic stress disorder, right? And the example I just gave, part of that demographic is veterans who have been to war and have come back and they’re struggling. Another aspect of that is first responders, who every single day are putting their lives on the line and going into just unconscionable scenarios where their fight or flight system is like fired every single day. And that repetitive experience, whether it’s just one horrible experience or just the repetition of that, it just fires up the brain to be constantly on guard, right? And so they may be the type of person that you want to serve or people that have domestic violence in their past that have struggled to overcome that.

 

12:55          So even within the post-traumatic stress community of this, this type of niche that you want to serve, there are various types of people. Now this is what’s important as a service, what you’re providing for that specific person, the solution, the yoga, the product that you’re putting together isn’t necessarily going to change between veterans first responders or domestic violence people. But the way in which you attract those people must be different because the message I’m talking to a veteran about is not going to be the same message that I’m talking to someone who’s experienced domestic violence. So understanding your who crafts the message so that you can attract them attracted meaning, Hey, are you struggling with this? I have a solution. I, I’ve either been there or I’ve helped people get past what you’re experiencing. And then they’re like, yes I want to be past this.

 

13:46          And they say, what can I, what helped me? And you’re like, yes I can help you. And then all of a sudden you’ve attracted your who because you understood where your niche was, where they were, meaning what was their story? And then you told a story in relationship to what they experience, meaning your message to attract them because you related to them in an honest and authentic way. I hope this is making sense. This is so important. And so let me take it back to the yoga studio owners cause we have a lot of those in the group. So the yoga studio example is for most of us, I know there’s anomalies here, but let’s just take, I’m going to take, make a big sweeping generalization and say most of the yoga studio owners, they’re in the health market with the sub-market of yoga. And it’s general terms and like for us, this is our example.

 

14:34          Our niche is hot yoga. Within that market, we teach hot yoga. Everything we do, we turn on the heat and we do these two styles of yoga. Now, this niche for some of you may be on your Saara, maybe I and Gar, maybe Ashtanga. That may be your thing. Some of you have a studio where you’re like the where I do kind of everything all the time. There’s some challenges to that, but we’ll talk about it. So within that, I then have to know like this niche isn’t enough for me to know who that is. I have to get into saying like, okay, in my story, in my experience of what yoga did for me, who is it that I really serve? And my story is one of, initially it was pain. I was in martial arts physically in pain from the, the intense training that I was doing.

 

15:20          And yoga helped me alleviate that. And so I look at this and I’m like, Oh, I can speak to people who have body pain and they may not have the relationship of martial arts. That may not be the trigger of it. It may be aging, but I can still speak to the solution. The result that you can get from practicing at our studio in relationship to being out of pain. What I also know is I went through a period, right? Like as a business owner, as a father, as a husband, there are stressors in life that trigger me every single day and I know this practice helps me manage and alleviate that stress. Now the other third part, and I’ll talk about the broader, so this is my example and I, we actually have a, what’s called a funnel right now for our introductory package, and it’s John’s story of his acute stress disorder that happened because of martial arts.

 

16:10          So not only physical pain, but stress and how yoga helped alleviate from it. And so he tells his story on this landing page that encourages people to hear what he’s saying, to relate to what he’s saying. And then potentially come in and buy a two week unlimited to come in and try out to get the same result. So it’s so important. All of a sudden we have a message that we know who we’re talking to from our own experience or a person that our lives experience who were called to serve. And then we present that message within a story understanding what John talked about last time, vehicle, internal and external, false beliefs that the story helps to alleviate. So what we’ve done, the studies that we’ve found is that there are three big reasons why people come to yoga, right? So in whether it’s hot yoga, whether it’s a new start, when they think of yoga in the broadest terms of what they’re looking to alleviate, the results they’re looking for is stress relief, alleviation of body pain, and they want some type of alternative wellness.

 

17:07          Meaning the gym isn’t doing it for them anymore. Running’s not doing it for him anymore and they need something different that’s going to help them get the result they want. Whether it’s aging, then fighting the effects of aging, whether it’s just keeping the body in shape or whether like whatever it is, flexibility. So alternative wellness. The other thing is like in that is flexibility. So when I go back to the story I told them beginning in 2005 what we were doing was in every single one of these, Hey, want to get flexible, give back pain. Is life really stressing you out? And if you have one of those, but you see the others, what it says is, well that’s not really me, but when I now say, Hey, are you stressed? Here’s the story of my stress and how this hot yoga experience helped me and that’s it.

 

17:50          That’s the only message they get because then I know who to target because I know who my who is. My point with this is I then may have a different and different message to people with body pain. Now. Again, it may not be my physical body pain story, but it may be someone who I’ve helped give the result that they’re looking for. We have a friend who we’ve known for a long time. He came in with severe back pain, well he loves to surf and he wasn’t able to surf. It was literally like the passion that he’s most excited about in life. He wasn’t able to do. He’s come in and now he’s surfing. He’s like, he has a house in Nicaragua and he’s like planning on retiring early and going and living there and he was given that opportunity because of what hot yoga gave him the relief of his back pain.

 

18:31          That’s a powerful story. If someone has that and they feel how back pain is like been debilitating them in their life and it’s taking away the passions that they have, like the joy of living. That story is going to connect with them, but it wouldn’t connect with them if I also added and are you stressed and would you like to be more flexible state? My point is when you understand your niche and you understand your who, your who may be varied. Like in the yoga studio example, that’s why I wanted to outline this is that I’m not gonna devote all of my effort necessarily and say my whole yoga studio is devoted to body pain. You may choose to do that, but what we know is that there are the three types of people, and if I understand there’s three types of people and I understand what they’re dealing with, I can tell a story from people who we’ve worked with or our own story that can help attract them and get them to come in so they can achieve the same result that the story has told them that we’ve experienced.

 

19:22          So what we’re really saying is like niche marketing. Some of you have that very specific thing. I don’t, my sister who’s in this group, she wants to serve people with special needs. That is a very specific thing where she may not be in this stress, body pain, alternative wellness arena. She knows exactly and it’s a very specific type of person that she’s going to craft her entire studio, her entire business around serving that population. That may be it. But for us as a yoga studio owner, I am not focusing completely on one of these. I’m sending different messages to each one of those people to attract them. And what happens in that meaning I’m like paying for ads is I’m paying for information. Did that message work? It doesn’t mean it’s the wrong message. I may have just relayed it in the wrong way. The story may not have landed right.

 

20:13          I may have put it in the wrong in the wrong format. The headline may be off. I may be like missing the target within if you’re doing Facebook ads. So what’s really important is you’ve got to test it. And we’ve been doing this for 15 years and we’ve tested a lot and that’s why I can say confidently stress, body pain and alternative wellness. Now who’s got stress? Parents have stress, moms have stress, business owners have stress. So then in that I want to focus my attention on stress related to business owners. I can relate to them because I own a business, right? I can relate to parents because I’m a parent. You see what I’m saying? Like the sudden how even within this there are these little submarkets of people that you can attract. This is so important as as a yoga studio owner because wherever you land within the niche of what you do, understanding who you want to serve and understanding the story that got them to where they are allows you to send messages that relate to them that attracts their attention and hopefully brings them into your, your atmosphere, your orbit so that you can serve them.

 

21:13          The last thing is whatever this is, you got to make sure you deliver on it. Right? For us, we know that the methodology that we use within hot house yoga and what we teach and the concepts and the teacher trainings, it works. It works because we’ve been doing it for 15 years and we have the results, the social proof of people who have been practicing with for that long. And they’ve given us testimonials as to man, it’s changed everything in how I relate to stress and the stresses of my life. It’s totally like our friend who’s, I’ve got zero back pain. This is the place that’s done it for me. Right. So my point is, if it’s back to if you’re an Institute of yoga, are you sure that the classes that are being delivered to your students are giving them the experience that you’re promising?

 

21:54          Cause what we’re really saying with these when you get down to your who is your giving them a promise of some result and just make sure that you’re delivering on it. That’s the most important thing. So that was a lot. And I’ll try to condense it and keep it short, but I hope it was helpful. I know there was a couple of questions. John, will you, uh, do you know if that question all right, Karen, you said how to figure out why you’re marketing to a certain type. What makes you want to market to them? It’s a great question. So why you’re marketing to a certain type. It goes back to your story. Why? Like why are you marketing to a certain type of like the bigger why is that’s the only way your marketing is going to be effective. You have to know who you’re talking to.

 

22:35          If you don’t know who you’re talking to, then you have no idea how to craft the message, which is really just wrapped up in a story of someone’s struggle. They’re the solution for the result and then the achievement in the transformation that they experienced. So the why is this is like how you like broadcast the way in which you broadcast your message. If you don’t know who you’re talking to, then you don’t know how to speak to them. Now as far as that was, why would you choose one person versus another? Well, I would always say just go back to your story. Like why? Like who do you want to serve based on what you feel called to do for them? So for me it’s like I know the power of yoga because of how it helped me experience like a pain-free body and a stress-free mind.

 

23:19          Right. Funny enough. That’s why that’s like two-thirds of the reasons why people come in. Now I want to serve those people. I may decide I want to serve those people who are stressed, who are parents who I feel super call to because I know that the reality of when you’re stressed, what happens and how you treat your children is way different than when you’re like your mind is free and you feel good and you’re joyful about the experience of living and so the why is really like what do you, who do you feel called to serve and why would you want to serve them? Because you have this heartfelt desire to make real lasting change in their lives. That’s why we start with what is your story? Why did you get into yoga? Why are you teaching it? What was your experience or what was the experience that you had living where you were introduced to someone who is this type of demographic of person who now you want to serve because we feel so-called.

 

24:05          It’s got a spark. Why is because it has to spark passion if you’re in this for the long haul and so you really want to be like, like have longevity in this business. Who you’re serving has got to resonate with you deeply because at the end of the day, it’s the night. The value that you provide is what causes the money to come in, but that’s not why you’re doing it. You’re doing it because you feel this heartfelt desire to serve this person, to give them a result that they live a more passionate and purposeful life. That’s why this is so important is because you’re like narrowing down and getting super excited and passionate so that you can be within the struggle of what it means to be an entrepreneur, what it means to be a studio owner and all of the fires that come up. And you have this like it’s literally the fuel to keep you going every single day because you feel so passionate about serving that person or that demographic or that group of demographics of the people that you know we’re going to come in and that you can really help. That’s the reason. That’s why. So if there are any questions an after the fact, if you’re watching this as a replay, please put them in. Uh, let’s keep this as an ongoing conversation and we’re gonna keep delivering this the next week. We have another lot of training on Friday and please join us. Thanks

 

25:13          you so much and we’ll see you soon. Yes, thanks so much for listening to Yoga Entrepreneur Secrets. Do you have a question that you’d like us to answer raw and uncut on the podcast? If you want your questions answered, all you need to do is head over to Apple Podcasts, and do three simple things. One; rate and review telling us what you think of the podcast. Two; in that review, ask anything you want related to yoga, and three; if you want to shout out, leave your Instagram handle or name and that’s it. Then listen in to hear your question answered Live, raw and uncut. Join us next time on Yoga Entrepreneur Secrets Podcast. Thanks.

6
Nov

20: How to Sell Without Selling – The 3 False Beliefs That Must Be Broken To Get New Students In Your Classes And The One Technique To Break Them

Jonh Yax Yoga Entrepreneur Secrets

What Is This Episode About…

In this episode, John will talk about the art of selling without selling, and dive into the psychology of selling anything, specifically, selling yoga. He will describe the psychology and how the brain processes a potential purchase. 

He will also go through the 3 False Beliefs: Vehicle (does it work), Internal (can I do it), and External (do I have the resources), and tell us the best way to break those false beliefs through storytelling. He will then describe a very simple framework to tell your stories so that you can always motivate potential students to sign up to your classes. It’s gonna be a resourceful 23 minutes, so take out your pen and paper.

Key Points Discussed:

  • The psychology of selling yoga: Potential students’ belief patterns around yoga (01:02)
  • How it all gets lost in translation and the “Can I Do It” internal belief (04:16)
  • How to replace their stories to change their beliefs (08:34)
  • The great power of testimonials and the basic story (12:24)
  • The transformation is better than talking about the struggle and results or searching for the solution (20:15)

 

Learn More About The Content Discussed…

Join The Facebook Group –> http://bit.ly/yogaentrepreneur

Learn more about Cashflow Tactics

When Was It Released…

This episode was released November 06, 2019

Episode Transcript…

Disclaimer: The Transcript Is Auto-Generated And May Contain Spelling And Grammar Errors

 

00:00          We want to shift people’s belief patterns so they’re not stuck in the vehicle, the internal, the external. We wanna tell people stories that take their belief, and the old story that’s holding that up, and we’ve replaced their old story with the new story. It could be ours, it could be somebody else’s, it could be a testimonial story, but at the moment we shift that story, their belief changes. And that, my friends, is the key to not only storytelling, but it is the key to the art of selling without selling.

 

00:32          What’s up everyone? You are listening to Yoga Entrepreneur Secrets. I am Chris Yax, and I’m John Yax. We are part of a small group of yoga entrepreneurs who are committed to making a living, doing what we love, without feeling guilty about making money, or ashamed of being successful, because we know the real value of yoga and how the world needs it now more than ever. This podcast is here to teach the strategies and tactics so we can thrive financially as yoga entrepreneurs. We are the Yax brothers and welcome to Yoga Entrepreneur Secrets.

 

01:02          Hello. Hello, hello. Welcome, welcome. And so, Yoga Entrepreneur Secrets, people. All you entrepreneurs out there, we are going live, and we’re talking today about the psychology of selling yoga. This is really the psychology of selling anything, but specifically the psychology of selling yoga. And so, what we want to start with is, for any of you who have ever had somebody come up to you and say, “I want to do yoga.” Like, even something as simple as that. Like, “I want to do yoga. What’s yoga about? Or talk to me a little bit about it.” They are essentially… even if you’re not actually offering them a class. Even if you’re… maybe you’re not even in your studio or you’re… they’re asking to actually buy a package from you, or anything like that. They’re just like, one of your friends is curious about yoga, we still approach it the same exact way. So this works for everything guys.

 

01:53          Even if, like so… cause even then we’re kind of kind of selling it in a way that we want that person, whether it’s a friend or family member, to actually practice, we have to be persuasive enough or get their interest piqued enough, so that they’re willing to step into a studio, step onto their mat, and change their lives. Right? So that’s really the key. And so, regardless of whether it’s… you’re literally trying to sell them a package or sell them into your studio or into your training or whatever, the thing that you’re offering is… or you’re simply just having a conversation with a friend, it’s the same psychology. Like, any time, no matter what it is, anytime we go to make a purchase… so this is yoga, this is buying a car, this is buying an outfit, this is buying whatever it is that you’re buying, we always approach it… if we’re not familiar with it, we haven’t bought it before, we’re not… we’re not…

 

02:41          It’s new, we approach it the exact same way. Everybody approaches it… approaches it the exact same way. And how they approach it is, they have specific belief patterns around that thing. And it’s three specific belief patterns. The first… this so… how the brain processes potential purchases, is exactly what I was saying. The first A, this is a vehicle. Right? And what vehicle means is when they look at, well, say yoga, when they come in and say, “Hey, I’m not sure about this yoga thing. All my friends are doing it, and I’m kinda interested in it. What’s it about?” The… what their belief pattern is, “Will yoga… does yoga actually work?” Right? Does yoga actually work? So it’s a vehicle belief, meaning, does the thing work? If I’m going to… I’m going to buy an outfit, I’m like, “Does that outfit work?”

 

03:31          Meaning, “Will I look good in it?” This isn’t going to work if I’m going to buy a car, does this car actually drive? Right? Does this car actually work? Is it gonna? Is it gonna achieve what it says it’s gonna do? And so if somebody is coming into a yoga studio, they’re like, does this yoga thing work? Right? What is this like? Tell me about this yoga thing. Right? And so what we tend to do as people that have practice forever, so your friend comes up to say, Hey, talk, kind of interested in the yoga thing. I know you’re, you’re a yoga teacher and you do yoga all the time. Talk to me about it. What they’re really kind of diving into in the beginning is their belief pattern around the vehicle. Does yoga work now what we do on the other side as teachers, as people that are in it, like we know it works, we’ve done it our whole lives.

 

04:16          We love it. We start talking about details, about benefits, about we throw technobabble like so if for instance somebody comes into my studio and they say, Hey, mentioned yoga, right? What I did in the past was, Oh, you’re going to love it. The heat is this, and then we do poses that create this and these poses work this and then we do these posters over here and the works this and a bunch of technobabble and I used to even throw out some Sanskrit credit and some other terminology that they’re like, I have no idea what you’re talking about. Right? We tend to miss when we were in the beginning of the emotion that we felt, how amazing we felt, the epiphany we had that, Whoa, this is incredible. And then we get into the logic where we start to study it so much. We dive so deep into it that we understand all the technobabble up dog and down dog in myofunctional methodology and all of the things that are in a class, right?

 

05:12          All of the things that we love about it, the way it makes us sweat, what it does to the last of the muscle, how the build strength and coordination and balance and blah, blah, blah, blah, blah, blah, blah. All of us. That stuff. When someone’s brand new, that’s like, Oh no, I knew what you’re talking about. All right, I’m going to go over here and keep pushing weights or keep running or doing my other thing. Right. They get, it gets lost in translation and I’ll get to the solution just a minute, but the next thing, so if we get past that vehicle or they get past the vehicle thing where they come in and they’re like, well, all my friends are doing it. I see it on TV. I see it all over the place so I know it works. I know it like yoga is legit.

 

05:48          Will it works for me? Right? The internal belief is can I drive this vehicle? All right, I know that car that I want to buy actually works drives, right? It’s sporty, it’s fast, it’s, or it’s a truck. It’s tough, but can I drive it right? Looking at Lamborghini, it’s really sports car, but do I know how to drive it? It’s probably a sensitive state, right? The internal belief comes down to there. The belief, uh, that they’re able to do it. Not that it works. I, they’d gotten past the vehicle already. Now it’s an internal belief. Can I do it right? So the next piece of it is if I step into a yoga class, am I actually going to be able to do these poses? Am I actually going to be able to do this practice? Right? Do I have the body type for it?

 

06:33          Am I strong enough? Right? All of these internal ideas, right? Do I have to be like a dancer and be super flexible and be able to straighten my leg and do all of this, touch the floor and do all of this stuff? I don’t know if I can do that right? That’s the next level. Like am I able to do it right? Do I believe I can do it right? And again, the way we’re going to jump that right, and I’ll get to it a minute is the same as the vehicle. If they get over the, the internal belief, right? The next piece. So that’s who they got the vehicle. They were like, okay, yoga is the legit yoga actually works and I believe I can do it right. I’ve maybe a friend of mine is just like me, is the same body shape and the same thing and he does yoga all the time.

 

07:15          And, and so I had this, I had the belief, I know I can do it. The next is an external belief. Do I have the time, the resources, the support from a spouse? Am I able to pull the external resources that make this a reality? Right? So the next thing, if I’m coming to the yoga studio, I know that yoga works. I believe that I can do it. Do I have the time to do it? Do I have the money to do it? Is am I going to get the support from my spouse or my friends? Am I as a man? Am I going to get joked by my friends for going into a yoga class maybe 10 years ago these days? No, you won’t. So do I have the resources to do it right? You know, and so for them it’s like, okay, timing.

 

07:53          What’s my day like? Do I have, do you offer enough class times that I can actually fit this into my schedule? Is how expensive is it? Can I budget it into my budget? All of those pieces like the, is it, do I have the resources? Is it at, can I actually make this thing work no matter what? So again, I’m going to reiterate a point I made earlier. It doesn’t matter if you’re coming to do yoga, it doesn’t matter if you’re buying a car. Doesn’t matter if you’re going to buy an outfit, doesn’t matter what you’re buying. We all go through this process of, through this brain process of a potential purchase. Does it work? Can I drive it? Can I actually do it and do I have the time, the resources, the support from friends and family to be able to make it work.

 

08:34          Here’s the next piece guys. In order to, for somebody to get through these three beliefs, these blocks, these roadblocks from achieving what they want to achieve to buying the car, to doing the yoga, coming in and practicing. There’s a simple way for us to help people get over those hurdles. There’s three major hurdles. They have a belief. What we’re here is with the vehicle, the internal and external. Those are belief patterns. They have a belief that yoga doesn’t work or they have a belief that I’m not capable of doing it or they have a belief of I don’t have the money or the time to do it right? These are belief patterns. Every single belief that you, that I have that you have is held up. Here’s the belief. It’s held up by a story. Every single belief we have is held up by a story, so the solution here on our size comes.

 

09:23          Someone comes to you and says, I’m interested in doing yoga. Instead of saying, well, here’s the benefit of yoga. Yoga is so good, right? Do you, it still is the mind. It allows you to, to be, have deeper awareness is, uh, is it allows you to be more skillful in your relationships, allows this and it makes your body feel incredible. Instead of telling the person all the benefits, we just need to replace their story so that the belief changes, right? Every belief is held up by a story. If we changed their story, right? Meaning tell a story, we can change that belief regardless if it’s a belief around there, the vehicle, the internal or the external. Okay? So how to sell without selling. If you’re a Bruce Lee enthusiasts, like Chris and I are in enter the dragon. There’s a scene where Bruce Lee is on a boat and he’s going to the main Island of the bad guy and that’s where he goes crazy and fights everybody.

 

10:14          He’s on that boat and one guy tries to pick a fight and he was like, have you ever heard of the art of fighting without fighting the whole thing? And he gets the guy to, to sit in a boat. This is the art of selling without selling, right? And this is what’s so powerful about this is if you’re a yoga entrepreneur, you’re in the yoga world. And what we bump up against as yogis is, I don’t want to sell it. I don’t want to be a salesperson. Selling is so it’s hard. It’s like we don’t have to sell. We simply need to be good at telling stories, right? So good at telling stories, storytelling, basic storytelling script. We’re gonna go over this in just a minute, but if somebody comes in and they’re asking, does yoga work? I don’t need to say yes, it does because of X, Y, and Z because of all this feature and this benefit and this feature and this benefit.

 

11:00          I simply just need to tell the story. Yeah. Well, when I started yoga, I was into martial arts and my brother and I were pounding away. We’re fighting all the time. We were, we were hurt all the time. We were, we’re beat up a lot. And we started searching out something that was going to allow us to heal faster and our sister was huge in the yoga and she was like, you guys gotta do a yoga class, and she taught us our first class and then after that class we were like, Whoa, that was powerful. Let’s start practicing more regularly, and we started getting into it more and we realized that the more we practiced, the faster we healed, the faster we healed, the more we could train, and then we practiced so much we were realizing, Whoa, this feels incredible. This is making such a difference in my life, not just my martial arts, but in my actual, my relationships and how I look at food and how I feel about myself and my ability to stay focused.

 

11:49          There’s a story, right? Yes. Yoga works. That’s a vehicle story and same thing, internal belief. I would tell a story around that. If somebody comes in, it’s like, yeah, all my friends are doing yoga. I know it works, but I’m not quite sure if I can do it. Then you tell a story about an internal belief. It could be your story. It could be somebody else’s story. A lot of you have worked with so many people in the years. You have a multitude of stories, so many stories that you could pull and say, Oh, well, this is my friend Peter who came in. He’s a little bit heavier set guy, and he came in and he heard me talking about yoga all the time. He knows it works, but he was like, I don’t know if I can do it. I was like, Peter, come on.

 

12:24          I’ll come into, I’ll go and take a class with you. We’ll do it together. And Peter tried it and he got out of class and he was like, Oh my gosh, this is amazing. I’ve never felt so good in my life, and it changed everything for him. He came a couple more times and he was hooked. He realized you don’t need to have a crazy dancer’s body. You don’t need to do all these crazy gymnastics in class that it’s, there’s a deeper aspect to it that’s so much more powerful. Testimonials. Guys are so powerful. When you talk about other people’s stories, people that you all have worked with, that you’ve changed their lives. People are like, Whoa, he’s not just telling me his story, obviously. Yeah, he, he’s a yoga teacher. He probably grew up being able to do press-ups and handstands and stuff.

 

13:07          Oh, the someone else’s stories. Somebody that’s like me, they’re coming in and actually getting benefit from it. They didn’t think they could do it and they’re coming in and practicing law. That’s so powerful. Testimonials are huge. Huge, huge, big, big, big. And then obviously external belief. Right? Externally it’s going to be time and resources and you know, it’s a, it’s one of those where you’re like, yeah, my so-and-so didn’t have time either or they didn’t have money and they realize that to not do it, I’ve made there. They had to spend that money later on because their health was deteriorating or something was going on in their bodies and [inaudible] but instead they dedicated themselves to a practice and realize, yeah, over the long run I’m paying for yoga, but it’s making a difference where I don’t have to actually fork that money out to a doctor later on or something like that.

 

13:49          You know, you also have the stories of the external belief. How have people made it affordable for them and what’s the benefit of them doing it versus not doing it right or, or the time I feel like, well I don’t, I’m so busy, I’m so busy, but like my friend Sarah has three kids and she’s running, running her studio with her mom, a gym with her mom and then, and she’s doing all this other stuff and she’s able to practice on top of it regularly. And that’s where I would start the story. But she also teaches too. So like when, if I were able to tell that story when I would tell that story, feel like, Oh wow, I don’t have any kids. And I just had my job and my dog. Yeah, I can make the time. If Sarah can do it, I can do it.

 

14:31          You know, let’s say it’s so telling stories and not saying, no, you have the time. You just have to do this and this to say, no, I got a friend of mine that blah, blah, blah, blah, blah. And they’re like, ah. It breaks their false beliefs. So you see what I just do. You move those simple stories and I was just shooting from the hip with it. But even those simple stories, somebody comes in with a belief, a belief that is held up by a story. I’m so busy, I don’t have the time. We don’t have the money, I don’t have the resources. And you just change that story with somebody else’s story or your own personal story and all of a sudden it starts to break their false belief. What they thought was a true belief was actually a false belief. And we’re just breaking it through storytelling, through testimonial.

 

15:09          Now a simple way. Here’s this and this. We’ll finish with this. I am going along. I like to talk. A simple way of structuring a story is this. So this is basic storytelling script. Chris and I will do another training sometime when we’re going to go, we’ll go deep into storytelling and really break all of these apart because there’s multiple levels to it. But we want to keep this simple for today. So you guys get some good information that you can take right away and say, okay, let me plug this in. Let me start working, storytelling and start making a different. So basic storytelling script number one is the struggle. All right, so when I’m telling a story either about myself or somebody else, I’m going to start with the struggle. The a a master at this as Quintin Tarantino, if you ever see any Quentin Tarantino’s movies, he starts, a lot of times he’ll start it kind of in the middle or at the end of the story where it is crazy high drama, crazy struggle, create like you’re like, Oh my God, how did that person get there and why are they holding the stick of dynamite?

 

16:01          Oh my gosh, this is so crazy. You know he does a whole high drama and then he backtracks and goes chapter one, chapter two, chapter three, and you start to see the story unfold all the way. That point of high drama, right? He’s a master at it. But you’ll notice in a lot of movies they’ll open up the movie with really high drama or really like the struggle. What’s this? The main character going through. They’re running on a train and they’re like, the cars behind him are exploding. And I’m like, Oh my God, how did she get there? And then they back up and start to tell the story. So you want to go into the struggle immediately, right? Because that catches people like, wow, why are they struggling with that? And then can talk about the search for the solution. The search for the solution is, how do they get to that struggle?

 

16:40          They got to that struggle, right? It’s the story of like, okay, I’m, I’m in this place and now I gotta figure this out. Like what is the solution to this? You know, I’m bumping up against this wall and there is a way for me to get around this wall, right? My friend had start off the story like, yeah, I have a good friend of mine. He had to compress distance low back. And so he had to get surgery. And when they did the surgery he thought, okay, this is gonna make me feel better. And after the surgery and after he got over and started healing, he realized I’m not, I don’t feel better. I got to find a way to like get out of this pain. Like I am too young to be immobile. I’m too young to be in this much pain. So I gotta start to F I got to find something.

 

17:21          And so he went on the search, he came to me and he asked, Hey, think about this yoga thing and you know, I just had a low back surgery. Like you think this thing worked for me? And so I’m actually going into it. So that’s the search for the solutions. We find the solution I friend is search for, okay, I’ll try this yoga thing. And they find the result dedicated myself to yoga, had low back surgery. I could not move. Even after I healed, I healed up from the surgery. It was supposed to, I was supposed to not have pain and I still had pain. And I thought, Oh, okay, now I just had this surgery and I went, talked to friends of mine and realize that yoga could really make a difference. And I started practicing and after I got consistent with it and after just a few weeks, I started feeling such relief.

 

18:06          After a few months I wasn’t in pain anymore and it just radically changed my life. Right? There is the result I, that’s what happened. I practiced a bunch and now I don’t have pain. Here’s a transformation. Along with being out of pain, I realized that what I was learning was to understand myself on a deeper level to move into what yogis call pure awareness. This, this place where you start to be able to see colors are brighter and you start to, to pay attention to your kids and your wife. And, and what I realized after practicing for a few months and doing this, not only was I had a pain, but it radically changed my life. My relationship with my wife is better. My relationship with my kids is better, my work is better. I can focus, I don’t have to drink as much caffeine. I’m I, my body feels on fire.

 

18:54          I feel better than I did before I even had back pain. So this, it shifted everything. So that’s the transformation of like, okay, that result happen. You did yoga and got out of the pain and your back. But what’s the deeper level? Right? It’s that it’s the shift that happens. It’s a shift that happens that we don’t expect, right? So there’s always a result. We get to the key, but then there’s a deeper level. It’s like Disney movies are really good at this. Or like kids cartoons are really good at this. It’s like where like if you ever seen cars, right? Son loves the movie cars in our cars. Lightening McQueen. At the very end, he wanted to win the piston cup. And so he, he went and got sidetracked. And that was the struggle. And he was like, I got to get to race and the piston cup.

 

19:37          And he was stuck in a town and eventually he, he made friends in. Eventually, he got a mentor and he taught him how to race differently. And so he went to the piston cup and, and he was going and going and winning and, and then the King, one of the old drivers like wrecked and flipped and flipped. And he was on the, on the side. And then the other, a guy that was racing was right behind him and he, and Quinn was about to win the race. He’s right up on the finish line when he stopped two inches before the finish line and he turns around and he goes pick up and picks up the King, right. And starts to push him across the finish line. The other guy went across the finish line, wins the piston cup, and he pushes the King across. Right.

 

20:15          So this is like, he almost got the result. He didn’t get the piston cup, but what gives everyone goosebumps at the end was a transformation that happened from it, right? He transformed his entire being because, and this is so, this is what happens with our stories. We want to talk about the struggle, the search for the solution. We want to talk about the result that we, that that happen. But then the deeper part of that is transformation. And it’s important to keep these, you know, obviously, you can’t talk to someone for 20 or 30 minutes unless they’re sitting down and having lunch, lunch or dinner with them and you’re like, no, I’ve got plenty of time. I’ll tell a giant story for, and they’ll get engaged and we’ll have a good conversation. But if somebody is coming into your studio, you don’t have 30 or 40 minutes or an hour to talk to that person.

 

20:54          So you want to keep your story, your story condensed. Now they’re the key. And what’s cool about this framework, guys, is that you can do this framework in two minutes. I can tell the two-minute story or I can tell that story like I just did a tell, told a story. I think that’s probably a five-minute story. I can lengthen it by simply just popping in details. I can take a two-minute story, make it a 20-minute story or 30 an hour story, a two-hour story. But if I was speaking from stage and I had to tell a story like that, I could lengthen it to 60 or 90 minutes presentation if I needed to. Right? So our stories can lengthen or shrink depending on who we’re talking to them when we’re talking to, but the concept stays the same. We want to shift people’s belief patterns so they’re not stuck in the vehicle.

 

21:35          The internal, the external. We want to tell people stories that take their belief in their old story that’s holding that up and we’ve replaced their old story with the new story. It could be ours, it could be somebody else’s, it could be a testimonial story. But at the moment we shift that story, their belief changes and that my friends is the key to not only storytelling but it is the key to the art of selling without selling. So I hope that helped plug it in right away. If you’re offering your services to somebody, you’re, you’re trying to make a living doing this stuff and whatever it is, yoga, maybe you have other things on the side. Maybe you want to talk to your employer about getting a raise. Same exact thing. Use storytelling to do that work. So anyway, thanks for hanging with me and we’ll see on the next one.

 

22:22          Yes, Thanks for listening. We hope you enjoyed this episode and be sure to tune in for the next one. Thanks. Peace. Thanks. Yes, thanks so much for listening to Yoga Entrepreneur Secrets. Do you have a question that you’d like us to answer raw and uncut on the podcast? If you want your questions answered, all you need to do is head over to Apple Podcasts, and do three simple things. One; rate and review telling us what you think of the podcast. Two; in that review, ask anything you want related to yoga, and three; if you want to shout out, leave your Instagram handle or name and that’s it. Then listen in to hear your question answered Live, raw and uncut. Join us next time on Yoga Entrepreneur Secrets Podcast. Thanks.

30
Oct

Th 3 Best Things You Can Invest In – Part 3 with Brad Gibb From CashFlow Tactics

cashflow tactics ryan

What Is This Episode About…

In this episode, John and Chris will share the last segment of their 95-minute interview with Brad Gibb of Cashflow Tactics, where they talked about the core four, which are the foundational financial principles that we should run all our decision making on in terms of what and where to invest to get the best odds of the results that we’re looking for.

You’ll wanna listen to Brad on this one, because everything we’ve been taught about achieving financial freedom and building wealth has been very misleading. Enjoy!

Key Points Discussed:

  • Understanding the concept of taking higher risks to get higher returns (02:08)
  • The blind squirrel phenomenon and the worst part of a financial advisor (07:37)
  • Helping people realize there’s another option that has never been presented (12:08)
  • Learning the right process to get there (14:54)
  • The most damaging financial books ever printed (18:37)
  • The three greatest investments that you can make (20:23)
  • Money is a tool and freedom means control (23:16)

 

Learn More About The Content Discussed…

Join The Facebook Group –> http://bit.ly/yogaentrepreneur

When Was It Released…

This episode was released October 30, 2019

Episode Transcript…

23
Oct

18: Take The Financial Red Pill with Brad Gibb From Cashflow Tactics – Part 2

brad gibb cashflow tactics

 

What Is This Episode About…

In this episode, John and Chris will share the second part of their 95-minute interview with Brad Gibb of Cashflow Tactics, where they talked about the definition of financial freedom, what that really means, and how to attain it. 

They’re also going to talk about how to completely change the rules of the financial game while also posing the question whether a ton of money in your retirement account can change your reality tomorrow. You won’t wanna miss this one. We are going to go deep into what financial freedom is, how most people think about it wrong, and how you can still live an enjoyable life while pursuing financial freedom. 

Key Points Discussed:

  • Is putting money away in a retirement account equal to financial freedom? (02:15)
  • Financial freedom means not being reliant on waking up and producing for your income (04:19)
  • 401Ks and whether they can be a vehicle to help us be financially free within 10 years or less (07:04)
  • Does money equate to financial freedom and being in control? (13:47)
  • Creating financial freedom at an entirely different level (17:34)
  • Investing in yourself until you know what to do with your money (20:487)
  • Money and finance is a skill set that needs to be learned just like any other skill set (26:29)

 

Learn More About The Content Discussed…

Join The Facebook Group –> http://bit.ly/yogaentrepreneur

Learn more about Cashflow Tactics

When Was It Released…

This episode was released October 23, 2019

Episode Transcript…

Disclaimer: The Transcript Is Auto-Generated And May Contain Spelling And Grammar Errors

 

Speaker 1:          00:00 Hey, we are super excited for this episode. This is the second part of the interview with Brad Gibb. And… and today, what he’s going to reveal. What? Wait for it, wait for it. He’s going to reveal how to achieve financial freedom, and this is the hint; does not take millions of dollars, or multiple decades to achieve it. And then what else Chris? Well, we’re also going to talk about the reality that if I could give you a check for $100 million, $1 trillion, I don’t even care the amount of money, it… unlimited numbers of zeroes, and deposit it into your retirement account, it would not change your reality tomorrow. Last thing, as if that wasn’t enough, is how to completely change the rules of your financial game. We are so, so excited for this. Let’s dive in.

 

Speaker 2:          00:42 What’s up everyone? You are listening to Yoga Entrepreneur Secrets. I am Chris Yax, and I’m John Yax. We are part of a small group of yoga entrepreneurs who are committed to making a living, doing what we love, without feeling guilty about making money, or ashamed of being successful, because we know the real value of yoga and how the world needs it now more than ever. This podcast is here to teach the strategies and tactics so we can thrive financially as yoga entrepreneurs. We are the Yax brothers and welcome to Yoga Entrepreneur Secrets.

 

New Speaker:        01:13 Awesome question. I want everybody to think about that for a minute, pause, and you guys can think about like, define financial freedom, right? Most people tie financial freedom to net worth. Right? The amount of money that they have in their possession, and they can put on a balance sheet. For me, that has zero to do with it. I was financially free before I ever made six figures, and before I ever had a net worth of $1 million, I was financially free. Because for me…

 

Speaker 1:          01:38 How is that possible? Because in my… like, what I’ve been taught, and what I’ve been like, up till now, literally up until May 25th, my understanding of like financial freedom was, put money away in a retirement plan that is based in stocks, and it will eventually compound, and you will then at some end point be able to take that money and never work again. And when you put it in, it’s tax free, but when you take it out, you’re taxed. Somehow that like, the government still get… like there… so, there’s… it’s what we’re calling…. So I’d love you to unpack that a little bit.

 

Speaker 3:          02:15 Yes. So it’s… it’s… again, it starts with setting the right target. Let’s go through this thought experiment. If I could write a check again with as many zeros as you want, and like we’re all in our thirties, how old are you guys. 39. I just turned 38. So for us especially, if I could write you guys a check with as many zeros, I can’t. I’d love to, but I can. But if I write a check with as many zeros as you guys need to be totally financially free, but then I deposit that in your retirement account. Is life any different tomorrow?

 

Speaker 1:          02:48 Not even a little. No. Not a bit.

 

Speaker 3:          02:50 It feels really good to open up your account balance, but can it impact your life tomorrow? It can’t. Because what do we really want out of that account? We don’t want a big account balance. What we want it to do is to translate into income, and replace the income, because most people want to stop… have the ability to stop whatever it is that’s creating income in our life. So, we don’t want savings, we want income. And we’ve been taught that we need to accumulate, and then we’ll translate it in some magical way. If you want a funny thing… have you ever watched the cartoon South Park? Google’s Underwear Gnomes? And, watch that, because they go through it. It’s like this whole business plan of, we’re going to do step one, and step two is… and then step three, we make a bunch of money. That’s… There is no step two in this process of how does this accumulation of capital somehow turn into income.

 

Speaker 3:          03:47 So we just cut the whole middle out, and say financial freedom, and I’ll… I’ll bring my screen back up for those that are watching live, or I mean on the… on the video. Financial freedom is when your cashflow from your investments, from activities that are not… we’ll get into this later. There’s no such thing as passive income, but income that is not directly attributed to your current active activity, when that exceeds your expenses, you are financially free. Agreed? Yeah. Yeah. Because and, financial freedom means I’m not reliant on waking up and producing for my income. This has nothing to do with net worth. This has nothing to do with how much money you make. It just we community like these two sides of the equation create more cashflow or manage our expenses. And as soon as this assault, I’m, I don’t have to wake up and worry about money anymore cause it’s take care.

 

Speaker 4:          04:42 It doesn’t have to happen when I’m 59 and a half years old.

 

Speaker 3:          04:45 And then to our point, anybody following the right set of principles that are focused on the most effective ways to create cashflow can do this in 10 years or less. This is the mission of Cashflow Tactics,

 

Speaker 4:          05:01 financial freedom, cashflow, exceeding expenses in 10 years or less. That’s the mission of Cashflow Tactics. Yep. You have to be a business owner.

 

Speaker 3:          05:10 You do not have to be no. But what we will teach you to do, and this is the cool connection, you have to be entrepreneurial with your mind. You cannot accept the, someone else will come save me. Someone will care more. Somebody is smarter than me. Somebody knows what I need more than I do with your mind. That’s an area that the life you cannot turn over. So we’re teaching you to take control and responsibility of your, of your money in your capital. It doesn’t mean do it all. I don’t do all the things in my business, right? But I understand it. I know it. I control it.

 

Speaker 4:          05:43 Right? So Brian, let me, let me stop you for a second. Cause I think, uh, some minds just got blown. Um, well listeners, um, so what we’ve all been taught to do, whether you’re an entrepreneur or not, is to invest in either a 401k program or an IRA, simple or golf or whatever, uh, and continue to put money in that until it builds up enough to, I get to the end of this working career time where I can start to live off that, right? It start to take money out of it and use that as my, my income. So explain for our listeners why that is so dangerous by that. So not what you like the opposite of what you guys are teaching and the reason,

 

Speaker 3:          06:27 Oh man, where do I start? Cause there’s so many reasons why this just fundamentally doesn’t work. Okay, I’ll start with this. I don’t have a problem inherently with 401ks. Okay. And you guys are like heresy cause you just spent yesterday bashing up yesterday. I bashed up a lot. We’ll do 401ks work. I have to say yes because you will have more money. I believe just about everybody that participates in a 401k w at the end of their retirement, they’ll have more money than they put into it. That’s good. That’s irrefutable, right?

 

Speaker 4:          07:02 Unless the 2007 happens again. But yes,

 

Speaker 3:          07:04 correct. If you, if you, they CRE they designed, cause if 2007 happened three years saying, well don’t worry about it. You’re in for the long run in no recover. And that’s probably true. Right? So over a 40 year participation in a 401k account, you’ll have more than you put in. But where I have issue with it is does it accomplish our goals and our outcomes? Can a 401k be a vehicle to help us be financially free at 10 years or less? No, never under any set of circumstances is that attainable? So that’s why I dismissed a 401k. Right. Does a 401k make it so I pay the least amount of taxes possible. No, actually pay more taxes when I use the 401k account. So I don’t want to use it from that standpoint. Do I have control over the capital and the investments and the outcome?

 

Speaker 3:          07:48 If I’m not getting what I want, can I influence it? No I can’t. I’m not going to use that account. Right? So we go back to these sets of principles that we operate in it for those that for anyone that has ever been financially successful enough to be financially independent before the age of 65 has followed a certain set of principles. Then after we teach the 401k violates all of those. Okay. And then the last part about it, and we can get more tactical. You guys just guided me, but the other part about it then I have, the other issue that I have is no matter how much money you have set aside and accumulated, if you have [inaudible], if your retirement has looked like this, accumulating a balance of assets and then you’re supposed to let go of all of everything you’ve done for the last 40 years, all of the programs security you have around a paycheck and then start drying this account down.

 

Speaker 3:          08:44 You will, no matter how much you managed to accumulate, you will be in scarcity from day one. Cause anytime you are withdrawing and seeing that net worth balance go down. Do, does any of us know how long we have to live or how much it’s going to cost us to live throughout retirement? Yeah. So there will always be a question Mark of will this last, am I not taking too much? And you will be programmed to take the least amount out. So you spent 40 years living in scarcity around trying to spend the least amount possible, defer all of your gratification and live into the future. And then if you’re successful and you do actually retire, you’re going to spend retirement doing the same thing, trying to live out all your dreams that you deferred while you were working on the least amount of money possible just in case so that it lasts long enough. It’s miserable even if you’re successful.

 

Speaker 1:          09:41 Yeah, totally. It’s funny, like in yoga we talk about like living fully in the present, living fully in the present and what gets set up in the financial world is wait to live until when? Until you retire. So that when life starts like, and what’s so fascinating to me too is when we started getting into the Academy, the training videos, the majority of the videos in the beginning, we’re not tactical. They didn’t tell me where to invest. They didn’t tell me like what you’re gonna do not do. Like what’s all for, okay. What’s like right with real estate. It was like, it was more about self development

 

Speaker 3:          10:16 and to how we got ya. It’s about self development wrapped in, Hey you need to go and do these poses. But ultimately it’s everything is, sorry I cut you off.

 

Speaker 1:          10:26 Exactly right. And I guess we loved it because that’s our world. We have our desires to help empower people to live their best lives through this practice of yoga, through meditation, through that conscious movement, through and then first like for people who are listening to this who have now fall in love with that so much that they now want to offer that to others. Right. And it’s not, the whole premise behind it is to be able to live fully. And so what was so like, I have a question that’s coming on this limb, but the first thing is that what was so aligned with us as far as like yoga entrepreneurs is it was giving us the freedom to live and the tools, the tactics, the understanding, the strategies. This literally like we’ve taken a red pill to see this whole new paradigm that brings the present into our grasp in terms of what it means financially to live fully in the present and to regain control over something that has been taught my entire life to give it to somebody else who knows that.

 

Speaker 1:          11:25 Why would you ever know like the finances and the markets and never learn and why would you ever want to try to figure it out? Because there’s smarter people than you. They’re going to tell you what to do and what this does. It’s very empowering is my point. How did you come, like was it just through you living the process that you realized, wait, we can’t go to why most people want us to go and tell them like, okay, what real estate should I invest in and what is like what are the mechanics of the

 

Speaker 3:          11:54 cash on cash and was that just born from your own experience or was that like or yeah, what, what point did you realize people need personal development before we jump into the bigger stuff? It ultimately comes out of, and you’re right on all those accounts. Like it’s so interesting that, but you guys are in the world of empowerment and so are we. Your vehicle is yoga. Mine’s money. We’re doing the exact same thing. You’re just using yoga and I’m using mine. Does that make sense? I got hope. Everybody listening really like makes sense of that. And Stephen Larsen with offer. Mine is doing the same thing. He’s empowering you with with business systems and marketing systems. It’s all about empowerment. But the one area of life that still remains very, very protected is, is the area of money that we, we can be empowered with. Money. Money is one of those couple of topics that’s just off the table. Um, so you know, to be able to ever do that and that’s what we’re out to shift and change. How did I get there? I think it’s a combination of a couple of things growing up on a farm and being in a very free environment definitely seeded some of that for those that, I know you guys are into personality tests at all, like [inaudible].

 

Speaker 3:          13:03 So it seems like every, you know, you’re in a good mastermind group if they give you a personality test first and say you need to bring this so you understand yourself and how you interact with anybody else. Yeah. So getting into, I was in, I’m in Russell Brunson’s mastermind group and they use the disc assessment pretty heavily there and there’s two components to the disc assessments. There’s the ratings on the DIC, but there’s also a values assessment that underlies that. And it wasn’t until I had a deep dive with a discS expert in that group that something really interesting was uncovered and it’s mirrored me, Ryan and Jimmy. So the three founders of cashflow tactics, we all had one value that did not make sense for the business that we rent it rather it pause for a second. Will you close down the share so I can see you better?

 

Speaker 3:          13:47 Yes, there we go. So the values, like as a money guy, economics should have been my top one like dollars and cents, right? That was one of my lowest. Wow. Political also should’ve been very high where we had Mike authority. I’m in charge. You’re going to do what I say, right? Those two for most money people are the highest driving motivation that leads them into the conversation of money. Those are the lowest for me and Ryan and Jimmy. The highest is whatever one translates to independence or freedom from all of us. So from a very young age, money to me acquainted to freedom, to being controlling, having what I want and the outcomes that I’m pursuing. So as I built, and again it led all the way through, like anytime I got cornered and constrained, I made a shit and I needed to get out of that.

 

Speaker 3:          14:41 Right. With my education, with Goldman Sachs, with, with the other job that I had all the way here to cashflow tactics. So, but the, as I learned and studied and put the elements of money, I was always looking at it from a standpoint of is this investment, does this analysis, does this opportunity make be more for your less frame? It it, I never asked the question of am I going to make money or not? To me that was a given. If I’m not making money in investment, I’m really bad at this. Like it’s not make money or not make money that it should always be make money or why am I involved? Right? So it was does this get me closer to my outcome of freedom or not? And that’s how I was able to become financially free before ever making six figures or being worth $1 million is I lined up every single decision to move the needle toward being more financially free than I was before and we shortcutted the process and eliminated everything that doesn’t line up all the things that actually move the needle to get us there. And that’s how, that’s how we ended up putting this together to where we can be financially free in 10 years or less if we just do all the things that make us free and none of the things that don’t, it has nothing to do with making more money or not. I ends up that way. And you guys now see it in the process we’ve taken you through, right?

 

Speaker 4:          15:53 Yeah, absolutely. And this is one, I think this is what we our minds most is is that the common understanding is that to be financially free, you need to make 10,000 a month, 20,000 a month personal take home or $1 million or 2 million or 10 million depending on whatever lifestyle you want to have. And the reality is, and we’ll talk was if you simplify it, what are your expenses? What’s your cashflow? And make one of those bigger than the other.

 

Speaker 3:          16:21 And the interesting part about it though, and this is where I love coming back into the entrepreneur side and the side of production, like I don’t have to cut my accent. There are people out there that can get you financial grants, tenders in Alaska, they’re your eat rice and beans you’re getting, we’re just going to reduce the expense side. I don’t, we don’t live come out a place of scarcity. Like anything you want to me like you guys already know this from my addiction and this life is horsepower and it’s like, it’s very expensive to have a horsepower addiction. Like I want to start like a foundation for those [inaudible] nonprofits. But to me, those things just become carrots. They become the incentive, not for what they are. But I know that if I want to do those things, I first have to take care of like I have to go through and I, yeah, my family comes first and I have to grow my business.

 

Speaker 3:          17:13 I have to add value so enough other people that they give me money. And in order to get that I have to add value and not like I have to, I give a lot to charity and I made sure those around me and taking care of him only if after I’ve accomplished all of those things do I then still have money left over and I get to go enjoy those types of things. So I won’t lie in people’s lives out the same way. So it’s not about reducing expenses, it’s about understanding the principles around creating the most cashflow we possibly can. But where I wanted to go with that was once you hit it at a very minimal nominal level, like my first declaration of financial, I look at it and I’m like, I spend more than that in like a day sometimes. Now it’s laugh like it’s, I’m my financial freedom number now is 10 or 20 X that. But once I hit it the first time, the entire rules of the game change because now once I hit it, I was like, I’m gonna have to go to work tomorrow. Do I really want to go to work tomorrow and if I am, what am I going to do on there? Like the entire rules of the game change of where I get to spend my time and thinking and deciding and

 

Speaker 3:          18:22 have you’ve ever been Kiyosaki’s game of Castro? Like when you exit the rat race, the literal rules written for the board game change, you pull out a different set of rules and you play by a different set of rules. The same happens financially and every time I pull out a new set of rules and see how the world works, it’s like Holy crap now. Now I can create financial freedom at an entirely different level. I didn’t even think was possible, but I couldn’t see it until I created it. I love it. One,

 

Speaker 1:          18:51 you’ve literally, you’re changing. Like what occurred to me over the last couple of weeks has been I’m not, I’m playing a different game. Yes. I have literally exited out of the game that I’ve been taught to play and which doesn’t give me control. It doesn’t increases my risk. It increases the taxes, I pay it like and all the sudden, but what, so I’m now like, it’s like I literally, I always think I’m like I’m taking the red pill. I’m like I’m seeing inside the matrix I see zero ones everywhere. That’s all I got. But so hearing all that and like hearing like your take on the stock market and would like this different way of looking at financial freedom. It’s so counter to what the mainstream philosophy is. Like how and so [inaudible] not to mention we have advisors, right who are in within the game that they’re playing or giving us sound advice that makes sense for what success and freedom means within that game.

 

Speaker 1:          19:54 So just a personal story like I’ve been like going through the process and I’ve like I had to talk to my financial advisor and I am like defunding my IRA so that I can be financially free. Harris, Chris going to get some comments on that please. It’s okay. I’ll be fine. You’re, you guys are good. Wait. Yes. Yeah, exactly. And it’s okay for you to think I’m crazy. Just just watch is what I’ll say. Just watch and I’ll, and I’ll just document it the whole way, but it was so in this conversation I had with my advisor, he was aggressive in like, no, the path you’re going down is the enemy. It’s the wrong thing to do. You’re like, this is not, I cannot more strongly advise you against this. And it shook me in my the, in all of the things I’ve been learning, everything that I’ve been, that I’ve, I like

 

Speaker 3:          20:48 that I see as an example within mentors within you and Ryan and it was Jimmy and all the people that are in the community who are doing it and like they’re successful and they’re becoming like they’re on the path. And I guess my question is how in that situation would you have coached me to handle that situation? Awesome. That is such a powerful conversation because I like this question so much, so much more than Brad. I got $10,000 what should I do with it? Like this is a much more powerful question because I guess said to be empowered, you can’t ask the question, what do I do with my money? If you’re asking the question, what do I do with my money? What’s exposed is that you don’t have enough financial IQ. So the answer is invest in yourself until you know what to do.

 

Speaker 3:          21:33 Then you start asking questions of how do I get this outcome and who do I need to connect with to give me that outcome. Those are the questions of, of people with a high level of financial IQ but not the, what do I do with my money that’s exposing your level of financial IQ. So this is the powerful question of alignment, right? The first thing I would have asked about this advisor being mr aggressive is I say Chris and John, look at this advisor. Do you want what he has financially? What’s your answer? Nope. Nope. Is he financially where you want to be? No. Is his track that he is personally on one. You want to be following in his footsteps? Okay. So why are you asking this guy advice?

 

Speaker 3:          22:17 Cause I’ve been conditioned to cause he very been conditioned to, right. We’ve been conditioned and this goes back to the conversation at the beginning of college and degrees and education and the mentality that we have to break away with. Again, college is good. If you walk away with a skill that you can’t be conditioned there. He has more letters after his name than you, right? Yeah. It took more tests that tell him he’s smarter than you. Yes. That’s what he’s holding over you. So he knows the vehicle of a four to one K better than you do. And that vehicle, if you participate in it, we’ll have more money than you put into it. So he could hold inside of that frame, some leverage over, but he is not financially free. Okay. Would you ever take a yoga class from me? Nope. Thank you. Good.

 

Speaker 3:          23:03 You do yoga and I like yoga. I’m not the one to take honest as yet. There’s some you haven’t told was bad. No. And so, but I would take yoga classes from you because you’ve done it right. So here’s a guy trying to give you advice in an area that he has not played. Is he an entrepreneur? Nope. Has he made an investment in a bet on himself ever since college? No, probably not. Right? Does he have cashflow in his life? What is his tax bill look like? What are the things he’s trying to do with his money? He’s collecting his paycheck and funding his accounts and then that’s it. So he does not have the ability to give you the advice that you’re looking for.

 

Speaker 1:          23:46 That makes total sense.

 

Speaker 3:          23:48 Now we can go down the road of all the reasons why what he’s telling you is still not going to get the outcome, but it fundamentally starts with he is trying to [inaudible].

 

Speaker 1:          23:56 Yeah. This has been the biggest game changer for me. Is the financial IQ increasing that to empower myself to have to actually take part in conversations that I had never taken part in or is that in these previous episodes, John and I, we you’re talking about our money issues, talking about growing up poor, talking about a dad who held strong to his art of like literally like canvas and paint but didn’t understand how to market it and really honestly didn’t have any interest in it and he would always be like there the universe will provide, well it always did at the 11th hour, but that left us in the wake of like poverty. We’re, yeah, we’re broke and I’m short free 10 now. He was, he’s been meditating this whole year his whole life, but it would be down to the wire over and over again. Six kids. We grew up with six kids in our family and it would be normal. So I have hope, okay, be good.

 

Speaker 1:          24:46 And it would be right about like a week away from Christmas Brad and he didn’t have any money to buy the by presence. Inevitably in that week someone would say, okay, I want to do a commission and here’s a three, pay this money money up front. But it was living a life like that and it’s always down at a lot. Yeah. So I guess my point is like we’ve been having this money conversation and it’s funny cause I’ve understand the scarcity mindset, the poverty consciousness that I’ve actually outgrown. But what also happened in that was I hadn’t taken the next step of leveling up and actually understanding too, cause there’s always expansion, there’s always evolution. And I was like up until very recently it was like okay I’m, I understand the nature of money as energy and like it follows the value that you can provide for somebody and if you saw a big enough problem then it’s going to come to you.

 

Speaker 1:          25:34 And like if you have the right mindset, you do the work and you all the stuff that I know to be true. But there was this next level of understanding of what is financial freedom. And this is what’s really interesting. And I don’t believe in coincidences only synchronicities is that John and I, when we write our goals down, we’re very clear about what it is that we want to accomplish. And the, the specific phrase that we have had on this goal setting list is financial freedom, financial freedom. And when we saw the tagline, financial freedom in 10 years or less, and you can see that for like three and a half hours to like completely change our reality, it was like, Oh, this is it. This is the direction. But it goes back to having the target, understanding where you want to go and then, and then being willing, two, spend money on yourself to develop yourself as human being as a person so that you can grow into the person and the goals and the reality that you want to live in.

 

Speaker 3:          26:29 But what I want to point out what you just said is money and finance is a skill set that needs to be learned just like any other skillset, right? You had to learn Joe GHA good first. Now you’re trying to learn marketing good, right? And business skills. Good, but you need to learn money skills good as well. And I’m saying good on purpose. I know that’s not grammatically correct to make the point right. We have to learn this set of skill set to match and increase along with the other places that we expand in our lives. And that’s what like we’re trying to recondition the market or recondition our clients or be conditioned, everybody that comes to us because they just want us to give them the answer. That’s not my objective. That’s easy. That would be the easy route out for me. It would be, don’t ask me any questions, give me your money and let me do my thing and I can make everybody a lot of money.

 

Speaker 3:          27:14 That’s not what we’re here for. That’s not financial freedom because if I got hit by a bus now you’re screwed. Mm. No matter what I did for you, if you don’t understand what it is and have the skillset to be a high enough financial IQ for it and either I’m hurting you because I’m going to get hit by a bus or I’m hurting you because I’m giving. It’s like I don’t give my three-year-old a pair of scissors, not a smart parenting move. Right. The same thing is I don’t give somebody financial scissors to say, yeah, go do all these things cause their financial IQ is not high enough to gauge.

 

Speaker 1:          27:48 Yeah. Um, and I got like a thousand questions that I wrote down,

 

Speaker 3:          27:52 but man, that is very tactical. Are there a couple of tactical things we can give everybody, cause I’m, I hope we did it like financially, but are there a couple of like major questions we know we could just hammer on before again, maybe we do that.

 

Speaker 1:          28:04 Yeah, let’s do that. I think a huge one is for you to go into core four. Awesome. Awesome. That is something that I routinely go back to over and over again because it’s principles, it’s gotten guide decisions. It’s the guideline follow.

 

Speaker 3:          28:20 Whoa. Isn’t that amazing. So coming in the next episode, this is going to be a third part of the interview, this interview with Brad Gib, the final part, the third and final. What do we got, Chris? Well, at the final part of this trilogy, we’re going to be talking about the core four which are financial principles to live by. We’re all gonna be talking about the iceberg principle and the last bit is

 

Speaker 2:          28:43 B, the three best places to invest your money. Yeeees, being an entrepreneur is the best, but it has tons of challenges, right? Two of the biggest are; how to make more money and how to keep more of the money that you do make. Just recently, John and I were at an event called Offer Mind, and we had the opportunity to see Brad Gibb deliver a presentation that just blew our minds. It was called, “How to Turn Business Cashflow into Personal Cashflow.” His whole presentation was designed to teach entrepreneurs like us, the principles of how to make more money and keep more of the money you make. After this interview, we asked him if we’d ever be able to get our hands on his presentation. Well, because he’s awesome, he said yes. And, for a limited time, he agreed to let us give it to you. To get it, all you have to do is join our Yoga Entrepreneur Secrets Facebook group. So, go over to Facebook, and search for Yoga Entrepreneur Secrets. When request to join, you’ll answer three simple questions. Just be sure to leave your best email in the third question, so we know where to send the link. And remember, do the work, honor the struggle, and make the world a better place.

 

16
Oct

17: Take The Financial Red Pill with Brad Gibb From Cashflow Tactics – Part 1

brad gibb financial yoga

What Is This Episode About…

In this episode, John and Chris will share the first part of their 95-minute interview with Brad Gibb of Cashflow Tactics, where they talked about the scariest part of taking the leap into entrepreneurship.

They will also dive into the one thing that holds most entrepreneurs back, what we secretly sacrifice for money, how to find balance in all areas of our lives, and how money can support that. 

The Yax brothers attribute a lot of their current life and business trajectory to conversations they’ve had with Brad over the past few months. This series won’t be your typical financial advice so, if that’s what you are looking for, you’re in the wrong place. However, if you are ready to have your mind blown and opened up to a whole new possibility of money and how it works, then this series is for you!

Hang around until the end of the episode to hear what will be covered on part 2.

Key Points Discussed:

  • How Brad came to be who he is today (03:31)
  • The breaking point: From employee to employer (09:32)
  • Investing in a coach and mentorship to bridge the gaps (16:23)
  • Building a great business and parenting 6 kids (21:49)
  • Being driven through purpose to grow and expand in all areas (25:07)
  • Knowing where you’re going is what enables you to get back on course (28:48)

 

Learn More About The Content Discussed…

Join The Facebook Group –> http://bit.ly/yogaentrepreneur

When Was It Released…

This episode was released October 16, 2019

Episode Transcript…

Disclaimer: The Transcript Is Auto-Generated And May Contain Spelling And Grammar Errors

 

Chris:          00:00          So, what you’re about to hear is an interview we did with Brad Gibb. Now, why we’re saying this, cause you already know that, is the interview went for probably about 95 minutes, so over an hour and a half. And instead of throwing all 90 minutes into one episode, we decided to chop the episode up into three separate episodes. So what you’re going to hear about today, in this episode, is the scariest part of taking the leap into entrepreneurship. The one thing that holds most entrepreneurs back, and what we secretly sacrifice for money, and how to find balance in all areas of your life, and how money can support that. So we are super excited for this episode. We hope you enjoy and give it a listen.

 

Intro:        00:45          What’s up everyone? You are listening to Yoga Entrepreneur Secrets. I am Chris Yax, and I’m John Yax. We are part of a small group of yoga entrepreneurs who are committed to making a living, doing what we love, without feeling guilty about making money, or ashamed of being successful, because we know the real value of yoga and how the world needs it now more than ever. This podcast is here to teach the strategies and tactics so we can thrive financially as yoga entrepreneurs. We are the Yax brothers and welcome to Yoga Entrepreneur Secrets.

 

John:        01:15          Alright. Welcome, welcome, welcome. So, we are thrilled. We are so excited for today’s episode. We have a good friend of ours, Brad Gibb, coming on, and so, a little backstory. We… Chris and I are part of a mastermind group called OfferLab, and back in May, we had the privilege of going to the… to this mastermind, and, during the very last day, they call it the Asset Day, during the very last day, we got a chance to go from table to table, and have a 10 minute conversation with all the coaches that are involved in this mastermind. Well, Chris and I went to one table, 10 minutes later, we were at another table, and then, we finally ended up at Brad’s table. And, when the 10-minute alarm went off, we didn’t move. We are not moving, and another 10-minute alarm went off, and another one, another… we were literally there for an hour, just getting our minds blown. We looked behind us and there are 10 people gathered around us, and listening to the goal that this gentleman was spitting out.

 

Chris:        02:12          Yesterday, I mentioned they had to stop us, but fortunately, we went to dinner that night, and we got to sit right across from him. And he… like, the reason this podcast exists, was from the conversation we had at dinner that night. And, our trajectory right now is like, is influenced by this gentleman, Brad Gibb. And so, I mean like, I’m so excited for you to hear this, because we are… in full disclosure, we’re a part of his mastermind too, called Cashflow Tactics Acceleration mastermind. And, it is changing our world. And, our hope for this podcast, is that what you hear changes your world. So Brad, thank you so much. Welcome to Yoga Entrepreneur Secrets.

 

Brad:          02:49          Thanks you guys. I am equally excited to be on here. It’s so cool how when worlds come together, like, I’ve said stuff about like I can’t, you won’t believe how smart the Yax brothers are about what they’re doing, and their business, and in yoga, and just their approach to life. I’m talking about knife throwing and martial arts, and all the school stuff. So it’s fun that we just, we gotta be nerds in the things we’re good at and then exchange with those that are… That are better than us in other places. So I’m.. I’m excited to be on. Thanks man.

 

Chris:          03:14          Yeah, absolutely. Again, so like, I know you’re humble and you probably won’t admit this, but I know personally like you are the smartest dude. I know everyone in my life and I would just want like to give, like to give the listeners a backstory as to like your education. How did you come to be the guy that you are today?

 

Brad:          03:31          Yeah, so I’ll, I won’t go. Like in the beginning I was a twinkle far back, right? But back. So I grew up very entrepreneurial but didn’t know that that was a thing I grew up on. Uh, my brother is now our fourth generation family farm in the state of Washington. So my dad, his dad, his dad, and there isn’t a more entrepreneurial place than a farm. There’s no instruction manual. And if you don’t do what you need to do, things die on you. Right? And so it’s just like get it done. And so, so I grew up in that, but then, you know, farms can only support so many people and we knew need a lot of labor when your kids, but then only one’s going to stay and take over the farm. And everybody knew that was my little brother that was like, he was, that was his destiny, not mine.

 

Brad:          04:20          So packed up and left him and said, well how am I supposed to go out to be successful? And I’ve heard the same narrative told to everybody else, well, you need to, you need to get good grades and you need to go to good school and get a good education and get a good job. And then that’s, that’s what’s going to lay the foundation. So I did those things that I’m, I’m a little bit competitive. You guys know that. We’ll find that out. But, and I’m kind of, if one degree was good, why not get four? Right? So I got into the world at accounting and then so I got a bachelor’s, a master’s in accounting. But while I was there, instead of doing what everybody else did, like I went to summer school, not to graduate any faster, but so that I could take all the classes that they wouldn’t let me take inside of my major.

 

Brad:          05:01          So I’m actually only a few credits short of an MBA from BYU, from the college. I went to wish BYU, but I also in that process of just taking extra classes because I wanted to, I got a degree in economics and statistics as I went through and did that. So as you can see, I like kind of all things numbers and all things analysis with that anchor in an accounting. So that was my, that route. And then when I graduated I was still making this good job [inaudible] land and really solidify my future. So I fought and fought. I took some pretty massive, at the time we didn’t realize how big of a risk they were in failing hindsight, but I was entering the job market when the economy is nothing down in 2008 and I graduated with no job, no prospects and said I’m going to get a job on wall street. When it was, well he goes a little bit before it was imploding, but so I started with Goldman Sachs in New York city and spent some time there. And so that’s kind of my background from an education and that professional was, I kind of got my start in those two areas.

 

Chris:          06:01          Gotcha. So when you said you worked for Goldman, Zach’s, yeah. And like you, so you were in Goldman Sachs during the 2007 2008

 

Brad:          06:14          yeah. So our building, if you remember, like the big tee off to the whole collapse was Lehman brothers bankruptcy overnight. Right. Solid. When they closed their doors, when they open, their nurses were insolvent and bankrupt and sent everybody home. Our building was next door to their building and that morning I still remember getting off the subway, walking out and then floods of people coming out of Lehman building with box cargo boxes in my hands. So we were like at ground zero and so obviously nothing got done for two weeks. We just sat in the lobby hoping they weren’t going to lock the doors on us at Goldman to, because everything and the whole financial world was in upheaval. But yeah, we had a literal front row seat to what was contributing to it, what was going on, what was being done about it. I mean we had, we had policy makers coming in and meeting with our teams and talking through how we’re navigating all this. I mean it was just one of those just sat there and absorbed amazing Lee. Terrible but an amazing experience to sit there and have a front row seat to that.

 

Chris:          07:17          Yeah, totally. So when you were there, you were an employee for Goldman Sachs and saw the meltdown around you. Did you know the writing was on the wall for you at that point in Goldman or is there some other thing that like

 

Brad:          07:27          I will, that was, and I knew it pretty early. I just couldn’t admit it to myself cause like I said, I have these entrepreneurs seeds in me. I was suppressing and even while I was at college I was, I didn’t want to just take the list of classes they gave me. I’m like, that sounds cool and that sounds cool. That sounds cool. It’s like I designed my own educational path through there. And then while at Goldman, same thing, I was always the one being like, why can’t I go to that meeting? Why can’t I learn this? I want to take this training, tell me how to do this. And nobody pretty quickly, people didn’t like me there and so there was already tension. But what pushed it over the edge for me to say, dye guy, get out of here. Well first off, just the moral side of it.

 

Brad:          08:06          I want to get into like everything that’s there, but we, I just couldn’t do wall street. But a bigger thing that pushed me out was I remember very distinctly sitting in these meetings and in the lobby watching the financial news and I was low man on the totem pole. So I knew I was done. Like if they were caught up, you know, layoffs or cutbacks, whatever. Like I knew I was on the chopping block, but I looked at the person next to me who’d been there three years and he was just as scared as I was. And the person there was five years was just as scared as I was. And my manager’s manager who’d been there 15 years was just as scared and worried as affected as I was. And I was like, wait a minute, this whole get a good job and there is no security in my job, in my profession, even at Goldman Sachs.

 

Brad:          08:52          And so that’s when I was like, well, if I can’t get that out of all of this, then I need to be the one in charge. And at least if I go down, I know that I was, the, my hands were on the wheel. And so that was the shift to say, can I can’t, I can’t stay in a independent of Goldman Sachs. I couldn’t stay in a firm’s structured kind of that way. And so now I’m doing entrepreneur, I need to figure out something. So Brad, with that, that was kind of, so that was the, was that the catalyst, was that like the breaking point when you’re like, I’m going into a my own thing? Or did you, did you after that still search out a quote unquote nine to five or working with somebody or was that, it was, I’m always the kind of person that like I can’t let go of the vine when I’m swinging to the next one.

 

Brad:          09:37          Like I want both of them. And so I leveraged my contacts and my brother also graduated accounting. And so just like you guys, we’ve sort of teamed up and we joined a firm with a very new startup. And so it was just four of us there. And then we quickly stepped into ownership and then we actually split from that root cause. We developed a little different expertise and then within a year or two we were on our own with our own firm. And so that was kind of the process, how it is. We looked for something that had the seeds of I get to bridge the gap and I mean I had kids and a mortgage, I had stuff I need to take care of. And so it was, it was a bridge into it, but in the interviews it was how does ownership work, how do we get in and how do we contribute and and how do we make this, so we were brought in with that kind of that expectation of it. And then you said within then a couple of years we were in fully into our own thing, my brother and I am and one other partner.

 

Chris:          10:31          Gotcha. That’s such an interesting transition because you went from employee to employer. Like from I’m working for somebody to, this is now mine. That’s not a lateral shift. That is an entire like paradigm shift that requires more than just a decision to like pay. But I think I’m gonna my own business. Like what was that like for you and what were some of the, like the struggles that you had or and what like the epiphany’s and I mean obviously you had the entrepreneurial spirit that was being suppressed and maybe it just felt natural for you. What, was there something specific about that that made it more challenging than,

 

John:          11:01          Oh man, like I’ll give credit to my wife on this one. Like she all the way along was the one being like, why are you still here? Like why clearly you’re good at this. You can handle all this stuff. You’ve got to figure out, just just do it already so that you can stop coming home and being miserable and complaining to me like let’s just, we’re in, let’s go do it. So a lot of it was, we laid, we laid a lot of those foundations. But honestly, the scary part about it is the conditioning I had to, I had to get out of my mind around was that one of the most damaging things about a college education, as amazing as it isn’t as important as mine was like I couldn’t have had the technical ability that I needed to start my business because I started my business around my technical expertise in accounting.

 

Brad:          11:44          So our firm, what we did was we became the CFOs for hire to take a company public. So if you wanted to go public, you hired us, we came in, we played your books out and we interacted with your investors, the sec and the entire process to like launch you and take you. And we did over 2000 companies, two dozen public launches with our clients. I had to have an accounting degree to be able to do that, but the thing I had to unlearn was in college you were taught that there’s an answer in the back of the book and you would do the problem and then check your answer. Stepping into entrepreneurship was like, wait a minute, like where’s the back of the book? Where do I check if my answer’s correct, your bank account was the back of the book of sweat and the answer work tonight, you couldn’t find it.

 

Brad:          12:24          So that was the biggest struggle of getting okay with how do I make a decision that I then say this is right, right with without anybody else without any back to the book answer. Does that make sense? Yeah, totally. And then one of the reasons I wanted to ask it is because in the yoga world and even in the business ownership, people who actually have yoga studios, there is a lot of them who still hang on to their other job. They’re nine to five ish or whatever side hustle they have going on for fear of going all in on it. And I to articulate that exactly that mind shift that had to happen in that, that willingness to leap to not have the answer but to go forward anyway. And then you find the answer in. That’s kind of like the in the process in the process.

 

Brad:          13:09          Yeah. It just comes out as you go. And we’ll get to there. And this is why I was so excited to be on here, is a lot of what we now teach with our clients is the process of how does your money match your entrepreneurialness, um, and gives you, cause we’re taught to give away all our money and give away all of our power because we have our job, right? And because that’s the steadfast thing, we flip it around and that’s what I had already started building. So I got to make a transition in a much different position than most people do. I was, I was much more liquid than most people did. I already had multiple sources of income coming in and so it wasn’t going from zero to one on the knots. A lot of what I would teach. So in the transition, now that you’ve got two sources of income and you’ve got a job and you’re still doing your yoga studio, what we need to do is, is just keep that Teeter totter balancing until the value of the job is to where it’s like, you know what?

 

John:          13:57          This isn’t even that important to me anymore anyway. And a lot of it just comes into how to mirror those challenges of an entrepreneur with the money to support that decision instead of actually make it worse, which is what most financial vice does. So there like what you described as you had this expertise that you had to have, right? You had to have that mastery level to move into the entrepreneur space and start your own thing. But then there’s also like in the yoga world is the same thing as like Chris and I got really good at teaching yoga and breaking down systems and putting frameworks around them. And then, but then when we got into actually running a business, we realized this isn’t yoga, this is running a business. Like we studied yoga, we didn’t study running a business. We got to level up our game.

 

Brad:          14:47          Was that, what did you bump up against that and did you seek out coaches and like what did you, was part of your training, your education? Did it help with that? Oh man, that’s, so, mine is stretched out a little bit more. So having an accounting firm is like cut and paste as I can attorneys firm as well. Like the business models there, the structures, you know, decision making. I’d already folded into it like it was literally copy paste and now I can do what I was doing over there on our side and it all works out. So a lot of that, the initial challenges of how do I run a business like billable hours was already there. The pay structure, it’s already there because they’re buying a service that already exists in the marketplace. Right? So for that initial transition it was a lot easier to say, how am I going to like put the structure together?

 

Brad:          15:35          It wasn’t until I left that business behind and started what we’re doing now. A cash was [inaudible] where we’re like, we have to create, I’ll hold something no one’s ever done before in an industry and in a way that is so traditional. That’s where we have run into that over and over and over again. And that’s like every quarter. It’s like you show up to our planning feeling like we just got kicked in the groin. But like taking reframing that as no, these are just opportunities to make our business better. We’re only having these problems be kids coming out of the success we’ve had leading up to this point. But you mentioned that the turning point, like we, the biggest struggle I had in business was not leaving Goldman to start my own because like I said, we had, we had a roadmap for that. That was actually pretty easy.

 

Brad:          16:23          The harder one was shifting out into what’s now Cashflow Tactics and we got almost zero traction and so we wrote a check, you have a mentor. And that was the first investment directly into ourselves and saying, I see a gap and I don’t have the answers and I can’t get the answers out of reading another, another 300 page business book or a personal development book. Like it has to come from somebody that has experienced, have locked it before. I need a coach. And as soon as that was the shift and I, we’re on video, right? I’m going to grab this, I’m going to show you guys what this led to and you guys will relate to it. I keep this in my closet right here to make this point. But this is every tag or conference or program that I’ve gone to since making that first investment. Like the first one is in here somewhere. I think it’s actually this one. Right. But it led to just constant needing to go and find and invest in myself to, to be able to bridge those gaps. That’s huge. That’s huge cause that it’s the investment in yourself. And so I have one question cause I really want to dive into like the tactical aspect of what we’re going to talk about today and I’ll bring up a spreadsheet. No, I’m just kidding.

 

Chris:          17:43          A little bit. So when you made the transition from the business, you

 

Chris:          17:50          quit to start Cashflow Tactics, was it the pool of Cashflow Tactics and this new different thing that you wanted or was it a struggle in the world that you were in? Because I remember talking to, you said you were making a bunch of money. Things were good financially. Was it in good totally. Or was it there was something there going on. You see what I’m saying? Where you,

 

Brad:          18:07          yeah, I mean I, I hear the stories of like entrepreneurs that rose out of the ashes, right? Like they were at rock bottom. And while those stories are amazing and inspiring, I don’t want to take anything away cause I’ve never been there and I don’t want it like that is like instead of paying your rent, like doing ad spend on Facebook, like I’ve never been in that situation and there’s, there’s that’s incredible and amazing. But the flip side to that that I think is never talked about but equally as difficult and in and in front elements more difficult cause like part of me wants to be like of course you had nowhere to go, you were at the bottom line. What else were you going to do? Quite that’s not that big of a choice because if it didn’t work, you were out of rent and you didn’t have rent money, you didn’t have two months of rent.

 

Brad:          18:51          So spending this one doesn’t matter like, but again, I don’t want to take anything away from that. Like mine has been constantly looking for, sacrificing the thing that’s good and comfortable. Now for the possibility of what could be better. And that’s that is to me, one of the things that probably holds back more entrepreneurs than burning the boats and saying, I got nothing to lose anyway. It’s how do you get to where you can let go of what’s good? And in my case, like I was, but I, the top dog had the most influence in the organization that I was part of. I had a comfortable half a million dollar a year gig going and I didn’t have to do much, but just show up and leaving that, that letting go of the comfort for the, what I knew was going to be painful was, was the thing that held me back.

 

Brad:          19:38          But simultaneously I knew I had in me what is now blossom in the cashflow tactics that I was in a box and prevented from expanding. And that’s what ultimately pushed me out when I got called in and said, Hey, I’ve been told you’re doing this, this and this. Is that true? My gap? Well, that’s not what we do here. It was like, actually it is what I’ve always done and I’m going to continue to do. And they said, no, this is the box you get to play in. And that’s what I was like steer to one, I’m out, I’m done. I’m figuring out how to get out of here. And we, and we built that. So it was, it was more the constraints and again the entrepreneurial idea being put in a box. It was constraints being put on there. It didn’t matter how good it was.

 

Brad:          20:22          I had to be who I am and be able to further develop what now is this message as casual tactics. And it was the best, worst thing that ever happened. Cause we had to burn a lot of relationships in the process. I wish I could go back and do it with the knowledge on now cause maybe we could’ve saved some of those. But relationships were burned. Bridges were burned. That it was difficult to undo that. But it’s all been for what we have now, which is amazing. Yeah. That’s awesome. What are the other Chris about some tactical. What’s his, what’s his, I know he wants to when he has in Texas, but um, but I do want to, I just want to address something that kind of, yeah. One of the things that Chris and I look for in coaches and mentors like yourself is it’s the ones that have kids.

 

John:          21:03          Like this is such a kid a little bit, but it’s serious. It’s such a big part of like following someone because before kids read it, we, you know, you have an amazing amount of time, but you convince yourself that you’re so crazy busy and then you have your first kid and you’re like, Holy shit, I didn’t all this time and now I don’t have any time. And then you have your second kid, you’re like, Whoa, I had so much time with one now I don’t have any time. You have your six kid coming on the way, right? Number six, six on his way up, which is like, it was just phenomenal in itself. And you just, you’re rocking out such a beautiful business that’s helping crazy helping people and extremely successful. Like, and on top of that we’re crazy enough to homeschool all of these kids. I love it.

 

Brad:          21:49          A balance. That’s my question. Like what? Where’s the balance with it? How do you find like family balance? Like how is it the instruction with your calendar? Is it, how do you find a balance of like building a business and doing something like following your dream at the same time having kids and a wife you need to support, I mean this is what, you know, a lot of striving entrepreneurs run back to the false sense of security with the nine to five because of this like, no, I have, I have kids, my wife, I’ve got to support. I’m going to just stick with this because that’s safe. Yeah, that’ll be such a good question. Can I draw, I’m going to draw this out. So this is my super power is making things simple enough through diagrams, but the way we look at it, so this is a principle we actually teach on a regular basis as well, is as balanced.

 

Brad:          22:34          You talk about, we look at it that there’s four areas of life that we’re all seeking. Balance, right? Physical, spiritual, emotional, mental, right? So we want to develop in all of these ways, right? And anytime we’re in constraint in one of these, the what’s going through our mind does not have enough time or I’m unhappy for some reason cause we’re constrained in growth in one of these four areas right now to answer your question of, of balance, I want to ask you guys a question first and everybody listening, if I could write a check with as many zeros as you need on it to be free forever, which one of these four boxes would you give me in exchange? I think they’re all more valuable than that Jack. Right? Yeah, I would because it would diminish my quality of life. I’m going to call BS.

 

Brad:          23:25          Do you know why? Because this is what’s, this is the reality. Like I don’t remember who said it, but somebody said show me your calendar and your bank account and I’ll tell you where your priorities are, right? Yes. How many of us are like, think about yourself when you graduated from high school versus right now your physical condition. Are you in as good a shape as you were? You were senior in high school. A lot of people would say no, right? Or think about the quality, like how much learning have you done since you graduated from college? Yeah, from a mental standpoint, how much you’ve invested there. Right? A lot of people are sacrificing that and what’s the excuse that they use to say I’m not able to do that. While they’re too busy working. So most people’s life, they think that money is going to get them what they want and as they pursue money, what they find is this box here expands and pushes out one or more or all of those areas pretty accurate to represents.

 

Brad:          24:25          You’d like the harder we push for success to get things financially, to have our time back, it actually squishes out and we don’t have any time for the things than that. Yeah. Yeah. So to me, here’s the answer. Imbalance is what we teach and what we strive and what I strive to do. And I’ll tell you how I do this in a second. We just want, I need to do this. We take the box of money and it becomes the foundation that we build expansion in these four areas. And if you’re listening, you can’t see this. But if you’re watching it, it’ll make sense. Money is not what we want. We want these four areas, but um, but it requires money to be able to do those things. Okay? We have to have money. We have to control it. We have to understand it, it has to support us.

 

Brad:          25:07          So as it comes down and now we flipped the script and instead of working for money, money works for us and we’re empowered in that conversation. And using that as a tool to get our outcomes, something opens up that’s been hidden behind it. And it’s this box of purpose. And as we pursue purpose, it does not crowd out the other areas, but it expands the entire box. And so for me, wrapping up purpose into what I do at cashflow tactics, it drives me and allows me time. While, yes, it’s incredibly difficult and demanding to grow a business, it gives me more capacity because I’m driven through purpose to be able to give myself permission to expand in all four of these areas.

 

Outro:          31:43          It’s gonna be in part two of this episode. So, definitely check out the episode for next week. Yeeees, being an entrepreneur is the best, but it has tons of challenges, right? Two of the biggest are; how to make more money and how to keep more of the money that you do make. Just recently, John and I were at an event called Offer Mind, and we had the opportunity to see Brad Gibb deliver a presentation that just blew our minds. It was called, “How to Turn Business Cashflow into Personal Cashflow.” His whole presentation was designed to teach entrepreneurs like us, the principles of how to make more money and keep more of the money you make. After this interview, we asked him if we’d ever be able to get our hands on his presentation. Well, because he’s awesome, he said yes. And, for a limited time, he agreed to let us give it to you. To get it, all you have to do is join our Yoga Entrepreneur Secrets Facebook group. So, go over to Facebook, and search for Yoga Entrepreneur Secrets. When request to join, you’ll answer three simple questions. Just be sure to leave your best email in the third question, so we know where to send the link. And remember, do the work, honor the struggle, and make the world a better place.

9
Oct

16: Stop Cheapening Your Yoga – 3 Simple Strategies To Charge What Your Worth, And Attract Your Best Students

yoga studio increase customer value

What Is This Episode About…

In this episode, Chris is going to share what every yoga entrepreneur can do to increase the value of the services they offer so that they can charge more and make more money. He will talk about how they joined OfferLab and attended OfferMind, and share how implementing the strategies they learned has been the biggest game-changer in their business.

Listen in as he teaches you how to make a better and more valuable offer so that you can completely revolutionize what you’re doing, how you’re offering it, and the results that you’re getting for your clients.

Key Points Discussed:

  • Joining OfferLab and implementing the marketing strategies learned (00:54)
  • Solving the valuable problems to make more money (04:22)
  • How to add crazy value perceptually so that clients are willing to pay more (09:22)
  • Solving a problem creates other problems and it’s a good thing (13:28)
  • The importance of adding a guarantee to your offers (18:07)

 

Learn More About The Content Discussed…

Join The Facebook Group –> http://bit.ly/yogaentrepreneur

When Was It Released…

This episode was released October 9, 2019

Episode Transcript…

Disclaimer: The Transcript Is Auto-Generated And May Contain Spelling And Grammar Errors

 

00:00          There’s a concept that money follows value. So the real question is, how do you increase the value of what you’re offering so that you can charge more and make more money? Well, that’s what we’re going to dive into today, and there are three simple strategies that will completely revolutionize what you’re doing, how you’re offering it, and the results that you’re getting for people.

 

00:23          What’s up everyone? You are listening to Yoga Entrepreneur Secrets. I am Chris Yax, and I’m John Yax. We are part of a small group of yoga entrepreneurs who are committed to making a living, doing what we love, without feeling guilty about making money, or ashamed of being successful, because we know the real value of yoga and how the world needs it now more than ever. This podcast is here to teach the strategies and tactics so we can thrive financially as yoga entrepreneurs. We are the Yax brothers and welcome to Yoga Entrepreneur Secrets.

 

00:54          Alright, welcome, welcome, welcome. Christopher Yax here. You are joining us in our Yoga Entrepreneurs Secrets Facebook group. And, today I’m super excited. This is something that John and I have been like nerding out on for probably close to five years. And, so a little backstory. Earlier this year in March, we joined a mastermind group called OfferLab. And in that, the whole intent of this organization, of this mastermind, was to help people, business owners, entrepreneurs, understand like, the core of what marketing is, which is, like a sales message, an offer, and then a campaign. And so, we’ve just been like, brain being… like brain dumped, and like understanding this whole new thing. And so, this year what we’ve been doing is, implementing in our business, Hot House Yoga, a little… and actually, not just Hot House Yoga, but Yax Yoga Concepts, little tweaks here and there to just simply… the message that we’re sending out to people and the offer.

 

01:57          And what I really want to focus on today is… and this is what’s so interesting to me, is that, in the yoga community itself. I think it’s a blind spot. I think you have a bunch of like wonderful, like heart-centered, like passionate artists who believe wholeheartedly in what they do, and they know the power of it, and they know what it’s done for their lives. But they, and this is where John and I were when we started, it’s like, we thought like that was enough, that being really good, and really talented at something, was going to be enough to bring people through the doors, and to continue that flow of new people and to… for people to sign up to memberships. And, all we realized is that it’s not the case. There’s like, wonderfully talented people in this world, not just in the yoga community, but in like any other entrepreneurial field who aren’t doing well, and they are like the most talented.

 

02:46          And conversely, there are people who like maybe aren’t the most talented people in the world, but are doing crazy good. Like meaning, they’re making lots of money and they’re impacting people’s lives, and you’re like, “Wait a second. What’s the difference?” And the difference is what the mastermind group that we’re a part of helps us teach is, it’s the marketing. And, not like meaning Facebook ads, not like all the Google campaigns, and the logos, and the branding, and all that stuff, but the… the specific message that you’re sending. The offer, making it irresistible, and then how you bring it out into the world. And so that’s what those people who may not be as talented are doing really, really well. So, back to the yoga industry, I think there is a fundamental blind spot with people, either not leveling up their game, in the… the business end of it, the marketing understanding of it, or just a fundamental blind spot.

 

03:34          And we had it for years. We had it for years. And so, today we’re talking about yoga offer creation. Yoga offer creation. I’m super excited about it. And the first concept I want to talk about is that money follows value. And so, the question then becomes, if money does follow value. And what we’re saying is that like people have problems. Like if you look at it in the yoga world, like the three main problems that people are coming to yoga to fix our stress are a pain, like low back pain, very specifically in flexibility. And there’s a fourth one that’s like, just generally want to do like a general alternative fitness. And so the problems are like, man, I’m stressed out. And so they’re coming to yoga to fix that problem. Or they have back pain and like they’re coming to yoga to have like to for yoga to fix that back pain or they feel super tight.

 

04:22          And usually the tightness is what’s creating the pain. So like they’ll come in and get more flexible to be out of pain. And so what we’re saying with money follows value is that the problem that they have is a valuable problem. And if you can solve that problem for them and it’s valuable enough to them and you’re articulating and presenting it in a way that’s valuable to them, then they will pay you money for the solution that you have. So the question then becomes is how do you increase value? Right? So they have the problem and it’s to them the perception of this is valuable in as much as like it’s debilitating and it’s inhibiting what I’m doing in my life. It’s like creating this film in between relationships. If it’s stress, I feel my body breaking down. If it’s pain like so the degree to which they’re suffering over this problem creates the value in their minds.

 

05:14          What we need to do as yoga entrepreneurs is understand how to frame for them the value of the solution that we’re presenting to them. And so one way of doing it, and this is the way that yoga has done it forever and ever, and it’s crazy to me. I think the like, I don’t know, like when we opened up hot house yoga back in 2005 we didn’t look at other yoga studios to see what is the price points that they’re using because we didn’t like, we cared, but we didn’t care more specifically we looked, but we didn’t model it after them because we weren’t sure if they were successful or not. And I think what happens is like people that are like opening up a studio and looking into the industry, they’re modeling what they’re like, what the industry, the people around them, their competition is doing.

 

05:59          And then they’re just like basically saying, well, if they’re charging $150 for a 10 card, I’ll charge $140 and if their membership is $99 a month, I’ll do $79 a month. And what happens is what they know under like the intrinsically they understand is they’re trying to increase the value for the people they want to attract. But the way they’re doing it is by decreasing the price. It’s the old way of doing it. And you can see like studios just competing on price and it’s a race to the bottom. There’s commoditization of our services because everyone is just cheapening by lowering the price, which is one way of increasing the value. But what ends up happening is you end up not being able to make enough money to keep the doors open, to pay the teachers, the wonderful teachers that are there teaching your studio.

 

06:42          So the other way of doing it, and this is what we’ve been like doing in the last year, we’ve been learning about it, but really implementing and understanding on a much deeper level. The past year and it’s increased like we’ve been open for 15 plus years, we’re grossing over $1 million a year, right? We have like the margins are awesome like in the online world, but like it’s still phenomenal. And over that time, this year we’re projected to increase by 20% our revenue. That is not an easy feat to do with a mature studio already doing really well to increase that. And but it’s so funny that it’s just a couple of few tweaks and that’s what we wanted to show you today. So the second way is make a better offer, right? Understand if money follows value and you have this offer that is solving a problem for somebody, how do you make that offer even better so that they’re like, man, I want to go there.

 

07:37          And what happens when you make a better offer is that you don’t have to then compete on price. By decreasing it, you can actually increase the price, charge a premium and people will like, they’ll appreciate it because here’s the thing when people pay, they pay attention. If they pay more money for something, they pay more attention, they value it more perceptually, right? The commoditization of decreasing price over and over again, it totally kills the perception of the value that they’re going to receive within yoga, within the studio, regardless of what it is. So how do you make a better offer? That’s really the core teaching today. You make a better offer in three weeks. So this is not our, our like information that we came up with personally. This is information that we’ve learned from the mastermind that we’ve been in, that we’ve implemented that has given us crazy success and get the mastermind like the developer, like the man is Steven Larson.

 

08:31          So I give him credit because that’s where credit is due. So three simple strategies to add massive value to your offers. And look, it’s not like when you see it, you’re going to be like, that seems super simple, but the simplest stuff tends to be the most potent stuff. So, uh, your core product is like the main thing you want to sell somebody. All right, the main thing, whatever it is. So if like a membership to your yoga studio or if it’s like a class package that you’re putting and you want to like emphasize that this month as a promotion or whatever it is, like are you doing a teacher training or like, so there’s a core product that you want to sell, which is solving a very specific problem for a person. Right? So that’s the frame that we’re saying because what I want to go into is you’re always going to have that core product because that’s the main thing you want to sell.

 

09:22          Now the first way you add crazy value perceptually so that someone will then be willing to pay more for that core product is come up with a awesome sales message, right? The sales message is very specifically the story, whether it’s yours or someone else’s, have someone already succeeding and having gone through the same issues they’re going through now having used the product that you’re trying to get them to buy. And then they’re on the other side of it and they’re experiencing the result of using this core product. And there was a, there was so interesting. So I was listening to NPR the other day and they were talking about foraging. Foraging is like, you’re just like walking around in like a forest or on the beach and finding edible food. Just lying around in nature, not food that phones like thrown out. Like you’re not eating a half eaten sandwich.

 

10:14          It’s like seaweed and mushrooms and things like that. There’s like a legit, my group of people who are foragers who go out and they collect food. Now there’s a restaurant, I believe it was in France, I can’t remember exactly, but I’m pretty sure it was in France. Their whole niche is selling foraged food, meaning they have people go out, they buy the forge food from the people, they prepare it and then people come into their restaurant and they purchase board’s food. What she said in the interview Ballou my mind, but it correlated with everything that we’ve been learning and that is, as she said, a lot of the food, like we prepare it but it doesn’t taste awesome. And then if he was like, Whoa, Whoa, excuse me, it doesn’t taste awesome, but you’re a restaurant. People come in because they want awesome tasting food and she’s like, no, you know what sells the food is the story.

 

11:05          It’s the story of how it was brought about and brought to their table of who went out and where they went and saw it and what they had to go through to get it and how it became a dish that they get to now enjoy the sales message, the story behind the product that they’re getting increased the value so they can charge a premium even for food that didn’t taste as good now. So you may ask like, well like, okay, I don’t doubt that I’m a yoga entrepreneur. I’m like teaching classes. I’m going into a retreat and I’m doing teacher trainings, whatever that is. That doesn’t make any sense to me. We’ll then look at it in the terms of like, okay, if you are just trying to get people into your doors as a yoga studio, like how do you create a S, what is the story that people who you want to come into could listen to that would connect to them and relate to their own story.

 

11:52          So would compel them to say, Whoa, what they’re doing. That’s a whole nother level. I’m willing to pay a premium to go there versus a discount to go there because I already know that what they’re doing connects with me and it’s going to solve this. The problem that I have and the way you do that is through social proof testimonials, right? Adding people like asking your people who are coming in, like what were you dealing with beforehand? And like tell me now, like what, what was it that like really triggered the transformation for you and how does it feel now to be on the other side? And like you just get these testimonials so that you can tell stories wrapped around the core product that articulate the path that someone has already gone through because you’re attracting these people who are having that similar problem and they see someone who has gone before them and has experienced the result that they’re looking for.

 

12:42          It increases the value simply by telling a better story around it. That’s one. Number two is this one has been like so good. It’s so good, but it takes a little time for you to like sit down and think about it and like interview people if that’s where you’re going to go get some like get some market data and that is, so I kind of talked about it. When someone comes in to buy anything, right? They are buying it to solve a problem. What happens when someone solves that first problem so they say, yes, I’m in. That was an awesome story. I feel connected. I’m coming in and I’m going to, I bought the introductory special that you have. There’s another problem that just came up. If it’s yoga now what we’ll do, I I need water. Maybe Ann or I need, I don’t have a map but I need a mat.

 

13:28          Like I don’t know what clothes to wear. I don’t know. It’s like do I need, is there any like dietary things I need to know about? Do I need to like eat something specific? So solving a problem creates other problems, which is awesome for us because then we get to think about it and be like, all right, if someone comes into practice yoga, what’s the next problem for them? Now, you may not think of it, it’s not a problem, but it is. It’s an issue that they now have to figure out how am I going to like practice? Now it’s hot yoga. If that’s what you teach, like, do I need a towel? Do I need to bring my own towel? Oh no, no, don’t worry about it. So what you do to add value, crazy value, this is like so, so good is whatever the core product is, come up with what the followup problems are going to be and start stacking the solutions to those problems in the offer.

 

14:15          So you’re like, Oh, guess what? You get this introductory special and it’s whatever the price is for. However the duration is right, it’s $99 for a month, or it’s like $100 for two weeks, whatever it is. But guess what? You also get unlimited mat rentals or you know what? We’re going actually going to give you a mat at like the value of it is $30 but we’re going to give it to you for free, no extra charge. And Oh by the way, during that period of time, you’re also going to get towel service and you’re going to get a shower town. You’re going to get a a mat towel. So don’t worry about that at all. And Oh, and by the way, you also get this water bottle because you know you need to be hydrated and it’s gonna like has value. So now, guess what?

 

14:53          Yeah, I know you’re thinking when you come in, you’re gonna have this problem, this problem, this problem. I’ve already thought about it for you. Don’t worry, you’re going to come in and do the two week unlimited, but then you’re going to get the mat Reynolds, you’re going to get the water bottle, you’re going to get all these other things, and all of a sudden you’re just like, the person looks at that. You, then you can charge more for that same core product, adding these followup problem products and all of a sudden you’ve created an offer that people will pay a premium for. Now, third one, I don’t want this to be too long, we’re training, but this is so good. Third product or third strategy is you have the core product, but you add a guarantee. There’s a psychology, a human psychology that people go through when they’re purchasing something.

 

15:31          The first thing is like they look at it like, man, is this gonna work? Like does that thing work? Like generally like this does yoga work and all of a sudden you have like a solution. Excuse me, a, a social proof of someone saying, yeah, it worked. And then they’re like, well, okay, it worked for that person, but can I do yoga? Is that, is it possible for me? And then that same social proof like, Oh yeah, that person did it. Oh, and they, they weren’t like the quintessential Yogi, right? They didn’t look like flexi bendy, Gumby person. They look kind of like me and Oh then that person did then okay. I think I can do it. And then it’s like, well, like it’s a lot of money and like I don’t know if I can afford it. I don’t know if I can get support from my like significant others.

 

16:08          I don’t know if I had enough time and if they jump through once they get to that third hurdle, like this is how people process every sale they make is like, Oh, does it work? Does it work? Can I do it? And then like how are people gonna like perceive me and do I have enough money and time to do it? Like once they get through that, the last thing is like, man, I’m going to give this person money, but what if something happens? What if I don’t like it? What if it, I don’t get the results? So all of that, there’s still this like lingering little objection. What a guarantee does. It says, you know what, don’t worry about it if you’re for whatever and you can structure the things however you like. So don’t like take exactly what I’m about to say and say it.

 

16:43          That’s the guarantee that I learned from this training and I’m going to do it. You have to get make it right for you and get very specific and like get very detailed about what the guarantee actually means. But essentially it’s reversing the risk that they feel of being taken or losing some like the money and not getting what they actually paid for. And so a guarantee, what it does is right at the end you’ve gotten this awesome sales message and like, yes I feel it. I know this is like this is what I need. And you have all these stacks like man, they thought of everything. That is a crazy irresistible offer. I’m so ready. But there’s like, ah, I just don’t know. The guarantee is what pushes them over the edge on the like cause they’re on the fence, pushes them on the other side of the fence and says, okay listen, don’t worry about it.

 

17:23          And for whatever reason, by the end of this introductory special, if you feel that you didn’t get what you’re looking for and it may, you may need to go more specific than that. If you don’t feel younger, if you don’t feel more flexible, if you don’t feel like you’ve gotten whatever the promise was, then we will give you your money back. You can even double down and say, not only we’ll give you money back, but we’ll give you 10% extra. There’s a great case study of this. There’s a man named Tim and he was selling, it was a supplements and those was a specifically, I couldn’t even call brain ignite or something like that. Brain Quicken and he was selling. He was doing, he had like pretty good success and all of a sudden he did a a, it’s called a loose win guarantee where he said, I forget the exact numbers.

 

18:07          He said, listen, if you take this and after seven or 60 days, you don’t feel a difference, I will not only give your money back, but I’ll give you 50% more so I’m actually gonna give you money to try it. Everyone’s fear when they hear that, it’s like, man, people are just going to take me. I’m going to lose money. My business is going to go out. And the real reality of it is, especially if like you’re delivering really well and the product that you’re selling, like yoga, if you’re doing it really well and you’re getting people the result, what this does is just gets people who are like a little like, ah, I don’t know. It gets them to say yes and then if you’re delivering what you promised really well, what you’ve just done is given them the opportunity to actually solve the problem they have and very few.

 

18:51          And like there’s been case studies upon case studies, upon case studies where there is yes, there’s some people that just try to like police the system and then they’re just gonna try to like do it just to get it. And then they’re going to like, I didn’t feel anything. I want my money back. But then they’re not your person anyway. Right. They’re not your, they’re not going to be a part of your tribe anyway. And so adding a guarantee to your offers is so important because it pushes people over the fence to say yes, especially in like this is something if you have, there’s fear around it because there was a lot for us in the beginning like just remember what you’re doing, why you’re doing it, and how you’ve delivered. Like for us, we’ve been open for 15 years. We’ve got testimonials upon testimonials about how what we do in the room and the yoga that we teach is just utterly transformed people’s lives.

 

19:34          So I can say, listen, I know wholeheartedly this is the right thing for you and this is going to be the best thing for your life. Comes back. I’m so confident in it that I guarantee the success of it and all of a sudden you’ve now created where most people are just like, Hey, I have this intro special that’s like $5 for two months. Like, okay, that’s one way of doing it, but then people don’t value it and they don’t come in. Or you can say, you know what? I’ve got this awesome message for you because I know what you’ve gone through and I actually was there too. And if it’s your own story, it’s even better. But if it’s someone else’s story, man, and check out what so-and-so went through and if you’re feeling this and like you just go through this process, the system that we created, this is how they experienced it.

 

20:12          And so, the same potential for you. And then you add all these followup problem products to that core offer and you say, you know what, and I’m so confident in it that I’m going to give you this guarantee. It will totally transform. For us, like 20% is hundreds of thousands of dollars for us that we have increased, just using these simple strategies with the offers that we’re creating, and the people that we’re helping. And this is the other thing, like, so it’s… this is very money-oriented. Right? It’s very like structure and package. It’s very tactical. But, remember, people are hurting, they have a problem, they need yoga. Right? And what we know is that, when people pay more for something, they pay more attention, they’re more vested, they will like, jump over hurdles more, they will go through the difficulty, the struggle, the strain of getting to class, because they’ve invested their money on the front end, and now they want the transformation that they’ve invested. They are more invested. In fact, doing this, you will give them more results, and they will stick with you longer. It is an utter transformation for us, and what we’ve experienced within the yoga studio. So that’s it. Three simple strategies to add massive value to your offers. Sales message, it’s the followup problem products, and it’s the guarantee. Add those to your offers and I guarantee that you will see a huge difference in your sales, and the people that you’re attracting, and if you’re doing this as a yoga studio, in your memberships.

 

21:39          Yes. thanks so much for listening to Yoga Entrepreneur Secrets. Do you have a question that you’d like us to answer raw and uncut on the podcast? If you want your questions answered, all you need to do is head over to Apple Podcasts, and do three simple things. One; rate and review telling us what you think of the podcast. Two; in that review, ask anything you want related to yoga, and three; if you want to shout out, leave your Instagram handle or name and that’s it. Then listen in to hear your question answered Live, raw and uncut. Join us next time on Yoga Entrepreneur Secrets Podcast. Thanks

 

2
Oct

15: Fall In Love With Your Yoga Student’s Problems

yoga studio problems

What Is This Episode About…

In this episode, we are going to discuss the difference between a product/service and an offer.

Every yoga entrepreneur should focus most on offering their students a valuable service that solves a very specific problem that they want solved. If you are not creating an offer that solves your student’s problems, then you just have a service that probably 5 other yoga studios in your area have. This means the only way to “win” is to race to the bottom on pricing. Crafting an offer allows you to increase the value to the potential student.

Tune in so you can learn exactly how an offer can not only help you make more money in your yoga business, but also enable you to make a bigger impact on your students’ lives.

Key Points Discussed:

  • The difference between a product/service and an offer (01:00)
  • An offer increases the value of the service business is providing (01:52)
  • You cannot be the second cheapest Walmart (03:33)
  • Only those with huge capital can win a race to the bottom (05:07)
  • 80% sign-ups when you solve your students’ exact problems (07:31)

 

Learn More About The Content Discussed…

Join The Facebook Group –> http://bit.ly/yogaentrepreneur

When Was It Released…

This episode was released October 2, 2019

Episode Transcript…

Disclaimer: The Transcript Is Auto-Generated And May Contain Spelling And Grammar Errors

 

00:00          You can come in and you can take introductory week for $20. So what does that mean? And just get to come to… Unlimited. You can come as many classes as you like, and that’s it. For one whole week. I need a mat. What do I do about getting them? You don’t have a mat. We have mats for rent here. You can rent a mat. A water? There’s a water fountain. Make sure you bring a bottle. All of a sudden you’re like, “Wait. So, if you see what happens is that, when you think about those problems, here’s a real simple way of doing it.” Fall in love with your student’s problems, and figure out however you can to help solve those problems.

 

00:29          What’s up everyone? You are listening to Yoga Entrepreneur Secrets. I am Chris Yax, and I’m John Yax. We are part of a small group of yoga entrepreneurs who are committed to making a living, doing what we love, without feeling guilty about making money, or ashamed of being successful, because we know the real value of yoga and how the world needs it now more than ever. This podcast is here to teach the strategies and tactics so we can thrive financially as yoga entrepreneurs. We are the Yax brothers and welcome to Yoga Entrepreneur Secrets. .

 

01:00          Alright. So, what is that the difference between a product/service, depending on what you’re doing, and an offer. So, when we started, when we first started, we had no idea what the difference between a product… call it service, cause that’s what we’re offering. Well, it’s the service industry, but it’s the same. Call it service/product, and an offer. And, we kind of stumbled on this when we… way back in the day, and by the grace of God, because it really… it made a huge difference. But then, as of recently, in our studies, and coaches, and trying to go next level with what we know and understand, we’ve realized that there’s a real difference between service and an offer, and what we need to do to really get the most out of what we’re doing. Right? What does that… what does that even mean? Get the most out of what we’re like, what we’re doing.

 

01:52          I would say that differently. I would say, “Get the most out for us, extract the most amount of money”, right? And for the student, “To extract the most amount of value and transformation for them.” Cause, we talked about it last couple times, and maybe we did. Did we? I don’t know. I’ll… I’ll pretend like we didn’t. Like, what we talked about, or what we will talk about in the future, is that when someone pays, they pay more attention. And so, what we’re saying is, an offer gives you the opportunity to increase the value of what you’re providing, whatever service that… whatever service or product that is. And thereby, because the value increases, you can charge more, and make more money. Now, when someone pays more money, it sounds like very like capitalists, and you’re trying to like, steal as much money as possible. No, no, no, no, no.

 

02:46          We’re talking about offering a valuable service that is valuable to the person and is solving a very specific problem that they want solved. And it’s yoga people, we’re talking about like, maybe the most life-transforming experience that you can ever do. So like, I place that value way high, and I don’t have qualms about charging what we’re worth. No. And, I may add to that. Yes please. The majority of yoga studios, whatever your service, or your… the majority of people don’t actually create offers. They say, “Here’s my product, here’s my service, and this is what I charge for it.” And then the person down the street that offers the same product or service says, “Oh Chris over there is charging this much. I’ll charge $10 less.” And then the person down the street says, “Oh, John’s charging this much. I’ll charge $10 less.” And then it becomes a race to the bottom.

 

03:33          There’s a saying that you cannot be the second cheapest Walmart. Yeah, it’s actually by Dan Kennedy. He’s like, there is no, if you can not be the cheapest, there is no strategic value in being the second cheapest. So why not be the most expensive now you can’t just like throw your prices way up there and expect people to start paying it. They have to see the value in it. And this is the difference between a service. Just a regular service and an offer. So the story is when we first started, we just provided a service and we didn’t charge anyone for it. They’d come in, here’s a free class. Everyone gets their first class free. Now this was back in 2005 right? This is pre Facebook. This is pre social media, right? Google’s just getting a kick in. There are no cell phones. There are no mobile phones, right? There’s no, there are only car phones like straight up attached to the dashboard.

 

04:23          Car phones. I had one. It was phenomenal. You imagine a life like that right now, like you couldn’t just pick up your phone and find out any information on the planet. Right? Great. Make a phone call whenever you want to be in. Anyway, so we stumbled upon this. So the reason I said that, let me just finish that real quick, is that we, at that time, yoga was at such an infancy stage that it was probably the right call just to expose people to this and be like, Hey, listen, there’s no, no commitment. Just come and take your class and just see, see how you like it. Right now. It’s a totally different landscape. The whole landscape of our industry has changed and to continue offering free classes is a disservice, not just to you, but to the student. Because going back to what I was saying before, it becomes a commodity.

 

05:07          If everybody’s offering it and everyone’s cutting their prices racing to the bottom, then the only people that can survive are the ones that will, the ones that have the most capital, right? The ones that had the most savings that can survive that battle right to the bottom. Unless you create an offer. This is what differentiates you from all the other people that are trying to just price cut to the very bottom. We stumbled upon this kind of organically, way, way back in the day and didn’t really know what we were doing, but created an actual offer. Yeah. We had a really good friend, Johnny Gillespie. He actually has a couple studios up in Philly, Tristate Tristate area, and we ended up doing a workshop up there with them and he talked to us about what he was doing and he had this brand new beginners course and that’s what he called it.

 

05:53          And he was like, guys, you should totally do it. It’s awesome. And so we it. But what he gave us was this course of like the idea of, Oh, you just, you’re going to bring people in and this is the course they’re going to take. So they’re not just coming into regular classes, but what we decided to do without knowing it, which is funny because then we actually got away from it and now we’re learning about how to actually create offers and we’re like, Oh, that was it. We were already doing it way back in the day. And so what we decided to do was not just say, here’s your course that is over four weeks, two times a week, eight sessions. But we created a pamphlet. Basically now it’d be a PDF file that you would give digitally that we actually had a folder and we had like our logo, a sticker that we put on the front of it and we wrote out, we actually took pictures and put the pictures of each pose in orders for the sequence or they had the sequence that they could look at and reference.

 

06:46          We had a nutrition part that we talked about water and we talked about like what to eat before you come in and how to do it and good foods to eat bad foods, [inaudible] foods to avoid overall. And then with your practice, we have a nutrition piece to it, a water piece to it, how much water you should drink, the kind of water, purified water meditation, dove deep into meditation. So we gave them meditation experience and kind of an intro to meditation, so it was packed with such good material. Chris talked about this before is when you come in, when your students, the people that want to, Oh, let me say it this way. When you solve your students’ problems, your client’s problems, more problems arise. And this is one of the cool keys of creating offers is that, and we’re actually gonna talk about this in the very next episode, like super deep dive.

 

07:31          So John’s going to give you a little precursor to get you excited so that you listen to the next episode. You got to do it. But this is what happens is, so we fixed one of their problems and another problem happens. So they come in, they want to do hot yoga for the first time. Oh, we have this, uh, this course called Brandon beginners course. It’ll teach you everything you need to know. Okay? So when they get into that and then like, well, I need a mat. Oh, don’t worry about it. We got a mat. It’s included in the course. Well isn’t water. Let’s see what’s going to be hot. I’ll be sweating. I need to drink lots of water. You guys have this whole thing about water. I guess I need a water bottle. Yeah, we’ve got that for you. It’s included in the course.

 

08:03          So as I’m doing this, obviously I’m going to practice at different times a day and then I want to eat a shirt or am I supposed to not eat or what kind of food should I eat? Oh, don’t worry about it. We’re going to talk about that. Cause we’ve created this awesome pamphlet that actually tells you exactly what to eat, what not to eat before and after class. And so yoga, I’ve, we do yoga and there’s yoga poses, but I also heard yoga is not just about poses meditation and meditation seems a little bit like esoteric and like really hard. So what about meditation? Yeah. And the very first session we’re going to talk about it. It’s very simple in the practice, but it’s challenging. So we’re going to dive into the mechanics of it and give you a really clear cut idea about what to do and how to do it.

 

08:40          So here’s one of the coolest things is that we had 80% of people that went through that brain and beginners course sign up for a package. They didn’t blink an eye on it. And I think we charged almost $200 for this brand new beginners course. Yep. Which actually was really good for it, but we actually probably could have charged more for it because of the benefit of what people were getting, the value that people were getting out of it. But we had 80 plus percent of those people sign up for a package after they did it. In fact, there are some of those people who are still with us today. When we started this back in 2006 still practicing with us. Some of those students are now teachers with us and have been teaching with us for over 10 years. It’s phenomenal. So like the quality of the course was such that it attracted people and held them in, got them so indoctrinated into what we do and how we do it and gave him so much good information that they were like, man, why would I go anywhere else?

 

09:28          Why would I do that? So now here’s the difference. What we just described in our, what was the brand new beginners course wasn’t offer because we didn’t just say, you get this course. We also said here all the other things that you’re going to get with it. And we started stacking one after the other, after the other, after the other, after the other. And we said, guess what? It’s gotten. Not just that, but you also get unlimited yoga during the time. So you get to jump into classes and actually practice what you’re learning. Yeah. And so what happened was we are able to increase what we were charging because we didn’t charge for the service itself. We charged for the offer that solved all of these problems for those people. Right? For our students. Now you can look at that and then look at [inaudible]. Oh, you can come in and you can take a introductory like week for $20 so what does that mean?

 

10:16          And just get to come to unlimited. You can come as many classes as you like and that’s it for one week. For one whole week. Okay. And then what happens? Like, so I need a mat. What do I do about getting them like doing, don’t you, I need a mat with yoga. You don’t have a mat? No. Okay. Well we have mats for rent here. You can rent a mat. Okay. What I water like so much. There’s a water fountain. Make sure you bring a bottle, right? You know, all of a sudden you’re like, wait. So you see what happens is that when you think about those problems, you’re just like there. Here’s the thing, here’s a real simple way of doing it. Like fall in love with your students problems and figure out however you can to help solve those problems. And so you don’t need like all the lists that we just said about what we offered in the render beginner’s course.

 

11:00          You just start falling in love with your students problems and then start figuring out ways and solutions of helping them solve those problems. And what happens is you then package that together and then it creates crazy value for them because you’re solving all these problems that some they knew, they had, some they didn’t know they had until they decided I want to do yoga. And you’re like, don’t worry, I got that, I got that. No worries, don’t got that, and then I’ll look at that. Someone over there is like, I got a 30 for 30 30 days for $30 that’s it. And you’re like, Oh well I’ve got this course that you’re going to learn every single pose. We’re going to break them all down. I’m going to give you this pamphlet. Or maybe it’s PDF now because we were like in 2019 not 2005 and it’s not going to kill a tree.

 

11:36          And like mats are included, towels are included. And by the way, you understand water bottle and you understand nutrition, you understand like all of a sudden I can charge over a hundred dollars for this offer. They can only charge $30 for 30 days. Right? You can just look at it and be like, there’s not, it’s not equal all. Here’s what I’m going to use. That exact same example that Chris gave. If I went to Joe Schmo studio and it was, he was doing 30 for 30 and I got to the end of that 30 days and then he came to me like, Hey John, you got to the end of 30 days. How’d you like us? Like, yeah, it was, it was great. Okay, I want to join. What does it cost? So $150 per month. I just paid $30 for a month. Yeah, that’s $150 per month to be a part of the member.

 

12:16          It’s a part to be a membership here to for a membership here. Okay, well let me think about it. As opposed to, I went to Chris’s studio and he charged me $300 for this course. That taught me all the poses that got me into eating the right foods and I had a water bottle and a mat included in telling me about meditation and it allayed all my fears, all my concern, indoctrination into this actual into the style in which I teach and I get to the end of that one, which was also 30 days hypothetically and I’m like, Chris, that was so good. I want a membership here. How much is it? That’s a $130 a month or even 150 it’s, let’s say it’s $150 Oh, I just paid $300 four a month. I’m only paying $150 for a month for unlimited practice I’m in. I see the psychology, right?

 

13:06          I got such value on the forefront and I paid a higher price, which means I paid attention. Right? I got crazy value out of it. When I go back to actually be a member there, it seems like a great deal, right? I paint half the price I just did for unlimited practice. It works every time guys. It’s a psychology, right? And it’s psychology-based off the value that we can give our students fall in love with your students, fall in love with your students’ problems, give them such value in the upfront and the loving the one say with you. Yeah. So it’s a very simple concept, right? What’s the difference in a service or a product and an offer and then you’re just stacking as much as you can in that offer to increase the value so you can charge more and solve more of their problems, which means they’re going to fall in love with it more and they’re going to be like totally like dialed in to what you do and how you do it and it’s a win, win, win for everybody. Yeah. Alright, so that’s it for that. Thank you so much for joining us. Tune in to the next one cause we’re going to dive deep into offer creation and exactly how do you increase the value. Not just like stacking a bunch of stuff, but there are specific ways and that’s what we’re going to dive into next time to be a good one. All right, we’ll see you peace.

 

14:15          Yes. thanks so much for listening to Yoga Entrepreneur Secrets. Do you have a question that you’d like us to answer raw and uncut on the podcast? If you want your questions answered, all you need to do is head over to Apple Podcasts, and do three simple things. One; rate and review telling us what you think of the podcast. Two; in that review, ask anything you want related to yoga, and three; if you want to shout out, leave your Instagram handle or name and that’s it. Then listen in to hear your question answered Live, raw and uncut. Join us next time on Yoga Entrepreneur Secrets Podcast. Thanks

25
Sep

14: The Big Lie About Money

yoga money

 

What Is This Episode About…

In this episode, we are going to discuss the fact that money is really just energy and a medium of exchange. This is a sticky topic, especially in the yoga world, but it’s super important and why we have spent the past few episodes highlighting our battle with money so you can avoid our pitfalls and learn what we have over the years.

We’ll debunk the idea that Time is Money while giving reference to Myron Golden, and also discuss how the misunderstanding of what value is and how to create more of it, is keeping yoga entrepreneurs from making more money. 

If you’re an existing or aspiring yoga entrepreneur, you won’t wanna miss this one. Check out the episode above or on your favorite podcast player here.

Key Points Discussed:

  • The mud of our lives is what gives rise to the beautiful expression of who we are (01:21)
  • The money beliefs that control us (02:59)
  • Freeple, cheaple, and feeple (05:05)
  • It’s never an equal exchange of value (09:11)
  • The money is more valuable than the service (11:59)
  • Money is not equal to time, but it can help you get some of your time back (14:35)

 

Learn More About The Content Discussed…

Join The Facebook Group –> http://bit.ly/yogaentrepreneur

When Was It Released…

This episode was released September 25, 2019

Episode Transcript…

Disclaimer: The Transcript Is Auto-Generated And May Contain Spelling And Grammar Errors

 

00:00          Right. So, today we want to talk about the sticky topic of money. Yeah, we’ve been on this kind of money kick last couple episodes. We’re gonna continue, and talk about what it is, and what it is not.

 

00:15          What’s up everyone? You are listening to Yoga Entrepreneur Secrets. I am Chris Yax, and I’m John Yax. We are part of a small group of yoga entrepreneurs who are committed to making a living, doing what we love, without feeling guilty about making money, or ashamed of being successful, because we know the real value of yoga and how the world needs it now more than ever. This podcast is here to teach the strategies and tactics so we can thrive financially as yoga entrepreneurs. We are the Yax brothers and welcome to Yoga Entrepreneur Secrets.

 

00:46          Yeah. So, Chris. We… you and I have kind of broken-down our money issues. Exposed… So painful, so painful.

 

00:57          So we talk about our money issues and like what… how that’s affected our lives, and what’s also… it’s one of those things too, which is interesting cause it’s… it’s affected us, but it’s also created a drive in us. You know? It’s like… but it’s taken… it’s gotten to a certain point, and we’ve expanded to the point that we’ve decided, “Okay, I need to be proactive, and actually do something about these money issues because I cannot live with myself.”

 

01:21          Yeah, it’s funny cause the… it’s one of those things where the… your greatest weakness is also your greatest strength. And like, the issues that we’ve had… it’s funny cause, this is… in yoga, we talk about like, the symbolism of the lotus flower, and like the mud of your life. So, the symbolism… if you’re not… if you don’t know about like, the whole yoga speak, is the lotus flower is a very prominent symbol in yoga, because, it grows from the mud. Right? And this beautiful expression of a flower, this gorgeous flower, comes from mud, literally, something that like stinks, is a little disgusting, doesn’t feel good, doesn’t look good. Right? But, this beautiful thing grows from it. And so the symbolism is that our lives… the mud of our lives, is what gives rise, gives birth to, this beautiful expression of who we are. And so, it happened with us, with our dad, and the resentment, which gave birth to this ability to forgive, and this huge lesson in our lives, that we were able to overcome. And, the same thing with money, like the issues that surrounded our lives, the circumstances of our lives, the mud that I would look back and be like, “Oh my God, I wish we were rich when I was growing up. It’d be so much easier.” No, it probably wouldn’t. We’d just have different problems. So, the value of growing up in the… the scarcity mindset that we had, was that it gave us the opportunity to learn more about money, to overcome those issues, and to be better for it.

 

02:43          Yeah. Think about the ideas, the beliefs, that we all have around money. We all do. The idea that rich people are greedy, or the idea that money is the root of all evil. Right? Or, this is like common ideas, or money can’t buy happiness, and…

 

02:59          Well, broke can’t buy anything. Nope! It can’t buy anything. Cardone said that actually. Or, money can’t fix all your problems. Beautiful, teacher of ours, Myron Golden said, “Yeah, money can’t solve all your problems, but it can solve 95% of them.” Then he was like… and then he goes on to say, ”And then once you’ve solved 95% of them, you have plenty of time to figure out the other 5% that money can’t solve.” It was so good. So good. But one of the… another big thing is like, that we get caught up in is, the higher education, like the more we educate ourselves, the more we make? It’s another belief pattern and it’s… there are a ton of examples that show that that’s not always the case. Yeah. If you want to work for somebody, or be self-employed, you can get higher education, and then do that, and you can make a decent income, but think about like the pioneers, like the… the people that are like the ultra-entrepreneurs, like Edison, Thomas Edison, or Ford, Henry Ford, Steve Jobs, Bill Gates, Michael Dell. Like, all of those people dropped out of high school, either college, either one. High school or college. Everyone of them did, yeah, every one of them dropped out, and, went on to be just massive influences in the world, as entrepreneurs. So… so it’s interesting because we all had these… these beliefs, and a lot of times, they are false beliefs based off what our family taught us, or society taught us, they are these… these ideas, but the crazy thing is, they control us, right?

 

04:28          Yeah, they do. And that same mentor of ours, Myron Golden, he wrote that or he wrote, he actually said it on stage because we just got back from, at this point when you listen to this, I’ll probably be like three weeks, but it was this event called OfferMind, which was awesome. They call it the stuff that we’re learning about for our business and how to scale it, all that stuff. It was like all condensed into this awesome two-day event. And he was one of the speakers and what he said was, we don’t attract what we want. We attract what we are and this is why we’ve been on this kick of like money and our beliefs around it and our histories and all the issues around it is because you may think that you want money, but what you’re attracting is what you are.

 

05:05          And if your money, if you’re, your mindset is scarce, you’re attracting scarcity, right? If you’re, oh he also talked about like different classifications of people and like there’s freepo people who only want free things and cheapo people who only want cheap things and feepo people who are willing to pay a fee for the service. And there are prepo people who are willing to pay a premium and wherever you fall in that classification is the people that you’re attracting. So if you’re wondering why everyone you talked to wants your services, your products for free, look at yourself. And I’m like, and it’s funny because John and I just, I was a free pool. Cheapo for most of my life. I’m always looking at like, okay like how can I get the best discount? I know if I talk to that person cause like I know them, they’re a friend, they’re the owner.

 

05:49          They’re going to hook me up with a discount. Now I’m like, no, no more of that. I want, don’t give me a discount. I want to pray the premium that you have to offer me because I know that’s who I want in my atmosphere, in my ecosystem, in the people that I want to serve, or the people who are willing to pay a premium. It’s a universal law. People, what you put out is what you get, right? What you sow is what you read works every time. Yep. Okay, so let’s get into it. That was kind of like the precursor of what we want to talk about. And so the question today, John, is what is money, right? Yes. Like what is money? This is a really good question because we all have ideas about not just beliefs around money, but an idea of what money is, what money actually represents.

 

06:33          And so what we teach and what we’ve taught in our teacher training is that money is an energy. It’s energy, literally like energy. You put effort into something and for that effort you are reciprocated something. Now money as far as the paper itself is just the medium of exchange for that energy exchange. That’s it. It’s so simple. Yeah. And so what we do for somebody, if you’ve take it back far enough, you go back to like, so I’m going to help you build your barn and sounds good in exchange for that. You’re going to give me a Bushel of corn. But let’s say it’s, we build your barn at a time of year where your corn is not ready. So what do we do then? Right? You’ve got to give me a note that says here’s a note worth a Bushel of corn. But then I don’t, maybe I reap my garden and I don’t need corn right now, but I do need a sheep, right?

 

07:25          So I go to my neighbor and like, hey, I need a sheep and I heard that you need some corn. So here’s the note for Chris’s corn and I’ll take that in exchange for your sheep. And this is how the this nominee started. We used to be just an exchange. So when Chris says it’s an exchange of energy, literally is an exchange of energy, right? I did something for you and you gave me a note that represents that energy exchange so that I can go to somebody else and say, here, this is what this is, that energy exchange that I can get something else. Right? Yeah. So if it’s energy, it’s time and effort. You’ve put your time and effort into something of which is valuable enough for somebody to give you something in exchange for that. So my next question to you Chris, is it an equal exchange? Never. Now this blew my mind. So if you think about it like John just used the, we’ll just ride the corn first, build a barn like analogy 200 years ago.

 

08:22          Now that I think about it, we will stop that analogy and fast forward 200 years to present day, someone comes into your yoga studio and they say, I would like to pay you this hundred dollars for the two weeks of unlimited yoga. Okay, sounds good. You would think in your mind that as far as the value is concerned, the two are equal. It’s not. I always thought they were equal. I’m like, okay the, it’s an equal exchange. They are getting two weeks of unlimited yoga. I am getting $100 that’s the equal exchange and it’s not true. Is it John? No, it’s not. One of the, this was, this blew our minds. A friend of ours, Brad Gibb showed this on stage when we went to conference call funnel hacking live and he showed this on stage and we were like, but we’re going to brat on by the way.

 

09:12          Yeah, he’s coming on. Woo. Really excited. But so he showed us this as this exchange of like, so what happens where when I give you all, she used the same example, I’ll give you $100 Chris for a week of two weeks of yoga. I value that. Two weeks of yoga more than that $100 and I value that $100 more than the two weeks of yoga. It’s never an equal exchange because the value that I place on what I’m giving you is less than what I’m getting. This is so important to understand because if you look at it as an equal exchange, you’re going to be minimizing the value of the service or product that you’re offering the person your yoga. And this is what you see all over the places. Like every studio is just like at this, literally this like price war of race to the bottom of the barrel to see who can charge the least.

 

10:05          And perceptually what happens is people are like, oh, so you want like $30 for an entire month? Okay, yeah, I’ll do that. But you know, the value of what you’re offering is more than that and you’re minimizing it and they’re like, yeah, absolutely. And in their mind it’s not as valuable because they know man, 30 days for $30 of yoga that is a re it’s a great deal. But the value has been minimized to a point where they don’t really value it. And guess what happens when they finish that 30 days and you go to them and say, hey, would you like to actually practice consistently with us? Here’s a premium membership for a $130 what do you think the, how do you think they see it now? No thank you. What? I just paid $30 for a month. Now you want me to pay a hundred $130 for $130 per month?

 

10:57          No Way. Right? All the guys, it’s all value. It’s all value, right? If we initially do a, it’s called lb low barrier to entry offer, we have already set up like the pacing of the value of what our services is worth. And so when people finish that and they look at, okay, now I’m ready to jump in. And they see that it’s what, four times as much as they just paid for a month. It’s a hard pill for them to swallow. Yeah, and almost impossible. So if you’re a yoga studio and you’re like, man, why are my conversions from my introductory offer to my membership so low? Look at what people are paying for the introductory offer and then start now understanding this money value equation that’s not equal, you’ll start seeing like, man, the value that I’m placing on that introductory offer is so low that they’re not seeing the value of it because obviously we’re saying it’s not equal, but you, what we’ve done is we’ve distorted that equation so much so that perceptually they’re paying such a low rate that they don’t value it at all.

 

11:59          And so it’s so, so important. So money is an exchange. The exchange is never equal. And it’s our job to understand what our value is to then express it to the lead or whoever that is coming into your doors, that you want to be a part of your tribe, a part of your community, and hold the value to a point and place in a value on that service that they see it and they’re willing to pay for it because they’re coming in to solve a problem. Right? And that problem for them is valuable to be solved. And if you know you can do it and you charge enough for all the sudden, man, them getting that problem solved is worth way more than the money they’re giving you and you knowing that the money that you need to keep the doors open, to pay your teachers to keep the lights on and keep the heat rolling, to keep everything that you need going to keep offering that service is that money is way more important than way more valuable than the actual service you’re providing.

 

12:53          I know I can hear if like your yoga is and you’re like, wait a second, that’s more valuable. The money is more valuable than the service. Yes. In the exchange because of what it provides for your studio and for the community. So another topic that we want to touch on around money is time, right? And so there’s this idea that, and you hear all the time at time equals what? Money. Time equals money. Money is time. Time is money. Chris, does time equal money? No, it doesn’t. It does not equal money. It’s not even close. Time is infinitely more valuable than money. Y. Here’s an example. Again, this is from the great mentor himself, Myron Golden, so we’re at [inaudible] and he said, all right, listen, here’s the deal. You’ve all heard, money is time. Time is money. Yes. And he was like, all right, let me prove to you that it is not.

 

13:40          He said right now if I were to give you $100,000 what’d you say? Yes. If so, say yes, yes. And he said, okay, here’s the contingency, the condition that is, here’s the condition on me giving you that $100,000 when I give it to you immediately you’re going to die. Would you still take the a hundred thousand dollars no, thank you. Why? Because I just took time. The rest of your life away from you just like that. Now time does not equal money because it’s more valuable than money because you would give anything to have more time with the people that you love doing what you love, period. Now what’s cool is that money can buy your time back when you’re able to make enough of it that it frees you from the mental constraint of like wondering how am I going to keep the doors open? How am I going to pay my teachers?

 

14:35          How am I going to make payroll? How am I going to put the lights on? How am I going to buy supplies? How am I going to, like all of the small business owner struggles and stresses that we go through, like when money is constraint is a constraint for you that way, like lose time because you’re always thinking about how am I going to make it? How’s this going to work? Right? And so what money can do now, it’s not equal to time, but what money can do is help you get part of your time back so that you can be free to work on the business, not in the business. And doing that frees you up to pull the levers in your business that actually can make you more money and then free up your time even more. So what Chris is saying simply is that we can get money back.

 

15:20          We cannot get time back. Right? Time is… Once the time is gone, it is gone. It is done. And with the… they have conversations with people that are all at the very end of their life, and you never hear them say, ”I wish I had more money.” Right? They always wish they had a little bit more time with their loved ones. And, so that’s what it comes down to you guys is, we need to, create a life that’s on purpose, create a life that, we have the time to do what we want to do, when we want to do it, with who we want to do it with. And that’s why it’s important to learn, to understand, to implement, and to take massive action. Yeah. So, thank you so much for listening to this episode. We hope there were some… little gold nuggets in there to help you in your journey. We appreciate you. Peace.

 

16:03          Yes. thanks so much for listening to Yoga Entrepreneur Secrets. Do you have a question that you’d like us to answer raw and uncut on the podcast? If you want your questions answered, all you need to do is head over to Apple Podcasts, and do three simple things. One; rate and review telling us what you think of the podcast. Two; in that review, ask anything you want related to yoga, and three; if you want to shout out, leave your Instagram handle or name and that’s it. Then listen in to hear your question answered Live, raw and uncut. Join us next time on Yoga Entrepreneur Secrets Podcast. Thanks

18
Sep

13: How You Do Anything is How You Do Everything – Overcoming the Patterns That Hold Your Business Back

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What Is This Episode About…

In this episode, we are going to discuss the idea that how we do anything is how we do everything and dive into the fact that our personal patterns, especially around money, affect our businesses more than we know.

Whatever it is that you want to achieve, be it personal or business, if you believe in it wholeheartedly, then you must be willing to invest everything you have into it. We hope this episode helps you identify the patterns that are holding you back, so you can achieve the success you desire.

Key Points Discussed:

  • The root of yoga is to help shift perception (01:37)
  • Being an entrepreneur means taking the risk of putting yourself out there (03:19)
  • Your personal finance patterns will follow you into your business (07:01)
  • You have to look at your key performance indicators (10:12)
  • The patterns that influence how we operate personally and professionally (16:19)

 

Learn More About The Content Discussed…

Join The Facebook Group –> http://bit.ly/yogaentrepreneur

When Was It Released…

This episode was released September 18, 2019

Episode Transcript…

Disclaimer: The Transcript Is Auto-Generated And May Contain Spelling And Grammar Errors

 

00:00          Alright. Welcome. And, today’s episode, “How you do anything is how you do everything.” We talk.. What does that mean, John. We talked last time about the patterns that we have, specifically around money, and what we want to talk about today is, as an entrepreneur, how do those personal patterns affect our business?

 

00:23          What’s up everyone? You are listening to Yoga Entrepreneur Secrets. I am Chris Yax, and I’m John Yax. We are part of a small group of yoga entrepreneurs who are committed to making a living, doing what we love, without feeling guilty about making money, or ashamed of being successful, because we know the real value of yoga and how the world needs it now more than ever. This podcast is here to teach the strategies and tactics so we can thrive financially as yoga entrepreneurs. We are the Yax brothers and welcome to Yoga Entrepreneur Secrets.

 

00:54          Alright. So, last time we got to talk about Chris’s personal financial issues. I still have a vulnerability hangover happening from that one. I feel so good about it. And before that, I got to talk about my financial issues. And, Chris and I were talking about it and we were like, “So what…? So, how does this affect other entrepreneurs?” Because one of the biggest things that we all struggle with as entrepreneurs and as people in general are… are money issues. Right? Money is an energy, it’s a tool. It’s… you know, we have different ideas around how to make it, how to hold onto it, how to build it, and then what it means to us personally. And so the idea is, “How we do anything is how we do everything.”

 

01:37          How would do anything is how we do everything. So this is really interesting because, in the yoga world, like you take, like the roots of yoga, and what it’s really designed to do. It’s to help shift perception. Right? How you viewed world, first and foremost, how you view yourself. And so, it’s literally like, the oldest personal development system ever created. But what’s so interesting… so we’ve been in it and we’ve been, obviously, since been practicing since 2002, three teachings since 2004, owning businesses in 2005, so we’ve been in it for a while, and it was about 2015 when we really started, like we saw the future, and we realized what was going to happen within our business, and what needed to happen was we needed to like level up our understanding of marketing, of advertising, and business, and finances, all that stuff. So these last four years have been crazy big deep dive.

 

02:26          Well, we’ve hired coaches, we’ve join mastermind programs, we’ve like done all the things that we knew needed to happen to be able to level up our games, so that we can like effectively run our business. And what’s so fascinating is we were going into these programs thinking, “Oh wait, we’re going to learn like how to market. We’re gonna learn about messaging, we’re gonna learn about offer creation, we’re gonna learn how to like the KPIs of your business”, which we’ll talk about a little bit. And, invariably what they would start with was, we have to talk about how you feel about yourself. I was like, “Wait a second, they’re talking about yoga.” What it highlighted for us is that, entrepreneurship is the best personal development called the system… personal development path that we can take. And the reason is, is that, it’s entrepreneurship or yoga. And so, when you’re a yoga entrepreneur, you are doubling down on your personal development.

 

03:19          You go super fast. When you decide to be an entrepreneur, it means you are taking the risk of putting yourself out there. Right? In more ways than one. Not just your passion and saying, “Okay. This is what I love and this is how I’m going.. what I’m going to present to the world, and this, is what I want to make a living doing.” But it also… it’s all on our shoulders. Right? So if you’re working for somebody else, you can be passionate about the work, and do it completely, but it’s up to the other person to take care of all of it. You’re still gonna get a paycheck, whether you decide about whether… whether you decide to come in or not. Right? You’d take a sick day, you take a couple of days off, you take a vacation, you do. You don’t have to look at the details of the business, and you still get a paycheck.

 

04:05          As an entrepreneur, you then put it all on your shoulders. Is it, there’s a funny saying, it’s like I’m giving up my 40 hour work week for an 80 hour work week as an entrepreneur because I’m a control freak. Right? Because we love the control of it because it’s rests on our shoulders. Now it’s the most powerful personal development system because it’s up to us whether we succeed or fail. Right. Yeah. Yeah. It’s interesting cause like part of it, let’s be, I want to back up just a little bit and like what we’re saying is that you believe so wholeheartedly and what you’re doing, whatever it is that business is for us, it’s yoga. We believe so wholeheartedly in it that we are willing to invest everything we have. Like in the beginning, in 2005 we invested everything we had for this thing. To run. Like if we failed, we lost it all.

 

04:55          And that level of commitment requires you to put yourself out there in a way that exposes you, literally exposes you, like to believe in something so wholeheartedly that you’re willing to say, hey everyone, here’s my message. Yoga, like from martial artists who and like, and I want you to pay for these services. In fact, I am going to open up a yoga studio, a hot yoga studio for us, and I’d love you to come in and let me talk to you about what Yoga is and let me help you heal the pain that you have. Like your, there’s an emotional exposure that happens when you’re willing first to go all in on your dreams, right? Because it is like such a heavy commitment to know that I can no longer blame anybody else for my success or my failure, but me, period. And that, so that’s growth inspiring because man, talk about like all the pressure on your shoulders and you’re going to pull up big boy pants, John, or you’re not right.

 

06:00          Put my boots on, but my boots on. And so the next level is, okay, so I’ve made that commitment. I’ve put all that pressure on myself because I believe in it so wholeheartedly. But then it’s the willingness to share that message and the moment you open yourself up to that, all of a sudden you’re exposing yourself to haters, to people who want to throw shade at people who aren’t in the arena, who haven’t committed to that, but who have very strong opinions in the social world. We live in about what your message means to them or not. And so by virtue of you having to then express yourself in a way that most likely isn’t in the mainstream, isn’t in the norm, especially back in 2005 when we started this, it was not like you weren’t seeing it on pharmaceutical advertisements. You weren’t seeing on, on every like grocery store advertisement and people doing yoga and it was like how it represents health now, like, and so the willingness, especially with men teaching it. Yeah, no doubt, no doubt the willingness to go there, right. It just, you can’t help but grow in the process by virtue of what it means

 

07:01          to be able to, to have, to, to be successful in your business as an entrepreneur. Yeah. And then the other piece of this, which is vitally important when you can get over all of that, what Chris has said is bringing your financial money issues into your business because it’s going to go there, right? You’re all of a sudden you start to create a following, you start to get traction. You’re cheap. You’re able to pay the bills every month, and that at some point you’re able to give yourself a little salary and start to build that, right? Your patterns, your own personal financial patterns or your own budgeting patterns, your own even ideas and feelings about money are gonna follow you right into your business. And so what’s required of us is to take a real look at that and say, are these, is my feelings around money? Is My, are my patterns actually serving me? Are They gonna help me? Not just personally, but in my business and be able to organize my finances in my business to continue to keep the doors open or is it that little parasite that’s all the sudden going to eat its host, right. That’s going to take over and all of a sudden I have to close the doors because I haven’t managed my money because I’m bringing myself to it. How we do anything is how we do everything.

 

08:10          Yeah. So back in 2016 it was actually the end of 2016 is that right? No, it was the end of 2016 the very beginning. So January one, 2017, the structure of our partnership completely changed how we bought out one partner. Uh, we separated from the other one all amicable. It was all like it was, it was, it was right for everyone. You know, the partnership, the way I think of it was like, it was like a shoe that just didn’t fit anymore. So we had to replace the shoe and put on a different one. And for everyone, it’s all worked out well. So, but what happened prior to that? This is what I was saying, like, man, we knew we had to level up our game. Now financially, what that meant was we were on the hook to learn and to know all of it.

 

08:54          So back in 2005, one of the things that we knew we didn’t know was I didn’t understand, like I even went to, I went to business school, but I knew I wasn’t qualified to run the finances of our business. You know, you may have felt differently, but what we decided collectively to do was to bring on a partner who understood that, right? And who was in that world and who could manage that. Fast forward to 2015 we realized, man, that’s not our reality anymore. Like that person. Like we’re buying that person out. Like we’re, we’re moving on, on her own. And so there was a period of time after that where we stayed with the same bookkeeper and we were looking. So, and she, you know, she’s old school, you know, and I think she liked the big green accounting book that was like no longer in existence.

 

09:40          Like it’s all automated now. But, uh, God bless, I love her. I’m not talking, I’m not talking smack about her at all, but she was just, there’s, here it is. She was stuck in her ways. Her pattern was an old school way of doing it where the system that we used was not cloud-based. There you needed eight passwords to be able to hack into it. No two people could be in it at the same time. And so what that meant for us as we’re like trying to venture in and run our own business and look at the numbers was that we were literally operating for the future

 

10:12          while looking behind months in the past months, it’d be like driving a car forward, looking in the rear view mirror to steer what, yeah. That’s great. So this brings up another key point of, and this is a huge transition for us. W W uh, studying with our mentors and our coaches. Chris and I dove deep and got a lot of help and we just consumed information, which was also, you know, it’s, it’s interesting there’s was a vulnerability there, right? We had already become successful in our business. And yeah, we got to a point where we were like, we don’t know this information. Like we need to study with people that have good strategies, good frameworks to help us. And one of the big things that one of our teachers talked about was KPIs, key performance indicators. And so if you are an entrepreneur, you’re a business owner. If you do, you have to look at your key performance indicators.

 

11:01          Key performance indicators are like if you were highlight in a plane and if you’re flying a plane and you were doing it during the day, it’s kind of easy to fly during the day. I don’t know about flying if it is or not. I don’t, I don’t fly. So, but I mean you, you literally can use your eyes. That’s my point, right? You can see if a mountains coming from behind, you can see if you’re too close to the ground. Right? You can see around now that same pilot has to fly at night. That same pilot has to fly during a rainstorm in the clouds. Right. How do they fly? They fly off their numbers at night, they fly off their numbers, their measurements, their reading, their measurements are reading their numbers, they understand how far away they are, how far off the ground they are. They understand all of it based off their numbers. Your business is the exact same thing, right? When everything’s beautiful and the sun is out, when you can see clearly in money’s coming in and you’re doing well,

 

11:54          you’re like, oh, I don’t need to look at my numbers. Everything’s cool. But when it gets dark,

 

11:59          when the, when the storm comes, if you’re not looking at your numbers, you crash.

 

12:04          And this is the, this was what our blah, this is a huge, this was

 

12:08          the biggest Aha moments for Chris and I were like, all right, we got to get down and uh, serious about looking at our KPIs. So we started just regularly looking at these, these key numbers in our business weekly and then these key numbers monthly and then being so consistent with it that we could start to pick up the patterns. And that was one of the keys when we started seeing these patterns. We can make little tweaks in our business to, to shift the pattern if it wasn’t where we wanted it to be and that it was the game changer for me.

 

12:40          Yeah, so some examples of the, like some KPIs like for sr sales, total sales numbers, numbers of memberships, the number of new people coming in, the percentage of those people that have bought an intro package, the percentage of the intro package, people that have purchased another package, those conversion rates are huge. It’s literally the oxygen that fuels the lungs of our business, right? It’s the lifeblood of it. And understanding that on a weekly and biweekly basis gives us a very clear understanding of how much oxygen do we have in our system right now. Do we need more meaning we can make decisions in the now,

 

13:18          bye

 

13:19          if by looking at numbers in the very like the most recent past so that we don’t have to go months and months and months and wonder what happened, how do we end up where we are? Right? And so what’s so interesting about this is that this is no different than like your own personal life. Like we end up, I know in my relationship I, we talk about it in the teacher trainings we do. I’m like, I’m very binary with this. Like in my relationship with my wife, if there’s any tension between us, I look at that as the beginning of the end. We have an awesome relationship, so like if I love her to death, I guarantee I will be with her for the rest of my life. Period. You can mark this podcast episode as I just threw the gauntlet down. That’s what’s going to happen and I believe it wholeheartedly and I know it’s true.

 

14:06          It’s because I know in real-time when something’s amiss between us, I have to resolve it. Why not? What you’re seeing is trends, right, Chris? Yeah, because looking at the trends. Yeah, there’s a great book. It was essentialism. I think it was essentially some or the one thing. Either one of those books are awesome. You should read both of them, but it was as actually was essential as, I mean they’re talking about trying to find the leads in your life. Journalism at its heart is trying to find the lead, what the lead isn’t like. It’s not the story that’s presented. It’s what does the story mean? It’s not all the details, it’s what’s embedded in those details as far as the meaning of what’s happening now and what does that mean for the future. And what I mean by that is like the KPIs are those details.

 

14:50          There are leads there that are going to give you the information that you need to make changes to keep the business running on of like a very sound financial footing for my relationship. The leads are the experiences, the feelings that I have between my wife and I. And this is all relationships and I’m just using this as an example that are giving me the trends in our relationship that will influence the way we feel about each other tomorrow and the next day and the next day. So I, I mean it sincerely, like when I’m, when there’s tension, I have to resolve it as soon as possible because I know the potential of what that’s gonna mean. The lead in that story is there is some dysfunction on our horizon. There is some tension on a horizon and if you know it in your own relationships like you know it’s not one big thing.

 

15:38          It’s a lot of little things that just fill the gaps and create space and friction and tension between two people. It’s no different in business there’s a lot, there’s little decisions that are made and little like spaces that fill up in between where you want to be and where you are that if you’re not looking at them regularly it’s you look back just as I would my relationship and be like, how did we end up here? Are for looking at my business like how do we end up here? Or your personal finances. You end up going on a shopping spree every Saturday. That’s what you do and all of a sudden you’re spending more than you’re bringing in, but maybe just not my whole lot and then three or four months down the road you look back and you’re like, how did I end up in debt?

 

16:19          How did I end up here? It’s the same thing for your business. The same thing for your relationships. It is the same thing. We have to stop, take stock of where we are, look at our KPIs, your key performance indicators in our personal finances, in our relationships, in your business, in order to change what’s not working and then shifted into a way that is working so that you can be successful with it in any realm. Right? We have to see our numbers. Yep. So here’s the takeaway. There is a pattern that you have in your life. Just like I have patterns in my life and John has patterns in his life that are influencing the way we operate personally and professionally. [inaudible] looking at those as just facts, not as like the story of me and what that like and all the things that it means because of that, but just pure facts.

 

17:12          Oh, when this happens, I do this and when that happens I do that. Understanding that is like, it’s literally hacking in to your own experiences so that they don’t sabotage. Like the beauty in the effort and all the hard work and the sacrifice that you’ve put in to like being an entrepreneur and doing the work of like putting it all out there and like, like taking a stand for what you believe in and what you love because how you do anything is how you do everything. When we focus on those things and we get clear about the facts of the life, of facts of our lives, where these are just the patterns I can then that’s the first step and understanding, oh, will or will not

 

17:50          allow that to bleed into this other area. Yeah, and then it’s understanding the lifeblood, the numbers, the KPIs because the numbers aren’t emotional. Like Krista said, the numbers are just the facts, but they’re a map. They show you where you’ve been and they’re a great projection of where you’re going to go. So that’s all I got. That’s it. Thank you so much

 

18:11          for joining us for this episode. I hope you enjoyed it and we will see you on the next one. Thanks so much. Have a face. Yes, thanks so much for listening to Yoga Entrepreneur Secrets. Do you have a question that you’d like us to answer raw and uncut on the podcast? If you want your questions answered, all you need to do is head over to Apple Podcasts, and do three simple things. One; rate and review telling us what you think of the podcast. Two; in that review, ask anything you want related to yoga, and three; if you want to shout out, leave your Instagram handle or name and that’s it. Then listen in to hear your question answered Live, raw and uncut. Join us next time on Yoga Entrepreneur Secrets Podcast. Thanks

11
Sep

12: How To Overcome Money Issues (Chris’s Story)

personal finance yoga

What Is This Episode About…

In this episode, it’s Chris’s turn to talk about his experiences growing up in a family that was on welfare and struggling to make ends meet. John will interview him about growing up as the youngest in the family, seeing his mom struggle financially, and the dysfunctional patterns that he formed from that.

They will also dive into his money issues, and how he overcame them when his responsibilities in life increased. Tune in and enjoy!

Key Points Discussed:

  • Growing up as the youngest of six kids (02:37)
  • The survival instincts to get food (05:18)
  • The moment that wired Chris for financial dysfunction (06:44)
  • Ignoring budgeting and piling up debt (09:40)
  • The turning point towards being financially responsible (12:47)
  • Being aware and conscious of the patterns (17:36)

 

Learn More About The Content Discussed…

Join The Facebook Group –> http://bit.ly/yogaentrepreneur

Some other resources related to personal finance:

Books 📗

➡️ The Millionaire Next Door

➡️ I Will Teach You to Be Rich

➡️ The Index Card 

Online Resources 💻

➡️ https://www.thesimpledollar.com/

➡️ https://www.nerdwallet.com/

➡️ https://www.reddit.com/r/personalfinance/

When Was It Released…

This episode was released September 11, 2019

Episode Transcript…

Disclaimer: The Transcript Is Auto-Generated And May Contain Spelling And Grammar Errors

 

00:00          Best story I could tell about like, the money thing, was I remember being at the store, and so, we were in the checkout line, she’s balancing her checkbook, and she realized she didn’t have enough money, and she looks at me, because as we are shopping, I was like, “Hey mom. Can I get this, and can I get that?” And she’s a sweetheart. So, she said yes to everything, and says, “Hey Christopher, do you really want this? Because, we can buy it, but we may have to give something else back.” And I remember the embarrassment. I wanted to curl up into the fetal position in a cave and die.

 

00:32          What’s up everyone? You are listening to Yoga Entrepreneur Secrets. I am Chris Yax, and I’m John Yax. We are part of a small group of yoga entrepreneurs who are committed to making a living, doing what we love, without feeling guilty about making money, or ashamed of being successful, because we know the real value of yoga and how the world needs it now more than ever. This podcast is here to teach the strategies and tactics so we can thrive financially as yoga entrepreneurs. We are the Yax brothers and welcome to Yoga Entrepreneur Secrets.

 

01:02          I am so not excited about this one today. So, the last episode, we got to talk a little bit about money on my side, my issues, and what’s… growing up in a family of six siblings and then mom and dad, but basically mom, raising us. How you’re so incredibly crazy. Yeah, totally. How we… how we all grew up in a family of that… basically were raised on welfare, my mom taking care of six kids and… and then just the struggle of it, and now more important than that, is like, is the patterning, the issues that creates as you’re being raised in that way, and how that affects your future self. So we got to dive deep on my stuff last time, so we’re going to flip the script, and I’m going to interview… Alright. That’s it. Great show today, John. Let’s move on. We’re going to flip it and throw it back at Chris a little bit because, what we talked about last time, one of the fascinating things is that Chris and I are four years apart, and we grew up, obviously we grew up in the same family, but how… what I saw being four years older created the patterns in me in a certain way, and what Chris experienced, same exact experiences, but just being four years younger created similar, and different patterns in him.

 

02:13          So…

 

02:14          Yeah, yeah. The way it gets interpreted. Like at four years, especially when you’re younger, four years is like… like an ocean of difference in your cognitive ability, how you’re seeing things, why you’re seeing things. And so, as you experience, so we say we experience the same thing, but really, we didn’t experience the same thing because the way we interpreted those experiences were totally different, which is so fascinating. Yeah. So let’s dig in. You ready for this guys?

 

02:37          No. No, I’m not. Alright, let’s start with what did it feel like growing up in a family with five brothers and sisters. So it’s six of us, and being the youngest, and being the rant. You were actually kind of small for a little while. I didn’t really start growing until I was in 11th grade. That is no joke. I think I was five-two until…

 

03:01          we played basketball. He could hit some three-pointers. He was like a point guard bugs him alone. Muggsy he was the little guy in the Al side. Oh, Malin. The three-pointers, but I digress. So what did it feel like being the youngest and growing up in and growing up in our family? It was challenging for sure. I mean, I didn’t have all the like a room or a bed, the log cemetery for the luxuries of my life out there. There’s a seriously a good period of time, years where my bed was the couch and that’s when I was living. I would literally have to be like, hey guys, I need to go to bed now. I’m going to turn the TV off and you need to go into your room because you’re in my room on my bed on this couch. And so it was tough in ways.

 

03:45          It was awesome and ways to like, so the struggle was there prior to dad leaving, but I was so young, I was like two years old when they two or three years old when they ended up splitting up. The struggle got more intense after he left, obviously mentally, emotionally for my mom. But what it also did for me and for the brothers and sisters, which is one of the reasons why I thank my dad for all the choices that he made, is that it allowed us to bond together and like we actually supported each other and like the support system was no longer like mom and looking to mom and dad for the guidance and the discipline. For me it was looking to like you and Jimmy and the older sisters, cause I was the youngest for that guidance, for that discipline and to like learn what it was like to be a human being in this world.

 

04:29          Now being the youngest, there was always this feeling of like, man, there’s not going to be enough food. I’ll tell two stories. I remember mom coming home the weekly grocery shopping, right. And it was like she would come back with like a hundred bags and like load up the refrigerator and it was like starving wolves. Like they would all come in and in my mind, it was like a cartoon where they’re like, like food flies everywhere, like clothes and like hair and like everyone’s just like devouring each other. And I’m the youngest so I’m not getting in the melee. I’m just waiting. So then I started getting smart about it and like once she would come home, I would start grabbing food and like hiding it and behind places and things that I knew, like they wouldn’t go behind the lettuce. So that’s where I’d put like Turkey and the Cheese to make sure that I could eat.

 

05:18          So I joke. But I mean literally it was like a survival instinct to make sure that I was going to have food the next day. And so I would go and hide shit and like just make sure that I have food cause it was, and there’s something instinctual about being the youngest I think. And if you’re like the youngest in your family, you’ll probably resonate with this. Where like survival’s not guaranteed man. Like you’re not like you, you were the lowest on the totem pole. So that’s one story that was like, and that food thing came to talk about pattern like core pattern. That food thing came up a lot later on in my life as far as the dysfunctional pattern that I had to work through. But maybe the like the best example, the best story I could tell about like the money thing was I was, I remember being at the store and my mom had a full grocery cart.

 

06:05          Right. And so we’re in the checkout line and the cashier’s ringing us up and ringing us up. And this is like the time where like my mom would have her checkbook out and we got the total, she’s balancing her checkbook in the line. Like, and this is prior to like everyone using a card. So I don’t think people were like rushed or like pissed off that she was balancing your checkbook. But now like you’d get like you’d get kicked out of the grocery store if you tried to balance your checkbook in front of people and she realized she didn’t have enough money. This is late eighties probably late eighties early nineties maybe. Yeah, she didn’t have enough money and like she looks at me because that’s where a shopping, I was like, hey mom, can I get this and can I get that? Can I get this? And she, you know, she’s man sweetheart.

 

06:44          That’s a crazy warm-hearted person. So she said yes to everything, realize she doesn’t have money looks at me and says, Hey Christopher, do you really want this because we can buy it but we may have to give something else back. And I remember like the embarrassment, like I wanted to curl up into the fetal position in a cave and die and I just like, I couldn’t even answer. I just walked away. I’m maybe like seven years old at this point. I walk away and I’m like, please God, kill me. Like, get me out of this scenario please. Just, I want to avoid that feeling of embarrassment of like not having enough money and then my mom asking me if I’m okay with putting something back and like I felt like everyone knew we were poor at that point. And like somehow I was responsible because I asked for too many things that we didn’t have enough money to buy all this stuff. And so that one experience like stuck with me, there’s, you know we’ve talked about patterning the way of like building a pattern in your mind. Literally your brain is to have one really, really strong like traumatic event. Like wire it tight off the first go or to do things a little bit, a lot over a longer period of time. That was one event where it was like one moment and you’re like wired for dysfunction financially for the rest of your life. That was me.

 

08:03          So an example of this would be like if the stove is hot and you reach in your little, you’re young, you reach up to touch the top of the stove and you burn your hand. You only have to do that one time. Like it’s wired I, that is a pattern that is there. And then doing these little things over and over again to build deeper patterns is what most of us build patterns with. And uh, so that experience was like, burn your hand on the stove. [inaudible] so hard printed it imprinted deep.

 

08:28          And it was reinforced by like, every time I would see her have to pay a bill. And like I talked about last time, I literally like every time, like I pay a bill now I’m like, I hear her, oh, I don’t know where the money’s going to come from. And so she would like, and I see that and she was so open about it, she didn’t try to hide any of it from us. So like all her, the are emotions and the mental anguish and the financial struggle was all like, they’re just available to us to hear and to see. And so like not only was that like the burned wired tight into my brain event, but it was then reinforced like, oh yeah, every time, like every week a bill comes in [inaudible]

 

09:07          how much money you don’t have and how poor we really are. So let’s fast forward a little bit. As you get older and you start to have responsibilities, you get job, you started to make money. How did those patterns kind of play out in your day to day? Was it easy to buy things for you or is it easy to buy smaller price things more difficult, buy more expensive things. How did that affect your managing your finances as you got, as you started getting older and actually making money? What’s funny, because this is last time in the last episode, I was like, man, if you went the entire like 180 degrees opposite from where I went with it. So you are like, I’m going to [inaudible]

 

09:40          learn about it, I’m going to like control it and I’m gonna figure it out so I’ll never have to deal with it. And I was like, I’m going to run away from it. I’m going to bury my head in the sand and if I never look at it and I avoid it long enough, it’ll just disappear and so and so I didn’t, it was like small purchases. When I knew I had money I was like, okay, that’s no big deal, but I would never look to see if I had enough. I would literally be like, here we go. Like bigger purchases. I knew like I had to like I couldn’t bounce a check, I couldn’t, but I didn’t really like I knew generally how much money I had, but like specific expenses and income and like what was going out and what was coming in, I will fully disregarded it. I didn’t want to look at it. I didn’t want to experience it. I didn’t want to know cause if I didn’t know then I wouldn’t have to deal with the reality of how little I had or how struggle, how tight finances actually work. So I actually just, I was like, if I don’t learn about it then I’m just as good as I am now. And that moment when I ran away in the grocery store was just replayed over and over again in different ways as I got older.

 

10:47          Mm, yeah. Yeah. It’s funny, I never really thought about that until now, but that literally it was like the representation of how I responded for the rest of my life was burned and wired in the grocery store as I was seven years old. And when we talk about this, it’s like when I decided to dive deep, I didn’t all of a sudden start studying like finance books and like the art of making money or like how to, how to invest. I just was like, how the hell do you just budget money? Yeah. Like how do people budget their money? Like what are good strategies to budget money? And what it sounds like is like you’re like that. I’m going to go in the other way. Sorry to throw an f bomb out there guys. But you’re like, I don’t even want to understand how to budget. I’m just going to very much like you said, bear my head in the sand and roll. See where I end up.

 

11:32          Yeah. And it didn’t work out good. That didn’t turn out good. Like I bounced a lot of checks. I didn’t have money. I had to find out like through more embarrassment of like, oh by the way you just got an email from your bank and you overdrafted again. Oh and by the way, when we asked you for overdraft protection, you said no because you thought it wasn’t worth it. So I mean it bit me every single time but so you know, so I’ll fast forward even more and all the sudden like I graduate from college and I’m super in debt. I decide I’m not going to go get that corporate career job cause I was international business major and I like emphasized and Europe and I studied abroad and so I was all set up to like start making money. German and minor in German.

 

12:17          I was like two classes away from a double major in German and international business. The smart kid not financially. And then let’s pause this just cause I want to make, I want to highlight this point. You majored in business. Yes I did. Right? You majored in not just business, international business. Yes I did. And your personal finances, you were struggling. You were struggling at that time even right. Cause the person was more like an elementary school level understanding of finances and money. So what was the turning point? The turning point was when we opened up hothouse, right. So it was interesting cause we had a martial arts academy, like it was backyard style. So we had it in our home and I got to a point where like I was waiting tables, I was going to school, I was like teaching classes regularly. I was training like crazy and I was living like pretty modestly.

 

13:09          Like you and I were living together and so I didn’t have a lot of expenses so I didn’t even at that point have to look at them. I didn’t have to, I was good to go. And then, and I was making more money than, and I just knew like I’m making way more money than the money that’s going out. So I’m just good to go. Which was like it was good, but it was also bad cause it just reinforced the same behavior of me not looking at the money that I had and needing to really like organize it and make sure I could be, I wasn’t thinking about saving, I wasn’t thinking about the future. I was literally just like what day to day, week to week, month to month, which sounds like super, I’ll go in for the flow. You know, I’ve got, I don’t have to worry about the future.

 

13:46          The time now. Always now. No. So when we buy finances, go with universal provide man. No. So then all of a sudden like we opened up hothouse and like what I guarantee I took a pay cut because we didn’t like, we knew like at that point we had partners and we knew what our expenses were within the business and we knew what we couldn’t do and I knew personally, but the amount of time and effort that was putting into it, the amount of money I was getting out, like I had this really start looking at it. So the answer is that the turning point was like getting more responsibility and having to do it because of the consequence of not doing it. Like so high was so much increased some prior in my life that there was, the turning point was you can’t do this.

 

14:35          And it’s not just for me personally because now there’s other people who are at stake here. You not taking care of like me not taking care of my finances could potentially harm my partners, my business. And at that point I was like, no, this has got to get right because I can no longer operate this way because it’s now not just about me. It’s about other people. Fast forward even more. And I got married. Hello? Yeah, I was just gonna ask about that because as you get older, you start to stack responsibility and then it’s not about you anymore. And what happens with a lot of people I think is that they, like even when they make a commitment to somebody else, they still hold to their old patterns and then all of a sudden that other person’s wrapped in their chaos and their dysfunction.

 

15:21          And then fast forward a little more and you have kids with kids with that person. And if you don’t make an effort to say enough, it is time to change these patterns. If they are not serving me, they’re definitely not going to serve my spouse and they’re definitely not going to serve my kids. It is time to make a damn change. Yeah. It’s funny because you’ll do more for other people than you’ll do for yourself typically. And that’s exactly what like the spur was for me was it started with business partners and realizing that I’m like we have money, we have our house on the line, I cannot mess around anymore. And then it was like increase the intensity and the pressure with having a wife like triple fold the intensity and pressure wants to have a kid than a second kid. And what also started happening is like man, expense has started just ballooning because you got kids, man.

 

16:05          I got like, you know, labor and delivery and the whole birthing process and then all the, how do you keep them alive? Like you gotta buy stuff to keep them alive like food and like high chairs and car seats and strollers like stuff. I’m like, oh my God. So all of a sudden I had to be very like much more dialed in personally with my finances and this, it was interesting what ended up happening too is that was kind of what the pressure built in that and it was, we’ll talk about this in another podcast, but it was one of the reasons why the partnership had to change at a certain point was because I, the pressure of needing to make more and to have more control over my own life was bumping up against the amount of expenses that I had and how I couldn’t control that with the partnership that we had.

 

16:50          Yeah. So yeah. So all that to say like the, I wish there was a magic bullet. I know like, cause we all have patterns like, and it’s not like are you patterned or not, it’s what patterns do you have that are functional and what patterns do you have that are dysfunctional? And this is like Yoga One oh one we’re pattern to see the world in a specific way based on our upbringing. Like we’re talking about money, but it’s, I talked about earlier, like I have food patterns I’ve got, so we’re talking about relationships, patterns of relationships, how I viewed the world in relationship to money, how have you, the world relationship to food, how have you, the world in relationship to working out, health, eating, diet, all of it. And so like I wish once you became like aware of it, that was enough to dispel it and like you’re done.

 

17:36          Like, Oh, I’ve got a money issue. I’m now aware of the money issue and now I no longer have the money issue. I read a book and it’s all gone. Yeah. Oh my God. Done. So the answer really is like, so if you hear this, you’re like, man, that’s great. Good stories. Now what? Like who cares is like, this is like what I said Yoga One oh one it’s what meditation does for you. What Yoga is designed. Like I say meditation because that’s Yoga and yoga. Asana, which is a supplement to meditation and what that does for you is it gives you one awareness. I can now be aware and conscious of my patterns that don’t serve me, my that feeling that comes up when I have to pay a bill. That feeling that comes up when it’s taxis and the feeling that comes up when I know I’m getting paid and I’m not sure how much money we have and like I need to look at it and be proactive about it.

 

18:21          That awareness is first the impulse of feeling a certain way. For me, the impulse of wanting to run away and bury my head again. Like, no, that’s not, that’s I can’t work. My life doesn’t support that anymore. And so that impulse control is the, the desire to feel that and to do that, to act on it and to not, right. So I have the awareness, I have the impulse control and that ability to not act on it is how we start changing behaviors, how we start changing habits. And then it’s like for me, I think that goes the third part of it is empathy, right? To recognize that in my relationship it’s not just about me. I have to feel and understand where others are. And then that was like, I guess the biggest, strongest push for me was to, to change those behaviors, to have that impulse control, to actually like change how I was behaving in relationship to money because of understanding how other people would be affected by it.

 

19:11          Yeah, that’s huge. Yeah. That’s huge. And then when you have all of those things, then the three ways to change it are your story. Yeah. Your state or strategy. Yeah. And with this, for me personally, this was the strategy piece of, of what does a simple way of budgeting money? What’s a simple way of looking at it weekly? What’s a simple way of understanding it? What’s a simple way of building it, right? Simple way of being able to approach this subject so that I have better control over it. Yeah, exactly right. And so if you’re listening to this, you’re like, wait, this is yoga entrepreneur secrets. Like where’s the secret as an entrepreneur for yoga? Well, the secret as a yoga entrepreneur is your patterned, and we’re going to talk about it in the next episode about money specifically about how you view money and that vantage point.

 

19:57          That viewpoint of money is a pattern of thinking. It’s evil or thinking it’s wonderful or thinking whatever it is like and it’s affecting the decisions you make as an entrepreneur basing at your like services and the price you charge for your services is going to be a reflection of the pattern that you have around money. And this is what we’ll talk about later. We wanted to tell our stories behind it because it’s important for you to understand like, man, we where we are now. Like if you look at our circumstances, we shouldn’t be here, right? I should be like dying slowly in a trailer, worried about the river.

 

20:34          Oh my God. And I’m not because of yoga, because of the practice. So this is what we have the like this beautiful opportunity to do as yoga teachers, as yoga entrepreneurs. We can yet teach Astana and help people feel better physically, but we can also help them understand that we’re all patterned in certain ways and that the core of yoga is to help rewire the patterns that don’t serve us anymore. And as far as the Yoga entrepreneur, it rewires the patterns that are encouraging you to charge less than you’re worth encouraging you to invite. If you’re me bury your head in the sand. If I just don’t pay attention to it, then maybe it’ll go away. And if I keep charging less than maybe more people will show up and then it just doesn’t work. It’s a recipe for disaster. And with all of that, if you are an entrepreneur and you do have a yoga business, are you looking at your numbers? Are you flying blind or are you looking at your numbers? And we’ll talk a little bit more in detail about that in the next episode. So thank you so much everybody for

 

21:29          tuning in and keep an eye out for the next episode will be a good one. Yes, Thanks for listening. We hope you enjoyed this episode and be sure to tune in for the next one. Thanks. Peace. Thanks. Yes, thanks so much for listening to Yoga Entrepreneur Secrets. Do you have a question that you’d like us to answer raw and uncut on the podcast? If you want your questions answered, all you need to do is head over to Apple Podcasts, and do three simple things. One; rate and review telling us what you think of the podcast. Two; in that review, ask anything you want related to yoga, and three; if you want to shout out, leave your Instagram handle or name and that’s it. Then listen in to hear your question answered Live, raw and uncut. Join us next time on Yoga Entrepreneur Secrets Podcast. Thanks.