December 21, 2024 • 6 mins
What if closing a business felt more like liberation than failure? Join us for an eye-opening conversation where we unravel the emotional complexities of shutting down a studio amid financial turmoil. Our journey begins with the refreshing energy of a morning workout surrounded by a community that shares similar values and beliefs. This stark contrast highlights the burden of keeping a business afloat amidst stress and uncertainty. Yet, the surprising decision to close brings a newfound sense of optimism and relief, a testament to the power of embracing change. Together, we navigate the emotional rollercoaster of letting go and discover the unexpected freedom it can bring.
As the episode unfolds, we confront the harsh realities of business closure, from tackling persistent rumors to managing delicate membership issues within the studio. Legal insights into bankruptcy unravel the maze of financial decisions, addressing personal credit scores and strategic car purchases. Listen as we share vital advice for anyone facing similar challenges, focusing on resilience and financial planning. Throughout, we emphasize the unwavering strength found in community support, offering a raw and authentic perspective on the end of one chapter and the beginning of another.
As the episode unfolds, we confront the harsh realities of business closure, from tackling persistent rumors to managing delicate membership issues within the studio. Legal insights into bankruptcy unravel the maze of financial decisions, addressing personal credit scores and strategic car purchases. Listen as we share vital advice for anyone facing similar challenges, focusing on resilience and financial planning. Throughout, we emphasize the unwavering strength found in community support, offering a raw and authentic perspective on the end of one chapter and the beginning of another.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
All right, good morning, happy Friday.
Well, just finished up amorning workout, got up with
some a good guy's network or aguy's Bible study, it's called
what it is.
It was really good just to do aworkout with some guys with the
same mindset, the same beliefsand just to encourage and
strengthen each other.
It was really great.
(00:22):
I've noticed in the past Idon't know three, four weeks, I
don't know how long just goingto the studio it's not stressful
.
I was starting to get likeantsy or uneasy going to the
space because in my head it'slike oh, how am I going to keep
the doors open?
How am I going to hire theright person?
How am I going to have anexpectations conversation with
(00:44):
someone?
And there's just a bundle ofstress.
But ever since I realized okay,like I can't keep pushing
uphill because there's no end insight and so I need to close
the doors, ever since I've madethat decision like, yeah, the
doors have to eventually close.
When I go there, I just feellighter, I feel more at ease,
more.
It sounds weird, but I see moreoptimistic about life, which
(01:09):
sounds so messed up, but thefact that I don't see like this
perpetual, never ending strugglethat's wrapping up.
I feel really great about itand it's really cool.
So right now I'm heading to thestudio.
Technically I'm going to thegrocery store next door because
they've got Wi-Fi.
I'm going to get some work doneand then I'll hang out at the
(01:30):
studio for a little bit to catchup with my GM.
Today's the last like workoutday of the program, and then
tomorrow it's like a fun workoutfor the members and stuff, and
then tomorrow's like I'll have alot more episodes from tomorrow
.
But tomorrow we have the testout where we celebrate people's
hard work.
We then have like the quickstats and the the number
(01:50):
assembly and all that, and thenwe put together the winner's
circle and tomorrow night wehave the party, and so
tomorrow's gonna be a fun day.
Today's like the last normalwork day with my GM.
So that's a little bittersweet.
He's man, he's been.
Members have put him throughthe ringer.
Just the stuff they, they sayabout him, the stuff that that's
true and factually wrong,that's lies about him.
(02:13):
It's just crazy.
People don't view the, thestudio, as a place to work out.
They view it as a social club,a place to talk about other
people, a place to spread rumors, to talk about other people, a
place to spread rumors, and toan extent you just have to let
that go, because you can'tcontrol what people say outside
of your four walls and that'sjust out of your control.
(02:35):
That's not something that youcan dictate.
You can get rid of the member,you can cancel the membership
and say sorry, you're notwelcome here, but that just
spreads.
That spreads and then thatimpacts people.
You're not welcome here, butthen it just spreads.
That like this is that spreadsand then that impacts people by
kicking out other people.
And so, anyhow, have soughtlegal counsel on how to wrap
(02:55):
things up for my personalfinances.
For the business finances I'lldo another episode about, like,
all the terminology, becausethose are really meaningful and
I didn't.
For bankruptcy and shutting abusiness down, I didn't know
what the options were and I'mnow seeing, like, okay, there's
very, there's only two routes,and I'll explain it from how I
(03:16):
understand it.
But I feel at peace about it,so I'm not stressed, I'm not
curled up about it.
Um, my 830 credit score isabout to get shot down, probably
to the 600s, maybe even the500s, I don't know.
So what things should we dobefore bankruptcy?
What things should we do afterbankruptcy.
Depending on how we file, it'scrazy.
(03:37):
Like even just an example likemy wife's car 170,000 miles, the
car's worth like 800 bucks.
Depending.
If we file one way, we shouldbuy a car beforehand.
Depending if we file the otherway, we should only buy a car
after we file.
So like, either way, yeah, wehave to replace the car.
The car is about to die likeit's.
It's worth 800 bucks one repairbill and it's worth more than
(04:00):
the car.
So, like this, there's nowhereleft for it to go.
So I'll I'll do another episodeon the different kinds of
bankruptcy because no one hasgiven me a normal person answer
on the differences.
But anyhow, I feel at peaceabout the gym.
I feel really good about thefuture.
Yeah, I'm going to get sued bycorporate because of liquidated
damages.
I'm not even in my franchisedocument.
(04:22):
I'm not even allowed to saywhich franchise system I was a
part of.
If I'm reading the FDDcorrectly which I probably am,
not because I'm not a lawyer,but if I'm reading it the way
that I think, at one point theythought they were saying I can't
even mention the franchise Iwas in, which is wild, because I
can't say that I was associatedwith it, which I don't know how
they monitor that.
So, anyhow, I tell I can'tdiscern one way or the other
(04:46):
because I'm not a lawyer.
So I'm not going to be helddown by something I can't
comprehend.
We're just going to rock androll.
We're going to have a great day.
I'm not going to stress aboutthe future because, heck,
tomorrow there could be.
You can't control tomorrow, youcan only like semi-control
today.
So I'm only going to thinkabout today right now.
(05:10):
So just got to the studio,let's rock and roll, let's go
inside, have a good work day.
Tonight's a kid's birthdayparty and we're going to enjoy
the last day with the GM.
Well, technically, tomorrow'sthe last day with the GM, but
today's the last time we're workday with the GM.
That's where we're at, that'swhere we're going.
Let's rock and roll.
All right, good morning, happy Friday.
Well, just finished up amorning workout, got up with
some a good guy's network or aguy's Bible study, it's called
what it is.
It was really good just to do aworkout with some guys with the
same mindset, the same beliefsand just to encourage and
strengthen each other.
It was really great.
(00:22):
I've noticed in the past Idon't know three, four weeks, I
don't know how long just goingto the studio it's not stressful
.
I was starting to get likeantsy or uneasy going to the
space because in my head it'slike oh, how am I going to keep
the doors open?
How am I going to hire theright person?
How am I going to have anexpectations conversation with
(00:44):
someone?
And there's just a bundle ofstress.
But ever since I realized okay,like I can't keep pushing
uphill because there's no end insight and so I need to close
the doors, ever since I've madethat decision like, yeah, the
doors have to eventually close.
When I go there, I just feellighter, I feel more at ease,
more.
It sounds weird, but I see moreoptimistic about life, which
(01:09):
sounds so messed up, but thefact that I don't see like this
perpetual, never ending strugglethat's wrapping up.
I feel really great about itand it's really cool.
So right now I'm heading to thestudio.
Technically I'm going to thegrocery store next door because
they've got Wi-Fi.
I'm going to get some work doneand then I'll hang out at the
(01:30):
studio for a little bit to catchup with my GM.
Today's the last like workoutday of the program, and then
tomorrow it's like a fun workoutfor the members and stuff, and
then tomorrow's like I'll have alot more episodes from tomorrow
.
But tomorrow we have the testout where we celebrate people's
hard work.
We then have like the quickstats and the the number
(01:50):
assembly and all that, and thenwe put together the winner's
circle and tomorrow night wehave the party, and so
tomorrow's gonna be a fun day.
Today's like the last normalwork day with my GM.
So that's a little bittersweet.
He's man, he's been.
Members have put him throughthe ringer.
Just the stuff they, they sayabout him, the stuff that that's
true and factually wrong,that's lies about him.
(02:13):
It's just crazy.
People don't view the, thestudio, as a place to work out.
They view it as a social club,a place to talk about other
people, a place to spread rumors, to talk about other people, a
place to spread rumors, and toan extent you just have to let
that go, because you can'tcontrol what people say outside
of your four walls and that'sjust out of your control.
(02:35):
That's not something that youcan dictate.
You can get rid of the member,you can cancel the membership
and say sorry, you're notwelcome here, but that just
spreads.
That spreads and then thatimpacts people.
You're not welcome here, butthen it just spreads.
That like this is that spreadsand then that impacts people by
kicking out other people.
And so, anyhow, have soughtlegal counsel on how to wrap
(02:55):
things up for my personalfinances.
For the business finances I'lldo another episode about, like,
all the terminology, becausethose are really meaningful and
I didn't.
For bankruptcy and shutting abusiness down, I didn't know
what the options were and I'mnow seeing, like, okay, there's
very, there's only two routes,and I'll explain it from how I
(03:16):
understand it.
But I feel at peace about it,so I'm not stressed, I'm not
curled up about it.
Um, my 830 credit score isabout to get shot down, probably
to the 600s, maybe even the500s, I don't know.
So what things should we dobefore bankruptcy?
What things should we do afterbankruptcy.
Depending on how we file, it'scrazy.
(03:37):
Like even just an example likemy wife's car 170,000 miles, the
car's worth like 800 bucks.
Depending.
If we file one way, we shouldbuy a car beforehand.
Depending if we file the otherway, we should only buy a car
after we file.
So like, either way, yeah, wehave to replace the car.
The car is about to die likeit's.
It's worth 800 bucks one repairbill and it's worth more than
(04:00):
the car.
So, like this, there's nowhereleft for it to go.
So I'll I'll do another episodeon the different kinds of
bankruptcy because no one hasgiven me a normal person answer
on the differences.
But anyhow, I feel at peaceabout the gym.
I feel really good about thefuture.
Yeah, I'm going to get sued bycorporate because of liquidated
damages.
I'm not even in my franchisedocument.
(04:22):
I'm not even allowed to saywhich franchise system I was a
part of.
If I'm reading the FDDcorrectly which I probably am,
not because I'm not a lawyer,but if I'm reading it the way
that I think, at one point theythought they were saying I can't
even mention the franchise Iwas in, which is wild, because I
can't say that I was associatedwith it, which I don't know how
they monitor that.
So, anyhow, I tell I can'tdiscern one way or the other
(04:46):
because I'm not a lawyer.
So I'm not going to be helddown by something I can't
comprehend.
We're just going to rock androll.
We're going to have a great day.
I'm not going to stress aboutthe future because, heck,
tomorrow there could be.
You can't control tomorrow, youcan only like semi-control
today.
So I'm only going to thinkabout today right now.
(05:10):
So just got to the studio,let's rock and roll, let's go
inside, have a good work day.
Tonight's a kid's birthdayparty and we're going to enjoy
the last day with the GM.
Well, technically, tomorrow'sthe last day with the GM, but
today's the last time we're workday with the GM.
That's where we're at, that'swhere we're going.
Let's rock and roll.
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