🎙️ The Secret Millionaires Don’t Want You to Know. The Key to Growing a Thriving Lifestyle Business. 🚀

Ever wonder what real millionaires are doing to quietly build their fortunes?

Spoiler alert: It’s NOT what you think!

In my latest episode of The Lifestyle Business Quest Podcast, I’m diving deep into the powerful lessons from The Millionaire Next Door — and how you can apply them to grow your lifestyle coaching business to $250K and beyond! 💰

Here’s what you’ll learn:

🚀 Why frugality is the key to maximizing your profits

🚀 How consistency can transform your business (no more chasing shiny objects)

🚀 The secret to valuing time over money by automating & delegating

Plus, real-life stories from my clients Randy, Rex, and Jon, who used these exact principles to skyrocket their coaching businesses! 

✨ Ready to unlock millionaire habits and apply them to your business? Listen now and get actionable tips to scale smart, not hard! 👇

- Travis

To Learn more about growing a Thriving Lifestyle Coaching Business, grab your FREE Masterclass Training Today! www.LifestyleBusinessQuest.com

Transcript

When you think of a millionaire, what comes to mind? Flashy cars? Luxury vacations? Well, here’s a truth that might surprise you: Most millionaires don’t look like that at all. They’re the ones living in modest homes, driving sensible cars, and focusing on building wealth in a quiet, disciplined way. The ones who embrace simplicity, frugality, and consistency.

In today’s episode, I’m taking you deep into the world of The Millionaire Next Door by Thomas J. Stanley and William D. Danko and showing you how the strategies that quietly wealthy people use to build their fortunes can be applied directly to your lifestyle coaching business. By the end of this episode, you’ll have a blueprint for growing a thriving $250,000 coaching business — not by working harder, but by working smarter. 

Hey there, welcome to The Lifestyle Business Quest Podcast, where we explore the best strategies for growing your coaching business in a way that brings both income and freedom. I’m your host, and today we’re diving into the surprising habits of real millionaires. Specifically, we’re going to pull insights from The Millionaire Next Door — a book that changed the way I look at wealth and business.

What makes this episode special is that we’re going beyond the surface and into the heart of what makes these millionaire habits so powerful. I’ll be sharing real-life stories from my clients, like Randy, Rex, and Jon, who embraced these principles and saw their businesses transform. By the end of this episode, you’ll have a clear, actionable roadmap for building a business that not only grows, but gives you the freedom to live the life you truly want.

Why does this episode matter to you? Because building a $250K coaching business isn’t just about marketing tactics or constantly chasing clients. It’s about creating a foundation based on consistent, smart decisions — just like millionaires do with their personal wealth. We’re going to explore how the philosophies from The Millionaire Next Door can directly apply to your business, so you can achieve both financial success and the freedom that every coach dreams of.

Let’s start with one of the most overlooked traits of millionaires: frugality. According to The Millionaire Next Door, millionaires don’t live extravagant lives. They don’t spend more just because they earn more. Instead, they focus on keeping their expenses low and maximizing their profits. This principle is critical in your coaching business.

So many coaches think that more revenue equals more success. But here’s the kicker: If your expenses are spiraling out of control, that revenue won’t make a difference. You’ve got to keep your spending in check so that you can keep more of what you earn.

Take Randy as an example. When Randy first came to me, he was making about $8,000 a month in revenue, but after paying for his marketing tools, ad campaigns, and fancy website software, he was barely covering his expenses. Randy was in what I call “revenue illusion.” From the outside, it looked like he was doing well, but on the inside, he was struggling.

We took a hard look at his expenses, and let me tell you, it was eye-opening. Randy had subscriptions to four different email marketing platforms, multiple ad campaigns that weren’t converting, and he was outsourcing tasks that weren’t critical to his success. We streamlined his operations, cutting out everything that wasn’t contributing directly to client acquisition or delivery.

Here’s the result: Randy reduced his expenses by 60%, which meant he was now keeping a lot more of his revenue as profit. More importantly, by simplifying his business, he started attracting more clients because he could focus on what mattered: delivering a powerful coaching experience. Within a few months, Randy was bringing in $15,000 in revenue each month, and this time, most of that was profit.

Practical Action Step 1: This week, sit down and do a thorough audit of your business expenses. Go line by line and ask yourself, “Is this expense helping me acquire more clients or serve my current clients better?” If it’s not, cut it. Focus on simplifying your expenses and maximizing your profit margin, just like millionaires do in their personal lives.

One of the most profound lessons from The Millionaire Next Door is the power of consistency. Millionaires don’t become wealthy overnight. They build their wealth over years of disciplined, consistent habits. This is especially true in business.

Too many coaches get caught up in the hype of quick wins — they’ll try one strategy for a few weeks, and when it doesn’t work, they move on to the next shiny object. The truth is, building a sustainable business takes time, and it requires sticking with a proven system long enough to see results.

This was exactly Rex’s story. When Rex first joined my program, he was chasing after every new marketing trend. One week, he’d be running Facebook ads, the next he was building a podcast, and the week after that, he was trying to write a book. His focus was all over the place, and because of that, his results were unpredictable. One month, he’d make $3,000; the next month, he’d make $10,000, but there was no consistency.

We worked on shifting Rex’s mindset from chasing quick wins to focusing on long-term consistency. He committed to a single strategy: leveraging our Perpetual Clients System for organic outreach. Rex started spending just one hour a day, five days a week, connecting with potential clients, nurturing relationships, and offering his high-ticket coaching program.

What happened next? Within 90 days, Rex’s business had completely transformed. He went from inconsistent income to regularly bringing in $18,000 a month. He wasn’t working any harder; he was just working smarter and more consistently.

Practical Action Step 2: Choose one client acquisition strategy and stick with it for 90 days. This could be organic outreach, webinars, or a content strategy, but the key is to focus on one method and execute it consistently every day. Track your progress, make adjustments along the way, but resist the temptation to jump to the next shiny object. Consistency builds long-term wealth, both for millionaires and in your business.

Another crucial insight from The Millionaire Next Door is how millionaires value their time. They understand that time is their most precious asset, and they focus on activities that generate the highest return. The same principle applies to your business: If you want to scale, you need to learn to delegate and automate tasks that aren’t the best use of your time.

This is where Jon’s story comes in. Jon had built a decent coaching business, making about $5,000 a month, but he was working himself into the ground. He was doing everything himself — from scheduling client calls to managing his social media to answering emails. His days were filled with admin tasks that were draining his energy, leaving him little time to focus on actually coaching his clients. Jon was stuck, and his income reflected that.

We worked together to identify the low-impact tasks that were eating up Jon’s time. We automated his client scheduling with a simple tool, set up email templates for client communication, and hired a virtual assistant to handle his inbox and social media posting. By freeing up his time, Jon was able to focus on what really mattered: serving his clients and delivering a transformational experience.

The results were incredible. Within three months, Jon had tripled his income, going from $5,000 to $15,000 a month. He wasn’t working more hours; in fact, he was working fewer — about 25 hours a week. Jon learned that by valuing his time and delegating tasks, he could achieve so much more with less effort.

Practical Action Step 3: Take a look at your current workload and identify one area that’s taking up too much of your time. This could be scheduling, email management, or social media. Delegate that task to a virtual assistant or use automation tools to handle it for you. By freeing up even a few hours each week, you can focus on the high-value activities that will actually grow your business.

Let’s recap the key lessons from today’s episode:

1. Frugality isn’t just for personal finance — it’s for business too. Millionaires keep their expenses low so they can maximize their profit. In your business, this means cutting unnecessary costs and focusing on what truly drives growth.

2. Consistency is the secret to long-term success. Millionaires build their wealth over time by sticking with proven habits and systems. In your business, pick one client acquisition strategy and stick with it for 90 days to see real results.

3. Time is your most valuable asset. Just like millionaires delegate and automate tasks that don’t contribute to their wealth, you need to do the same in your business. Free up your time so you can focus on high-impact activities.

By applying these principles from The Millionaire Next Door, just like Randy, Rex, and Jon did, you can build a thriving $250,000+ lifestyle coaching business that gives you both financial freedom and the lifestyle you’ve always wanted.

Ready to take your business to the next level? I’ve got something special for you. Head over to lifestylebusinessquest.com and grab my free masterclass. In it, I walk you through the exact five steps that I use to help my clients build thriving $250,000 coaching businesses. Whether you’re just starting or looking to scale, this masterclass will give you the tools you need to succeed.

Thank you for joining me today on The Lifestyle Business Quest Podcast. I can’t wait to hear how you implement these strategies in your own business. Until next time, keep growing, keep thriving, and keep living your best life!