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The Flow State of Mind Podcast

May 8, 2020

This may be the episode you NEED to listen to but may not necessarily want to. It can be incredibly overwhelming and frankly scary to look at your bank account and financial statements, especially at this uncertain time. We want to educate you and give you solutions to these specific issues and that's why we have Shawn Hanquist, AKA the Fit CFO. Today, you'll learn how to structure your company from a tax and legal perspective, what is available for you loan-wise at this time, and industry standards of financial practice specifically for online fitness coaches.


Time Stamps:


(0:48) Shawn’s Service

(3:10) Cash Reserve

(5:28) Types of Insurance

(7:56) Types of Businesses (LLC, S-CORP, etc)

(14:49) Profit First Strategy

(20:22) Profit Margins 

(21:36) Industry Standards

(24:31) Stimulus Package

(26:10) Figuring Out Taxes Early

(33:20) Tax Rightoffs

(37:50) PPP - Small Business Loan

(40:40) Forgivable Loans and the Unknown

(44:12) Economic Injury Disaster Loan

(45:55) Where to Find Shawn


Follow Shawn on Instagram!

Financial Black book-


ATTN: Personal Trainers, Fitness Influencers, Gym Owners, and Online Health Fitness of Any Form. 


There has never been a time which literally EVERYONE is rushing to the online space, to look for GOOD coaches to help them. 


This is your chance to not only take your business online but to take it from “side hustle” to BUSINESS. Inside of our IFCA Immediate Impact Course, we’re going to give you the tools, systems & blueprints to come out of this period BETTER than you went in.


Check out the Impact Fitness Coaching Academy Immediate Impact Course


Download the “Bands Will Make You Dance” Home-Based 6 Day Workout Program - Just $10.00, and 100% of Proceeds are donated (Plus Matched by Flow State Of Mind) to COVID-19 Relief Efforts 

Click HERE to purchase and download


ATTN: Personal Trainers, Online Coaches, Fitness Influencers, and Healthy Industry Entrepreneurs - Impact Fitness Coaching Academy is now CLOSED. 

However, we have so much to give for FREE, to start helping you impact MORE LIVES, and create the income, and freedom you deserve. 

Learn how to attract 5 new online clients, in 5 days, with our FREE Suspect to Client Course HERE


FREE Content Planner for Online Coaches! Hundreds of Prompts, Templates, and Systems to CRUSH THE CONTENT GAME



Join the Free IFCA Community for Coaches who want to change lives


Feeling confused about what nutrition protocol, or plan to follow? 

Want to be able to still eat how you want, without sacrificing results? 

If you want to end the constant “yo-yo diets,” learn how to achieve the body you have always wanted, WITHOUT killing yourself with cardio, missing out on social events, and being unsure if what you are doing will work….

Then we have a FREE 5 Step Guide to achieving BALANCE forever - and to teach you HOW .. and WHY… Click below for the free resource!


Please make sure to follow Erin at @erindimondfitness, Jordan at @duggaestetics, and the official Flow State of Mind Podcast page @flowstateofmindpodcast.


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