Fred Chevry is a professional bodybuilder of 15 years and an entrepreneur who has built a successful personal training business that spans the globe. He started his journey as a skinny 128-pound guy and went on to become a 204-pound bodybuilder. It all started when he walked into a gym in a new city, looking to join a membership. Fred’s first encounter with a trainer was at the gym, which turned out to be a fateful moment. He straightforwardly lost 30 pounds and continued his journey as a bodybuilder.
Overcoming Setbacks in Life and Career
Fred’s tale serves as proof of the strength of perseverance, commitment, and tireless effort. Despite not having any prior experience in business ownership or financial management, he has been able to establish a successful personal training venture and attain financial independence. His story encompasses not only his physical but also his financial transformation.
Growing up in North East Canada with a single mother, Fred had a typical upbringing. He attended college and then joined the police academy, where he discovered his love for weightlifting. Unfortunately, after leaving the academy, he was unable to secure a job due to a strike.
Undeterred, Fred chose to follow his passion for fitness and started his own personal training business in his local area in Canada. He then decided to move to the United States for the lifestyle and new opportunities. His start in the US has been a humbling experience, with him starting at the bottom and having to work small jobs and compete with other immigrants. However, Fred’s “Either I’m going to be successful or living under the bridge” and “There’s no Plan B” mindset and determination made him push through.
It wasn’t a straight and easy road to the top, but Fred’s determination and mindset paid off well. Now, he is the owner of a successful personal training app that helps numerous clients from across the globe achieve their fitness goals through a comprehensive and all-encompassing virtual training program.
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Understanding Yourself to Achieve Success
Achieving success in life and work can be closely related to having a good grasp of one’s own strengths, shortcomings, ideals, and ambitions. By identifying these elements, people can make informed choices, select the right chances, and devise a strategy that is suitable to their specific abilities and ambitions.
Fred’s success as a businessperson is not only due to his background as a bodybuilder and his experience but also because of his understanding of himself. Add that to his comprehension and what he has learned about the significance of passive income and working remotely, and you can understand why he has achieved so much.
Remote work and passive income have become increasingly common as more individuals recognize the advantages of financial independence. Passive income is a type of income that requires very little work or upkeep on the part of the receiver, including rental income, dividends from investments, and even earnings from an online business. As per the U.S. Census Bureau’s data, 20% of American households generate passive income, which could come from sources such as dividends, interest, or rental properties. The median amount earned annually by these households with passive income is $4,200.
With the growth of the internet, working from a distance has also become a realistic choice for many entrepreneurs, permitting them to work anywhere in the world at any moment. While remote work opportunities have been available pre-pandemic, COVID has increased them exponentially. According to January 2022 data by Pew Research, approximately 59% of U.S. workers who claim that their work can primarily be done remotely are currently working remotely full or mostly full-time.
Fred’s understanding of the importance of passive income and remote work has allowed him to diversify his sources of income and achieve financial independence. He has been able to successfully manage his businesses from different parts of the world, eliminating the need for a physical office and reducing operational costs. This has allowed him to save money and invest in other opportunities, further increasing his wealth.
Want to know more about Fred Chevy’s journey and his take on business? Check out the full-length interview on the Hustle Habits Podcast Youtube channel.
The Power of Passive Income and Financial Freedom
Passive income plays a crucial role for individuals seeking financial freedom. It involves receiving a steady flow of income that doesn’t require constant effort from the recipient. This means that after the initial setup, passive income can provide a reliable source of income to maintain your lifestyle and reach financial objectives.
Passive income also has the potential to increase over the long run, augmenting an individual’s riches and fiscal security. For instance, rental properties can appreciate in worth, and investments can thrive through compound interest. This can set up a strong base for long-term monetary planning and stability.
Fred has utilized the advantages of working remotely and earning passive income to establish his personal training enterprise and attain financial independence. With clients from various locations globally, he is able to earn a constant flow of passive income even when he is resting. Fred is not confined to the typical 9-5 work schedule and has the flexibility to work at any time and place he chooses. This gives him more time to concentrate on his personal life and physical well-being, which are vital elements of a fulfilling life.
Benefits of a Passive Income:
- Schedule Flexibility: By having passive income, you have the option to work at your own pace, giving you more time for personal interests.
- Financial Sovereignty: With a stable income stream, you can attain financial independence without having to work for it actively.
- Portfolio Expansion: By having different sources of passive income, you can broaden your financial portfolio, reducing your reliance on a single source.
- Generating More Funds: Passive income sources add to the stream of cash flow, which can help to bolster financial security and reach long-term objectives.
- Minimal Effort: Passive income sources demand a minimal investment of energy and can be managed remotely, making them perfect for those who seek a more adaptable lifestyle.
- Reoccurring Income: Unlike active income, passive income continues to generate revenue even after the initial work has been done, giving a perpetual source of income.
Building a Successful Personal Training Business Globally
In addition to remote work and passive income, Fred has also used technology to his advantage.
He has created a one-on-one personal training app called The Razor, which helps his clients meet their fitness goals through virtual personal training. Fred’s background as a competitive athlete has enabled him to understand the mindset and physical demands it takes to be successful in this business.
Through this strategy for physical fitness and well-being, Fred has enabled numerous customers to make groundbreaking changes in their lives. He has spearheaded the virtual personal training industry and enabled individuals across the globe to locate a virtual mentor with restricted access to top-notch fitness experts. The online exercise regimen Fred has made has helped customers quickly settle on sound choices so they can lead a dynamic life with a sound psyche, body, and soul. Membership through the app also includes a personalized meal plan that helps optimize the fitness regimen of each individual client. He is able to reach more clients and generate more revenue than he would have been able to through traditional personal training methods.
In the Global Consumer Survey by Statista, the United States ranks fourth among countries that use their smartphone as a personal trainer.
Source: Statista
With such many consumers using a fitness app and his motivation, Fred was able to scale his business and reach a global audience, which has contributed to his success as an entrepreneur.
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Achieving Financial Independence Through Entrepreneurship
Fred’s story is not just about physical transformation, but also about financial transformation. By understanding the value of remote work and passive income, and using technology to his advantage, he has been able to achieve financial freedom and build a successful personal training business.
Conclusion On Building Passive Income
Fred’s experience epitomizes the potency of tenacity, diligence, and the advantage of remote work and passive revenue. By knowing their own capabilities and shortcomings and capitalizing on their strengths, anybody can acquire financial independence and construct a lucrative venture like Fred.
For entrepreneurs, freelancers, or anyone looking to better their financial stability, the fundamentals of remote work and passive income can assist them in accomplishing their aspirations and living an economically secure lifestyle. In addition to understanding yourself, embracing remote work and passive income can also play a crucial role in achieving financial stability and independence. By utilizing technology and the internet, individuals can work from anywhere in the world and generate a steady stream of income without the constraints of a traditional 9-to-5 job. This can provide the flexibility and freedom to pursue passions and personal interests while also contributing to long-term financial security.
