How’s it going? Yuri here, founder of Healthpreneur. Beautiful, sunny morning in Redondo Hermosa Beach.
Let’s talk about an important question you need to consider. What is the right business model for you and your business?
This is an important consideration. This is something you need to think about, because not every business model is right for every business. So let me give you some context.
Been There, Done That
I run a health and fitness company that I’ve had online since 2006. We’ve helped over half a million people, I’ve written three best-selling books, including the number two New York Times bestseller. We’ve done the supplement stuff, the affiliate stuff, content marketing. My blog gets almost a million visitors per month.
I say all this because I’ve done pretty much every business model you can think of. We’ve done the summits, we’ve done the book launches, we’ve done the product launches, you name it, and one of the mistakes I see so often with a lot of entrepreneurs online, especially in the health and fitness space, is they are not really aware or clear about what’s entailed with any given business model.
The Content Marketing Myth
Let me give you an example. A lot of health coaches want to teach, coach, and serve their clients, which is amazing, which is really what you should spend most of your time doing. So what does that mean? All right, well I’m going to write some blog posts and I’ll create some videos, but Yuri, like, no one’s seen my stuff. All right, so I’m putting all this work in to create these blog posts and then no one’s seen my blog, it’s frustrating I know, I know, and this is why I want to give you some wisdom here, and some advice to really get some perspective and understand what goes into any specific business model, because whatever you choose, there’s always going to be an opportunity cost.
You spend 10 hours writing a blog post unless you have a high traffic blogger that’s going on a high traffic website, you have to understand that those are 10 hours you could have done something else in your business, maybe even more productivity in terms of generating more income and impact for your business.
So, here’s what I think, having been in this space for almost 20 years now, 13 years online. You can do all sorts of stuff, right? You can create courses, you can write eBooks, you can sell supplements, you can do coaching, but let’s just talk about coaching for second. I really think that coaching is the biggest opportunity in 2018, 2019 and beyond, and why is that? Well, there’s so much information out, there is so much information that number one, if you try to do the content marketing thing, it’s got to be a five to 10 year game plan, unless you’ve got a massive budget, and if you’re going to do monster things with the publishing model, it’s just too competitive. And at the same time, more people with respect for health and fitness are more confused than ever because of all this information.
So I believe what people are looking for is some type of Sherpa, right? Some type of guide, a coach, someone who can hold their hand and walk them through the promised land or to the promised land through the valley of death if you want to think of it that way. And in order to do so, you don’t need to be doing all sorts of crazy stuff, you don’t need to have a huge platform, you don’t need to have a huge following.
The Premium Pricing Model
We built a multiple million dollar business, Healthpreneur, with less than 5,000 people on our email list, and the reason for that is because we work with people very closely, not necessarily one-on-one, and we charge premium prices to really create a massive impact on their lives, and this is exactly what we help our clients do who are health and fitness coaches. And when you consider this business model, it’s really exciting because let’s say you wanted to earn a million dollars, we’ll just give you two examples, right? You want to earn a million dollars in your business, and you have a $20 book as one of your products. You have to sell 50,000 copies of that book. Now how are you going to get 50,000 people to buy? You need a lot of traffic, assuming a 1% conversion rate on your sales page, you need five million visitors. So I don’t know about you, but that’s pretty tough to do.
On the flip side, if you’re coaching clients, in maybe a group fashion, which is what we recommend, let’s say you charge $5,000 for a client, that’s 200 clients. Now you might be thinking, okay Yuri, there’s no way I could charge $5,000 for a coaching program, believe me, you can, and there are many, many people who will pay that, because they’re looking to solve their problem. It’s not about you gouging people, it’s not about any of that stuff, it’s about really giving the best of you to transform someone’s life.
So 200 client versus 50,000 customers, which would you rather have? And if you want the former, well, it’s going to be challenging, if you want the later, then there’s a very simple and predictable way of doing that, and what we help our clients do is build out what we call a perfect client pipeline. It’s a four-step business model. Ad, webinar, application, phone call. That’s it. I’ll give it to you right there, because it’s as simple as that, but it’s also not as easy as that.
There’s obviously a lot of details and nuances that I can’t get into in this video, but again, if you want help with this, please subscribe to the channel, subscribe to our Healthpreneur channel today because I’ve got hundreds of videos, and many, many more coming to help you do exactly that. It’s to help you simplify your business, it’s to help you create more impact in what you’re doing, and not be drowning in a thousand things you could be doing, because you don’t need to be doing everything, you need to do one thing extremely well.
Just as Bruce Lee once said, “I fear not the man who does a thousand kicks once, I fear the man who does one kick a thousand times.”
So if you resonate with that, subscribe to the channel, watch our other videos, lots more great stuff coming your way. We are here to serve you, the health or fitness coach or expert who really wants to change the world, who wants to share your message with more people, because I believe you have magic. You have magic that can make a big difference in people’s lives and we are the leader in helping you do just that.
Talk to you soon.