How To Command Higher Prices (For Health Coaches)
Stasia
Alright, so you want to command higher prices? You want to earn what you’re truly worth?
Today I’m going to share exactly how you can do that in this video. But I want to start off with a little quote that William Shakespeare once said. He said, “What’s in a name? That which we call a rose, by which any other name would smell as sweet.” Now what the hell does that have to do with pricing?
Car Pricing Analogy
Well, it actually has to do with pricing, as I’m about to lay out for you here. To make sense of this, let me use the example of cars. I’m walking through my neighborhood and there’s a lot of cars. A lot of nice ones as well. We know there are a lot of different car companies. Audi, BMW, so forth. But a lot of them are actually owned by the same parent companies. And there’s this phenomenon in the car industry known as platform sharing. Whereby, the same car, two cars are the same. But they’re under different brands and have very different price points.
So let me use the example of BMW and Rolls Royce. BMW has a car, the 750i, which is kind of their mafia version, their mafia car. I believe it goes for about $100,000. So that’s kind of the ticket price. Then we have the Rolls Royce Ghost. And this car has the exact same … You know what’s funny? See that car right there … That was the 5 series, it wasn’t the 750. But that would have been funny if it had been the 750, how cool would that have been?
So anyways, we have the Rolls Royce Ghost, which is the exact same chassis, exactly the same car. A little bit more powerful engine than the BMW 750. Yet, it’s priced three times higher. It’s priced at $300,000 give or take a couple bucks here or there. So what’s the difference?
Sure, there’s a difference in stitching, and a couple of superficial things, like the way it looks and stuff. But under the hood, under the carcass, it’s the same car. Rolls Royce is $300,000. BMW is $100,000-ish. So why is that? Well, I’m going to tell you. But first, we’re going to cross the road. What’s cool is I can actually run with this camera, because I’m using this cool Gimbal, and it’s not bouncing all over the place.
Rolls Royce vs. BMW
Okay, so the reason the Rolls Royce is more expensive, is because Rolls Royce, way back in the day, chose to be more expensive. That’s it. That’s it, guys. If you want to command premium prices, it’s your choice. Nothing more than an internal game. You decide what you want to charge. This is the biggest sticking point for almost everyone we work with. “If I charge this, people aren’t going to enroll. They’re going to think it’s too expensive.” And that’s true. There will be people who think it’s too expensive and they’re not going to enroll with you.
But, who cares? Some will, some won’t. So what? In any given market, there’s always a percentage, obviously smaller, who are willing to pay top dollar for a better result, better experience, better service. I’ve never been on an airplane where first class was empty, have you? Probably not. You know the Four Seasons Hotels? Are they hurting for business? No, they’re not. People are paying thousands of dollars a night to stay there in some cases. So it’s really an internal game, that you have the choice to overcome or let it stand in your way.
How To Command Premium Pricing Through Positioning
And if you don’t feel comfortable charging premium prices, then don’t, until you get comfortable commanding them. Because if you don’t feel confident in asking someone to pay you a certain amount of money, which is a lot more than probably what you’re asking now, then they’re not going to see the value in that. Because you don’t believe in yourself. So, there’s a couple of ways we can position ourselves. And the key word is position ourselves here to command premium prices. Because what we’re trying to do here, is essentially crafting celebrity, crafting authority.
Think of it this way, Kim Kardashian. What type of value does she bring to this world? Not a lot, I don’t think so. She’s not helping people in any way, shape or form, that I’m aware of. But her perceived value is extremely high. So when she shows up at a restaurant, or she does some type of sponsored campaign or co-branded opportunity for another company, she gets paid a lot of money. Why is that?
Because what’s known as intrinsic value, which is the value that we attribute to something, which has nothing to do with its actual value … Is the most important thing. That’s why celebrities get paid a lot of money to appear on billboards for a cologne. Or to do a commercial for a car. Because people, advertisers, companies know that we humans are irrational. We tend to think that if a celebrity gets behind something, that it’s good for us. And we’re going to buy that, as a result of that association. That’s the way the world works. That’s not going to change.
So what we want to do is, we want to craft celebrity in our business. And all it comes down to is you making, number one, a decision about, “Hey, I want to be someone who commands premium prices. And if that were the case, how do I have to position myself to do so?” And the only question you have to answer, is “How do I want my markets to think of me as?” That’s it.
And you just reverse engineer everything from there.
In our Health Business Accelerated Workshop, this is one of the things we talk about, is positioning. What do you want to be known for? What do you stand for? What do you want your market to know you as for? To think of you, when they think of X. And there’s a couple of ways you can position yourself. You can position yourself in a lot of different ways. You can think of being contrarian, you think of being exclusive, you can think of being popular. So popular in terms of a huge following. If you have a huge following, there’s safety in numbers. If a lot of people are doing your stuff, it’s a lot easier for other people to do it as well.
But if no one is eating at your restaurant, no one is going to want to eat there. That’s an example. Exclusive would be, for instance, in our case, right? We’ve taken the exclusive approach. There’s only two ways that we work with our clients. And we don’t offer anything else. So there’s no lead magnets, there’s no seven dollar trip wire offers. There’s none of that nonsense. And that’s just a very strong decision that we made. Because we know to serve our clients at the highest level, we can’t waste our time with stuff like that.
How Do You Want To Be Perceived?
So you can position yourself however you want. You can be a contrarian, you can be controversial, you can do all sorts of stuff. Like the Food Babe, Vani Hari, she took the approach of being contrarian. And she built a huge business based on her passion around taking on the food industry, pretty much. So you need to think about this stuff.
You need to think about, “How do I want to be perceived in the world?” For me, I’m the world’s leading coach for health and fitness entrepreneurs who want to grow a predictable and profitable coaching business with less stress. That’s me. That’s the message I’m putting out there. And whether or not you believe that, that’s okay. Whether or not it’s true, because a lot of other people could say that as well. But can they back it up? Not too sure.
So you want to think about, instead of just being a health coach, instead of being a nutritionist, instead of just being a fitness expert … You need to position yourself as the Rolls Royce of your industry if you want to command premium prices. And there’s a couple of things that go into that. So anyways, it’s all up here. It starts with a decision. You can have a Four Seasons-like business, or you can have a Motel 8 business, as I talk about in our free training.
A Step By Step Blueprint
Actually, on that note, if you want to go deeper on this and really kind of get some big ah-has, if you haven’t watched it already, watch the 7-Figure Health Business Blueprint. It’s an amazing 70-minute training and it’s going to walk you part of this pricing process. Along with five discoveries I’ve made over the years that have helped us build two seven figure businesses. And the exact four step process we use in Healthpreneur to build our business every single day. It’s exactly how we help our clients as well.
Part of that involves premium pricing. So if you want help on this, watch the training. If it makes sense to you, let us know. We’d love to jump on the phone with you and have a chat and see how we can best support you. But it all starts with going through the training, because it will give you some really good context for what it’s all about. So, pricing, guys … It’s an internal game. It’s a decision. And going back to Shakespeare’s quote, “There’s power in a name.” When you position yourself over time and people come to know you as this type of person, there’s a lot of power in that.
Just like there’s power in Rolls Royce vs. other car companies. And that takes a bit of time. It doesn’t happen overnight. But it starts with a conscious decision. Alright? I hope this video finds you well. I’ll talk to you soon.
Free Online Training: 7-Figure Health Business Blueprint
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How to Charge What You’re Worth
Stasia
In this solo episode, I tackle the tough issue of how to charge what you’re really worth. I know this is important because I have a lot of clients that struggle with it. Most of what I talk about today is aimed at coaching, but it can apply to you even if you’re selling a product or information rather than coaching services.
Think about this: A Bugatti or a Rolls Royce is always way more expensive than other cars, right? This is not just because they are good-quality items, but because there is always a segment of the market that wants the best. They want the best experience, the best results, more certainty, more personalized attention. So if you have an awesome protein powder that everyone else is charging $40 for—charge $80. Why? When you charge at a premium, customers assume what you’re offering is premium! They assume it’s the best. And it should be—you have to offer a very high-quality product.
If you want to impact people, you can either go the route of magnitude, or the route of impact. Either sell cheaply to thousands, or sell to far fewer people for a lot more money. In the health and fitness space, most of us love working with people and want to change their lives. It’s so much more rewarding to enroll one person in your coaching program for $5,000 than to sell a book for $10—to 500 people.
In this episode I discuss:
3:00 – 7:00 – Do your best to not to compare yourself to anybody else.
7:00 – 15:00 – Know the value of what you’re offering.
15:00 – 21:00 – Raise your standards and think bigger.
21:00 – 24:00 – Imagine your life with fewer clients paying you more!
Transcription
Wouldn’t it be great if you could charge what you’re really, really worth? Well, that’s what we’re going to talk about in today’s episode of the Healthpreneur Podcast, solo round edition with yours truly, Yuri Elkaim.
I think this is a really important topic because we speak with a lot of clients who struggle with this, right? They have this great program and I’m going to talk specifically about coaching because when it comes to selling information or even physical products or supplements, you have a little bit less wiggle room to price appropriately.
Now, let me just quickly say, if you’re offering supplements or information, I would still recommend you offer premium prices, so that you standout from the competition. For instance, if you’re offering some type of powder that everyone else is charging 40 bucks for, charge double, right? Why not? Why not charge double?
What that’s going to do is that’s just going to immediately make the assumption for a lot of people that yours is better, just like Rolls Royce is way more expensive than most other cars, right? Just like there are the Bugatti or the different super cars that are a million dollars plus.
For most people, that’s insane, but those cars sell out before they’re even built. There’s always a segment in the market that wants the best. By pricing at a higher level, assuming your stuff is great, which it should be, that we shouldn’t even have to talk about that, right? I’m not talking about ever putting stuff out there that’s subpar. You have to put stuff out there that’s the best and you need to back it up with that type of pricing, okay? So if you do sell a product, even though this discussion is a little bit different, I think you’ll still pick up on a couple of things that will help you with your pricing. All right.
Do your best to not to compare yourself to anybody else
So let’s talk about this. You’re a coach in this conversation. We’re talking specifically to people who are offering coaching as a service. Whether that’s one on one or a group. I have a preference for group because I just think it’s better for everyone. But here’s the thing. So you are offering some type of coaching program that is going to help people lose weight, overcome emotional eating, prevent cancer. Whatever it is, right?
The first thing we need to do is not to compare yourself to anybody else. What you are going to find is you’re going to have a solution, you’ve got a solution a program that is going to help people go from oh my god, I can’t get out of bed, my back is in so much pain to I can pick up my kids, I can go play volleyball, I can swing a golf club, no problem.
That’s a huge transformation for those people. You’re charging three, $4000 for that to work with people over eight weeks, let’s say. And the tendency is going be like oh my god there’s a book out there that shows people how to reduce back pain for 20 bucks. Why would people pay me $4000 if they can buy something for $20?
So you have to remember that in any given market, there’s always going to be people who want the best. The best experience, the best results, more certainty, more hand holding, more personalized attention. And that’s what a higher priced offer is going to allow you to provide.
So don’t compare yourself to anybody else because number one, they’re probably not providing what you’re providing. Second, you have to ask yourself, “Okay, if I’m gonna bring this to market, how can I make this 10 times better than what already exists,” which would then justify a higher price because you can’t just charge a higher price for he sake of charging a higher price. It really has to be good.
Know the value of what you’re offering
If it’s a new or novel idea, then that’s even better. For the most part, most of us are in a pretty competitive space. You’re not the first person to help people lose weight, you’re not the first person to help people manage their stress. So yours has to be set up in a way where it is much better than what’s out there. It can help to do a little bit of market research.
You don’t have to go crazy about this, but just have an idea of what others are offering. But even if you don’t, at the end of the day if you know what you’re offering is gonna make a huge difference in someone’s life, who cares what everyone else is doing. Because competition becomes irrelevant for a couple reasons.
Number one, your message is probably different. You have a different proprietary process as we call it that might help someone go from where they are to where they want to be. No one else has your proprietary process. As a result of that, you have your own little bubble.
Second is no one else is you. You are the only you. Because of that, you’re now a category of one. When you take your unique individuality with your unique approach to solving a problem, there really is no competition. Now people might think, “Well, there’s other back pain solutions out there,” and there are. But who cares. You only want the select number of people who are saying, “Yes, I resonate with you. I resonate with your message. I resonate with your approach. Let’s do this. I’m gonna invest $4000 because I believe that this is the most certain path to get me the results I’m looking for.” So don’t compare yourself to other people.
Now here’s the thing. The second thing I want to share with you is that you have to realize the value of what you’re offering. What that means is … Again, we help people in the health and fitness space. A lot of times they think to themselves, “Well, I can’t charge X number of dollars because there’s no ROI attached to that.” It’s easy to sell business related stuff because you can charge 5000 and make 20,000 in return. That’s easier. Not really. Let me tell you why. It’s your job as the coach to be able to transmit this information or this perspective to your potential clients.
So if you’ve been dealing with back pain for a number of years and you can’t get into bed, you can’t play with your kids, how much is that costing you? If you were to put a number on that, how much is that costing you? And if you can’t come up with an answer, let’s put it a different way. How much would it be worth to you if you could jump out of bed, if you could throw your kids around, if you could swing that golf club again, if you could get back into your garden and do all the things that you love to do, how much would that be worth to you? Seriously. How much would you be willing to invest to make that a reality? And just wait for the answer. If someone comes back to you and says 100 bucks, I would just be like, “Dude, you’re crazy. That’s not going to happen.
See what most people don’t realize is that it’s the intangibles in life that are the most valuable. Love, relationships, happiness, health. How do you put a price tag on that stuff? It’s all gonna be relative to the individual. The more pain somebody has, the higher the value they’re going to put on that. And that’s why it’s important to be able to offer something that solves a big pain or problem for someone. The right people would be like, “You know what? I’ve been suffering with this for too long.” And let’s say they came back, what you’ll find a lot of times, they’ll say that’s priceless. That’s priceless. And I would challenge you to ask a little bit deeper.
Okay, I understand this price is because it is. But if you were to put a dollar amount on that, what would that be? If you went to a doctor and the doctor said, “Here’s a pill that could take this back pain away forever, how much would you pay for that pill?” Try to get a numeric … Like an actual number out of them because a lot of times it’s gonna be a lot more than what you’re charging. And you have to realize the true value of what you’re offering is infinitely more valuable than any other business related service that can help you market better, that can help you … Whatever it is.
And I say that even with our workshop, or my mastermind. Even though they’re super badass and valuable and we help our clients, what you do as a health, fitness, or wellness expert is infinitely more valuable than what I do because I really believe that transforming someone’s health is the ultimate. There’s nothing more powerful. Relationships, definitely up there. Love, self- love. All that good stuff is up there. But nothing trumps health. And you have to really believe that. And if you’re helping someone manage their stress, doesn’t seem like there’s a big pain point there. You have to figure out a way to make that pain very real in that person’s life. Or that person has to realize there’s a big block that’s holding them back that you can solve. So you have to come to the realization that what you’re solving for people is a major crisis. It’s not just like a nice to have. This is a must have. And as a result of that, you can charge a premium price.
If we were in a world where people truly valued and paid for that, what would this mean to them. Someone who has been diagnosed with type two diabetes, they’ve been suffering for 10 years. They’ve been on medications and spending tens of thousands of dollars on medications and doctor visits. Do you think that a $37 ebook is worth while? How do you say a $37 ebook represents the value that that can mean to that person? And I say that because we actually have a $37 program. It’s called Defeating Diabetes.
And the reason we don’t do a higher level coaching with that is because I don’t want to. Right? But for the most part, we’re speaking here to people who love coaching and working with people at a deep level. If I really want to coach people with type two diabetes, that $37 program would be $5000 minimum. Not everyone’s gonna be able to pay it because a lot of those diabetics are on food stamps, or retirement, whatever it is. I don’t care. But I’m gonna get to the point where I know that if someone buys the $37 program, the likelihood of them doing the work is slim to none. Why? Because they don’t have enough skin in the game. So am I doing them a disservice by charging way too little? Yes.
So you have to recognize that by giving people a free lead magnet or a $10 ebook, it’s a disservice to them. Yes, you’ll get higher conversions. You’ll get more people enrolled, whatever. At $10. But are they ever gonna crack open the cover? Are they ever gonna open the PDF? The vast majority of times, they don’t even download what they bought. And there are obviously gonna be a percentage of people who do put in some work and who do follow it and get great results. That’s awesome. But it’s such a small percentage. I would rather work with fewer people, go deeper with them, transform their life 100% of the time than spray some program out to thousands of people hoping that a handful will succeed.
And I say that because that’s what I’ve done for 13 years. I’ve done both. We have a lot of programs that are five to a couple hundred dollars and some people get great results with those. But when I look at the ratio of the people who buy or download our stuff versus the transformations that happen, it’s very, very slim. And it’s not to say that our programs don’t work because they do. And here’s an even better thing. If you’ve got a program that works like gang busters, like a book for instance, turn it into a freaking coaching program. Because the same process and protocol you’ve laid out in your book becomes the framework for your coaching program. And even though let’s say 1000 people buy the book at 20 bucks, I would say maybe five to 10 of those people, maybe more, will be willing to work with you at a higher level for anywhere from three, four, five, $6000. Because there will always be people who want more access, more personalized attention, better results. Because they know that if they pay, they’re gonna pay attention. That if they invest, they’re gonna show up and they’re gonna get better results. So that’s the second thing is realize the value of what you’re offering.
A buddy of mine, Eric, who I play tennis with. He’s also in our space. He’s got a great website. Precisionmovement.coach. Awesome stuff. And I’ve used one of his programs. I’ve used a few of his programs for my shoulders. From tennis and so fourth. He’s got a program called Scap Control. We were talking about this yesterday when we were playing. I’m like, “Dude, this is an amazing program.” It’s less than 50 bucks, okay? And I’m like, “You can take this program and turn it into a several thousand dollar coaching program that is not going to appeal to everyone. But it’s going to appeal to people like me who once and for all want to get rid of their shoulder pain so they can perform at the highest level.” You have to kind of wrap your head around that. And it’s not to say that everyone has to do this because some people don’t want to coach. They just want to put out information and not deal with people. And that’s fine. But if you really enjoy coaching people and if you want a lot more profit and impact in your business, you have to be charging more.
Raise your standards and think bigger
Number three is you have to raise your standards. You have to raise your standards not just for what you’re worth, but for your life in general. Your life in general. Because there’s two ways of doing things in the world of business. If you want to impact a lot of people, you can go the magnitude route or you can go the impact route.
You can reach a lot of people, make a lot of money by selling something for a little bit but to a lot of people. For a $10 product, you have to sell millions upon millions upon millions of copies. You’re on QVC, shopping channel, that type of thing. The second way is you work with fewer people, but you charge a lot more. That’s where coaching comes in. And there’s no right or wrong. One isn’t better or worse than the other. It’s a personal choice. But what I’ve recognized in the health and fitness space is that most of us love working with people.
So why would we put out information that is not going to serve our clients, is going lead to a business model that we feel less excited about because we spend most of our time optimizing, and setting up funnels, and writing sales copy to sell something for $10. But instead, we can take that same energy, put it into something up to 100 times more and impact people at a higher level. And when you do that … It’s so much more exciting when you can enroll one person for $5000 instead of getting one person to buy your book at $10.
Imagine your life with fewer clients paying you more!
If you want to buy a house or take a trip, how many $10 clients do you need to have buy your stuff to make $5000? You need 500 people buying a $10 product to make $5000. 500 people. How do we get 500 people to buy? Well, maybe you have a huge email list. And that’s awesome. But I’ve got a huge email list and trying to get 500 people to buy a $10 product is like pulling teeth sometimes.
So you have to recognize the pros and cons of either one of these approaches. Every time I expose myself to successful people in successful environments, I no longer am satisfied with lower levels of income. So for instance, we live in a beautiful home right now. And it’s a home that is worth several million dollars. And it’s great. It’s in the best location of Toronto, I think. And we love our home. We absolutely love it. But I think one of the things that’s cool about life is you’re able to do, be, and have whatever you want.
So I set out an intention a little while ago. I’m like, hey you know what? In the next five years, I would like to build our dream home. And I want to build it down the street overlooking the river. Just a slightly different location in our existing area. It doesn’t make sense financially to pay a land transfer tax, to blow up a house that would in and of itself be maybe three or $4 million and then build another house on top of that. But I thought to myself. I’m like hey, what if we built our own house? That would be six, seven, $8 million. And you might be thinking to yourself, “Dude, that is … I can’t even comprehend that kind of money,” or maybe, “That’s awesome. Good for you.” Whatever your belief is about that. The thing is … I’m not saying you have to put yourself in situations where you become financially in a very compromised position, but it’s just asking the questions.
It’s like, hey, what if. What would have to be true if we wanted to do that? What would the mortgage payment be on that? 20, $30,000 a month? Hey, that’s not that much. That’s fine. Right? For some people that’s way too much money. You’ve got to raise your standards. You have to raise your standards at what’s possible. Because all of a sudden if you build a five, six, $7 million home, all of a sudden the way you look at your business changes.
So one of the exercises I want to leave you with here is I want you to take out a sheet of paper. I want you to write down everything you want to be, do, have you have in your life. House, travel, whatever.
If I want to travel with my family four times a year for 10 to 14 days each time, that’s gonna be minimum $100,000. Minimum. So how do I make $100,000? Well, I could sell 500 million copies of a $1 product, for instance. Or I can enroll and serve and really transform the lives of a select group of people.
For me, that’s much more exciting. It’s always helpful when you know where you’re going because it gives you that kind of north star. And it doesn’t have to be about stuff. It doesn’t have to be about the house, or the cars, the travel. Whatever is meaningful to you. Write those down. Write down how much those would cost. And start to just live there. Live there. Because now you know okay, I have to be making this amount of money to reach these types of dreams.
All of a sudden what you think is possible in your business is kind of shattered. You kind of break through this glass ceiling. You start thinking differently. You start thinking bigger. And as a result of thinking bigger, your standards are raised. The way you price your programs hopefully becomes a reflection of that. Not because you want to greedily get more out of life … Which by the way, there’s nothing wrong with doing that. But when you think bigger, it forces you to think better and more strategically about what you’re offering. So you can make things better for your clients and you can charge more. So if I’m thinking with my workshop or with my mastermind, how can I double the price? And not to say double the price for doubling the price. It’s doubling the price … If the price were double, what would we have to offer to make our … The results our clients get even more certain, faster, less frustration. And this is a really good thinking exercise to go through.
So there we go. Okay. So I know we’ve covered a lot here. And I hope this has really inspired you to really rethink how you charge for what it is you offer.
So again we talked about don’t compare yourself to other people. There are trainers that are offering their online coaching for $197 a month. Three month minimum. Wow that’s terrific. Well, don’t do what they do unless you want to live in that world. I’ve spoken to trainers who have 50 clients a month at 200 bucks. Okay, that’s $10,000 a month, but they are grinding away. They don’t have time. They don’t have time for themselves. Because they’re doing one on one calls. 50 clients a month. What if you had 50 clients a month in a group coaching program at $5000 each? All of a sudden you got a $25,000 a month revenue coming in with a handful of hours a week giving those clients your coaching instead of one on one. You free up a lot more of your time. They get better results because they’re in a better coaching program. And these are the things you have to recognize is don’t compare yourself to other people unless you want the results that those other people have.
Number two is realize the value of what you’re offering is immense.
And three is raise your standards. Raise your standards, think bigger, okay?
So if you jive with this, if you want support in your business with this, if you want us to be able to help you with crafting an offer, building at a program that command premium prices and truly transform your clients, here’s what I want you to do right now.
As I’ve said before if you haven’t done so, watch our training, the 7-Figure Health Business Blueprint. It’s over at healthpreneurgroup.com/training.
Go through training. You’ll get a much better perspective of what we’re talking about. You’ll see our business model, you’ll see how we build this out. And if you wanted help, book a call with us after that, okay?
So that’s what I want you to do right now. Go to our 7-Figure Health Business Blueprint Training
Thank you so much for joining me once again. I hope you enjoyed this episode. And until Wednesday. Hope You have a great one. Continue to get out there, be great, do great, charge what you’re worth, and I’ll talk to you soon.
If you enjoyed this episode, head on over to iTunes and subscribe to Healthpreneur™ Podcast if you haven’t done so already.
While you’re there, leave a rating and review. It really helps us out to reach more people because that is what we’re here to do.
What You Missed
In our last episode, I had the pleasure of talking with Emily Lark, the creator and owner of Back to Life, the complete healthy back system, and owner of a yoga studio.
Emily hasn’t always been savvy about copywriting, marketing, and the online space. But what she did to master those things has made all the difference for her business.
Tune in to hear how Emily uses fear to propel herself forward in business and how she deals with the doubtful voice in her mind. Chances are that you’ll be able to take away some valuable nuggets of advice.
How To Take Your Health Coaching Business Online
Stasia
How can you take your coaching business online?
This is a common question I get asked inside of our Facebook group quite often from new coaches or experts who are coming online, and they’ve been working in person with clients.
They’re trying to figure out: “How do I build this online thing?”
Well, I want to give you some perspective here and really help you understand how you can do this.
Ways to use the internet for online or offline coaching
First and foremost, we have to understand that just because we’re using the internet, it doesn’t necessarily mean that you can only coach people online. It also doesn’t mean that you have to coach people in person.
For instance, one of our workshop attendees recently came to us, and he was, or is, a tennis pro, and just has an amazing ability to help tennis players. He was having a difficult time trying to figure out how to take what he does in person, helping people technically on the court, and take that to an online coaching business.
I told him, “You don’t have to only coach people online, because you can use the internet to get in front of your perfect clients and bring them into your world. However, the way you deliver your deliverable, your program; is delivered in an in person setting.”
Ironically, the vast majority of the way we help our clients is in person. We’ve got our health business, our health business accelerated workshops, which we do online as well as in person. We have our Healthpreneur live events, and we’ve got the Luminary Masterminds — all of which are done live in person.
I told him, “You could do a retreat where you can bring people into special locations and do three to five days of tennis training. You can have ongoing coaching, whether it’s people sending in videos for feedback and stuff like that on their tennis serve or their forehand.”
Essentially, I got him to think about different ways that he could use the internet to build out his coaching program.
Finding Your Perfect Client
What I want to let you know is that you don’t have to be 100% online to have more of a virtual leverage to a coaching business.
But there’s a few questions that we need to answer.
Number one: If we’re using the internet to build our coaching business, the number one question we have to ask, “Where can we find our perfect clients?”
If we’re on the internet, and we’re only serving clients virtually, or if we’re in person or an accommodation of both, we have to be able to identify where our perfect client is hanging out.
In the case of this tennis pro, his clients might be hanging out on pages on Facebook like the USTA, which is the Tennis Association of the states, or maybe they like pages like Rodger Federer, or the US Open. We can get in front of those people with very targeted messages.
Now, in your business, most likely, you’re serving people who want to improve their health. Where are they hanging out? What pages are they following? What groups might they be a part of? Once you identify this stuff, everything becomes a whole lot easier in order to get in front of them. That’s the first thing.
Number Two: The second thing we need to identify is: Do you have to have some degree of manual touch to create the change you want to create for your clients?
For instance, if you’re a chiropractor and you manipulate people’s spines, is that the only way you can help them? If the answer is yes, then unless you’ve developed some type of amazing virtual reality technology where you can adjust people virtually, it might be difficult.
With that said, I’d say about a third of our clients are actually chiropractors; chiropractors who have been in practice for many years, who have just got to the point where they don’t want to do the clinical stuff anymore.
The thing to realize is that if you have expertise that can really make a difference in someone’s life, you can build out a program that is not so dependent upon you touching people. You have expertise up here, you’ve got protocols people can follow that you can deliver in more of a virtual type of setting.
If you don’t have to manually touch people … if you’re a massage therapist, again, you’re not going to virtually massage people, but maybe there’s a way where you can take your expertise or your years of working with people in person and put together some type of self-massage protocol or some type of treatment plan that people can walk themselves through.
There’s No Limit to What You Can Do
What’s cool about building out a coaching program is it’s really just limited by your imagination and your creativity.
If you want to help with this, then we can certainly do that. We speak with dozens upon dozens of health experts every single week on this very topic of figuring out how you build out your coaching program, how you deliver that in a virtual setting or in an offline setting face to face. It really depends on the business.
The number one thing that we dial in, first and foremost, is your perfect client. Who is that perfect client for you and your business?
If you don’t know what that is or who that is, everything else becomes a whole lot more challenging. That’s the first thing we dial in.
If you want help with this, and you want our help to walk you through this process, we’d be happy to do so. Before we go any further, there’s one thing I’d recommend you do.
Watch our free training. It’s called The 7-Figure Health Business Blueprint. This free training will help you get a good understanding of our approach to building a successful health coaching business.
We’re not going to tell you to go on Facebook and Instagram all day long, posting and doing all that kind of stuff. We have a very specific and predictable system by which we attract and convert clients. It’s exactly how we help our clients do the same. So be sure to watching the training.
Register for it today. I guarantee it’ll be the best 70 minutes you’ve spent on your business, perhaps ever.
It’ll really open your eyes to what is possible and what it really means to have a successful business. So, watch that. If you enjoy what you see, then book a time to chat with us, and we’d be happy to walk you through and help you implement this into your business.
Register today for your free training: 7-Figure Health Business Blueprint Online Training
If you enjoyed this episode, head on over to iTunes and subscribe to Healthpreneur™ Podcast if you haven’t done so already.
While you’re there, leave a rating and review. It really helps us out to reach more people because that is what we’re here to do.
The 3-Phase Productivity System
Stasia
Today, I want to help you become a lot more productive in what you do.
The Baseball Analogy
Behind me is a baseball diamond where a lot of kids play. The reason I want to share this with you and the reason for this baseball diamond back here is that a lot of entrepreneurs approach their businesses and the way they work without much thought.
They kind of just go, go, go, grind and hustle. That seems to be the tagline of the day. Just work until you’re dead, and the sooner the better type of thing.
Listen, I’m all for hard work. I think there’s a time and place to plant the seeds and get to work, but that should not be the majority of what you do day in and day out for the rest of your life.
A little while ago, I put together a new thinking tool called the 3-Phase Productivity System, which was initially inspired by Dan Sullivan from Strategic Coach. They may have a different type of entrepreneurial time system that didn’t necessarily work for me, but I modified it a little bit, put my own spin on it, and this is what I wanted to share with you here.
Before I share that with you, think about it this way. The reason I’m sharing this baseball diamond is because athletes get this, even if they’re not aware of this. If you probably have played sports at some point in your life, high performance or otherwise, you will know that it’s impossible to have high performance as an athlete every single day of the week. You can’t perform, you can’t be on top of your game playing games every single day.
Think about football. There’s one game a week. In soccer, there’s one game a week, maybe a Champions League, so let’s call it two games a week.
Baseball might the exception. It seems like they play all the time, but for the most part, athletes cannot play a game every single day of their life because what would happen if they did? They would burn out.
That’s why there’s not many pro athletes beyond 35 years old because their bodies simply can’t maintain that level of intensity, stress and training and so forth. That’s the first example.
Periodized Training Analogy
The second example is if you have any background in strength and conditioning, you’ll probably be very well-versed in this concept known as periodization.
Periodization essentially means that we have a build-up of weak, so we start here, we build it up, we build it up, and then we bring it back down so our body recovers, and then we super-compensate to a higher level than we were at before, but if we keep going and going and going and going and going and going, that leads to burnout.
We have all these great analogies from the world of athletics and sports, but very often in business, we forget about that. We think that, “I’m going to work 10 hours a day every single day. It’s all going to be good.” It doesn’t happen.
I want you to think about the way you approach your time like an athlete. It’s very similar to, think of it like intermittent fasting for work. You don’t have to be eating all the time. You don’t have to be working all the time. There’s a lot of benefits intermittent fasting on the body. There’s a lot of benefit to not doing anything for your business as well.
In my book, the All-Day Fat-Burning Diet, I talked about this, I had this little rhyme. It said, “Some days high, some days low, some days yes, some days no,” as it pertained to caloric intake. Think of it that way with respect to your work output, your mental capacity on a day-to-day basis. Some days high, some days low, some days yes, some days no.
Let’s talk through this 3-Phase Productivity System.
3-Phase Productivity System
We have three phases. There’s three different components to how we’ll want to look at our time.
Phase 1
Number one is we have produce. Produce is, think of the athlete playing the game. It’s Friday night lights. It’s the big game. That is produce. Then we have prep. Prep is the training that gets you ready for the game. Then finally, we have pause. Pause is, as the name implies, pause. Do nothing. Rest. Recover. We’ve got produce, prep, and pause.
Now, let’s take that to the world of business and our work. When you’re producing, and everyone’s going to be a little different, producing are the activities that are going to employ your unique genius.
Now, for instance, for some people, that might mean speaking on stage, but actually I’m going to make an argument here that, for the most part, all of us, our unique genius, our produce activities are going to be some form of communication.
This video and blog is an example of a produce activity in my life where I’m going to get in front of a camera or a mic, and I’m going to share a message. I’m going to share my ideas with my audience. That’s an example of a produce activity.
Now, the cool thing and the simple way to think about this for you is the vast majority of produce activities in your life require no Internet. If you’re on the Internet, unless you’re selling over the phone or on Skype or DMing someone on Instagram and enrolling a client, the vast, I would say 95% of your produce activities should have nothing to do with the Internet.
We’re talking about sharing ideas. I’m creating a video right now. This is not live on the Internet yet. Once that’s done, then we can move into the prep phase.
Phase 2
There’s a lot of different activities that can fall under the prep phase. I’m not going to go into them here, but with prep, think about taking this video and now getting it online or giving it to the right people to bring into fruition. The prep is kind of the planning, is the filling in the gaps between the produce and the actual execution, live, if you will, of getting it all done.
Phase 3
Then finally, we have pause. Now, pause is, again, it can take a number of different forms. It could take the form of doing nothing, like literally laying in the grass here and looking at the sky or taking a break.
For instance, on Wednesdays, for me, I have a pause, which basically means I stop working at noon.
From Noon until I go to sleep, I don’t do anything work-related, and I know that’s very, very tough to even comprehend let alone execute, but I do my very best.
We want to fill that time with activities or nothingness that really just removes us from the business, removes us from thinking in terms of the real heavy output and grinding and hustling and being on our phone, being on our computer.
These are the times where we want to step away from all that because like with periodization, it’s the recovery phase that helps us bounce back stronger. If we don’t have enough pause in our lives, we are going to burn out.
That’s the produce, prep, and pause, 3-Phase Productivity System.
Setting up Your 3-Phase Productivity System
If that makes sense to you, give this a thumbs up, share with someone who might enjoy this as well, and if you need help really identifying what you should be doing in your business that actually moves the needle the most, then just send me a message. Just be like, “Hey, man. I’m totally lost. I don’t even know what to focus on.”
Let’s have a quick chat. Let’s get on the phone if we need to, and we’ll walk you through how we can perhaps move you from where you are to where you want to be because the reality is there’s probably a lot of things you’re doing in your business that you probably shouldn’t be doing or not doing at the level that you’re doing them at, and there’s other things you’re maybe not even aware of that you should be doing that you’re not doing at all.
We want to get clear on that because a lot of times, breakthroughs in your business and your life can come from a really simple shift, and if we’re not even aware of what that might be, well, we’re not aware of it, and we can’t make that happen.
Anyways, I hope this video finds you well. If you want help with this, just send me a quick message, and let’s have a chat. Talk to you soon.
If you enjoyed this episode, head on over to iTunes and subscribe to Healthpreneur™ Podcast if you haven’t done so already.
While you’re there, leave a rating and review. It really helps us out to reach more people because that is what we’re here to do.
Focus on the Psychology, Not the Technology
Stasia
What platform should you use for webinars? What email provider should you use? What’s the best way to upload a video to YouTube or the internet?
None of these questions actually matter at all. They’re not going to move your business forward in the right direction.
What I want to share with you is a really important concept that I’ve been preaching for years, and I’m going to say it again.
The Big Debate: Idea vs. Execution
You need to focus on the psychology, not on the technology. You see, there’s a huge debate that will probably never end, it’s been going on for years, which is this whole idea of ideas vs. execution. Is the idea more important, or is it more important to execute the idea?
Well, I don’t think it has to be and, if, or scenario, because a lot of times, especially now, execution can be outsourced.
If you want someone to build up a funnel for you, just hire the business, they’ll build up the funnel. They’ll create the pages, they’ll do the API integrations, they’ll do all the stuff they need to do.
So, if everything is flawlessly executed, then why is it that one funnel, or one person’s business is going to crush it, while another person’s business with the same kind of layout and structure is not going to work as well.
It all comes down to is the idea, so that’s why I really, really want you to think about focusing on the psychology, not on the technology. It doesn’t really matter how you format the video, doesn’t matter if it’s an MP4 file or .MOV.
The Mistake I Was Guilty of Making
I’m guilty of knowing a little bit too much of the tech, probably because I had to, or I thought I had to way back in the day when I started my business. I want to help you avoid that mistake, because I really believe the less you know about the tech, the more money you’re going to make.
Why? Because if you don’t know anything about technology, you have two choices. You can figure it out, and that’s going to take you forever, and waste a lot of your time, or you can simply pay someone to figure it out for you.
And if you give it to someone else, that frees up a lot of your time to do what’s most important for you and your business, which is extracting your idea juice, and bringing it into the world. That’s what it’s all about.
A lot of the things we talk about with our clients are how to come up with a big idea. When you’re sharing content, with a webinar for instance, you need to position the webinar in such a way that is different, it’s unique, it’s novel, it’s contrarian.
It can’t be the same as everything else, it can’t be the same as what everyone else is seeing before, because otherwise it’s just another me too thing, and that doesn’t get anyone’s attention.
But if we’re so focused on the technology, we can’t see the forest for the trees.
We need to step out of the grind of doing all the stuff, we need to come up for air, take a breath, take a pause, and really think about what it is we’re creating, because the difference between a struggling business and one that absolutely crushes it, often times, is one small or big novel, unique idea.
The Big Idea
We’re not creating anything new, guys. Nothing new is ever going to be created, we’re simply making it better. The best car has not been created. The best house has not been created. The best telephone pole wire, whatever, has not been created. It’s all in the aethers in the creation process, right, we’re getting closer to the best. I don’t even think we’ll ever get to the best anything, because we’re only ever getting better, and better and better, and it’s almost like an infinity type of scenario.
I know I’m getting really out there, but the whole idea here is to focus on the big idea, the idea that you want to share with the world.
But the other thing too, is not just you, it’s really focusing and understanding your clients. Because if you can get in their heads, and spend more time in their life … we talked about this in one of our previous videos, the one word marketing plan, empathy…
If you can really understand what your clients are going through, and communicate that to them in a way where they feel understood, doesn’t really matter what technology you have. They will find a way to engage with you. They will find a way to work with you.
You can have all the fancy technology in the world, the fancy websites, all this nonsense, and if your messaging is wrong, because you don’t understand your audience, then none of that’s going to matter.
So, that’s the message for you today, is focus on the psychology, not the technology. All right?
The Next Step
Now, if you want help with this, and you want to really build a business that is built around the right type of messaging and a big idea, then I invite you to attend our 7-Figure Health Business Blueprint training.
It is an incredible training where I’ll walk you through five big discoveries I’ve made over the years that have helped us create two multiple seven figure businesses. I’m actually going to walk you through how we’ve built Healthpreneur from the ground up.
I’m going to show you the exact four step process we use in our business, and it’s the very same process we teach our clients. And if you think it’s a good fit for you, then we’d be happy to chat about how we can make that a reality in your business, as well.
But first and foremost, watch the training, it’s very, very useful use of 70 minutes. Check it out today. Thanks so much for watching, I’ll see you soon.
Free Online Training: 7-Figure Health Business Blueprint
If you enjoyed this episode, head on over to iTunes and subscribe to Healthpreneur™ Podcast if you haven’t done so already.
While you’re there, leave a rating and review. It really helps us out to reach more people because that is what we’re here to do.
The Only 3 Tools We Use To Manage Our Business
Stasia
What’s up, Healthprenuers? Yuri here. Hope you’re having a great day. Today I want to share with you three tools we use to manage our company.
Now you probably are aware that there are thousands upon thousands of software, tools and tech pieces you could use in your business and quite frankly, it becomes overwhelming.
I want to give you a higher level perspective of how we manage things in our business so maybe that will help you with yours as well.
Three Higher Level Perspectives
If we want to think of it at a high level, we want to think of three phases for pretty much most businesses and that’s going to be communicate, operate, and automate.
In each one of those three categories, we have three major pieces of software that we use. When I say major, I’m really not talking about major, okay? So let’s just break this down.
Communicate:
When we talk about communicate, we use Slack.
Slack is a communication tool. Basically, it just allows us to centralize all of our communication in one platform instead of using email back and forth a thousand times. So any discussions related to specific areas of the business, we set up a new channel within Slack and then we keep that discussion within there, and then it also allows us to use direct messages to specific people inside of Slack as well.
For instance, for us, we have channels inside of Slack for Facebook ads, client success, call reviews and stuff like that.
That’s just a couple examples of how we organize some of our communication.
Operate:
Second, when we look at operate. How do we operate systems and how do we track where things are at in the process?
For that, we use Trello. Trello is a project management platform. It’s free as is Slack, so you don’t have to pay for this stuff, which is pretty cool.
We actually don’t use Trello that much but what we do use it for is when we speak with potential clients, we basically have a lifecycle, if you will, of where the prospect is in that cycle.
For instance, if somebody has booked a call, we put them in one list. If we’ve had the call and they’re a good fit but they haven’t enrolled, we put them in another column. If they’re not a good fit, we move them along there. If we need to follow-up with them, we move them to another column in that list.
It allows our team and our coaches to have a simple follow-up process to know who to follow up with, in what sequence and where people are at in that sales cycle if you want to think of it that way. So, we use Trello for that. That’s the second thing in terms of operate.
Automate:
The third thing is automate. I’m a huge, huge geek when it comes to automation.
Automation, you can automate in two ways: you can automate through tech and you can automate through people.
Here’s one way to think about it. Anything you can do more than once should be documented. For processes, we use Google Docs. I love Google Docs. Anything I’m doing, whether it’s posting stuff on social media, this video, how we email our list, all of that is documented into a Google Doc. That’s then put into our playbook. Think of is as a football playbook, that has all the plays for your business.
So we have all the processes. I mean, we’re not perfect. We’re always adding and refining and going back and thinking, okay, did we put a process together for this thing? If not, let’s get it done. We use Google Docs for that. It’s extremely effective.
So, Google Docs, Google Sheets, I’ll put them in one category there. And that’s how we automate pretty much most of our business.
I can create a process and then I can get it all documented, get it all done, hand it off to someone else, and I can remove myself completely from that scenario. That is how you create freedom in your business.
The Three Tools We Use To Manage Our Business
Once again, here are the three tools: Slack, Trello, and Google Docs.
The cool thing is that they’re all free and enable us to manage the business at a higher level.
Underneath that stuff, there are different platforms. We use ClickFunnels, ScheduleOnce and EverWebinar.
There’s stuff like that that we use, but at a high level in terms of managing the business, those are the three different tools that we use to keep things organized and flowing seamlessly as much as possible.
I hope that helps you out. I hope that gives you a little bit of direction and if you have any thoughts on things that you use, by all means, just let me know in the comments below. If there are tools that you use to streamline your business, obviously I’d love to know what those are.
If you would like our help to streamline your business, to help you take your health coaching business to the next level, to serve more people without you grinding away 20 hours a day, then just send me a DM.
Send me a quick message below this video or just wherever you’re watching this. Let’s have a chat. Let’s have a chat to see where you’re at, where you want to go, and if either of us should be a good fit for us to help you.
That’s all for today. I hope you have an awesome one. I’ll talk to you soon.
If you enjoyed this episode, head on over to iTunes and subscribe to Healthpreneur™ Podcast if you haven’t done so already.
While you’re there, leave a rating and review. It really helps us out to reach more people because that is what we’re here to do.
Why I’m Back on Instagram (Important Lesson)
Stasia
Why am I back on Instagram? I’ve got an important lesson to share with you.
First of all, if you’re on Instagram make sure you follow me at healthpreneur1.
I’m going to share with you why I’m back on Instagram and a really important lesson that I hope sinks in for you.
Why I Initially Quit Instagram
I’ve been on and off of Instagram for a couple of years. We have an account under my personal name which is more of our health and fitness business that I don’t think anything is happening with. And then we have an account under healthpreneur1 which is for our Healthpreneur business. I started the account whenever we started Healthpreneur which was maybe a year and a half ago.
I did it for a little bit and then I stopped. I just got really frustrated by Instagram because number one, I just couldn’t stand looking at my feed. It was just like a lot of ass shots and narcissistic nonsense. And I didn’t like from my perception, what I was seeing on Instagram.
So the thing I realized about Instagram is that it’s not about me. It’s not about the narcissism. It’s actually about the message.
My Instagram Ah-ha Moment
As I started to understand Instagram as a platform a little bit better, I realized how powerful it is to really connect with our audience in a different and maybe deeper way than some other platforms.
And so I said, “Okay you know what, if I’m going to do this, I’m going to do it right.” So I’ve really fully committed to Instagram and we’ve got a great strategy lined out. It’s just about being truthful.
A lot of what you’re going to see from me on Instagram is raw Yuri. It’s nothing polished or fake, it’s just the truth.
I think the key with Instagram is just being truthful, right? And I think it’s just a great policy in general.
So the reason I literally within a couple weeks ago got back on Instagram is because we’ve had Healthpreneur now as of this recording, two and a half years.
Your perfect process needs to come first
We’ve spent the bulk of that time, I’d say certainly the last year and a half, building Healthpreneur and perfecting our perfect process. Our perfect process is called the Perfect Client Pipeline. And just so you know, just because I’m on Instagram, doesn’t mean that’s where the bulk of our business is coming from.
It’s actually a small amount. The bulk of our business comes from our Perfect Client Pipeline, which is our predictable and profitable system that attracts people we don’t even know into our world. And this is exactly what we help our clients build that in their business, too, because if you don’t have a predictable machine, a predictable process that your business is built upon, you don’t have a business.
If you’re on Instagram 24/7 doing stories, posting, doing all this kind of stuff, that’s fine. It’ll produce some results. But what happens when your phone breaks? What happens when you’re on vacation and you don’t want to take your phone? What happens, God forbid, when you’re on a cruise and you have no WiFi?
Your business disappears. And that’s not a business. Okay? You have to understand if your business is dependent upon you, you don’t have a business. You have a job. And I’ll say this time and time again, I’ve created another video in the past called, “Do you have a business or do you have a job?”
Why I’m Back on Instagram
You guys, you have to understand this. Social media’s fine, all right? All this stuff we’re doing online is fine. But you have to have a system in your business that when you’re sleeping, you’re not on the internet is attracting clients into your world and is enrolling them with little to none of your own input.
Initially you have to build this out but once it’s dialed in and fine tuned, that’s what you got. You got a business that works for you. Now the reason I came back on Instagram is because we spent the last year to year and a half perfecting our process. Right?
Now I have a lot more free time because we’ve built this out. I’ve got a great team supporting me and also you have to have a big team before you get back on social and stuff. But you have to have a process which predictably brings in new leads and clients for you every single day like clockwork.
Otherwise you’re relying on referrals and posting a thousand times inside of Facebook groups or posting on Instagram and doing stories endlessly and your not even present with the world around you. I mean I’m shooting a video here as I’m going for a beautiful walk on this amazing day. And you might be thinking, “Okay well you’re not really present with this current moment.” And that’s true, I’m not. I’m kind of present with shooting this video.
I spend a lot of time in my neighborhood and I love walking around in this beautiful naturesque area and if I were shooting stories every single time I was going for a walk, I wouldn’t even be present with my own life.
Now as you may or may not notice, in a lot of my videos, I have the same outfit on. And that’s because I shoot all my videos at the same time. So I shoot like 10 videos in one go so that every single time I’m walking, I don’t have to be on my phone.
Now I’m not trying to be like some like pompous ass here and I’m not trying to be on a soapbox but the only reason that I’m on social in an active way now, is because it’s not the major source of my business. Right? It’s not the major source of attracting clients. Yes, we’re building it, it’s a long term game plan and now we’re getting a lot more engaged with our audience in different ways.
But think about this too, with Gary Vaynerchuk. Right? Gary Vaynerchuk is on social media all the time but remember, he doesn’t have to monetize his following. He has VaynerMedia, 500 employees, they work with Fortune 500 companies.
You know, sure he can be on social media giving away all his best stuff all day long, because he doesn’t need the money. But if you need the money and if you need the clients, you can’t be wasting time on social media every single second of the day. You have to have a system built in your business and if you want to spend time on top of that on Instagram or Facebook afterwards, that’s totally fine.
But it needs to be a secondary activity in your business. Number one is attracting and converting new clients, number two is delivering those clients in amazing results and then, number three is whatever else you want to do.
So I think a lot of us really enjoy sharing and teaching content but it needs to be done in such a way that doesn’t waste your time. And I’m very, very cognizant of that when I’m shooting these videos or when I’m doing stuff on social, I’m setting up a plan to win. I’m not just wasting time like I used to, you know, 12 or 13 years ago.
So guys, that’s why I’m back on Instagram. Follow me, I’d love to chat with you and engage with you on Instagram. I think we’re doing some pretty cool stuff but you obvioulsy can let me know. Will be doing live stories here and there. Posting every single day.
Got lots of cool stuff coming your way and if there’s anything you need from me, just let us know. We’re here to support you and really help you build an amazing health business. And if you want, again, if you want our secret sauce to building a business that is a lot more predictable and profitable, then DM me.
Just send me a direct message or a message wherever you’re watching this, and I’ll be sure to send you some more information about how we can serve you and really help you build out your perfect client pipeline so you have more predictability. You have more structure and as a result, a lot more freedom and money from your business. All right?
I’ll talk to you soon.
If you enjoyed this episode, head on over to iTunes and subscribe to Healthpreneur™ Podcast if you haven’t done so already.
While you’re there, leave a rating and review. It really helps us out to reach more people because that is what we’re here to do.
How to Command Higher Prices (For Health Coaches)
Stasia
Do you want to command higher prices and earn what you’re truly worth?
I’m going to share exactly how you can do that in this video. But I want to start off with a little quote that William Shakespeare once said. He said, “What’s in a name? That which we call a rose by which any other name would smell as sweet.”
Now what the hell does that have to do with pricing? Well, it actually has everything to do with pricing as I’m about to lay out for you here.
BMW vs. Rolls Royce
To make sense of this, let me use the example of cars. I’m walking down my neighborhood here and there’s a lot of cars, a lot of nice ones as well. We know there’s a lot of different car companies: Audi, BMW, so forth but a lot of them are actually owned by the same parent companies and there’s this phenomenon in the car industry known as platform sharing whereby the same car, two cars, are the same but they’re under different brands and have a very different price point.
So let me use the example of BMW and Rolls Royce. BMW has a car, the 750I, which is kind of like their mafia version, their mafia car. I believe, it goes for about $100,000, okay? So that’s kind of the ticket price.
Then we have the Rolls Royce Ghost and this car has the exact same chassis, exactly the same car, a little bit more powerful engine than the BMW 750 yet it’s priced at three times higher at $300,000, give or take a couple of bucks here and there.
So what’s the difference? Sure there’s a difference in stitching and a couple superficial things like the way it looks and stuff but under the hood, under the carcass it’s the same car.
Rolls Royce is $300000, BMW’s $100000-ish. Okay. So why is that?
The reason the Rolls Royce is more expensive is because Rolls Royce, way back in the day, chose to be more expensive. That’s it, that’s it, guys.
The Internal Game You Play
If you want to command premium prices, it’s your choice. Nothing more than an internal game. You decide what you want to charge. This is the biggest sticking point for almost everyone we work with. “If I charge this, people aren’t going to enroll. They’re going to think it’s too expensive.” And that’s true. It is true. There will be people who think it’s too expensive and they’re not going to enroll with you.
But who cares? Some will, some won’t. So what? Next.
In any given market, there is always a percentage, obviously smaller, who are willing to pay top dollar for a better result, better experience, better service.
I’ve never been on an airplane where first class was empty. Have you? Probably not. You know the Four Seasons Hotels? Are they hurting for business? No, they’re not. People are paying thousands of dollars a night to stay there in some cases.
So it’s really an internal game that you have the choice to overcome or let it stand in your way and if you don’t feel comfortable charging premium prices then don’t until you get comfortable commanding them because if you don’t feel confidence in asking someone to pay you a certain amount of money, which is a lot more than probably what you’re asking now, then they’re not gonna see the value in that because you don’t believe in yourself.
How to Position Yourself to Command Premium Pricing
So there’s a couple ways we can position ourselves and the key word is position ourselves here to command premium prices because that we’re trying to do here is essentially crafting celebrity, crafting authority.
Think of it this way, Kim Kardashian, what type of value does she bring to this world? Not a lot. I don’t think so. She’s not helping people in any way, shape or form that I’m aware of but her perceived value is extremely high so when she shows up at a restaurant or she does some type of sponsored campaign or a co-branded opportunity with another company, she gets paid a lot of money. Why is that?
It’s what’s known an intrinsic value, which the value that we attribute to something which has nothing to do with its actual value, is the most important thing. That’s why celebrities get paid a lot of money to appear on billboards for a cologne or to do a commercial for a car because people, advertiser, companies, know that we humans are irrational.
We tend to think that if a celebrity gets behind something that it’s good for us and we’re going to buy that as a result of that association and that’s the way the world works. That’s not going to change.
What we want to do is we want to craft celebrity in our business and all it comes down to is you making, number one, a decision about, “Hey, I want to be someone who commands premium prices.” And if that were the case, how do I have to position myself to do so?
The only question you have to answer is, how do I want my market to think of me as? That’s it. And you just reverse engineer everything from there.
In our health business, Accelerator Workshop, this is one of the things we talk about is positioning. It is what do you want to be known for? What do you stand for? What do you want your market to know you as for to think of you when they think of acts?
There’s a couple of ways you can position yourself. You can think of being contrarian, you can think about being exclusive. You can think of being popular, right?
So popular in terms of a huge following. If you have a huge following, there’s safety in numbers. If a lot of people are doing your stuff, it’s a lot easier for other people to do it as well but if no one’s eating at your restaurant, no one’s going to want to eat there. That’s an example.
Exclusive would be, for instance, in our case, right? We’ve taken the exclusive approach. There’s only two ways that we work with our clients and we don’t offer anything else. There’s no lead magnets, there’s no seven dollar trip wire offers, there’s none of that nonsense and that’s just the very, strong decision we made because we know to serve our clients at the highest level, we can’t waste our time with stuff like that.
You can position yourself however you want. You can be contrarian, you can be controversial, you can do all sorts of stuff like the Food Babe Vani Hari. she took the approach of being contrarian and she built a huge business based on her passion around taking on the food industry pretty much.
You need to think about this stuff. You need to think about, how do I want to be perceived in the world?
For me, I’m the world’s leading coach for health and fitness entrepreneurs who want to grow a predictable and profitable coaching business with less stress. That’s me. That’s the message I’m putting out there and whether or not you believe that, that’s okay, whether or not it’s true because a lot of other people could say that as well. But can they back it up? Not too sure.
So you want to think about instead of just being a health coach, instead of just being a nutritionist, instead of just being a fitness expert, you need to position yourself as a Rolls Royce of your industry, if you want to command premium prices.
There’s a couple things that go into that. It’s all up here. It starts with a decision. You can have a Four Seasons like business or you can have a Motel 8 business, as I talk about in our free training.
Actually, on that note, if you want to go deeper on this and get some big a-ha’s, if you haven’t watched it already, watch the 7- Figure Health Business Blueprint. It’s an amazing 70 minute training and it’s going to walk you through part of this pricing process along with five discoveries I’ve made over the years that have helped us build two seven figure businesses and the exact four step process in Healthpreneur to build our business every single day and it’s exactly how we help our clients as well.
Part of that involves premium pricing so if you want help on this, watch the training and if it makes sense to you, let us know.
We’d love to jump on the phone with you, have a chat and see how we could best support you, but it all starts with going through the training because it will give you some really good context for what it’s all about.
So pricing, guys. It’s an internal game, it’s a decision and going back to Shakespeare’s quote, there’s power in a name. When you position yourself over time and people come to know you as this type of person there’s a lot of power in that. Just like there’s power in Rolls Royce versus other car companies and that takes a bit of time. That doesn’t happen overnight but it starts with a conscious decision.
Free Online Training: 7-Figure Health Business Blueprint
If you enjoyed this episode, head on over to iTunes and subscribe to Healthpreneur™ Podcast if you haven’t done so already.
While you’re there, leave a rating and review. It really helps us out to reach more people because that is what we’re here to do.
5 Habits of High Performers
Stasia
Today I’m going to share five habits of high performers with you. Specifically high performing entrepreneurs, but this actually applies to any area of life, whether we’re talking about athletes, parents, or anything else.
The reason I can share this with you is because when I look back at my combined 20 years of experience playing soccer (playing professionally as well), and in business having built some really cool stuff, I’ve been very fortunate to surround myself with some very high level people and I’ve noticed a couple of traits, and habits over the years.
There’s more than five, but I want to share five of them with you in this video.
Spend More Time Strengthening Their Strengths
Number one, high performers, they know their limits, and they’re always looking to push them. They know what they’re good at, what they’re not so good at, and they’re not necessarily looking at strengthening their weaknesses, they’re looking at spending more time on strengthening their strengths and in some cases, delegating and outsourcing their weaknesses to other people who are better at that than them.
So they know their limits, they know what they’re good at, they know what they’re not good at, but they also know their limits in terms of their mindset.
They know that they’re limited by maybe their upbringing, or the fact that they weren’t fed with a gold, silver spoon, and they put themselves in an environment that is going to challenge them to grow. To expand their thinking, to expand their beliefs and horizon so they can reach for new objectives and new goals. So knowing their limits, and pushing them is the first one.
They Seek Feedback
Second, is they’re constantly seeking feedback. They hire coaches, pretty much that’s as simple as how I can put that. They’re seeking feedback, not in the sense of let me watch this YouTube video to figure out how to do something. No, no, no, they’re going to go right to the source, they’re going to hire a coach, they’re going to figure out what it is they’re doing that’s working and what’s not working.
Course Correcting
The third thing that kind of ties in with that is they’re going to constantly be course correcting. They’re seeking that feedback, and then based on the feedback, they’re course correcting. So if something isn’t working, they’re going to pivot and take action and move in a new direction.
Now the difference between the high performers at this point and quote, unquote “losers or quitters”, is that quitters give up. Like quitters quit, right, they don’t course correct. They say this is hard, I thought it was going to be easier and they stop.
That’s why the vast majority of people in this world amount nothing. I’m sorry to say that, but it’s true. You don’t want to be one of those people. You want to be one of the people who rises up, who inspires others to do the same and you can not quit, you have to constantly be taking action, move forward, course correcting based on the feedback and pushing those limits.
Taking Massive Action
Number four is they take massive action. Now this again ties very closely with course correction, but they take massive action. They don’t have to have all their ducks in a row, they don’t have to have everything lined up. They just, a lot of times, a lot of these people they’re not smarter, they’re not like PhD’s and people you think are smarter than you. Quite honestly a lot of times, they’re less smart.
It can be frustrating when you see someone who’s not as smart as you on paper, but they’re killing it in life, they’re killing it in business and it’s just sometimes it’s actually better not to know what you don’t even know and just go forward.
They just go, they take action, they get that feedback, they course correct, and they keep moving forward.
Constantly Growing and Learning
The fifth thing is that they’re grow givers which means that they’re constantly growing, they’re constantly learning and they’re constantly giving back. I say giving back not in the form of charity, they’re adding to the world in the process of serving others.
So, they think of, how do I add value before asking for anything in return? If I’m asking for value, or if I’m providing value, eventually the tap is going to run dry. So how do I continue learning and growing, how can I continue being in environments where I’m learning from the best? I’m taking those lessons and insights, I’m going to share them with others, I’m going to make their lives better and easier, and as a result, get compensated appropriately for that.
In order to give, you have to grow and the more you grow, the more you can give, and the more you give, the more money you can make, because money is simply a reflection of the value you create for other people in this world. The more value you create, the deeper the impact you make, the more money you make as a result. It’s as simple as that.
Yuri’s Wrap Up
So those are the five habits of high performers. Now let me ask you this, are you a high performer? Let’s be honest, are you where you want to be? Are you struggling? Well I’m going to call it out, if you’re struggling and if you’ve been struggling for years then maybe you’re not as much of a high performer as you thought.
It’s still in there, there’s still that kindling, there’s still that flame inside of you that knows that deep down, in the right environments, with the right support you can make this happen.
It’s important to be surrounded by other people who are crushing it, who are doing great in their business and are just great people. If you want to be surrounded by amazing people who are also high performers, send me a message.
Send me a DM, send me a whatever and lets chat because you know, we’ve got an amazing group of health-preneurs that we help at a very high level who are doing some big things.
If you are serious about taking your business to the next level, and you consider yourself a high performer, who’s already doing well in business, and you want to get to the next level, then let’s chat. Send me a DM, let me know where you’re at, let me know where you want to go, and lets figure out if we can support you. Sound good?
In the mean time, I hope you have an awesome day.
If you enjoyed this episode, head on over to iTunes and subscribe to Healthpreneur™ Podcast if you haven’t done so already.
While you’re there, leave a rating and review. It really helps us out to reach more people because that is what we’re here to do.
When to Hire Your First or Next Employee
Stasia
Healthpreneurs, what’s up? Today, we’re going to talk about when to hire your first or next employee.
We don’t actually consider them to be employees. We consider them to be team members.
So I want to give you some context on this because if you want freedom in your business and you want a business that’s scalable, at some point you’re going to have to have other people helping you in the business. Right?
Having a Business, Not a Job
So a couple of years ago, I think it was 2016, I decided to take a two month sabbatical. So I took two months off everything — no phone, more or less, no email, no computer, nothing to do with my business. I took two months off in the summertime and all I did was literally just like sat in the park, hung out with my dogs, lay in the grass, look at the sky, think about stuff and played a lot of tennis.
It was amazing and it was such a breakthrough experience. I learned so many things from that and maybe I’ll shoot another video on that specifically because it’s something I’d recommend everyone does in some way, shape or form, whether that’s a week or a year off or whatever it is.
Anyways, the only reason I was able to do that is because I had a team in place to be able to support the business while I was gone.
My brother who runs operations for our health and fitness business, we see each other a few times throughout the year and I’d asked him, “How are things going?” And he’s like, “Honestly man, it’s better off without you here.”
And that’s exactly what you want to hear because it’s not a shot to our ego or anything else. It’s just that when we can remove ourselves from our business and the business continues to manage itself and multiply without us having to be there, that is truly the essence of a self managing or a self multiplying company. That’s essentially a company, not a job, because if what you do depends on you all the time, then you’re screwed.
So if my entire business was dependent upon me shooting these videos and that was the only way we generate revenue, I would be pretty frustrated.
Three Ways To Determine When to Hire Your Next Employee
I want to walk you through three ways you can determine when it’s time to hire that employee.
Cash Flow
So first and foremost, you have to look at your balance sheet. You have to look at cash flow and you have to say, “Okay. Do I have enough cash flow to be able to hire someone?”
I don’t even hire people for the most part, like six figures off the bat. I think I may have done that once or twice. But honestly, I like to test people out on a project basis or a certain timeframe and then if they perform well and exceed our expectations, then we can just increase their involvement, if you will, in the company — their time, their pay and all that kind of stuff.
The big thing is you have to manage cash flow because if you’re bootstrapping it, which I think most people are, which is great, you have to be very cognizant of the fact that you can’t just throw your money hiring people because those people also have to be generating revenue in some way, shape or form for the company.
So you have to look at cashflow. So number one, you have to cover your expenses and you have to be able to pay yourself because if you run a business that you don’t pay yourself from, what’s the point of having the business, right? You end up becoming a martyr for what it is you’re doing, so as long as you can cover expenses and pay yourself, whatever that might be, that’s great.
Now I’m not saying to yourself a million dollars because if you have to pay yourself a million dollars, you’re going to slow down the ability to grow because you’re taking all the profit out of the company. And I’ve had this happen to myself when I’ve done this in the past and saw the ramifications it has on the business.
So take out what you need, but not necessarily that much more unless you want to do what you want to do with your money, but honestly you can expense most of the stuff through your business anyways.
Everything I do travel wise, is business. I take very minimal stuff out of my company personally. So that’s the first thing, is make sure you can cover expenses and your basic personal income.
Are You Able To Deliver On Your Promises?
Second is you need to understand, are you able to deliver on your promises.
If you’re making promises to help clients achieve certain outcomes and you’re quickly finding yourself overwhelmed, not being able to satisfy that promise, you probably have to look at bringing some people on board, whether it’s additional coaches or people to help you systemize things because the last thing you want is to over promise and under deliver.
It’s a tricky scenario. I know number of people in the health and fitness space, mostly a little bit more on the digital side, in terms of selling products, where they grew so fast that they didn’t even have the support to keep up with it. And they said it was actually worse than not having enough growth to meet the support.
So you never want your customers or clients to feel like, “Whoa. Like what just happened here? I just bought something. I just enrolled with you. I haven’t heard from you in six months.” That’s not cool. So make sure you have the capacity to deliver on what it is that you’re promising.
Trading Profit For Freedom
And third is you’re going to get to a point where you might be willing to trade profit for freedom. So when I mentioned taking that two months sabbatical, I knew I need a couple more people or I need a certain team in place and be okay having less profit in my business to give me a lot more freedom in my life. And still to this day, that’s still my modus operandi. I would rather hire amazing people and build an amazing team that gives me an immense amount of freedom than having all the profit for myself and working my ass into the ground.
So that’s more of a personal decision that you have to make. But for me, having the freedom to come out here and shoot videos and hang out with my dogs and play with my kids and play tennis and work maybe 20 to 25 hours a week, that’s pretty cool, right? Having the freedom to take off on vacation whenever I want.
As you get older, you realize that the value of time increases and the value of money decreases. When you’re younger, it’s the opposite. We value money more, time less. We’re grinding away. We want to make a lot of money. As you get into your late 30s, 40s, 50s, and beyond, you start to recognize how important time is and you’re willing to pay for that.
So those were three distinctions that I’ve used to help figure out when it is time to hire people and I hope that serves you as well. Now, if you’re growing your company, if you’re growing your team and you want help on this and you want to really take your business to seven figures and beyond, let me know.
Send me a DM. Let’s chat. We’ve got an amazing group of clients that I work with very personally and closely, and helped them do just that.
So if that’s something you’re interested in and you want my help to support you in that scaling process and you want to be surrounded by other great people who are building awesome teams, let’s have a talk because we’re doing some awesome stuff and we’d obviously love to support other visionary health entrepreneurs grow their businesses without compromising their life in the process.
That’s all for today. I hope you enjoyed this one. If you have, please share it with a friend and I’ll see you soon.
If you enjoyed this episode, head on over to iTunes and subscribe to Healthpreneur™ Podcast if you haven’t done so already.
While you’re there, leave a rating and review. It really helps us out to reach more people because that is what we’re here to do.