The Biggest Cost In Your Business (Not What You Think)

Transcription

Hey guys, welcome to another episode of the Healthpreneur Podcast, I’m back with you once again, and today we are going to be talking what’s the biggest cost in your business, and it’s most likely not what you think.

 

What we experience with Healthpreneur

Now let me give you some context and share a little story with you. We speak with a lot of people, lot of health coaches and experts every single week, as you know, and many of them decide to enroll with us, and work with us, which is awesome. And others are, they know that they want to work with us, yet they want to get all their ducks in a row before committing. Right? So they’re like, you know I’m going to start this in January, I’m going to start this in three months when I have all this other stuff figured out. And therein lies the biggest cost in your business. The biggest cost in your business is the revenue you’re not making. So when you say, I’m going to delay this, I’m going to start in a couple of months, that’s actually costing you a lot more than if you started right away.

It’s funny the way the human brain thinks, we think that we’re going to get our ducks in a row, which by the way never happens, but we think we’re going to get our ducks in a row and then we’ll be ready for something. But the reality is that you have to commit first and figure out the rest later because let’s say that someone decides to start now and another person decides to start in three months from now, this goes exactly the same with your clients. Okay now with your clients they’re not talking about necessarily money in return on investment, but it’s going to be ruled into their health and fitness goals. Okay? So we’ll bring all that together in a second.

 

The true cost in your business

But let’s say someone starts now, another person starts three months from now, the person who starts now is going to have everything deployed and probably earning money in three months time, at least with our help. The person who starts in three months is three months behind. So not that this is a race necessarily, but if you’re coming into a phone conversation there’s a reason that you booked that phone call in the first place. And we understand that not everyone’s a right fit, but if you feel it’s a right fit, there’s no sense in delaying because you’re simply delaying how much money you’re bringing into your business, and the very fact that you’re not earning the money over this interim, is the true cost in your business.

Every single day you delay, is costing you in your business. You see a lot of people want to earn an extra 10k per month, well what ends up happening is that, let’s just use the example of 10k a month, because obviously a lot of people want to earn a lot more than that. But let’s just say you want to earn 10k a month, well how long have you wanted to earn 10k a month? Let’s just say it’s been two years, that you’ve been working on your business and nothing’s really working the way you want it to. But you’re still working to 10k per month, okay that’s your goal.

Now let’s look at 10k per month which you’re not making, or let’s just say an additional 10k a month, so you might be making a couple of k, whatever. Let’s say you want to make an additional 10k per month, every single month that passes by that you’re not making that money, is the true cost in your business. So let’s say you’ve been working for two years, 24 months times 10k per month, the true cost in your business is $240,000. Now let that sink in for a second. Let that sink in for a second.

Because if you say you want something, and you’ve been working towards that for any amount of time and it hasn’t happened, that gap is the true cost in your business. And the longer you delay, the more you rack up that cost of business, of not having that revenue you say you want. So in the example I just mentioned, you want to earn an extra 10k per month, it’s not happening, it’s been two years you’ve been trying to do that, your cost is $240,000.

 

The no-brainer investment if you believe in yourself and the program

Now I don’t know about you, but it doesn’t really matter which program, or which coach mastermind you join, none of them are going to cost you anywhere near that. Now obviously the good ones will help you recoup your investment very quickly, but there’s no way you’re going to be joining a program, for the most of them, that are going to cost anywhere near $240,000. 5, 10, 15, 20 or $30,000 whatever it might be, that is a no-brainer investment if you are a true business owner because you understand that, assuming it’s the right fit, it will help you make that money back.

There’s two things you need to have in place, in order to move forward with any type of decision like that. Number one, and most importantly, you have to believe in yourself, because if you don’t believe in yourself, you will never believe in the program. Because you will always be looking for, well what are other people doing? What are other people’s success? And I understand social proof’s important but what that means to me, what that tells me is you don’t believe in yourself enough to make it work. The second thing, is that you have to believe in the product, you have to believe in the program. And if you don’t, then obviously you don’t even consider enrolling in it.

But if you know it’s a good fit, and there’s that fear and apprehension because you’re not too sure if you can make it work, that is a self doubt issue. And you have to figure out, after you commit, how you’re going to make it work. And this is the true difference between really successful entrepreneurs and everyone else out there who continues to struggle. It’s, they’re looking for all the certainty before they commit, but that’s not the way it works. You have to commit first, then the certainty shows up over time. You have to believe it before you see it. And if you continue to delay and delay and delay and delay, it’s only costing you more and more and more every single day.

 

Telling prospective clients the true cost of their decision

Now let’s translate this to your clients, so if you’re on the phone with a potential health coaching client and they’re telling themselves or they’re telling you, listen this sounds great, I just want to wait a couple of months to lose weight before I hire a trainer, that type of argument. It’s the same thing here, let me ask you a question, you came to me, we’ve had this conversation today, because you told me you’ve been struggling with emotional eating for the past 10 years. So you told me that it’s costing you XYZ, but the way I also look at this, it’s also costing you 10 years of suffering, of having not found a solution to this. So are you okay continuing to suffer for the next couple of months?

Right, so what you want to really translate to your perspective clients is that them not taking action is the true cost, it’s not the investment in your program, it’s the cost of not doing anything that’s really going to hurt them. And this is why you have to know how to have these conversations with people, because if you don’t and someone says, listen this is too expensive and I want to wait. And you don’t know how to handle that then the default response is going to be like, okay cool, yeah I understand, maybe we’ll touch base in a couple of months, nave a nice day. And then that’s done. Right?

 

Knowing how to handle the necessary coaching conversations

So part of what we help our clients with, is really understanding how to have these conversations that, assuming you’re a mutual fit, right? Your clients and yourself? You have to do what it takes to enroll that person, because if you let them go you let them down. And if you don’t know how to have a quote unquote ‘sales conversation’, right? Which is essentially a coaching call, it’s not a sales pitch, right? If you don’t know how to have those conversations and ask those hard questions, and know how to handle various objections or complaints or stalls that might come up, you’ll never achieve the results you want.

And if you don’t achieve the results you want, you’re going to be frustrated with quote unquote, ‘selling’. Most people don’t like what they don’t understand. So if you have an apprehension or fear of selling, it’s because you don’t understand how to do it properly. And again, we’d be happy to help you. So that’s what we do every single day for our clients, is we help them not only with their perfect client pipeline, but also how to speak with perspective clients on the phone. To have a conversation that is a coaching call, that eventually results in an enrollment, if there is a mutual fit.

Now, again if you want our support, if you want our help, hey, we’d be happy to do so.

First step is to watch our free online presentation. It’s called The Seven Figure Health Business Blueprints, you can attend it for free over at Healthpreneurgroup.com/training.

Now if you haven’t watched it, again the true cost in your business is delaying even more. Every single day, if you’ve listened to any number of episodes on this podcast, you know I’ve always mentioned watch this training. Maybe you heard that the first time a month ago, maybe you heard it six months ago, I don’t know, but if you still haven’t watched the training you are costing your business a lot of time, money and frustration.

So my challenge to you today is this, if you’ve been procrastinating, procrastination is really the true cost in your business, take action now. Watch the training if you like it, and it makes sense, book a call with us, and we’ll get on the phone with you. And we’ll figure out if we can help you, and if we can, we’ll tell you exactly how we can do so. Does that make sense? So again, it’s over at Healthpreneurgroup.com/training, in the meantime, thanks so much for joining me today, hope you’ve enjoyed this one.

Remember subscribe to the Healthpreneur Podcast, lots more great stuff coming your way. And continue to go out there, be great, do great and have an awesome day.