 Hey coach welcome back to the podcast. My name is Ben neighbors and Before you do anything else. I want to make sure you subscribe to the podcast subscribe to our YouTube channel here This way you get updated every time we put out a new episode and we put out a new episode once a week But on our YouTube channel here We publish two videos every single week and we're gonna be doing that throughout the course of 2020 and also check out all the other videos that I have on this channel We've uploaded over I think 350 different videos so far So there's a wide variety of topics I talk about and if you're a coach and or your personal trainer You're looking to grow your business this channel is for you, right now in today's episode We're gonna be talking about how to stop trading time for money Now this is a video I wish I would have seen 12 years ago when I started my business and back then I didn't understand the concept of trading time for money and Let me tell you exactly what I used to do. All right when I started my business. I Thought in my head. You know what? I don't have that much experience so I'm going to charge a very little amount of money for a lot of time and Initially when I started it was free. I did not charge any money, but once I started charging. It was $15 For 90 minute sessions. Now. Here's what I want you to think about First it took me about 30 minutes to drive to the spot that I was training All right says 30 minutes right there then it took me about 15 to 20 minutes to set up for the session All right, so right there. That's 45 minutes of time then it took me 90 minutes to the session So right now I've already at this point already spent More than two hours of my time to drive set up and then if that was my only session that day I would drive all the way home Okay, now I want you to think about that I'm trading a lot of time a big chunk of time for a little amount of money and Even if I had a lot of clients all right, let's say back then I had 10 clients I Would only make a hundred and fifty dollars a week if I saw each client one time And if they came on a set day set time Often times those clients wouldn't show up every time and if they didn't I didn't get paid right and what I want you to think about though is If you're in this mode right now where you're exchanging your time for 50 bucks 75 bucks or 40 bucks right you can look online the average Personal trainer is charging anywhere right now between like 40 and $60 per hour But if we look at that you have to work a lot of hours in Order to make a great living right and if we just break down the numbers. Let's say you charge 50 bucks, okay, so you charge $50 an hour and Let's say your goal is to make a hundred thousand dollars in one year All right, all you have to do is think about okay. Well if I charge $50 an hour, let's say you have 20 clients okay, you have 20 clients who are coming once a week. They're all paying 50 bucks an hour You're gonna make a thousand dollars a week. Okay So you have 50 times 20 clients. That's a thousand bucks. Okay Thousand times four month or sorry four weeks. It's four thousand So now if you look at just the rate of charging fifty dollars, you'd be making four thousand dollars a month That's forty eight thousand dollars a year. So that's half of what your goal is So that means if you stayed at fifty dollars per hour You would have to train Over 40 clients so over 40 hours of training per week in order to make a hundred thousand dollars a year Now I don't know about you But I know for it is for me. How does for me when I was training between like 30 to 40 hours a week My body was dead. I got to a point where I got extremely burned out And the thing is when you get burned out your clients will feel that the quality of the session is going to drop and the sessions you have are going to suck to be honest and and What we want to do is we want to avoid the burnout and the way you avoid the burnout is you stop What we're talking about you stop trading time for money. So how do you do that? Well, what you need to do is first we need to think about Instead of charging per session, we should have a monthly program that you can sell That is different. All right, because if you have a monthly program You don't have to ask for money And at that point you're not really trading time for money because you have someone who's Committed to a longer period of time. They're gonna show up and if they don't show up, they're already paid All right, this is how we want to run your business But we want to go from being like the fifty dollar Per session trainer and we want to raise your value. We want to command higher fees All right, and this way what you can do is you can have an elite one-on-one training program Where you're commanding between 400 to 800 dollars per month and then you can also have a group training program That's between a hundred and fifty and two hundred fifty dollars per month Now if you have that set up then there's a way to funnel and clients to one of those two different programs and this way ultimately you can scale out your group training and With group training right a lot of the coaches in in our mastermind program right now like I would say on average In their group training sessions, they're making around three hundred dollars an hour Right, that's six times more than someone who's doing a fifty dollar per hour session And how do they do that? Well, it's because they have systems in place They have their marketing in place and they have different options that parents can choose from and Instead of trading their one hour of time or 90 minutes of time for fifty bucks All right now they're they're making way more money working the same amount All right, wouldn't that be something that you want to if so? I want you to text me at this number right here. It's gonna pop up on the screen If you're listening on iTunes or Spotify, it's two one zero nine six zero five seven seven one Shoot me a text there this way you and I can get in contact and I want to show you how we can go away from this This concept of trading your time for money because your time is really valuable And I want you to be able to work smarter not harder I don't want you to keep grinding it out every week where you're just sick and tired on Monday morning Of going to your next session. I don't want you to do that instead I want you this in a way where we have systems and processes in place Where you can work less and you can earn more money because you are a great trainer you deserve to have more money But we need to do this in a smart calculated way. All right, that's it. Shoot me a text there That way you can get in touch with me. I'm not this YouTube guy That's not gonna text you back and I don't have this person who's gonna text you You're gonna be talking directly with me and I'm gonna make sure you get the help you need All right, that's it. I'll talk to you soon