 Hey, what's up welcome back to my channel now in today's video. I'm gonna go straight into it You clicked on this video because you want to learn how to charge premium fees and How to get clients ultimately to invest more money into your services now this Spreadsheet here is exactly what I went through earlier with one of the coaches that I work with one-on-one He sells a package. It's four thousand dollars per customer and I'm not gonna go into detail about what he offers But I'm going to really just go through the questions that I had him answer Once he answered these questions. He was way more clear Not only with what he's offering, but who to offer it to and he was way more clear Like when he takes on a new client how to onboard them without spending more time Right. So these questions here. I have six questions Let's go through this together. So if I'm you I would take out a pen piece of paper if you want access to this spreadsheet Send me a text message at 2109605771. I'll send it to you I'm not gonna put that in the link in the description For lazy people if you're serious if you want the spreadsheet text me and I'll give it to you now Let's start with the most important thing first, which is what is the deep problem? I solve for my clients. This is something most coaches and trainers never ever think about They're thinking well, I'm just gonna go put on sessions for my clients Coaches are not thinking about what is the actual transformation that I am delivering to my clients what is the outcome that they should be getting and That's not just about like for example, if you're a basketball trainer soccer player That's not just about them playing better right and You know, if you ever have a chance to get on a call with me one-on-one I can go into probably more detail about what's the real deep problem that you're solving For for your clients, but this is the thing you have to understand you have to clearly answer that and When you clearly answer that ultimately what you have is you have a business that solves deeper problems than other coaches and trainers in your area Right, and when you have that you can always charge more because you are talking directly To parents who have kids that suffer with that type of problem that you're solving Right, that's different than just being a skills trainer This is why coaches that I work with always end up charging way more money for their services because we pinpoint What is the problem that they solve? I can't tell you what that problem is that you're solving because this is a YouTube video and I'm not you're not in front of me right now Right, but that is the first question second is how long does it take? For my clients to get the transformation. So does that take three months six months? nine months a year What is that for you and the only way to really? Understand that is by looking at the metrics in your business and looking at the results When I say metrics, it's lifetime value of the customers. What what are your customers achieving? What's the results that they're they're getting when they're in your program? What's the drop-off level are they dropping off a month after they join your program? Or are they really committed to your program for years? Right, so that is a question only you can answer All right next here is if paid in full. What is the price I command? So that example I gave you earlier with the coach that I'm working with he charges 4k so 4,000 per client That is the paid in full price So with that, all right You can just do the math here if he if he gets 25 clients in one year, all right at 4,000 That's a hundred thousand dollars per year, right and that's assuming that 25 of those people they stay in his program for a year, which is what he has And they drop out right they drop out after a year. He's starting the second year over again That's not the case with his business because he has very high retention rate So he might have he might close 25 people in one year the next year he might close 35 And he's adding to his program at this point, right now. I'm just using these numbers a simple demonstration here He has way more than 25 clients that he's working with So the higher that you charge though ultimately the less clients that you have to work with Right, if you charge a very low amount you need to have a lot of clients that you're working with and It's very difficult to charge a low amount of money If you're solving a huge problem Right people who have a really big problem are willing to pay way more than you think to have that problem solved Right, so that's why we always need to charge a premium Right, if you're going to solve a big problem for solving small problems, guess what expect to charge a very little amount, right? Next one here if it's a split payment, how many months have paid off? so one of the changes I made in my business recently is I don't do like Annual sorry. I don't do like monthly payments anymore. That's something I've done for years I've gone away from that recently where If a client wants to work with me one-on-one Or in my group setting whatever They're either going to pay upfront for everything or I'm going to break it into three payments that are due in three months from now So they'll have more skin in the game immediately than a monthly payment And all of those payments roll in over three months instead of 12 months And I can tell you just from experience making that change has simplified my business a lot and I would recommend if you have any sort of upfront option That should be something that ultimately if they pay that they're getting your training at a discount And if they choose the three payment plan that I'm talking about here, they're paying more total than they would if they're paying upfront All right. So again, that's a question you should answer Next one is how many clients total do I need? to make 100k in the next 12 months Now you could replace 100k with 50k or 200k or 300k that's up to you, right? If you haven't gotten to a hundred thousand dollars per year yet with your business Then I think that would be a good goal if you're just starting your business I think a good goal first is to you know make $50,000 in one year All right It shouldn't be try to make a hundred thousand dollars one in the first year of business because you Probably won't get there unless you're really good at sales at the beginning All right, so this just comes down to numbers All right, and with that example, I said four thousand per customer per year Um, you know, he just needs 25 clients. That's closing one client every two weeks during the year which is unbelievably doable All right, if you're marketing if you're confident with sales and if you're solving a big problem If you're solving a small problem, you can't sell something for four thousand No one wants to pay four thousand dollars for a small problem to be solved All right And lastly here, this is one of the most important things if I add a new client Am I the trainer? All right in the business or am I working more hours for every client that does come on? So here's what I mean if you Add two new clients that pay four thousand dollars each Are you having to work more with those clients or are you putting them into a system? Right and there's a big difference because one would be like every client you add you're putting them into private training Right and a lot of coaches don't do this But this is something I do and something I would coach you on if you ever part of my consulting program Every new one-on-one client you get On average if they're in your program for a year, you're going to be spending minimum 52 hours extra with that client Over the course of the year if you see them once a week over the course of 12 months All right, so if you have two clients that you add at four thousand Like that's eight thousand dollars upfront, which is great, right? But now you're spending 104 hours extra time For that for those two clients and that time compounds with every single client that you end up adding right And so it can be this scary snowball of time that gets Just completely lost even though you're generating money, which is great Right all of your time gets followed up now if you have this set up for group training Those two clients now that just got got added are being put into a program that already exists And that way you're not spending more physical hours With those clients, so it'd be like you adding two clients. They pay eight thousand dollars total They get moved into a group that's already functioning And you're not working more hours with that group you're working the exact same amount of time And this is why a lot of the coaches that I work with one-on-one or in our group program They end up working way less and when they close clients, they're not having to spend more time with those clients They're putting them into a system Now if you watched this video of all those clicks and you want like more coaching To to get ultimately get more clients that pay more money Upfront or over the course of the year I really encourage you to go to my website go to build my sports biz dot com And there is a tab there and I'll show you here So if you get to my website And go down the page and you click on consulting options If you're serious, you've watched some of my youtube videos, you know that I can help out and and you want help you're hungry to get help go to this page here Watch this video. It will show you how to apply To either get my help one-on-one or to join our group coaching program. That's it for this video Install what we're talking about. I know that's going to make a massive difference in your business It's the same exercise that I do if I was working with you And when we get crystal clear on that you get more confidence with your offer because you know the problem that you're solving That's it. Hope this helps and catch you later