 Welcome back to our channel. If you haven't yet, make sure you subscribe to stay up to date with all the latest content that we put out. Also, if you want to get in contact with me to talk about your business, there's two ways you can do that. If you visit the description in this video, you'll be able to contact me through either Calendly or you can send me a direct message to my email to make money coaching sports. I make it a mission to get on calls every single day with coaches and I also respond to every email that I receive. Okay, so if you're stuck with your business or you need more help, you need some clarity, get in contact with me two ways you can do that. I'd love to connect with you however way is more convenient for you. Okay, so today's video is not intended to scare you but it is intended to make you more aware of what is coming in the upcoming year. Right, so we are currently now in 2023, we've left 2022 and all the forecasts, all the economists are predicting that we are going into a recession. There's some countries that are already in a recession but what we want to do now is we want to prep you mentally in order to prepare for this recession coming up. Now, when we go into recessions, it doesn't necessarily mean that you're going to stop having clients. Right, people still do business in recessions but people change the way they do business. Right, so if you're a parent and you have noticed that your cost of living is going up, I can guarantee you that what you've started to do now is you've started to prioritize certain things over certain things which means the things that you might have been spending money on in the past now as things have got more expensive, you're thinking to yourself, right, I can't afford that now or I don't need it right now. So you've got to put yourself in a parent's place. Right, parents are still going to spend money, they're still going to invest into their child but they're only going to do it in a way where they feel that you know what there's a lot of value here and I need to keep paying for it because it's getting me and my family great results. So there's three things I look at when I speak to coaches that are either concerned about the recession or if they're going through a bit of an economic crisis with their business, these are the three ways to approach it. Okay, so the first one is build discipline. Now, building discipline isn't just with your business but it's also self-discipline as well. But what tends to happen is when coaches go through great economic periods with their business, right, they're getting regular clients coming in, new clients, businesses doing well, sometimes they tend to lose a little bit of that self-discipline so they'll go to bed late, they'll start to waste time on certain activities that aren't pushing their business forwards and they wake up late, there's no real structure in their day. What we need to do is when we go into a recession, we need to make sure that we prioritise our time the best possible because you have to put yourself in the mentality that, right, you and your competitors are all now pushing and should we say fighting or a certain type of client. If you're waking up late and your competitors are waking up early, they've got an advantage over you. So you've got to have that hungry winning mentality when we go into these type of economic turn-downs because your competitors will want to take your clients off you, right. They're going to want to get more clients, they want to grow their business and they want to take you out of business. So we've got to start to build discipline not just within our business, making sure that we're consistent with marketing, making sure that our training sessions are up to a high standard, making sure that we get doing our sales calls, we're following up with prospects, we're doing all the sales activities in order to push our business and keep consistent, not just that but we also need to make sure in our personal life that we're staying disciplined, right. So we're waking up early, we're making sure we're eating right, we're exercising, we're reading, we're studying, we're investing back into ourselves. So we're doing the things that need to be done in order to get not just our business but ourselves to a high level, okay. Now the next one is learn the rules, right. So when we go into a recession, when we go into an economic turn-down, there's certain rules and there's new rules within the economy, right. Parents play the game to a different way and coaches need to learn how to play the game the way the new game is, right. I know it sounds, it sounds a little bit ridiculous but the way I break it down is when, I'll give you an example so you know what I'm saying, right. So when we went into COVID, right, that was a completely new game for coaches. Coaches couldn't, for the most part, most coaches couldn't train clients in person. So what they had to do is they had to learn the new game, right. I need to now move my training online, okay. What is the, what is a good online platform that I can use, right. Zoom was a fantastic one, okay. Now I need to learn how to use Zoom, okay. I've done that. Now I need to learn how to train clients online so they're still getting great value and they're still staying on as clients, perfect. How can I now transition if I'm getting cash in hand but now I'm not seeing clients. Now I need to transition all my, all my payments online so I can start receiving payments and parents can start paying, right. So during COVID, the game was how can I transition what I'm doing in person online so I can still continue to work with clients, continue to get paid and not just grow my business but also provide for my family. So this recession is a new game, right. Parents are maybe not investing as much into certain activities but what you have to study what are parents looking for. They maybe parents want more confidence for their child. Maybe parents want are still investing in technical training or maybe they want a certain type of training. It might be an online workshop that you can provide for them. Or maybe they can't commit to your one-to-one training but maybe you can transition them into group training where it's a little bit more financially able for them and they can afford it, right. So instead of training clients one-to-one can we transition them now into groups where it's a little bit more affordable for them and you can keep them on as clients. Okay, so you have to learn the rules of this new game that we're playing. Okay, like I said COVID was how can we get all our clients online, provide great value so we keep them and we keep training them. Now in this game, right, we can still work with clients but now parents are more thinking about right where am I spending my money. Is spending my money with coach Leah worth it or do I not see enough value there and I'm going to spend my money with someone else. Okay, so there's going to be a lot more competition around and this industry is going to continue to grow. There's going to be more and more trainers in your area which means parents what they're going to start to do is they're going to start to be more picky with where they spend their money. Okay, because before they could maybe spend their money on two or three trainers per week so that their child is getting variety of training. Now in this new game, parents aren't going to be aren't going to want to spend money on two or three trainers. They're going to want to spend money on one trainer and make sure that one trainer is providing results and providing value. So you've got to learn the game where are parents spending their money, how they're spending money, what type of training do they need, what are they looking for? What's the latest trend at the moment with parents in the training industry? How are your clients learning? Because sometimes parents with stress and problems at home, maybe the players you work with need a different type of training. Maybe they need more mental training rather than physical training. So it's a completely new game. You need to work out what is working, what is not working and how do you play this game. You need more help with this, make sure you get in contact with me. Currently working with a few coaches, helping them with this, transitioning from how they're doing it which is not working to a more committed model where parents are paying upfront for training, they're staying in the program for longer and they're getting more committed. Now the third one is add more value and be different from everyone else. So what's going to happen is as we get into a recession, a lot of bigger companies are going to start to lay off people. So essentially people are going to start to lose their job. Now what's going to happen is a lot more people are now going to move into the sports training industry because the sports training industry isn't going to stop growing. It's going to continue to grow more and more and essentially in some cities it's going to become very saturated which means there are going to be a lot more trainers offering similar or the same things that you currently offer. So what you need to do is you need to find ways, how can I add more value to parents so that I can become different from my competitors. So where maybe in one town there were two trainers, now in 2023 it's going to double that. You'll find there'll be 10 different trainers in one town all offering similar or the same type of service as you are because more and more trainers are going into this industry maybe to do it full time some just to build some supplemental income to what they're currently doing right but there's more and more trainers coming into this this this type of niche, this type of industry which means it's going to be more saturated, it's going to be more crowded but you need to find ways as a business owner how can I add more value to my clients so that my clients don't have to go anywhere else and spend money they can continue to invest money in my company with me and for my training and how can I be different to everyone else. So if you need more help make sure you get in contact with me like I said I speak to coaches every single day I connect with coaches I get on Zoom calls share my expertise with coaches I give them actionable steps that they can take this week to help to grow their business right I offer these free 15 to 20 minute calls you know take it up the worst thing that can happen we get off the call and you can take some of the some of the advice and strategies that I shared with you and go and implement them into your business if you don't want to do that you just want to send me an email then that's fine as well I do respond to every single email that I get from coaches okay thank you for watching and I'll see you on the next video