 What's up, coach? Welcome back to our channel. Welcome back to this new video. If you haven't yet, make sure you subscribe to stay up to date with all the content that we put out on a daily basis. At this point, we've got success coaches within our company who are putting our content on a regular basis and they're focusing on different sports, all right? So if you're in aquatic sports, if you're in soccer, if you're in basketball, if you're in sports performance, then make sure you subscribe because we have success coaches that are putting out content every single day to help you to grow and scale your coaching and training business. So today I wanna talk about how to transition from cash to monthly subscriptions. Now, this is something that our company currently specializing. We are, I pretty much say experts at this and we're experts at coaching and teaching business owners how to do this, right? So I wanna share with you three simple things to take into account when you wanna transition from that cash-in-hand model to a monthly subscription. So to begin with, what do I mean by cash-in-hand? So cash-in-hand is when a trainer is working with a client and that client doesn't have an agreement in place. They don't have a set day, set time every single week they're training. All they do is they turn up to a session and they're paying that coach for the hour, for the hour and a half, for the two hours and it's a system that is more sporadic, okay? So that model in the long-term doesn't work for a number of reasons and that's something I can share with you in an upcoming episode. But if you wanna know more then we've got 700 plus videos that we've already recorded are on our YouTube channel that talks about why cash-in-hand just doesn't work long-term, right? So what we wanna do is we wanna set up a subscription where clients are becoming more committed, they're seeing you on a regular basis and you as the trainer are getting paid month to month, okay? So I wanna break down these three things. So the first one is if you can see on my screen I've got three, six, nine and 12 month commitments. So when you transition from cash-in-hand or a cash model to a subscription the first thing you need to do is you need to get parents and clients on a monthly commitment. Now in our company when we work with a business owner normally what happens is coaches starts with a three month commitment to begin with and as they start to build confidence then they move into a six or nine month commitment until they get really confident and then they start selling 12 month commitments, right? So to give you a breakdown of what this looks like if you're closing a client onto a three month commitment then how that looks like it's your client is seeing you once a week, right? On a set day, set time. So this could be a Monday evening from 5 p.m. to 6 p.m. every single Monday in that month, right? So they might be seeing you four times per month they might be seeing you five times per month and ultimately what they're doing is they're committed to seeing you for three months consistently, okay? So there's no, they come one week and then they skip two weeks and then they see you on the third week or the fourth week this is a consistent schedule that they're seeing you every single week for a set time. Okay, so if your sessions are an hour long and they're seeing you from 5 p.m. to 6 p.m. that's our training session every Monday at that sit location, sit time, okay? So in order to transition from a cash in hand we need to get parents onto a commitment, monthly commitment so that they are seeing you regularly which means that their child is gonna get great results and there's more commitment on their behalf, right? Because when they are, when they're seeing you on a regular basis and they have a commitment in place then they're more likely to show up to that session or to those training sessions, right? So as I mentioned at the beginning a lot of coaches what they tend to do is when they start working with us they'll start off with a three month commitment and then as they start to build more confidence they might start selling a six month commitment and then nine month and then hopefully we wanna push coaches to go into a yearly commitment where parents are committing for the entire year to training with you, okay? And just think to yourself how better your client will get if they're seeing you on a week to week basis. Right, so the second point is player and parent agreement contract in place, okay? So when you transition from a cash in hand model to a monthly subscription, there has to be a waiver or a contract in place that the parent or the client signs that they agree to your terms and conditions. Now most coaches when they do cash in hand the cash model which we don't encourage trainers to do then what things that happen is most of them don't have any agreement in place with their clients. So that parent ultimately decides when they show up to your session they decide when they pay you if and when they pay you and pretty much it's not a steady and regular schedule for the trainer or business owner. But when you get parents on an agreement, so for example, if you're selling a three month agreement then what parents have to do they have to sign a contract with you that they agree to stay in your program for three months and that training will be once every week at the sit they sit time that they agree to show up on time they agree to give a hundred percent they agree to pay you every single month, okay? So there has to be an agreement in place for that three, six, 12, nine month commitment to work. All right, what we encourage coaches to do is if you're getting clients on those type of contracts then so on those type of agreements then there has to be a contract in place, okay? If you haven't got parents on a contract then ultimately what will happen is they might train with you the first month and then by the second month something might come up and they turn around and say, right, Leo, we can't train with you this month we're going somewhere else or we have to stop. And what happens is, you know if there's no agreement in place then you're not gonna get paid, okay? So the whole point of an agreement or a contract is to make parents think, right, if I'm going to do this I need to commit to this, okay? And ultimately what we look to do is we look to get coaches to kind of scare certain clients away. And that's not because we don't want coaches to get clients but we want coaches to work with committed clients so that they are getting great results for their business. They're working with players that ultimately are a good fit to work with and they're working with clients that will make their business better, stronger and they will refer other like-minded clients to them, okay? So when you transition to a subscription model there has to be an agreement in place so that parents sign they agree to your terms and conditions and ultimately they're gonna agree to showing up and training with you, right? Now the third point I've got here there has to be an online payment platform in place, okay? So a company that we use within our company to do all our payments a company that I use as well is Samcart, right? Samcart is fantastic. You can do all your online payments for you you can set up monthly subscriptions you can set up camps and clinic, landing pages, right? You can do a lot with Samcart and what that does is once parents agree to your terms and conditions and they agree to stay in your program for three months then we set them up on an online system such as Samcart where Samcart is billing them every single month and what happens is that when you have an online platform right, you aren't chasing parents for payments, okay? The Samcart does all of that for you it bills the parent and then Samcart pays you every single month so all you have to do as the trainer is you focus on training the client, getting great results and just adding more value. So if you want to set up a monthly subscription you have to have an online platform that is doing all your billing for you, okay? Some coaches have tried it where they're getting parents to pay cash in hand monthly but ultimately that doesn't happen, right? Because again, parents are in control and also parents, they might be a month where they don't show up and if they don't show up, you don't get paid, okay? So when it's all done online, you know, on the client side there's no excuses not to pay you, right? Because all the client has to do is they type in their bank details and everything else is done for them, okay? So if you need more help on this then there's two ways to get in contact with me The first one is you can set up a free 15 to 20 minute call with me via Zoom. If you want to do that, visit the Canon Lee in the description of this video, click on the link and you can set up a free 15, 20 minute call to talk with me about your business or the second way, if you have questions for me then you can send me your questions to makemoneycoachingsportsatgmail.com I respond to every single coach who reaches out so make sure you send me an email and I'll respond within 24 hours of receiving the email, okay? If you haven't already, make sure you subscribe to the channel to stay up to date with all the content that we put out, okay? Thank you for watching and I'll see you on the next one.