 Hey coach welcome back today. I want to talk about why you should stop undercutting the pricing of your competition So I'm going to give you a great example here. Okay in my city So in my city for every single sport. There are coaches who try to undercut their competitors And here's why this is a problem. All right I'm gonna give you a great example and if you have a pin and a piece of paper You'll be able to break this down while I'm talking. Okay, let's say your business Charges $50 an hour Okay, I don't recommend doing anything by the hour if you've followed any of our podcasts or a youtuber email newsletter I don't recommend that but let's just say that's what you think you were valued at $50 an hour Okay, and there's someone else in your town who offers something at $40 an hour So now they're charging $10 less than you and maybe they have more clients and then you start to think in your head Well, wow, they're at $40 an hour. I'm at 50. Maybe I'm too expensive Maybe that coach is getting more players in me because the price is lower And then you think in your head well, maybe I should do $35 an hour this way I am cheaper than that coach at 40 and then you start to get more clients And then you start to feel like you're training way more at the field at the court or at the park Because now you have all these clients who are paying less So notice what I just said you have all of these clients now who are paying less And this is the way it works when you have something that is too affordable When you have something that is cheap You will attract the wrong clients Right because what you could do is you could stick to your guns and be like, you know what that person's offering at 40 I could do it at 75 I could do it at a hundred and they could work as and they get as many clients as they want to But they're going to have to work so many more sessions than I would ever have to and I'm a good example of that in my city right my pricing that I have for private training is at a premium and That's because I know the value of my time and I know the value of the results That we've proven with the players who've come through our training program Right if I wanted to try to undercut everyone else I would have to work two or three times more at the at the park that I train at which is not smart Okay, if you think about that I would be working two to three times more if my pricing was was half of what it is And I would still be making the same amount of money Right. So this is where you have to think about What is your value and what do you want to offer and who do you want to attract into your business? Do you want to have really high quality athletes or high quality players? Committed to your programs for month after month after month or do you want to offer something? That's cheap. That's too affordable just because your competitor is offering something Either cheaper than you or you feel like you need to undercut them, right? So that right there is why you shouldn't do it and here is a little mindset shift that you might want to take Okay, and to me, this makes total sense All right, there is a general doctor and there is a brain surgeon The brain surgeon typically will make at least three to four times more money than a general doctor The general doctor will service everyone Right brain surgeon is very specific. He is a specialist You want to take that approach with your business. You want to be a specialist that specializes in helping players Through a very unique way that no one else can do it. All right, and this way you can separate yourself From the general trainers. That's how the way I look at it. Most coaches are generalists All right, I want to be a specialist and when you're a specialist You can charge more you can offer more value and you can get better results with the clients that you serve So that is how you want to think about it And this is going to allow you to double or triple or quadruple your pricing All right, if you know how to leverage the value that you provide, right that right there is gonna be key You can't just raise your price for the sake of raising price You have to raise the value that you're providing this way the clients that you are getting All right, they're seeing better results than they would if they're training with someone who's offering a mediocre service, right? So that is how I would do that if I was you all right You don't want to be a general trainer You want to be a specialist and when you're a specialist you can start increasing your prices Your value is going to be better and you're not going to need to undercut any competitors in the future And if you're paying too much attention to your competitors, you're not paying enough attention to your market You should be thinking about Attracting the highest quality families in your program period. All right, that's it for this video If you want more help, I'm just a phone call away. Here's how it works. You go to my website go to www.buildmysportsbiz.com At the top of the page it says mastermind. It's a huge blue button click on that It takes you to an application form from there. All right, you and me will schedule 15 to 30 minute time to chat on the phone. I can get to know who you are I can see what you need help with and I would love to help you out I do this every day guys So you hear me talk about it in every video every single day. I'm on the phone with coaches I would love to help you out. It's a free phone call. You got nothing to lose. I'll see you on that phone call