Price Positioning + Multiple Streams of Income

I am going to start writing a short article each week here, the idea being to “check in” and summarize what happened in MY businesses over the previous 7 days … and also to share any lessons I learned that may be of value to you and what YOU have going in your fitness biz.

So let’s get right into it – here’s what I worked on this week, and a couple of take-aways:

1 – Price Positioning

I ran promotions for both my “Elite”, one-on-one coaching programs, AND my group coaching / membership site this week.

My Elite Coaching is my highest-level coaching program.  It’s highly individualized to each person that does it, and it takes a lot of my personal time.  That’s why it costs $297 per month to join, with a minimum 3 month commitment.

I got a few folks to sign up for this, which was great … and honestly that’s all I was looking to sign up, as I only have time to work with MAYBE 10 folks at any given time in this capacity …

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FYI … I also do Elite Business Coaching … if you are interested, check out the details and submit your application HERE

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Then, the next couple of days after I ran this, I ran a promo for my group coaching / membership site.  Members here get a new workout each month, and I coach them through it and give them any help they need via a private Facebook group … NOT as individualized, but still a great program you can get great results with … and the cost for this is $19.95 per month.

This sold very well … and I think it REALLY helped that I “positioned” the cost of the membership site as a great value, by first showing folks the Elite Coaching program at $297 per month.

I KNOW you can use this in YOUR business … try to think of a few ways, and put them into practice right away! 😉

2 – Multiple Streams of Income

I think it’s VERY important to have multiple streams of income in your business.

At our gym, we do everything we can to keep folks engaged, but the summers are always a slower time of year.

Knowing that, I can ramp up and really focus on the online side of things … the coaching programs mentioned above, putting together new home-study type courses and putting them up for sale, recommending other’s programs as an affiliate … and help to “pick up some of the slack” so to speak.

When ALL I did was one-on-one training to make money, things slowed down at the gym and we were in trouble!

So this is a good lesson as well … and there are SO many ways you can make money these days in fitness … you got to get YOUR multiple streams of income going ASAP!

There you have my weekly recap and a couple of take-aways to help you in your business.  Hope those helped, and have a strong week ahead –

– Forest Vance
FVTBiz.com

PS – My new “Top 21 Fitness Business Mistakes … and How to Avoid Them!” program is LIVE!

You’ll discover 21 of the biggest mistakes I made when I was starting in the fitness business over 10 years ago … and how I’d do it differently if I had to start all over again :)

Click the link below to check it out now:

=> How NOT to start a personal training business (top 21 fitness business mistakes – and how to avoid them)

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