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