Online Personal Trainer Workshop - The #1 Trap Of Unsuccessful Online Personal Trainers
- Hey guys! Chris Lynton here from TribeFit and today I wanted to take you through the number one secret that all beginner online fitness business builders do and what a successful online fitness business does in regards to someone who forgets this tip and then doesn't have the success that they want to and doesn't get up and running as fast as possible.
I speak to a lot of personal trainers, I speak to a lot of people building online fitness businesses, and the one key thing, the one key thing that people who are successful continually do time and time again is monetize their business--
- My name is Floyd! My name is Floyd! My name is Money! -
Monetize their business as early on as possible. And I'll make sure I explain what that means.
When you are building an online fitness business, like I said, I speak to many people on a day-to-day basis and there's some, in one bucket, who spend 6-12 months coming up with their idea, building their website, building their social media, building their products or programmes, and thinking about launching in six or 12 months time once it's all set up and all ready to go. And on the other hand you've got people who, what I call, do it in what I call a mind frame of a lean startup format, and what that is, it's about monetizing it as early on as possible. They have their idea, they have the concept, they put together something, they have what they need, but they quickly as possible validate their product and start making sales and monetizing their online fitness business as fast as possible.
The reason why you need to monetize your online fitness business as fast as possible, to be successful is that there is a number of reasons for it.
First and foremost, when you are building your online fitness business, if you are not making an income from it to start with, you have to have a side job. And as a result, if you do not monetize it fast, you will never be able to put the energy, the time into it, because it won't be giving you any return for the time and energy you're putting into it. It will always be a side project. It will always be what you have to do after you finish your side job.
If you have the energy, if you have the time, you may be exhausted, and as a result it gets put aside and doesn't get the focus and energy it actually needs.
Secondly, when you're building your business, you need to validate your idea, you need to validate your concept, and there's no better way to validate your concept than to actually start selling, to actually start getting customers, handing you their hard-earned cash for you to take them on as a client. As a result what you're doing is you're validating your idea, you're validating your niche, you're validating your product and your offering and your pricing. If you can get customers and clients coming through and buying your programmes, and them giving you their money to become customers, trying out your programme, and getting the feedback, what you are doing is you're getting a positive reinforcement of the work you're doing.
There's nothing more enjoyable than doing the work, putting the time and energy, but then seeing the reward coming back from that. And that can be financial reward, and then also it can obviously be the positive reinforcement, so your clients going through and saying, "Hey, I'm loving this. "This is fantastic!" It's what you really need to have in place and as a result, if you're monetizing it early on, you know if it's going to be successful, you know if your product, if your service, if your niche is actually going to work.
On the other hand, if you spend 6-12 months, you've got a concept, you've got a theory. If you never actually make a sale, you never actually monetize it, it is still a theory. And there might be little things that you will learn along the way as you are monetizing, as you are selling, and you can make those tweaks live and let your customers and your clients give you that feedback so you make sure you're always on the bull's eye. At the end of the day your goal is to create a product or a service that solves a problem. You are trying to create a solution to someone's problem, and a solution that someone is happy to pay for.
So once again, if you are validating it, if you are monetizing it as early on as possible, you'll be able to get feedback to say, "Hey, "people are happy to pay for this solution "that I'm trading," rather than spending -12 months with a theory and thinking, "I hope after all this work, all this time, "all this sweat equity that I've put into building it, "I hope that it actually sells." And unfortunately I see time and time again too many people spend that six months, spend a lot of money, spend a lot of time and energy building something, six months, 12 months, whatever it might be, and then they go towards the launch, and all of a sudden they hit crickets. They don't actually get sales, and for whatever reason some way through the process they have assumed that someone wanted a solution to this problem. They've made assumptions, they've had theories, but unfortunately they've never been out to test these theories, they've never been out to validate these theories.
And unfortunately, as a result, they've only been in their own head rather than getting feedback from their customers, feedback from their clients. It is not about you. The product and the service that you've built is not about you. It is not about what you want to build.
At the end of the day, you were just trying to solve people's problems and give solutions to people's problems. So there's no better way, as I say, to validate your business, no better way to get confirmation that you're on the right track than to start monetizing and start getting clients as early on as possible. Like I said as well, validation is the first point. The second point is, if you are making income, if you are making profit from your business all the way along, you can reinvest portions of that profit to continue to grow and to skyrocket and to amplify your growth. And as a result, on one hand, you've got a person who has validated, monetized their business as early on as possible, able to reinvest portions of that profit, and is getting that positive reinforcement back.
On the other hand, you've got another person that has limited funds, is not monetizing it at all, and unfortunately they will have slower growth than the person that is able to reinvest some of the profits that are coming back. Rather than just continually spending your own money, get clients, monetize your business, put back in a small portion of the profits, and you will skyrocket your growth. Whereas on the other hand you've got the person that's kind of stagnant because they only have a limited amount of time, a limited amount of energy, and they're not getting any income coming in from their business as well.
So, first and foremost, if you are new and you are looking to build an online fitness business, or you have been spending the last two, three, six, 12 months building your online fitness business, stop waiting. You need to put out your offer, you need to put out your product in the market, and you need to start testing, you need to start validating your concept. There's no better way than monetizing your business from early on and that is what happens for people who are successful. The ones that you see out there that grow really fast, really rapidly, they all monetize their business from as early on as possible.
So if you are not doing that yet and you've been spending time, spending energy, make sure you put an offering out this week, start monetizing business straight away and getting that validation, and you'll definitely be on the right track to growing fast, and, like I said, staying on that bull's eye and really getting the results that you're looking to get with your online fitness business.