The Three Mindsets You Need To Make Money In The Fitness Industry
If you’re struggling to increase your coaching rates or gym membership prices, there is a high probability you have unresolved fear and guilt and inside that head of yours. Fear of rejection and feeling unworthy of success are huge barriers to growing your fitness business.
Many of us have been brought up with the mindset of money doesn’t grow in trees or money is a bad thing. This couldn’t be further from the truth. As I say to all my Board Room clients and the guys in Authority Network, your own worst enemy lies in between your own two ears. Let me explain why money is important and why you need to change your beliefs about it…
#1 YOU NEED TO BE A BALANCE OF A NARCISSIST AND AN ALTRUIST TO MAKE MONEY
If you’re too altruistic and too giving (i.e., you undercharge and you give too much for what you get in return), you will burn out and have low levels of self-worth. That’s largely a result of you worrying about what other people are going to think when you increase your price, fear of rejection, and ultimately it doesn’t do you any good.
On the other side, if you’re too narcissistic and you’re just about money, money, money…people will see through that and dislike you.
Narcissism is requesting money to allow you to deliver the service and altruism is you providing the service in fair exchange for what the clients are willing to pay. This is a very important aspect to realize.
#2 YOU NEED TO HAVE A VALUE WEALTH BUILDING
If you’re not focused on building wealth, then you’re going to jeopardize your service to the world. You can only serve your best when you operate from a surplus.
What do I mean by a surplus?
A surplus of time, energy and finances.
You’re more emotionally stable when your bank balance is positive, compared to being in debt. Good finances guarantees security, time, freedom, energy, food, and health. It also gives you the cash to invest in yourself and advance your career through credible business mentoring and online coaching programs. You can’t solve problems if you don’t have the knowledge or skills to do so. Think of mentoring like a collection of the thoughts, mistakes, and experiences of people in their field that have really achieved great things. Rest assure, having a good mentor is one of the quickest ways to help more people and build your wealth. The best coaches in the world all have mentors, including me.
#3 PAY TO PLAY
When it comes to getting in front of the right people you have to pay to play. Paid advertising is 100x more effective than positing organically (unless you’re super famous). If you don’t have the money to advertise you run the risk of being invisible and can’t grow your brand.
If you’re too altruistic, give out too much and feel awkward asking for money, you’re going to burn out, and won’t be able to make the impact you want.
Many of us have been brought up with the mindset of money doesn’t grow in trees or money is a bad thing. No, it is not.
If you are serious about making a difference you need to value your wealth. You will make a far bigger impact when you have cash behind you.
P.S. If you’re addicted to growing your fitness business…there are 4 ways I can help you succeed:
- Watch my Free Fitness Business Masterclass webinar
This action packed webinar that will teach you how to attract dream clients, make more money and overcome self-doubt. Watch it here.
- Join the Super Strong Business Accelerator Program
If you currently earn under 10k per/month and feel a little lost with your business – click here.
- Join my 12-month Mastermind Authority Network and connect with other Fitness Entrepreneurs looking to grow their business.
If you feel like you’re in relatively good control of your fitness business, but know you could be working smarter (not harder) and want to upgrade your peer group – click here.
- Work with me Privately.
Every year I take on a select group of 6 figure entrepreneurs and help them scale beyond 6 figures. Extremely limited. If that’s you – click here.