Today I wanted to talk about a value pyramid. You don’t know what that is? Well, let me explain.
To start off I wanted to ask a question. And I ask this question a lot. That question is, what type of trainer are you?
Now most trainers answer this question with either ‘I’m an online trainer’ or ‘I work in a gym’ or ‘I’m a freelance trainer.’
Now, what I am going to ask is, why just one?
Why can’t you be an online trainer and an in person trainer?
You see, each of these have unique opportunities for you to grow your business. And you can build each of these into a what’s called a value pyramid.
The value pyramid is a concept that comes from Russel Brunson’s value ladder. Modified by Adam Schaeuble into a pyramid concept.
But it goes like this…
Instead of having a single offer…which most personal trainers have, like 1-2-1 coaching in a gym, online classes or traditional online PT, you can offer all of them.
The ladder, or now pyramid, has different levels, where the lowest cost service is at the bottom, and then your signature or most high cost service is at the top.
What that means is that at the bottom, with the widest base you have a service that is lower in cost, has the most clients and is also the lowest in engagement.
Think of an online goal based program that people buy and work on themselves. It can be a simple PDF that takes people through a 3 month program for a certain goal that is linked to your ideal client.
Higher up the pyramid is maybe online group classes. This is one to many training where the cost is a little bit higher than the first level, engagement is also a little higher, but there are few clients.
Next level might be your online pt. It’s a smaller level as you work towards the top of the pyramid, meaning that the price is higher than then one before, there is more engagement, but again, fewer clients buy this from you.
At the top might be your 1-2-1 in person personal training sessions.
Here there are only a select few people that you train and you charge the highest amount. It is the highest level of service and engagement you give for the people that sign up to be a client.
Now what this means is that you have multiple streams of income.
Some are very flexible and online and some more structured and in person.
Some are more involved, and others you need to do very little work once the initial set up has been done.
This helps you in 3 main ways.
First, it helps you to bulletproof your business. So, just for example, a worldwide pandemic comes along, and all in person sessions have to stop for a couple of months, you don’t need to worry as much because you have a lot happening online that can continue.
Your income is more protected as you can now rely on these alternative services and streams of income that you have built.
Secondly, it will allow you to scale your business far beyond what you can do with just in person PT. You can reach more people since the location of your market isn’t a limiting factor anymore and you are also charging less. You can reach far more people!
Finally, as you can reach a lot more people at the bottom of your pyramid, you are able to use this entry level service to start feeding the higher levels.
There is a low cost, low risk option at the beginning which allows people to get to know you, like you and trust you.
The aim is to slowly move clients up the pyramid where you can help them a little bit more, while charging more and therefore earning more.
Not only will you reach more people, but each person will, on average, spend more to get more help. That’s a great situation to be in to create an epic personal training business.
Now, maybe I make all this sound easy. I mean it is pretty simple, the framework and structure of it all. But it isn’t easy to get everything set up and running.
It is best that you start off with one level. Then add another level in time. And then again if you want.
Your pyramid can be just 2 levels tall if that’s what suits you, or it could be 4 or 5.
The different level can include all sorts of things like an ebook, a downloadable program, virtual coaching, traditional online coaching, group classes, in personal 1-2- or small group training or in person group sessions.
You might have workshops or challenges or even a membership site like the Epic Pro community.
To place them, think of the level of service you would need to give, the amount of engagement you would need to run it, the price you would charge and how it fits and relates to the services or products you already offer.
Then you can place it on a level of your pyramid that makes the most sense.
Like I said…simple, but not easy!
So, there is a simple worksheet I have created to help you go through this process and you can download it for free by going to www.epicpersonaltrainer.com/pyramid.
That’s it again from me today…I hope this session has maybe opened your eyes to a wider possible future for your personal training business. One that isn’t restricted to just one way of doing things,, but you can now see one that might help you build your little empire in the world and have an epic personal training business.
Thank you so much for tuning in. I really appreciate it and I really appreciate you!
See you in the next session.
Download the worksheet