5 Top Tips To Increase Your Confidence Around Charging The Right Price For PT
If you have ever felt awkward or uncomfortable about asking for money from your clients or about declaring your fees, then you’re not alone. But it’s essential that you develop your confidence around charging because if you have doubts or concerns in this area it is clearly going to create a significant block to building a successful PT business.
Here are 5 tips to shift your thinking so that you can feel very confident about charging and being rewarded for the valuable work you do.
Get Clear On Your Value
It doesn’t matter how long you’ve been qualified or how much experience you have as a PT, you still have the ability to provide value for your clients. It is very easy to forget how valuable the knowledge and expertise you have is for your clients simply because you are so familiar with what you know. Just because you know it doesn’t mean your clients do.
Action: Write a list of all your assets – assets include the knowledge, skills, experience and qualities you have to offer your clients. But don’t stop there. The mistake that many trainers make is to focus on what they know rather than thinking about how this is beneficial to their particular clients. Your knowledge and skills are only valuable when they are applied and used to achieve something. So I want you to look at your list of assets and next to each one write down the benefit to your client so that you are clear on exactly how all of your assets are valuable to your clients.
Remember That You Need To Earn A Good Living
If you find yourself saying “I love what I do – I’m not in it for the money” or “The money isn’t important” then I want you to think again. Unless you are in a position where PT isn’t your main income or where personal training is just a hobby, then the money has to be important somewhere along the line. Personal trainers sometimes say this because they don’t believe that they can make much money in this profession but you still have to be able to earn enough from PT to live comfortably or else you’ll be forced to quit.
Who ever said that doing something you love has to mean sacrificing an inspiring income? There are personal trainers out there who really are earning a very good living out of PT so it is possible.
Ultimately I find that people who undervalue the money haven’t given enough thought to what making lots of money would enable them to do. The opportunities it would open up for you, the numbers of people you could help, the charities you might support or the difference you could make in the world if you were able to make more than enough money. Being motivated to make money isn’t a bad thing. It’s entirely necessary.
Action: Get inspired and make a list of the benefits to you of earning a great income from what you do.
Do It For Your Clients
If you aren’t charging your clients or if you are charging too little you are doing your clients a disservice.
It’s a well established fact that people don’t value services that are free as much as they do when they pay for them. Nor do they value a service that is too cheap. As a rule, the higher the price the greater the perceived value to the client. More importantly, people will put more effort, energy and focus into something they’ve invested in and there’s a direct relationship between price, effort and ultimately results. If it’s free or very cheap, then it’s very easy for your clients to cancel and quit. Your clients aren’t likely to get the best results for themselves from training unless they choose to invest in this service. Clients will get the greatest results when they are paying for your service and paying the right price.
People actually don’t like receiving something for nothing, especially if it’s something really beneficial for them like your personal training services. They will feel out of balance with you, like they owe you and this doesn’t feel comfortable. If this unequal relationship continues, and they can’t find a way to redress the balance, they are likely to stop working with you.
Action: List the benefits to your clients if you charge the right price for PT
Raise Your Prices, Raise Your Game
Here’s the thing when it comes to setting a price – It’s not what it makes for you. It’s what it makes of you.
By not charging or by charging a low price for your services, you are possibly setting your expectations of yourself very low and giving yourself permission to not be that great as a PT. Ask any PT about the difference it makes when they start charging and charging the right price and they will talk about raising their game as one of the results. If you aren’t charging it’s likely that you’re not giving your best and that your clients aren’t getting the best from you or from personal training.
Action: Instead, think about the price you would like to charge and then think about what you will do differently when clients are paying that rate for working with you. What price would bring out the best in you and challenge you to go beyond what’s comfortable and push yourself to achieve new levels of PT brilliance.
It’s All In Your Head
The reality is that most of the worries and concerns that you have about charging, about asking for money and about prices are in your head. They are all about you and have little, if anything, to do with your clients.
Your beliefs about money, about greed, about rich people or about prices and what’s expensive and cheap – all of your beliefs about these things will determine how you feel about charging for your services – it will determine your whole attitude towards the financial side of your business.
Action: Identify and tackle your own beliefs or ideas about money, charging, the value of PT, being rich, rich people, greed and so on. Highlight any beliefs you have that you can see might be affecting the way you approach pricing and charging in your own business. When you’ve identified them look at how accurate these beliefs are in reality and if necessary replace them with a new belief that supports and builds your confidence with charging.
This is just the beginning when it comes to the money side of your PT business. There are many more things you can do to grow your confidence and ability to charge and get paid the very best price for the services you have to offer but that’s another story.
Yvette Nevrkla is the founder of The PT Business Gym which helps personal trainers to build successful and profitable businesses.