It's selling your time for money, aka lessons.
Spencer covers the ins and outs of how to separate the two and grow your business while avoiding burn-out.
For more info on CoachNow and the ConnectedCoach Academy head over to https://coachnow.io/education
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FULL TRANSCRIPT:
Hey everyone. Spencer here, founder of coach now, and former burnt out coach. Welcome to the connected coach academy podcast. Today's episode is called sell your expertise, not your time. Let's get to it.
nearly every day. I have conversations with coaches about their business, and unfortunately, so many of them are struggling, all struggling for the same reason. All following outdated business models, all doing the same thing, just because that's how it's been done all selling their time for money. Time is the greatest asset any of us has.
And it's a limited asset at that. So why are so many coaches still in the trap of selling it? The trap of selling lessons? From my experience of analyzing thousands of coaching businesses over the last 10 years, it boils down to one thing, mindset. you see, mindset is where every successful person starts.
And unfortunately, most coaches are stuck in the mindset of a coach versus an entrepreneur. I'll be doing a whole other episode on that specifically, but today I wanted to seed the idea of selling your expertise with that awareness. The most successful businesses don't rely on selling time. They sell products that can be sold 24.
I've been shouting from the rooftop for years. And those that have taken hold of this concept have had massive success. Even when COVID first came on the scene, they were ready, but those stuck in the time for money model weren't. And because of that, they lost their income almost overnight, even in a pre and post COVID world, that model is broken.
It doesn't serve you, your athletes or your business. So let's get really clear on. Lessons, whether you are aware of it or not imply a quick fix athletes are sold an hour lesson. So they think they're gonna get better in that one hour. We all know that's not true. So why are we structuring our models this way?
Always chasing the next lesson, selling the next lesson pack and fulfilling lessons on the packs that are already sold. Let me throw a pretty sobering stat at you. Coaches that exclusively sell lessons on average. Are working 40 plus hours per week and only making 32 to 60 K per year. These are the coaches that are burning out and will always do so unless they shift their model.
So let's talk about how to do that. Let's talk about selling your expertise because it doesn't matter how much technical knowledge you have or how many certifications you have if you can't package that up and sell it 24 7. So what does selling your expertise? Look. That means flipping the value you think you deliver to your athletes, to be clear, you have to stop thinking of time allotments as the product you sell results, you sell improvement and you sell the necessary expertise to get someone there in a practical sense.
This means focusing on selling long-term development, setting, realistic expectations, and giving your athletes a clear path to reach their goals. This also means staying in touch between in person session. So that they can stay on track, whether you're with them in the room or not, but doing so doesn't have to cost you extra time.
If you do it in a leveraged manner and set clear guidelines for the athlete. Let me explain while I can't go into every tactic in this mini episode, I did want to at least touch on one. What I call micro touch points by using the right tech. Obviously I'm gonna advocate use coach. Now you can deliver value in highly leveraged and in some cases automated.
You can keep your athletes on the right track between live sessions, with micro points of feedback. It might only take you two minutes, but it can provide incredible calibrating value to the athlete. You can do this simply by commenting on a technical video that they post or by sending them a drill you've captured weeks ago, you can leverage a growing library of past videos.
Perfect. For any situation that your athlete might find themselves in. As a coach, we constantly see different athletes make the same mistakes. You can save yourself a ton of time by having these videos ready to go. Whenever common issues arise within coach. Now, you also have the power to send messages in bulk to specific lists of athletes.
A simple, Hey thought of you. When I saw this attached to a drill, you found on Instagram can now be shared to hundreds of athletes at the push of a button. Sometimes sharing your expertise comes in the form of simply curating and sharing. Great. It only takes a minute to deliver that value and engagement.
And that's a theme of everything I encourage at the connected coach academy. Essentially, what I want you to ask yourself is what can I do to massively leverage my value? Massively increase my impact all while saving time. if you've been following me for a while, I've been preaching the concept of connected coaching in the end.
Connected coaching is all about using the right tools, techniques, and automation to deliver a more impactful coaching experience in the digital age, when done correctly, becoming a connected coach will serve as win for your business, your personal life and the success of your athletes. Step one, to becoming a connected coach is to stop selling time for.
AKA stops selling lessons on that note, I'll close out today's episode with a warning coaches who sell their time for money will become obsolete. If you only take one thing away from this episode, let that be it learn from this last year face. The fact that COVID change the game for good, and you will always be at risk if your entire business depends on a linear equation of selling your time for.
With all that said, I hope you've enjoyed this mini episode, but we're working on some really great things in the background that I'm excited to share with you soon. But for now I hope you enjoy these mini rants that we're gonna be posting weekly.
Hope you have a great day talk soon.