One of the most important assets you have in the fitness business is time. The money will always come and go. I know I’ve gone through times where money was tight. You can lose money and gain it back, but time can’t be regained. That’s why it’s important as a personal trainer to realize your time is worth something more than money. Let’s start by talking about cold, hard cash and then I can help you appreciate how the investment of your time can pay off in the long run for your fitness business.
Let’s Talk Numbers
Of course, it is important to have an idea of what your time is worth in a dollar figure, but assigning a value to your time isn’t always easy. However, there is a way to break it down to help you visualize what I’m talking about. First, determine the amount of time you spend earning money. How much time do you invest in order to make money? This isn’t just the time you work but the work that goes into the time between client sessions. Do you have to travel? How much research do you need to do? How much time do you spend on writing a program for the client or calling or emailing them? There’s a lot that goes into client success beyond just the time you spend face to face.
Next, think about the amount of money you make in the time you’ve invested. Over the course of the month, how much do you bring in compared to how many hours you’ve invested both in and out of the gym?
Now that you’ve got those numbers in mind, you can divide how much you make per month on average with the hours you’ve worked. The result is literally the amount of money your time is worth. You can use that figure to determine if something is worth your time or not, so it’s a great place to start when trying to gauge the value of your time.
It’s Not All About Cash
Remember when I said that you can always earn more money? Well, I say that because through the years I’ve learned, especially when starting out, that the value of your time isn’t merely about what you’re getting paid. Sometimes you don’t have money but you do have time and you can use that time wisely to grow your fitness business. I give several great examples of how to use your time to drive your business forward in my book, Your Fitness Career.
Remember, you’re not a gym. You may not have money always available to you but you do have time, time you can use to trade for products or services to help your business grow. Yes, I’m talking about bartering! Way before money existed people bartered their services. Perhaps you could barter some of your personal training services for help constructing a website or setting up social media. Whatever you need to help get your business off the ground can always be bartered for with your personal training skills, knowledge, and expertise. Plus, the people you’re bartering with have the potential to become future clients that actually pay you and they have friends they’ll refer if they’re happy with the results.
You want to see your fitness business grow and make money doing what you’re passionate about, but remember that success doesn’t all come at once. Along the way, you may have to find creative ways to invest your time in your business as you discover your true value!
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