Have you experienced the “oh geez” feeling after being told by a potential client that your rates are too low? It happened to me a couple of weeks ago. I pride myself on pricing my services based on my confidence in my value, and I coach my career clients to do the same. Imagine my surprise when I quoted a corporate virtual Chair Yoga at $500 and my client replied, “wow, that’s cheap!”.
My first reaction after getting off the phone was happy that I landed the gig, then “wait…what??. After some reflection, I came to three realizations I’m happy to share.
We significantly undervalue our expertise
I quoted a wellness workshop on managing stress and anxiety for that same client at $1200, but because teaching Yoga is something I see as “easy-peasy” I asked for $500. No wonder she found it cheap in comparison to the workshop. My lesson: just because it’s less effortful for me to prepare and perform in an in-person or virtual fitness class doesn’t mean it’s worth less; to the contrary, it means I can provide a service with expertise that’s hard to come by.
ASK YOURSELF: Are your rates fairly based on the market and your capabilities and ability to communicate your value confidently?
We need to also work outside of gyms and studios
I do and will continue to provide classes and coaching, and training to gyms and studios… AND I’ll also develop my business outside of the traditional fitness industry. As qualified fitness professionals, we have opportunities in many other sectors, including corporate wellness, health care, travel, and health resorts, high-performance centers, and more. In some instances, the revenue for our services can be 10X what we make in gyms and studios.
ASK YOURSELF: Are you curious about and seeking out new ways and places to deliver your phenomenal expertise to build revenue that leads to a sustainable career?
We need to position ourselves in the wellness sphere
Work is available to make fit people fitter, but engaging with the $4.4 trillion dollar wellness market is the key to our longevity. Positioning our services beyond calorie burning and weight loss means turning our attention to performance within the scope of lifespan and healthspan, physical and mental health, and or moving for a better life.
ASK YOURSELF: are you learning about how movement stimulates and supports physical and social, mental, and cognitive health? Are you inquiring about the changing needs and goals of your clients, along with keeping an eye on trends related to health and wellness?
Story update
The public health unit that hired me to teach that class has staff that are deaf; it was my first Zoom experience teaching side-by-side with an ASL interpreter. It was a phenomenal experience, and I’m so proud to have been able to share a mindful and accessible movement with a whole new group of incredible people!
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