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I have a fitness and nutrition coaching business. It's just petite women 5'4 and under. It's called Itty Bitty.
No, that's awesome. I'm just wondering if I'm capping my potential by having structuring it as a coaching business. I just get this feeling that coaching businesses are super capped.
It's not that coaching businesses are capped. It's that businesses that turn out customers every 6 months can't grow. The issue with the information education space is that they have one-time stuff and they try and bill like it's consumable. So, if I say I'm going to teach you math, then why am I going to keep paying you for the same arithmetic after I graduate fifth grade? There's zero value in a course that teaches you something you already know. This is the problem.
What you have to do is think, okay, there's some level of education that I have that's incredibly valuable, but I'm only going to bill one time for that because that's how the value is going to be delivered. These other things, community workouts, accountabilities, so you have these other components that are consumable. The thing is is that this often is priced very differently than this. And it's blending the two where people get in trouble.
They basically say, "This together is worth $30,000." And so I'm going to bill you monthly for $2,500 a month. Now, the first month, people are stoked because it was super valuable for that first thing. But month two, now they feel guilty for canceling because they got a lot of value. Month three, they're like, "Okay, well, you know, this isn't worth $2,500 even though the first purchase was." And so it's just better matching the pricing to what the value they're getting when they're getting it.