How to Build Value and Increase Your Value Proposition
What is Value Proposition?
A value proposition is a statement which identifies clear, measurable and demonstrable benefits consumers get when buying a particular product or service. It should convince consumers that this product or service is better than others on the market. This proposition can lead to a competitive advantage when consumers pick that particular product or service over other competitors because they perceive greater value. (wikipedia)
Value = Time +/- Money
As you can see from this table, one’s perceived value is determined by the combination of Time and Money. Since the value of currency isn’t something that we have control of, what we should steer our focus on is the factor of time.
We should understand that although we cannot create more time in a day, what we can control is the quality of what transpires during these 24 hours. If we can accomplish every task we set out to do each day, I am confident we would feel that it was a very productive and valuable day. On the flip side, if we were unable to effectively manage our time and did not accomplish a single task, we would feel like this day was a failure or had little value.
As a personal trainer (and for any service based profession), we spend on average 45 minutes to 60 minutes with each client we train and service. Everything else remaining the same, the easiest way to increase your Value Proposition is to spend more time on your client for the same price. The key word here is “on” your client and not with your client. Yes you can spend more time with your client as well, but this isn’t the best solution because you have a limited amount of hours to work. If you increased your time spent with each person, you would limit the amount of clients you can take on each day. Although this is an easy solution, it isn’t a viable long term one if you want to succeed.
From my experience, the best long term solution is to increase the quality of the time you spend with your client. Here are some ways you can increase the quality of the time spent:
- If the client asked a question in the past, spend time researching (on your own time) to find the answer and share it with them.
- Keep your client’s goal on your mind at all times and create goal focused routines. Share with them how each exercise will help them achieve their goals.
- Invest in expanding your tool belt and use these tools to incorporate a variety of exercises/modalities into their routine.
Reinvest in Yourself
Too many times, I see trainers doing the same routines with all their clients over the span of years. A client of mine said it best when he told me, “if you are not progressing each year, you are regressing because the world around you keeps moving forward.” If you haven’t reinvested in your craft by increasing your knowledge base on techniques, approaches and tools each year, you will soon be antiquated.
How do you do this?
Plant Some Seeds
You’ve heard the saying, “It takes money to make money”? This scenario is no exception to that and one should look to invest their money into something that will create more value. The seeds I am speaking of are education and knowledge. Don’t spend all your money on fancy pieces of equipment, rather spend it on learning the skills to wield and use them. If you understand the concepts and principles, you can apply these same approaches across many other platforms and most likely even modify it to work with other pieces of equipment. When you have these skills, you can apply them to your sessions with your clients and increase your value proposition in their eyes.
Don’t invest in the equipment until you can afford it. Clients don’t come to you for the equipment; if they did, they would base their decisions solely on which gym has the best selection of equipment and not care about your training skills at all.
Here are some actionable steps:
- Look for certifications that will differentiate you from the rest of the pack.
- Look for workshops that could offer you more information to better assist your clients.
- Never think you know enough. Even if you only learn 10% of new material in a workshop, that’s 10% more than yesterday.
- Apply what you have learned into your programming. Clients don’t care how many certifications or workshops you attended if they don’t see it in their programs.
Implement to Succeed
Your success is linked to your clients success so they want you to succeed. They are rooting for you and want to see you flourish and find happiness. They want to see you become an expert in your field and are willing to support you along the way. Take the information you have learned, apply it to your clients, create success for them and in return create success for yourself. Once you have a proven track record of consistent success year after year, it will be difficult to argue that you don’t deserve a raise. Results speak for themselves and those who can conjure results at will, can dictate their own worth. Bam! You’ve increased your Value Proposition.