By Daniel Griggs, founder of ATX The Brand, a tech agency focused on solving problems, building businesses and strengthening communities.
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If you are in the fitness or sports training industry, I have one question for you: Are you still trading your time for money?
For many of us, this is the only way we know how to make income — exchanging our time and labor for a paycheck. It’s likely what we were taught in school and by our parents. But digital technology offers us another way, and certain industries are poised to profit in a huge way, including the sports training industry.
The sports coaching market is expected to grow by $9 billion over the next four years. Yet many trainers feel stuck in a business rut, unable to progress in their career, and are getting burned out on working with clients one-on-one. Fortunately, sports trainers are sitting on an enormous asset they can leverage to build passive income and profit exponentially. This asset can be found inside their own heads: their knowledge.
We are living in the era of digital transformation. A time when businesses of all types are using digital technology to improve their processes and scale massively in a short amount of time. It is easier than ever for entrepreneurs and “solopreneurs” to monetize their knowledge and dramatically expand their reach. All it takes is the ability to create an online brand and utilize digital platforms to share useful content.
Sports trainers have a unique advantage in the digital space. “Fitspo” accounts have taken over social media as users tune into online platforms to learn how to eat better, train better and get healthier. Professional and amateur athletes are taking advantage of these platforms as well. The American College of Sports Medicine named online training as the top trend for 2021.
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As a sports trainer, you don’t have the time to train everyone in person, but you can reach thousands or even millions of clients online by turning your knowledge into a web-based program. Instead of being compensated directly for your time, you can multiply the value of your energy and effort ten times over. The best part is that the barrier of entry is small compared to other business investments. Digital entrepreneurs can start small and scale their processes over time.
Here are some of the best practices for sports and fitness content creators:
• Create content tiers. It is important to match your digital content to your audience. If you’re looking to monetize your knowledge for an online audience, you will need to identify audience segments and create tiers of content that apply to each one. For example, a college athlete needs a different approach than a mother of four young children.
• Progress your audience over time. In the sports training world, people like to see results. One of the advantages of a digital platform is the ability to showcase and adapt to your audiences’ growth. Incorporating various levels of training and utilizing online self-assessments or even live video assessments are ways to create measurable results.
• Use existing platforms. There is no need to reinvent the wheel when it comes to creating and sharing online content. Platforms like Teachable, Podia and Thinkific are valuable tools for content creators and educators. You can even leverage social media platforms such as Instagram or TikTok to provide value for your audience and engage them in your marketing funnel.
The first and most important step in monetizing your knowledge for a larger audience is changing your mindset. To be successful in the digital space, build passive income and scale your business, you need to think like an entrepreneur and a leader. Taking control of your schedule and finances can be easy, and even fun, with the right perspective and the right tools.
