Stop Being Cheap

Consider the value of your time and invest in things that make you money and provide you value.

Stop Being Cheap

As coaches become skilled and gain more professional success, it’s easy to have an outdated perception of how valuable their time is. In an attempt to save money, many coaches continue handling every domestic chore and menial task in their business personally.

While this may seem like a responsible approach to budgeting, it is actually limiting their earning potential and detracting focus from developing their professional skills and business further.

It’s not that these tasks are “beneath” them. It’s simply not the most efficient use of their time.

If we look at a coaching practice as a business, there are some tasks that only a skilled coach can perform: things like technique feedback, programming, and accountability. These are the services that clients pay a premium for. It stands to reason that the coach should do these things as much as possible, to make the most money.

But what about cleaning a gym? Is this an efficient use of a coach’s time? Furthermore, should a coach stop working for several hours to go grocery shopping, do laundry, clean their house, or mow their lawn?

How much is a person’s time worth? Let’s say a coach makes $100 per hour while working. It makes sense to pay $30 extra for a grocery delivery service that saves them two hours of time. If a coach has children, domestic chores like laundry and house cleaning can be completed at a low rate, while encouraging good work habits—in place of an unearned allowance. If a task can be hired out at a significantly lower rate, a business person should take the time to evaluate how worthwhile it is to continue performing it themselves.

Of course, this is only advantageous if the coach is actually working during this freed-up time. Spending money on services that do not translate into more revenue is a bad idea.

A coach should also look at professional services the same way. If the best online coaching software can maximize efficiency and allow a coach to double or triple their earnings, does it make sense to bargain shop to save a few dollars?

A person who has dedicated the time and money necessary to develop world-class skills should leverage their abilities. This means delegating menial tasks to others when possible, and not being afraid to spend money that can allow them to maximize their earning potential.

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