You may be looking for ways to hit those goals you set out to accomplish at the New Year now that the second quarter has started. One of them may be increasing your income potential, but how do you do that? How will you stand out from the crowd and prove your new worth?
You need to become individualized in your industry! You need to have something that sets you apart from the rest! But typically there is a cost that comes with becoming more specialized and that can be daunting...
Let's use adding Muscle Activation Techniques® to your tool box as an example and let's say you are a personal trainer making $50 an hour. How long would it take you to make back (break even) what you spent on taking let's say the online lower body module?
First, start with the cost of the program, $3,195. Include your travel costs to Denver for the lab practical, we'll round up and say $500. And we'll need to put other expenses in there to account for food and what not, add on another $150. So at this point our expense total is $3,845.
Ok so now for the exciting part. So you are hoping to increase your hourly rate by at least $20 an hour with your new skill, so you would be sitting at $70 an hour. With this new rate, assuming you are working 40 hours a week or 40 sessions at your new rate - it will take you 4.81 weeks to make back what you invested...THAT IS ONLY ONE MONTH!! Now let's say you are working 30 hours a week or 30 sessions at your new rate - it will only take you 6.41 weeks to make back what you invested...that is 44 days or ONE AND A HALF MONTHS! Ok ok ok calm down. Last scenario, let's say you are working 20 hours a week or 20 sessions at your new rate - that would take you 9.61 weeks to break even...again that is only 2 MONTHS!
Now that we have broken down what it would take to break even on your investment let's discuss what your ROI would be after year 1 and year 3!
Starting with year 1...remember the expense summary from above shows us that the total estimated expenses for the MAT® Online Lower Body Module is $3,845. With that in mind and the increase in your hourly wage of $20, the net increase in wages year one assuming 40 sessions per week for one year would come out to be $37,755! That is one heck of a return!
But what if you can only get 30 sessions in per week for one year? Don't panic I've calculated that for you real quick - that would come out to be $27,355! WHAT hello.
Wait OK last scenario...even if you can only fit 20 sessions in per week for one year you would be making a return of $16,955!
Do you want to know your year 3 numbers? I do!
Net increase in wages year one assuming 40 sessions per week for three years: $113,265!
Net increase in wages year one assuming 30 sessions per week for three years: $82,065!
Net increase in wages year one assuming 20 sessions per week for three years: $50,865!
Now obviously these numbers might not be exact to your goals so here is our calculator for you to experiment with numbers that make sense for you!