Undercharging .... and or not charging at all because you are uncomfortable with the "money conversation" with coaching clients is the fastest way to either burn out or feel really frustrated with your coaching business.
You are coaching because you have an amazing transformation to share with your clients. It's right that you are rewarded financially for that.
To create a pricing strategy that reflects the value of your service, your mindset is going to be your first best asset! You are absolutely worth charging the value of your service!
Oh and I just want to say, the results your clients get from working with you are most likely priceless when you think about how the transformation affects their:
No matter what you are coaching on, creating a breakthrough will always have a positive impact on all of these areas in their life. How is that not priceless ..... to have better health, more wealth and fulfilling relationships?
Because you are reading this, I know you are defiantly ready to charge the value of your service so that your pricing reflects the transformation you offer. It creates your own financial freedom, time to take care of your health and focus on your relationships.
Let's create your pricing strategy to get you to high-ticket pricing
To create confidence I would encourage you to reach your ideal pricing by 'incremental pricing'.
I LOVE this way of getting to your pricing goal. So here's how to do it:
Let's say for example your 6 month coaching package pricing goal is $5,000 (or whatever is a stretch for you, so that it is exciting for you to reach and also a figure that will make a difference to your coaching).
- Your first/second clients are offered your coaching package for $2000
- Your third and fourth clients are offered your coaching package for $3500
- Your with client you offer your coaching package for YOUR GOAL $5000!
It's okay that you don't feel ready to charge your goal pricing right away. By following the steps above you enter your stretch zone ..... without freaking out because:
You will have more confidence in what you do with each client
You will have more of an idea what your ideal client needs
You will have made some tweaks to your service that makes it even more valuable
You will be on FIRE when you see your clients result so it's no issue to charge more
You can absolutely charge the price you want to charge ..... to get there with ease though, do it incrementally and build your confidence as you go.
Your pricing is not a direct reflection of who you are! It's a reflection of the transformation you are offering through your coaching.
What you DO want to note about your pricing is that you become the coach who is delivering a high-ticket coaching programme. Step intoning that kind of coach.....show up as that high ticket coach online, to your discovery calls....anywhere you talk about your coaching.
You become the coach who values transformational for you and your client at the highest level! When clients commit at higher level they show up, value you and dont take you for granted in turn they create success for themselves and you love working together.
The next part of the strategy: How your clients will invest
(1) Full Pay - Offer your clients to pay the full investment for your coaching programme. This allows your client to get committed to their transformation right away and a great cash injection for you.
(2) Payment plan - This is a lovely way for clients to say YES to your coaching, still getting the same transformation but in a way that suits them financially . It creates recurring monthly income for you
(TIP) Your payment plan is the full price of your programme split into 2 or 3 payments. When you offer a full pay, you could make an offer with a percentage off the full price.
YOU ARE READY!
So it's time to make the decision about your pricing. Set that ultimate goal and go about stepping up to it incrementally and you will smash it! Then the following year you can keep doing the same thing so that the investment your clients pay for your coaching is reflective of your experience.
I would love to hear what your biggest takeaway was from reading this. Please hit the CONTACT page and let me know.
Book yourself in for a Money Mindset Makeover so that you can show up with complete confidence to charge the worth of your service.
Give your clients the gift of investing in themselves at the highest level. - BOOK IN HERE