Do you shudder when it comes time to pricing your services or put an offer together? And do you struggle with charging more for your services because you secretly doubt people would actually pay YOU that much?
Well the good news is, you’re not alone! Every day I coach and mentor entrepreneurs who struggle with “how to value” their work and put a price tag on it. I get it, it’s a STICKY topic. I struggled for years with this, under valuing my worth as a mentor and undercharging clients to get them into my programs.
It’s a VERY common problem coaches struggle with when first starting out. Here are the most common misconceptions & mistakes coaches and service professionals make when trying to price their services:
#1 If I charge less I will get more clients
If you compete on price, not only will you be seen as the WALMART coach, but you’ll be stuck working with clients who AREN’T as committed and who aren’t as ready to do the work to get results. Save the deals and special offers for e-books and low-end information products that don’t eat up your time. Make your coaching services, the highest price since it is the closest access to you and your expertise. After all it might sound cliché, but you DO get what you pay for… and people still think that way even about purchasing coaching.
#2 Charging for the hour
You’ve got to make the shift from charging by the hour to charging for RESULTS. When you charge for results people will pay you just about anything. Imagine you were infertile and a practitioner told you he or she could guarantee that if you followed her method, technique system she could reverse the symptoms and you could conceive a child.
How much would you pay for that experience of being a mother? $1000, $5000, $10,000, even $100,000 how do you put a price tag on that?! Sell your results and deliver the method.
#3 Not defining your niche & Working with just about ANYONE
Of all the heinous pricing blunders coaches make, not defining a Niche and taking on just about ANY client, just for the sake of having clients is by far the most disastrous for 2 reasons.
#1 Mostly there is a fear that if “I get too targeted I will lose out and cut out too many people therefore I won’t have enough clients to chose from.”
Actually the opposite is true – the more defined you get on languaging your ideal clients problems and solutions you offer the easier it is for those specific people to FIND you and happily pay you to help them solve their problems. When you’re marketing is too vague and far reaching it gets watered down and it doesn’t connect to your prospects.
And #2 if you don’t own your value and DECIDE to only work with people you LOVE with amazing fabulous clients, and take on just anyone you’re confidence will take a major hit because – those “not a great match” clients will get luke warm results and you’ll eventually begin questioning yourself.
Listen into this audio case study I created for my “Sky Rocket Your Confidence & Cash Flow Program” where I go over a simple exercise to help you own your value & charge what you’re worth.
When you own your value and charge what you’re worth a whole new world opens up for both you and your clients. You make more money and your clients get better results.
To Your Love, Expansion & Freedom