Are you earning what you want to be earning as a coach, consultant, mentor or trainer? Is financial freedom your reality or a pipe dream? Are you comfortable with your current pricing or do you know in your heart that you are worth much more?
Whether you like it or not, the price of your products and services says a lot about you and the degree to which you value yourself and your skills as an expert in the industry.
I learnt very early on in business that sometimes it’s the person who drives the brand new luxury car who says they can’t ‘afford’ you, while the person driving the beat up vehicle would sell it in a heartbeat, just to work with you! So, setting your prices based on what you think people will pay, just doesn’t work.
At the end of the day, we are problem solvers and often the problems we solve are priceless. As one of my former clients’ kindly said, “Where do you even begin to thank someone for helping you unrecognisably transform your life?“.
My point is, what you do matters and it matters big time. Your value may seem difficult to quantify, especially if your clients are getting amazing results. However, there is no reason to undercharge or struggle financially if you can fully recognise and own your true value and charge what you’re actually worth.
It’s our mission at the GCC, to help you with that.
So, what are you actually worth? Try pricing your services using these 5 STEPS:
1. WHAT DO YOU WANT TO EARN PER MONTH?
First, you need to start with the end in mind. How much do you ultimately want to earn per month? $10k, $25k, $40k? Do you even know?
This number does not need to stay static, however, it does need to be defined. How can you bridge the gap from where you are to where you want to be, without identifying what financial freedom represents to you?
2. HOW MANY PRIVATE (1-1) CLIENTS DO YOU WANT TO WORK WITH PER WEEK?
Take a look at your schedule and decide how many private clients you would love to work with per week. If you don’t coach 1 on 1, define how many hours you’d like to dedicate to coaching or consulting each week.
So, for me, my ideal number of clients is 5 per week which means 5 hours dedicated to 1-1 coaching.
3. TAKE YOUR IDEAL MONTHLY EARNINGS AND DIVIDE IT BY THE IDEAL NUMBER OF CLIENTS YOU WANT TO WORK WITH
So, if you want to earn $20k per month and you have room for 10 clients in your schedule, then you need to be charging $2k per month per client to nail your financial target.
If your usual private coaching program is 6 months long, that’s $12k in total per client.
4. IMMEDIATELY ADDRESS ANY LIMITING BELIEFS OR DOUBTS THAT PREVENT YOU FROM OWNING YOUR NEW PRICE
If you got to step 3, saw your new pricing and freaked out, then it’s time to address what’s holding you back from believing that you’re totally worth that new price. Like, seriously! If you truly recognised how amazing you are and how good you are at what you do, you wouldn’t hesitate in putting your prices up to that level.
The only thing standing in the way of you charging what you’re actually worth and creating the financial freedom that you identified in step 1 is what you believe about yourself and the world around you. Period.
5. OWN IT AND JUST FRIGGIN’ DO IT!
In the last year of my former events business, I earned $3,500. I had a core disempowered belief that I am ‘worthless’. Can you tell?
So, what if I told you I went from having a hobby for a business to having my first five figure month? Was it comfortable when I first started charging for high end coaching packages? Hell no! However, the second sales conversation was easier than the first and the third was a breeze. Own it, baby!
I get it, you’re human so your next question is how!? How do you just own it? I acknowledge that I have done a lot of work on addressing and healing the disempowered beliefs that hold me back from the success and financial freedom I desire.
That’s the thing, we are constantly learning, growing and evolving and it’s up to us to get super committed to our own personal development, so we can be the best that we can be for our clients.
The good news is, part of what you learn when training with the GCC is how to identify the disempowered beliefs that hold you back from truly recognising your greatness. Even better, you learn how to facilitate this with your clients’ too.
If you’re interested in joining an organisation that totally has your back and will provide you with proven tools for coaching proficiency, business savvy and your own personal development, then maybe you’d like to join the Club? ~ The Team at the GCC
PS. If it feels arbitrary for you to price your services in this way, what I’d like to emphasise is that you are worth whatever price you set, if you can recognise, own and communicate the value of what you offer. There are people in the world who are willing to pay $20k per month for coaching, so what’s stopping you from being that coach? It’s just your beliefs!