It’s hard to be a really effective coach when you’re constantly distracted by money thoughts. And for most of the folks we work with, those money thoughts come from charging too little. There is no one-size-fits-all pricing structure. There isn’t a magic dollar amount that you need to charge just because everyone else is. But how to invite clients to invest in Big Bucks?
So what should you charge for your coaching? I want to help you find the right answer for you.
Tune Into Your Body
Before you go any further, you need to feel totally aligned on your truth. You need to face any fears, insecurities, resistances, or imposter syndrome that may come up initially in response to raising your prices.
I wrote about a body scan exercise to help you face your deepest insecurities head on. So before you go any further, go read that post and finish the exercise so you can move forward with clear insight into your true resistances around charging more.
Invite clients to invest with Pricing That Feels Right
Pricing is as custom as a fingerprint. Once you’ve completed the body scan exercise, you should have much greater clarity into your objections. Now, it’s time to move through those objections, figure out if they’re real or if they even make sense.
You see, fear of rejection or failure isn’t really about money. You could be rejected for $5 or $5,000. The number is not the problem — it’s more that your brain has created an unconscious association that leads to all sorts of assumptions. You see, any rejection is not about you. It may not even be about your work. But it can often feel that away and that shuts down our creativity and we go into fight, flight or freeze mode. So how do you solve this?
By shifting your focus away from you, away even from the client, and towards the problem.
What problem do you solve? And what does this problem cost your clients?
Go category by category. What is it costing your clients to continue to have the problem they’re having? How much is it costing them in time, money, energy, relationships, and effort? How does this problem manifest in all areas of their life? Now you understand that you’re not just solving one problem — you’re addressing all the ways that problem connects to other aspects of their lives. Now it doesn’t feel so unfair to charge a premium.
The money that will solve a lot of your problems will help you solve a lot of their problems.
Now it feels like an equal exchange.
Show That You Have the Goods to invite clients to invest
Next, you have to demonstrate that you have a process you’re totally comfortable with that makes sense to your users. If you can show that process to them, and the transformation you can bring, it will put the price point into perspective for them. Lay it out for them very clearly. “We’re going to follow steps 1,2, and 3 to move you through this pain into bliss.” From there, you’ll be able to gain the clarity and permission to proceed. You’ll provide a shift in how you understand the problem and a different set of tools to address it.
Instead of just saying “My program is amazing,” you need to actually show how it works. Paint the picture for them, so that, not only are they ready for the program, but you both are on the same page about how you will move forward. To be clear – this isn’t you outline all the different modules and exercises, etc. It’s more about demonstrating the pillars of your program.
In our case, those pillars are:
- Clarify: We get you clear on who you truly are, your deep gifts and larger mission, and therefore who your best fit client is (a version of you).
- Simplify: We help you create a core offer that allows you to focus your energies instead of being spread too thin. And a simple system to get clients in the door day in and day out..
- Amplify: We help you get in front of audiences other folks have paid to build and nurture so you can come in positioned as the expert and focus on the coaching that you do best. Two of the world’s leading PR experts co-teach this piece of our program so you can get the media to market for you.
See how I did that? Not a module in sight, but you have a clear understanding of all the mini transformations that we’re going to create together that add up to the big thing.
Your Sales Process Is a Taste of the Coaching Process
Your sales process should be a precursor, a “showing not telling” of the coaching process. You can go deep into understanding the client’s pain and feel your way for the agreement. In this way, you both get a taste for what it would be like to work together.
You can propose alternative perspectives to their problem and see if they’re coachable. Are they willing to see a different version of reality? Or are they super attached to their pain? Can you coach them through their resistance to the point where they’re ready to pay a premium for your program?
They may not be ready to be helped. And that’s okay, your sales process has still done its job. And now you are both clear on where to go from here.
Position the Investment
This final piece is the most critical, but it only works if you’ve done all the other steps right. You’ve shown your process clearly, you’ve demonstrated your understanding of their pain, and you’re aligned with the client on a potential solution. Now, you’ll want to position the investment.
Caveat to this — you will only make the offer when both you and the client are 100% sure it’s the right time, and that they’re ready to work with you. If you’re both ready, then this is where you break it all down and recap the journey you’ve just embarked on together so they understand what the offer actually is.
“So basically what we’re talking about is taking you from being in pain, being lonely, hiding from opportunity in life, to feeling deeply confident and lovable, inside and out. We want to move you towards all the opportunities that come from this restored relationship with yourself, so that you can find your ideal partner. The full investment for everything we’ve talked about is $______.”
In this case, you’ve empathized with their current pain
And helped them see what kind of transformation is possible so that they understand exactly what they’re paying for. The key is to focus on the contrast between their current state and the future state you’re working toward. It’s when you put those two pieces together and demonstrate the distance that needs to be traveled in between, that allows you to charge a premium.
If the distance between pain and bliss is tiny, you can’t charge a premium. That’s fair. But if they have a long road ahead of them, and trust you and your process to guide them, then it’s worth the investment. By positioning the investment right, you’re taking them out of their analytical mind and into their emotional mind. Where all decisions are made, and helping them understand on all levels what exactly they’re paying for.
If this all sounds good to you, if it’s hitting home and you’re starting to recognize your own objections around raising prices. Check out my training on overcoming resistance to money.