Which Coaches Should Be Charging More for Their Services?
A huge majority of coaches in both the online and offline sectors are charging hourly.
Ouch. This is not the road to financial freedom. It’s the road to hell, paved with exhaustion and needy, whiny, underperfoming clients.
Some are told to sit down and figure out all that goes into their services and then divide. Others are told to do market research of similar coaches/programs and charge in the same vicinity.
These are mistakes.
You might not have the money blocks or self-limiting beliefs that another coach has, thus holding themselves back from making more money. You might also have far more and still lack the confidence to charge what you should. Pricing is not a one-size-fits-all situation.
Most coaches and some service-based businesses start out underpricing themselves. And they pay for it by attracting lackluster clients, having to chase quantity over quality, and then total burnout.
But if you have a quality product, with amazing support, and you believe in what you offer, you should be charging more than you probably are for your services.
Double or Triple Your Income Without Increasing Your Workload
How would it feel to double or triple your income without making more work for yourself? Pretty fantastic right?
Here is you permission slip.
Charging premium or high-end prices doesn’t have to be a stretch for you. Signing clients at these rates doesn’t have to be difficult.
You should be compensated well for your services and products so long as you’re offering with integrity. And this is possible no matter what niche your in.
I’m gonna share 5 things you can do on the regular to make increasing your prices and selling out at those prices easier!
High-End Coaches Deserve High-End Compensation
These are all things I did to increase my price without increasing my workload.
I sat down and did a comprehensive breakdown of my experience, education, and knowledge. Both from the past and ongoing.
I have taken tons of trainings, classes, retreats, and conferences over the years. I have a degree in Business Finance and Managment. I’ve been mentored under the John Maxwell leadership program. Some of my former business coaches, Eric and Jessi, have taught me so much about balance in business, family, relationships, and faith.
I continue to work with coaches (3 last year), go to conferences, and take courses. But here’s the thing. You DON’T need 25 certifications to start coaching or charging decent rates. Teach what you know from where you are. I guarantee there are people who need what you offer and are ready to pay for it. The ones who question your prices, aren’t for you!
There are coaches who have been doing what I do for less than a year and charge double and even triple what I do (hell yeah for confidence ladies). And there are coaches who’ve been at it just as long as me and are still charging a meager hourly rate and not getting any closer to financial freedom or their goals. Which would you rather be?
High-End Coaches Need to Share and Care
Get Personal.
You have to let people get to know you. No one buys a high-end service from a stranger unless the referral is 100% trusted.
If you keep people at arm’s length, they will never trust you enough to invest with you.
And that sucks because you can really help them right?
You have to be willing to share what makes you…well, you. Quirks and all. This can be super scary and people can be hesitant to post online. I get it. Really I do. It’s why I’m not on Facebook.
But there are other, safer platforms that you can use to let people get to know you. (Hello email list) But even Instagram has better security than FB-odd since they are now one company but are run differently. And you can share pictures of your family without sharing names. You can show pictures of your vacations, after you’ve safely arrived home.
Let people laugh with you. Let them see you when you’re having an off day. Stop sugar coating and only sharing the highlights. Be authentic and the best clients for you will connnect with that.
High-End Coaches Should Deliver Top Notch Support
This should be a no brainer but as someone who has spent her fair share on high-end coaching , I was floored by how crappy some people’s customer support is.
I actually had a $10k coach who couldn’t remember my name!
If you want to charge high-end prices, deliver a high-end service.
Go above and beyond. I am available to my clents in between calls more than ANY other coach I know. 1:1 investment with me means upleveled support and access. I stay in touch with my clients even after our contract has ended and so much more.
PRO TIP: This does not mean no boundaries or running yourself into the ground. It’s why I only work with 3-5 clients per quarter in my high-end offer. When you are charging high-end rates, you can afford to give better service to fewer clients and this increases their chances of getting amazing results from your time together.
Make sure your onboarding and exit process makes them feel like a premium client. I send luxury gifts at the finish of my program to all my 1:1 clients 🙂
Ask For Constructive Feedback From Your Clients
If you are brand new to coaching and haven’t worked with clients yet, do you have a co-worker who would look over your process with unbiased eyes?
Do you have a friend you could do a test round with as a beta tester to make sure your process flows and makes the customer feel appreciated?
This will also increase your confidence and help to ease any fears you have about putting someone through your program.
But once you are working with paying clients, you should be checking in with them for feedback. I recommend at least once for every month you are working together.
This does a few things:
It allows you to gather testimonials as you go.
It allows you to tweak what isn’t working for the client before they get all the way to the end of your program, perhaps not getting results to the fullest because of something minor that could have been adjusted weeks ago!
Charging High-End Rates Requires Ongoing Money Mindset Work
I practice what I teach.
You have got to be doing ongoing mindset work around money, business, self-limiting beliefs, sabotage, and gratitude, at the very least.
If you’ve followed me any length of time you know that I obtained financial freedom and then lost it having to start over, not once, but twice.
I learned the hard way, that mindset work is not a once and done kinda thing. It’s how I ended up shifting away from just leadership into the mindset and success side of coaching.
New Levels, New Devils.
Our work around money is never finished. Think yours is? Feel free to book a free call with me and I bet I could help you uncover something you didn’t even realize was festering under the surface, or possibly sabotaging your efforts to become financially better off.
Often it’s the things lurking under the surface, undealt with, that keep us from reaching massive amounts of success in our lives. There is a process to working through money and success blocks.
If you’ve been struggling to charge more, undercharging for too long, and chasing clients but you’re ready to double or triple your income you should fill out an application for my 1:1 waitlist. The wait is never too long, and you’re ready for the next step!