How to Charge What You’re Worth
If you’re like most business coaches, you don’t believe you can really charge what you’re worth.
And there are reasons for that:
Fear – You’re afraid that by charging higher fees, you’ll lose clients or won’t be able to close the clients they need to keep the bills paid.
Lack of organization – You’re all over the place, with no consistent marketing efforts, sales strategies, or coaching packages. You flit from one task to the next without being grounded in an intentional strategy or plan.
Generalization – You lack a specific niche or specialty that will allow you to gain authority in a particular industry. As generalists, it’s much more difficult to build a following or explain your value to prospective clients.
But there IS another way.
Make the Midset Shift
So how do you overcome your fear?
You need to make an important mindset shift.
Understand that in a world of non-stop information, entrepreneurs and business owners desperately need help from trusted business advisors to sift and sort that information and apply it in their businesses.
That’s what good business coaches do, and you’re worth every penny for providing that service.
In a world of non-stop information, entrepreneurs and business owners desperately need help from trusted business advisors to sift and sort that information and apply it in their businesses.
Of course, it’s not enough merely to understand that intellectually. You also have to communicate it to your prospects.
Focus your sales and marketing messaging around these three areas:
How much TIME you’re saving them…
How much MONEY you’re helping them make…
How much EMOTIONAL ENERGY you’re helping them conserve or redirect toward business-building strategies that are actually effective.
Business owners are willing to pay—and pay well—for business coaching that provides these benefits.
Get Organized
In the past, if you wanted to become a successful business coach, this is what it took:
A degree in business. Decades of executive experience. A business coaching franchise. At least $100k in your start-up war chest. Years of struggle until you finally had enough clients that you weren’t constantly in a panic about where the next one was coming from.
Many new coaches simply didn’t have the magical combination of time and money to make it happen. It’s no wonder that some estimates of the business coach failure rate were higher than 50%.
But not anymore! All that has changed.
The rise of the internet, and the availability of smart, savvy, and affordable business coaching systems—for both you AND your clients—have changed the game.
But most business coaches don’t know where to turn.
They struggle to attract and retain high-paying clients, ending up panicked and scattered.
They think:
Maybe I need to post more on social media…
Or maybe I need to spend more time cold-calling…
Or maybe I need to join my local Chamber of Commerce…
Or maybe I need to hire this guru or that expert…
And so it goes. Until you’re burned out or washed up.
But there’s a better way.
It starts with knowing exactly WHO your best clients are (and no, you can’t be all things to all people)…followed by a sleek and simple marketing strategy to attract and convert those clients…and ends with a business coaching curriculum that is PROVEN to work, so that your clients stay, pay, and refer for years to come.
(We’re biased, but our favorite system is our Rock Star Coaching System. Check it out.)
Specialize
Too many business coaches get stuck serving any client who comes their way, as long as they’ve got a pulse and are willing to write out a too-meager check now and then.
Get enough of those, and it might even be almost enough to pay the bills…but certainly not enough to live the lifestyle you went into coaching for in the first place.
What’s the problem?
You and your clients are stuck in a transaction-based relationship instead of a value-based relationship. This makes you more like a hired hand than a trusted coach.
But when you differentiate yourself…target a specific niche…and change the way you think about business coaching, marketing, and selling…
Suddenly, everything changes.
Instead of providing generic business advice to anyone and everyone, you’ll be working with precisely chosen clients to grow their sales, fix their cash flow problems, and build an agile team using industry-specific strategies that you can deliver with confidence.
Suddenly, you become known in your industry or niche—freeing you to charge more for your services, create better results for your clients, and spend less time wondering where the next new client will come from.
You don’t need to settle for low-quality, low-paying clients.
You can grow your practice to attract and retain clients that will pay you what you’re worth. Begin to make these important shifts today!
