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Pricing: Is your pricing destroying your business?

Do you find talking about your pricing to clients can be really awkward at times?

Most of us do, part of you may wish you didn’t have to charge a fee for the work you love to do but then reality sets in and you remember that you also have to pay the bills too.

We’ve all been there, especially in the beginning of our businesses but we need to change the mindset around our pricing and know that in order to be in business.. and to STAY in business, you MUST earn enough money.

It’s the foundation of business. Otherwise, you just have a really expensive hobby.

Newer coaches, counsellors and therapists typically price themselves too low when starting their businesses and ultimately use pricing strategies that devalue their work and make it harder to be financially stable in their business.

How does this happen? Usually this happens one of two ways…

Beginner Beliefs

This is the idea that they need to “earn their strips” before they can charge more significant fees. Yes, it is true that the more experience someone has, the more quickly and efficiently they can help their clients get to the result, so they are able to charge more for their services.

However, that doesn’t mean that a NEWER coach must work for free!

When you are newer, a great way to look at pricing is that the fee that the client pays, needs to do more than just pay the coach. You need to remember all the other fees associated with helping that person i.e. office space, computer, internet, phone, website etc. You must not forget about all of these other expenses.

So again, the fee that the client pays, needs to do more than just pay the coach.

One-Off Offerings

A “one-off offering” is when you book single coaching or healing session, “a la carte”. Meaning, a client agrees to invest in a SINGLE SESSION with you, for an agreed upon amount of money.

Again, this is common in newer service type businesses. The thought is I can really help them in just one session, but the reality is at the end of the session you know you haven’t helped fully solve the problem and the client feels this too.

The client has now invested time and money into their session with no results. So typically, when you try to book another session, they have a legitimate and totally understandable resistance, as they have it in their mind that they haven’t gotten great value for their money.

Like most newer service based businesses you probably fall into one of the above and are stuck on how to really grow your business and make money doing it.

So what does work…Packaging your services!

That’s right, packaging your services is the one recommendation I give to ALL of my clients. By doing this you can create a package that will include enough sessions to help the client ACHIEVE the outcome or result they are desiring.

Then once that is solved, you can offer to help solve their next pressing problem, with another Package of Services.

A package should include:

– A Specific number of sessions
– Over a specific period of time
– Specific steps towards a specific outcome or result.

There are many benefits to packaged pricing, one of the biggest ones is getting a commitment from your client up front, to work with you over multiple sessions, toward solving their problem. Also, you give your business more certainty about your income and revenue.

To go more in-depth with this topic and to learn concrete ACTIONABLE steps you can take to start attracting more clients right away in your coaching, counselling or therapy business, check out this upcoming free training. Register Here: Attract Perfect Clients