Look. I get it. I’ve been through it all. The ‘How Much Should I Charge’ and ‘How Do I create Packages That Sell’ are two popular questions that get asked by both clients and strangers daily (you’re always welcome to ask your biz building questions on INSTAGRAM). Well today I’ll be spilling all the beans on how to not only price your coaching packages so they actually sell but a few ideas on how to deliver your coaching as well!
So before we get too deep into this whole pricing rabbit hole I do want to cover two quick things first: 1). I’m going to challenge you to just take some imperfect action and decide on a price by the end of today. You can rest easy knowing that NOTHING is ever set in stone and you can change / test pricing whenever you want! I mean, that’s the reason you got into coaching and started a business in the first place right? You’re the boss, you run the show! 2). We’re going to have to cover different ways of delivering your coaching sessions / programs as price will be greatly affected by your delivery methods. But before we start choosing random prices and creating random packages let’s cover a few different ways you can deliver your coaching:- By the Session – e.g., $100 / session (NOT RECOMMENDED AT ALL)
- By the Month – e.g., $450 / month (A MUCH BETTER OPTION)
- By The Package – e.g., 6 Month Package for $6000 (THE KEY IS CREATING A TIERED PRICING SYSTEM)
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So, for example, you may offer 20 clients an 8 week group coaching package that gets your clients a desired results (losing weight, changing habits, making twice the money, becoming a master cook etc.) for $800 per student. Then you could offer a VIP one on one experience that takes your client through the same 8 week transformation but offer an hour of one on one time a week and daily accountably for $2900. You could also add on a 2 week trial package and a 4 month small group all intensive coaching package. You then may want to offer up 6 month or 12 month coaching packages for long term results – truth is, there’s no limit as to what you can offer any how many different packages you can put up, but what all these packages have in common is one thing: They get clients a desired result (just delivered in slightly different ways). Coaching Tip: It’s important that you sell the RESULT. Once you’re clear on the result and the transformation your clients want, creating your packages becomes simple: Create a step by step system that gets your clients the results their after. For example, I break my coaching down into an 8 module program that takes clients from a passionate idea to a profitable business, each module structured to take them to the next step. After completing all 8 steps clients will have an online coaching business that generates leads and discovery calls daily. Check it out HERE if ya like! Once you’re clear on the transformation you’re offering and the packages you’d like to offer you’re ready to create your pricing:How To Price Your Coaching Packages So They Actually Sell!
Here are 3 things to think about when creating your pricing:
1) TIME: How much of your own time are you investing within the coaching programs. If you’re working one on one with someone and spending 1 hour a week plus 10 minutes daily shooting over emails then make sure you’re getting paid for those 2 hours a week. If you price your coaching packages at $300 a month but are spending 10 hours a month with your clients then you’re not only undervaluing yourself but you’re trapping yourself into a low paying job – and worst of all your clients results will suffer. One way to get around the time for money trap and still offer amazing value at a great price is by creating a group coaching package where you take 10 or 20 (or more) clients through a transformation together!
COACHING TIP: Create a group coaching package as your mid range package and a one on one program as your higher end package.
2) SKILLS: It’s a topic that can’t be ignored. Do you have any social proof? Have you delivered consistent results for your clients? Do you have a large data-base of resources and worksheets that you’ve created over years of coaching or are you looking to get your first handful of clients? As your skills increase so do the results you get for clients!
DO NOT fall into the trap of under-valuing yourself though. I’d say 90% of coachesI work with (even seasoned coaches) are always under-valuing themselves. I can tell you with almost 100% certainty, even if you’re brand new with no experience, that you’re charging way too little. As long as you’re an honest coach who’s committed to getting your clients results no matter what then don’t be afraid to charge what you’re worth.
COACHING TIP: Spend 30 minutes or more every single day honing your coaching skills and learning more about your area or expertise. It’ll only be a matter of time until you’re the GO TO expert coach that everyone wants to work with – and you’ll be able to price your coaching packages accordingly!
3) COMPETITION: Truth is, I don’t believe in competition. Too many coaches and entrepreneurs in general are always scoping out the competition and trying to either match or beat them on price. I honestly never really bother looking at my ‘competition’ and absolutely DO NOT base my pricing on what ‘they’ charge. I simply charge in proportion to the results I’m able to provide. I not only help coaches go from zero to 10K a month and beyond but I help them create a life full of freedom.
COACHING TIP: Don’t worry about what the competition charges. Simply get clear on the results you deliver, break down how much of your time you need to invest with your clients and create a few different packages to meet your clients needs. Oh, and don’t forget to be a big fish in a small pond! Check out last weeks blog post HERE and learn how to stand out from the competition and dominate your niche!
And, again, don’t stress out about getting is just right. Your pricing isn’t written in stone. As you evolve, get results and gather testimonials you’ll naturally be able to charge more as you get more efficient at delivering results.
Lastly, take action! Just decide on how you want to price your coaching packages and go with it. Be confident when presenting your pricing and know that you help change lives. If ya want to join some free training that dives in-depth on some of my best tips, strategies and a behind the scenes look at how I run MY business then click here and start building the business of your dreams!
Your Coach,
Lucas.
At the end of the day it all comes down to delivering results. If you can deliver amazing results and WOW clients then you’ll be able to charge whatever the hell ya want. – Lucas Rubix
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