Are you not comfortable charging high for your coaching services?
Are you gripped by fear when you think about charging more for your coaching services and whether people will be able to afford you or not?
You wonder if you might be “overcharging” when prospects say, “I can’t afford you”.
You are not alone.
I know the drill. I have been there too!
This is a very common fear among professionals like life coaches, healers, and therapists who want to help people. They think that they need to learn more, do more courses to hone their skills, and practice more, before they can charge more.
Does this sound like you?
For the first five years in my coaching business, I charged too less. It was great in the beginning because I got to practice my skills with many clients.
Still, I kept charging low even when I’d started creating great results and was providing extraordinary value to my clients.
Because I doubted myself and feared whether people would see the value or not, they’d hire me or not. I was scared to raise the charge.
When you self-doubt and assume in your mind, because of some past experiences, that people can’t afford you, guess what you’ll get more of? – The people who can’t afford you.
But something happened that gave me a wake-up call.
Two breakthroughs changed me.
First one. A client of mine told me that Saloni, Coaching with you has transformed me and my life completely.
Do you know you charge pennies for the huge value you provide? You should be charging way too much than this.
The second breakthrough happened when I spoke to a mentor of mine (one of the highest-paid coaches in the world)
He said to me – Saloni, No one but you decide what your value is. Charge that for your service, then go and deliver 100 times more than they pay you for!
That day, I doubled my fees.
(If you wonder who was the mentor who told me that, comment below to know:)
I had a magical shift after that. People stopped negotiating with me.
The clients who came after that were more than happy to pay me the fees I quoted.
Here’s something you need to know right now as a coach…
- Believe in yourself and have confidence in who you are. Know that you’re providing life-changing value for your clients.
- Know that when people pay you more, they are highly committed to their growth and take aligned action. This means you co-create magical results and your impact is multiplied as a coach.
- When you charge more, you yourself are highly committed to providing a super-valuable service. You don’t take your service for granted. You keep honing your skills and evolving as a coach.
- You know that coaching is a process, so you don’t charge just for the sessions. You provide incredible support to your clients in between the sessions, you hold them accountable to implement. You are available to them in times of doubt and needs, you charge for your services for the whole package, not just the sessions.
- Last but not least, when you charge high, you naturally attract a different league of clients, who understand the value of coaching and are ready to invest high in themselves.
The Best thing is that you grow tremendously with such aware clients.
When you first increase your prices, you might face some transitioning challenges and might need some powerful strategy to deal with them. You and your clients might not be comfortable with the change. Feel free to connect and ask me.
Here are some frequently asked questions by my clients when they increase their fees. Be aware of these challenges, when you do.
Q. I increased my fees and some of my old clients didn’t choose to renew their package. Am I doing the right thing by increasing my fees?
Yes. When you upgrade your fees, and your services, you are basically upgrading yourself. Some of your old clients would leave. This will create space for the new and right kind of clients to come.
Trust the process. Make sure that you do this from the energy of love and confidence in yourself. Don’t keep any doubts. Do not let fear enter your mind and heart.
Q. When I increase my fees, what should I tell my old clients when they renew?
Don’t be scared. You can happily tell your old clients what your new fees are. If the gap between your old and new fees is a lot, then you can keep separate discounted fees for your old clients (less than your new, more than the old), as a bonus because they have been with you for some time.
Q. I flinch when it comes to telling my fees to the prospects at the end of the discovery call, how do I let go of that hesitation?
Believe in yourself. Practice being confident. Prepare for this.
Say in your mind and feel this in your heart before the meeting itself –
I serve my clients magnificently. I provide much more value than what I charge.
They value me and my service so much.
I see the potential in my clients and help them transform their lives.
This fee is just a fraction of the priceless service I provide to them.
Now it’s your time to reflect. Take time to write down what scares and stops you from charging high for your coaching services.
Challenge your limiting beliefs! It’s time to create a shift in your mindset and attitude towards your coaching business.
If you feel any barrier or block, feel free to get in touch with me. Email at coachsalonisingh@gmail.com, Let’s have a chat.
Wishing you tremendous power in your coaching journey.