Many coaches and consultants fail to price according to their worth and the value they bring to clients. If you were to draw a graph of the fees coaches and consultants charge on one axis, and their value to clients on the other axis, you would see something that looks a lot like a randomized scatter plot of data points. In other words, fees are all over the place, and often not correlated to value or expertise.
Worse, there is no standard way that coaches and consultants charge. Some charge by the hour, some by the day, some by the month, some by the value of the engagement.
If you feel awkward discussing money with clients, or if you know you aren’t charging what you deserve, then you probably have low pricing self-esteem.
If you want to charge maximum rates, there are a few things you need to start doing:
- Find clients that have big, pressing problems and the budget to solve them.
- Be credible and visible enough to attract those clients.
- Get comfortable and good at asking great questions to uncover the cost of their challenges and the value of solving them.
- Get comfortable and good at asking key questions about budget and decision-making authority.
- Get comfortable and good at handling objections the prospective client might raise about price.
- Start pricing your services based on the value you bring, not the the amount of time you spend.
- Shift any limiting beliefs you might have about discussing money.
Here is a quick example from investment banking: Let’s say you wanted to raise $1 million. Your investment banker raises that money with a single phone call. How much would you pay for that kind of result? Certainly not a nominal hourly rate. Executives pay more money for results in less time.
Stop having low pricing self-esteem. When you join GetMoreClientsU.com, we hold you accountable for charging what you are worth.
Isn’t it about time you started doing that?