How Much Should You Charge For Your Services?
You know what is not working in the coaching industry anymore? Online marketing techniques that involve quick-fix solutions and online programs that leave you to figure everything out alone.
You know what IS working? Being a part of a brilliant community you can turn to for answers, self-discovery and high-touch support.
I believe the women who join our alumnae graduates in Mentor Masterclass are some of the most successful coaches because of the access they receive to behind-the-scenes truth and in-the-know solutions that are current. By “current” I mean from the heart and smarts of someone who is responding in the moment and not through a video that’s two years old and only touches the surface of what it takes to be a feminine leader.
Women struggle in the coaching industry when they’re deciding what to charge for their services. Most of the time, it’s because they love the work they’re doing and would do it for free. This conflicts with their intention for doing work they love: the ability to create abundance and financial freedom.
Would you like a sneak peek inside my premium life coach training course, Mentor Masterclass? Today I’m sharing part of November’s training, where we work on time management and productivity.
This month’s featured mentor is the amazing Alexis Neely (also known as Ali Shanti), who grew her own law practice into a million dollar a year business by creating a new law business model, which she now teaches to other lawyers.
Today, Alexis focuses her attention on her New Law Business Model, which is transforming the way legal services are provided across the globe, and Eyes Wide Open Life, which teaches financial liberation as a path to sovereignty in the new/emerging economy.
So who better than to teach my Mentor Masterclass students how to arrive at the answer to a very tough question: How much should you charge for your services?
When someone is making an investment and paying to work with you, Alexis reminds us, it’s not about your worth, it’s actually about theirs. She walks us through this BIG shift in thinking about charging for your services. (Press PLAY on the video below to drop into this conversation and hear Alexis explain it all!)
As a coach, you’re helping someone tap into her dream – now how much is that worth? What’s the outcome your client will receive from working with you?
…And remember that both of those things depend on your client, not you!
With this foundation in mind, Alexis’ process around money focuses on then asking yourself: what’s the least you can charge and still meet all of your needs? Alexis recommends you start off charging that amount, whatever it is, and reevaluating on a 3-6 month basis. Your lifestyle and values will be changing, so your rates should, too.
From there, you’ll want to increase your price based on two factors:
- Your increased clarity around the value of your clients’ outcomes.
- You becoming more certain about what your time is worth.
It’s easy to think you can charge 40 hours per week, but Alexis reminds us you should be setting aside time for your own education and skills, marketing, and administrative tasks, which are essential tasks you don’t get paid for.
Alexis is the perfect person to teach these very important lessons about what to charge and how to think about these pieces of your business. She’s also created a truly amazing program called the LIFT Foundation System & Toolkit to help you fill the gaps in your foundation around the legal, insurance, financial, and tax systems of your business.
Alexis knows how to walk you through each and every piece step-by-step, so you’ll feel to your core that you’re deeply supported and thriving as you create and do your Great Work in the world.
Click here to learn more about the LIFT Foundation (and get a $500 discount with the code JEY500OFF).
These are the foundational pieces of starting a coaching business that should never get skipped – yet too many of us tell ourselves, “I’ll get to it later.” I can’t stress this enough, sister: don’t wait on getting the foundations of your business in place! Your business and your work in the world is too important, and there are too many future clients out there who need you.
All my love,
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