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This episode is an add on to the Money Mastery series because, while I’ve been getting a lot of praise for these episodes, I hear and can feel the fear out there holding you back from putting these things into action.
A listener, Jil, said:
“I would have never considered odd number pricing. Great tips! You continue to challenge my mind’s instinct to want to charge lowers prices than I should. It does freak me out though.”
And that’s why I’m doing this episode today because Jil isn’t the only one feeling freaked out about pricing enough to earn well.
You took a huge leap not long ago … deciding to invest significant money and time into learning how to coach.
Your dream of having your own coaching business doing something you love has driven you forward so far.
But now, it’s time to prove to yourself that you can make a real business out of this. You can earn well, replace the income of the job you so want to leave.
Get Out of the Pricing Low Zone
You’re reading a lot, listening to this podcast. Doing a lot of brave things behind the scenes.
And when potential clients present themselves to you, you do enroll them … at some low price you’ve pulled out of nowhere.
No matter how you justify it, some part of you knows just then that you’ve let yourself down a bit. You know that the real reason for charging those low fees is that you don’t yet believe in your value as a coach.
Oh I’ve been there! It’s an icky feeling.
And that icky feeling can negatively affect your relationship with your client. In fact, there’s some part of you feeling resentful when you work with that person even though it’s buried in shadow.
But it feels so much safer to stay in the LOW ZONE.
You’ve convinced yourself (at a high cost) that it’s best to own your newness to this role of coach and business owner instead of owning all that brought you to this moment.
And there is so much life and work experience, wisdom, training that has brought you to this moment.
Own Your Value As A Coach Now
You know when other types of new companies open their doors they too invest heavily in their start up with faith in their dream. But they didn’t start by pricing themselves so low that they couldn’t recoup their start up costs rapidly. They know they can’t because they must recoup the startup costs rapidly.
I guarantee you that there are coaches out there starting with pricing in the HIGH ZONE of pricing.
They take ownership of all they brought to the table and believe in themselves. That energy flows out to their potential clients so that YES is a foregone conclusion.
And within a few months those coaches have paid themselves back for the start up costs of their business. They are now moving into the PROFIT ZONE.
It’s time to value your background experience, your passion and sweat equity, the significant investment of time and money you’ve put into this and …
Pay Back Your Investment in Coaching Quickly
Do you want to take 5 years to do that? Of course not.
Think about it. Do the math. At the prices you’re charging how long would it take you to pay yourself back?
So far in the Money Mastery series I’ve walked you through the mindsets and practical actions you can take right now to earn well as a coach. It’s worth listening to them all consecutively.
- Episode 53 is about How To Get Prosperity Thinking Working For Your Coaching Business
- Episode 54 is about how to Awaken Your Money Mojo
- Episode 55
- Episode 56 is about Are You Turning Away Coaching Clients With Your Pricing?
- Episode 57 is the mechanics and mindset behind Give Yourself a Raise
- Episode 58 is simple ways to Plan for Profit in Your Coaching Business
- Episode 59 and Episode 60 are How To Develop and Price Your Signature Coaching Program
Now, I know that you want to put all of this into action in your coaching business.
But there’s this HUGE mental block.
You wonder, “Why would anyone pay for my high ticket program?”
No one will if YOU don’t get behind it in both belief and practice.
Is there really a huge mental block or is the story you tell yourself?
In reality, what feels like a thick ten foot tall wall that’s blocking you is really more like tissue paper. And it takes a small act of will to push through it.
Suspend Your Disbelief About Your Coaching Value
You’ve done this all of your life – each time you did something new.
- As a baby you learned to crawl, stand and walk because you didn’t have an inner critic yet to create limitation stories.
- In school you were asked to use your mind to create from nothing but vague direction over and over again.
- As an adult you’ve taken the plunge into risky experiences, long term relationships, jobs, buying a car or home on credit – suspending disbelief that you could handle the responsibility.
Every time that you accomplished the next thing in your life, no matter how large or small, you’ve automatically suspended disbelief that you could do it and then not looked back.
In fact, you quickly forgot your fear and the sheer will it took to cross the threshold and kept crossing that threshold faithfully.
This pricing thing is no different. Poke through that old tissue paper and don’t look back. You’ve got this!
In the Next Episode: Coach, Are You Focusing On the Right Things?