This week’s question from our portal “Ask Us Anything” comes from Cynthia:
After 37 years of coaching and almost 19,000 hours, I made it up in my mind that I was starting all over—which I’m not. I’ve discovered I went from being the highest-priced coach out there 15 years ago to charging about 50% of what I should be charging. Now I want to nearly triple my rate for new people, and my head is messing with me. I have current clients paying $2,500 to $3,000 a month. When I look at what other coaches in my space are charging, it looks like my price should be around $6,000. How do I know if that’s realistic, and how do I tell my clients who want to re-up?
Why are you having trouble with your value now, when you were the most expensive coach out there before?
You did make mention of what other people are doing, which I wouldn’t pay attention to at all. I would only do what you want to do.
Create it the way that you want. You know what your value is. You’re looking and comparing what other people are doing, how they’re doing it, how they’re packaging it. Forget all that.
What do you want in your heart? Because that’s the thing you’re going to be aligned with the most, and that’s what people are going to buy. When you’re in integrity with what you want on the inside, you will send that energy to them, they will resonate with it, and they will want to coach with you, and they will want to pay you what you ask.
Now, on the numbers: How much do you want to earn a month? How many clients do you want to work with every month? If you could have it exactly the way you want it, thinking about your lifestyle? So what would you have to charge each client to make what you want per month?
Number one, your coaching is worth it. It’s worth way more. There are people who charge millions a year as a coach. You don’t have to ever worry about the spread there. The only thing we ever have to think about is: does our value equal what the client is going to get? And you already know that’s done. You’ve got tremendous experience, tremendous education. That’s not even a question.
When you’ve developed those sides of yourself—and this is for any business—the only question is: how much do you want to make, how much work do you want to do, and what do you want your lifestyle to be? That should be what determines how much you charge. And you should not budge on it based on any doubt, worry, or what anybody else is doing.
So the clients at $2,500 are now $5,000 if they want to re-up. And if they don’t, other people will come in.
