Myths about Pricing Your CoachingSep 05, 2020
Have you heard the following advice?:
“Don’t listen to leaders who tell you that you have to give away stuff for free, that you have to always post on social media, write books, and deliver courses in order to succeed as a coach. You need to learn to sell high-ticket coaching NOW!”
Said teachings have ONE smart point: “Don’t listen to leaders who tell you that you HAVE TO ____________.”
That one segment is true. Nobody can tell you that you HAVE TO promote yourself in a certain way.
But advising you to go for the gold right from the get-go - selling only high-ticket coaching - after giving one workshop or one free coaching consultation, is not only distasteful, but also incongruent with the true essence of coaching. Also, on the contrary, it is not even a measure of real confidence.
I get it ... the implied rationale used over and over is, "Clients get the most out of coaching when they INVEST IN THEMSELVES at their highest level."
But here are two solid reasons that debunk the high-price-from-the-start strategy:
1. Not everyone who is ready to invest in their lives 100% has current access to tens of thousands of dollars. Do you want to coach only people with money? Or do you want to coach clients who are, indeed, invested in every other way? Clients who will happily rave about you to others because of the transformation in their lives, with your coaching.
(I feel certain that you, as a coach, would be curious to know about other ways to serve more, using less of your time, and still earning a lucrative income ... all while being praised and promoted by your clients. No?)
2. Reeling in clients WITHOUT them first sampling YOU as a coach offers zero opportunity for a deepened “know,like, and trust” factor. More often than not, people who pay high dollar amounts right from the start are hoping, on some level, that they are buying their own personal transformation, but once they see there is gritty work involved, they regret their spending.
Can you have high-ticket coaching packages? Of course! I do.
I choose to have no more than six one-on-one clients per year at that level of coaching because I am only one person, and I cannot serve at my ultimate best if I have a lot of demands on my time. So, yes, one-on-one coaching with me is not cheap.
But I have other offers for those who prefer to get to know me first, and/or those who ARE invested in themselves but cannot yet afford one-on-one coaching.
Let's explore the psychology of charging only high-ticket prices.
The NUMBER ONE underlying reason for selling ONLY high-priced coaching might shock you. It is little more than a PERCEIVED NEED TO BEE SEEN AS HIGHLY PROFESSIONAL. Period.
There is absolutely NOTHING WRONG with wanting to be known as the professional you really are - the expert in your field. But, the underpinning truth behind the mindset of having to charge high fees right from the start is ...
are you ready to hear it?
Think about it. Why would any coach hold back from giving, giving, giving if they felt abundant, unlimited, self-confident, and fully trusting that the whole universe has their back? And why would they not choose a little more creative approach, using a combination of free, low-price, and high-ticket coaching?
Want to know TWO not-so-secret SECRETS?
1. The richest coaches on earth are CONSTANTLY delivering limitless content and coaching for FREE, FREE, FREE.
2. The real GOLD is in veracity, versatility, and variety!
Here is some free advice on wonderful ways to serve that don’t infringe on your precious time as a coach - creative actions that take only an initial investment of your time, but then they pay back dividends in unlimited measures, while you continue to create more and more:
1. Create “evergreen” courses (where people take the course on their own, without you having to show up live online) that have incredible value, and sell them for a very low price, OR have people access them for free by opting in.
2. Write small e-books with a ton of tips, steps, and how-to’s. Have people opt-in for them for free, or for a low price. Do the math. One e-book that solves a huge problem for your potential client can sell for $5.99. It is packed with so much value that it spreads by word of mouth, and you make money endlessly ... while you sleep or work or play.
3. Record videos offering two - five valuable tips. Upload the videos to your YouTube channel (or, again, have them opt in for free on your membership site) so people can experience your coaching in bite-size pieces and want to buy from you, either instantly or later down the road.
You are not limited in what you can offer. Get into the head space and heart space of abundance within. Own it, use it, and give, give, give, not because someone told you to give your stuff for free in order to win, but because there is no scarcity of what we can create. None whatsoever!
Acting in this way is a beautiful and genuine way for people to get to know, like, and trust YOU as their go-to expert.