How to Charge What You’re Worth
Are you undercharging to get clients? Or do you work too many hours for too little money? Maybe you fear that if you increase your fees, you won’t be able to find clients willing to hire you.
In this article, I’ll share with you four essential steps that will allow you to charge what you’re worth and get it.
You can increase your fees 20%, 50%, or even 200% and get more clients than you do now. But before you do, there are a few things you’ll need to have in place.
Each of the following four steps can help you increase your fees and/or earn more while working less. But when combined together, they have an amazing, synergistic effect – allowing you to truly charge what you’re worth.
Here are the four steps to focus on.
Step 1 – Look for people who are desperate for a solution
There’s a big difference between someone who is desperate for a solution to their problem and someone who is slightly interested in your services. The first is willing to invest time, money, and effort into getting relief. The second one isn’t.
Many coaches undercharge and struggle to get clients because they are trying to “sell” their services to people who aren’t convinced that they need help in the first place.
Your ideal client is someone who is desperate for a solution and is already looking for the transformation that you offer. There’s a good chances that they’ve been suffering with their problem for months, years, or even decades. And nothing they’ve tried has worked well or had lasting results.
Step 2 – Determine the real value for what you offer
Coaches often undercharge because they’ve never figured out the true and real value of their services. Miss this, and you’ll end up working for peanuts – with a hobby, instead of a profitable coaching business.
The real value is equal to the transformation your clients experience, not the amount of time you work with them.
Write down the results your clients experience in their life after working with you. Do they have more energy? Do they feel more confident? Are they able to earn more money, get a better job, or find their true love? Make a list of all the ways they benefit.
Ask yourself, what that is worth to them? What is it worth to no longer be anxious or depressed? What is the value of doubling their business, getting a good night’s sleep, boosting their energy, or finally eliminating pain?
Try to put a monetary amount on each benefit, and you’ll quickly see that you can easily charge what you’re worth for the transformation you offer.
Step 3 – Create a proven, step-by-step system for getting results
Let me show you how powerful a proven, step-by-step system can be for charging higher fees.
If you wanted to lower your blood sugar and boost your energy, would you rather:
A) Work indefinitely with a health coach on your lifestyle and food choices until you get the results you want?
B) Start a proven, step-by-step, 6-month program for lowering your blood sugar, losing weight, and boosting your energy?
Obvious choice, right?
Consider the services you are currently offering. If your clients get amazing, transformational results, then you already have a proven, step-by-step system in place. That means you just need to document what that system looks like. Then use it in a program.
Step 4 – Offer packages and programs, not hourly coaching sessions
This is an extension of your system discussed in Step 3. Your programs (and packages) will include your proven, step-by-step system, along with a collection of features that produce a specific result.
Your program may include a number of coaching sessions, email access between coaching sessions, handouts, books, video training, workshops, or any other features and services that a typical client would need to get the transformational results you deliver.
I recommend you offer at least two different programs, each for a fixed investment and specific time frame. That way you have an entry-level program, like a Jump Start package or group program, for people with a limited budget, and an in-depth program for people who want a lot of your time and attention (and are willing to pay for it.)
You can easily charge what you’re worth and get it. Think about the services you currently offer and the amazing transformation your clients are getting. Then redesign your current programs with the above four steps in mind. You should notice an immediate increase in the number of clients you are able to attract.
I recommend that you increase your fees at least 20% to start. Many of my clients have been able to increase their fees 50-500% with just a few tweaks to their existing programs. Over the years, I’ve personally doubled and tripled my own profits multiple times by focusing on these four things.
What are you waiting for? Find a comfortable place to work, and get started today.
Please leave a comment or question below – I’d love to hear from you.