Charge What You Are WorthJul 27, 2020
Pricing? No one wants to talk about it, but it actually can be a lot of fun.
Identifying your value and the value you are offering is actually easier than it sounds if you take the time to think about it.
It’s deciding what people will pay for what you are offering and your knowledge. You need to be clear on the value you are providing to your clients and the impact that value will have on their future success.
If you are just starting out, you are probably too timid to charge what you are worth. You are either not sure or do not believe completely in what you offer.
As business owners I am sure we have all had times in our life where we did not 100% believe in ourselves and the value we offered. I have been there. The more I coached the more I realized how serious of a problem it is.
During my own business journey, I found a way to clearly understand what I offered and the value I brought to the table, so I could identify how much to charge for my services and programs. This shift allowed me to attract more clients.
Now I teach my clients my process so they could do the same.
With a little work on your end, it’s easy to follow my system to pricing your offer.
Here’s the 5 step process I created:
Step 1 – Make a long list of all the services you offer or want to offer
Step 2 – Put a time beside each service – how much time does each service take (Your time)
Step 3 – Which services will you offer as an individual service (For example in Coaching I offer 1:1 coaching for an hour. Or Leadership coaching for 5 hours)
Step 4 – Can you offer your services in a package format and which service would make sense packaged together. First create a package with everything in it, then you can scale it down and make smaller pages. (For example, I have a 3-month program that offers 5 hours 1:1 Virtually or in person, coaching calls and email support)
Step 5 – Your hourly rate – now that you have laid out what you can offer your clients and the value you provide – identify what your hourly rate is depending on your skill level and years of experiences. Do some research on what other people in your industry are charging and what they are offer and find a number that fair for your level of skill. The more experience you get the more you will charge.
If you would like to chat further about this topic feel free to book a complementary discovery session with me.