How to Price Coaching Packages like a PRO
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- Опубліковано 31 лип 2024
- Do you struggle to set your coaching prices? Do you ever wonder if it's too much, too little, or if you're even good enough to charge anything at all? We got you! Coach Ajit shares his 4 best tips on how to price your coaching packages with confidence and ease.
KEY HIGHLIGHTS:
00:00 The reason why we struggle with pricing
00:35 Tip #1: Price based on results
05:07 Tip #2: Know your hourly rate
06:51 Tip #3: Don't charge less than this
09:10 Tip #4: Practice before enrolling
But what if a potential client says, "Your price is too high!"? Follow this advice ➡️ • What to do when a clie...
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#coachingpackages #pricingstrategy #selfworth
What was your key takeaway from this video? Drop a comment below!! // Become a highly paid, impactful & sought-after certified coach trained by Mindvalley. Explore our certifications 👉shor.by/I5B5
I literally was asking for your suggestion regarding my clients not making much money bc I'm a trauma recovery coach... what are your suggestions?
Similar question. Understanding that if people don't pay enough, they will not put in the effort, in a situation where they are motivated for growth and change and show they are willing to work, would it be disruptive to my program to offer a sliding fee for a set amount of clients? So like 1 out of 6 clients is the golden number. (If I have 6 clients I can allow myself to accept 1 at a level they can afford, and if 12 I can allow 2)
Thank you for this - it was a much needed video. I have been working really hard on my money mindset, and have improved amazingly on so many fronts. I'm a health and wellness coach and have just started charging $895 for my 17-week program, which was a big step for me, but I have actually heard myself validating this in my mind and with my husband, saying (and believing) it is so worth this, and such good value. Hearing you say that I shouldn't be charging less than $1500 for a 3 month package was my best moment; you validated me, and told me to charge more next time. Thank you. It was just what I needed to hear.
We're so glad this video was what you needed, Michelle! You got this! Thanks for sharing ❤️
Thank you for the logical thinking that you have brought to this subject of money and pricing. So many people on the internet just say charge more, double your price even when the person doesn't create value that really makes a difference in their client's life. Nothing wrong with increasing your pricing. Just make sure that you can create results for your clients.
Thank you! Loved the last one, I do have to practice that. And the ROI is an area I am more and more confident in. I need to reflect that in my pricing.
Great insights and highlights, Carrie! Thanks for sharing :)
It is quite important that we are convinced about our value proposition and whether we are equipped enough to provide at least 4 times more than what the client is paying for
Well said! Thanks for sharing :)
I like you sharing the importance of confidence. I think it’s important when entering the conversation on the cost, to have the mindset and the vision of the outcome where you see yourself confidently presenting the cost and the client accepting.
I also like you sharing the minimum amount to charge for personal and business coaching because this seems to be the hang up with new coaches. It is so true that the $$ ties in with the level of commitment.
I am not a professional coach yet, but I do coach daily at work as I am the general manager of a Co-op that has struggled a lot over the past 6 years. I coach employees and vendors several times per week. I just took over fully as GM in the past year + and I am correcting the many failures from recent past years. I love the Evercoach program and joining is my gift to the Co-op to further advance its growth so I can slip out a year or two down the road.
Thank you, Ajit, for the wonderful program!
Debbie Russell
Thank you for this advice. I am struggling with this for sure and having a minimum is very valuable to me. I’m a creativity coach and the roi isn’t so cut and dry but being able to move past burnout is so important.
Practical and well-explained. Not attaching my self-worth was the biggest takeaway.
Thank you!
And a very important one, Rupsha! Glad it was useful. Thanks for sharing :)
Great video as usual.😊 Thanks very much.
We're so glad it was useful, Manpreet! Thanks for sharing :)
Thank You. I really need this video as a beginner.🙏☺️
We're so glad it was useful, Mohsina! Thanks for sharing :)
What great advice. This is something I truly struggle with. I'm definitely a heart led behavioral coach
So glad it was useful! Thanks for sharing 💜
Thanks so much for sharing this information. It was very helpful for me so I can begin pricing my Life Coaching business.
We're so glad it was! Thanks for sharing :)
Just found out your channel today! Super valuable and clear informations! Thank you so much for doing that buddy
We're so glad you are enjoying our channel! Thank you for watching :)
All of the information. Is extremely valuable, however, the most valuable for me is the tip number for practicing how to speak with confidence about your price. Thank you.
Glad it was, Ella! Thanks for sharing :)
Really practical and clear advise ❤
So glad you found it valuable! Thanks for sharing 💜
Thank you coach ajit..I have been hiding myself for causing harm to my people around me by abusing my self worth. this whole video was well explained. I have been a member of mind valley for a long time sitting by the side line wishing I had my confidence again. Thanks for sharing.
Baby steps, Aquil! Small baby steps, one by one, will take you wherever you want to go. You got this!
Your so clear I adore every single video you made!
Now living in France where people on the country side earn just above 1000€ a mont!
But ofcourse they want a lifecoach or wellness or business...but ofcourse they can not afford it....and as your First mission as a coach is .. making a better world,you understand that sometimes you have to give!
It's all part of the journey, Erwin! Thanks for sharing and glad you enjoyed the video :)
Your pricing suggestion was insightful; and I appreciate the help.
We're so glad this was useful. Thanks for sharing! :)
I love this! It reminds me of tony robbins saying, "people who don't pay; dont pay attention!"
Well said 👏 Thanks for sharing
My takeaway here is to not under-price my services and be clear and confident in my communication.
Great takeaways! Thanks for sharing :)
Awesome info: loved the breakdown of how much do I want to make and the way to figure it out. What hit me too was establishing a minimum amount to charge for the package. I’m just starting out and This really provided a good starting point for me to build my business.
We're so glad this was useful, Suzanne! Thanks for sharing :)
Lots of takeaways here thank you! Consider the return on investment, guide on pricing and practice, practice, practice!
We're happy it was valuable! Thanks for sharing :)
So pertinent for me right now. The last few sales conversations I've had where I have been selling 5k/6 months packages have gone off without a hitch. Not a single objection which has me Questioning how much I charge.
Thanks for this I am now going to increase my six month package to 6k.
You got this, Brandon! Thanks for sharing 💜
This was a fantastic video. Mahalo!
We're so glad you enjoyed it! Thanks for sharing 💜
Useful tips for pricing
We're so glad they were! Thanks for sharing 💜
I actually like this step : The minimum package which coach can charge..this will help beginner coach to get started confidently.. 👏👏👏
Glad you resonated with this! Thanks for sharing :)
I loved the minimum fee bit. Very easy to apply.
Glad you found this valuable! Thanks for sharing :)
Excellent video, thank you!
I don't tie my self-worth to the $ amount, and I'm grateful for that!!!
I specialize in trauma so my clients usually don't make too much money.
I am more concerned for my clients, so I do smaller packages (6, 50-minute sessions for $600) so it is easier for them to pay upfront.
Any suggestions???
The ROI is the hardest part of a discussion in business - and how to define it for coaching. I picked up a few tips that were terrific here. I wish there was one authoritative source on this, but the elements are here to personalize to my clients so this was very helpful.
We're glad you found this valuable! There is no one-size-fits-all in coaching, so just test, explore, and see what feels good to you and also works for your clients. Thanks for sharing :)
Can I help find clients for a few of Mindvalley's Coaches in Career Coaching and/or Life Coaching? I can also help presell for 15% to 30% cut in their fees?
The last point of practising to yourself before offering your package was probably the most important message. We often offer before we are ready to start negotiations and are taken by surprise when clients pose questions to us. We need to have our messages clear and share them with confidence. TX.
We couldn't agree more! Thanks for sharing :)
How many sessions would this be for 3 months? Are we doing weekly? Biweekly? Monthly?
That's completely up to you, your niche, and your clients, Deidre! Weekly is the most common (12 sessions), but if you can deliver the results you promise with fewer encounters (or if your client doesn't have the weekly availability), biweekly and monthly are totally fine. The price should be attached to the outcome; how you deliver that outcome is up to you! We hope that helps ;)
My takeaway is don’t underestimate your price and practice and practice
Great takeaway! Thanks for sharing :)
I don't know business particulars. I do know about mindset quite well. Can I still coach business owners if I can't "talk shop"?
Oh yes! As Coach Ajit says, "all coaching is life coaching." Every business owner needs support with their own coaching, so they can be better leaders and entrepreneurs. Just make sure you communicate your message effectively ;)
@@mindvalleycoach Thank you for taking the time to offer an encouraging response!
We're happy to serve, Jim! :)
When you discuss these packages, for example, $3000 for 3 months, is this weekly, or bi-weekly. Or is it tied to your hourly rate? Let's say hourly is $500. So that means 6 sessions in 3 months?
Great question, Cynthia! Most coaching packages are weekly, so in this example, one would generally consider 12 sessions in 3 months at a $250 hourly rate. But if you know your hourly rate is $500, then you can create a 6-session bi-weekly package or a shorter package with 6 weekly consecutive sessions. It will also depend on how many hours you want to invest in coaching and also the effectiveness of your methodology (if you need more or fewer sessions to create results). We hope this answers your question!
What would you recommend for a relationship coach package per month? :-) I really appreciate your feedback.
Great question, Elskar! Relationship coaching can be considered a sub niche of life coaching, so it'd be very similar to that range. And you'd have to use the same formula for calculate for only 1 month. However, we invite you to reflect if 1 month is enough to deliver your promised outcome as it's a short amount of time for deep transformation. We hope that helps!
@@mindvalleycoach thank you!
You're most welcome :)
@@mindvalleycoach I still do feel a bit confused as to whether I should say I’m a life coach/ relationship coach or just a relationship coach
I like coaching with all areas of life but have a passion for the juicy relationship stuff..any suggestions to help me feel clear ?🙏😀
Being a life coach doesn't mean you can't be a relationship coach, and viceversa. Life and relationships are very connected and more often than not, life coaches will cover relationships and relationship coaches can also cover some items of overall life. How you introduce yourself will depend on who your ideal client is and what they will resonate with. If your ideal client is someone looking to improve their overall well-being, then they will look for a life coach. If your ideal client wants to improve their relationships, they will look for a relationship coach. We hope that helps!
How to calculate the money the client will make ?
Great question! There are many ways to do this. For example, if you're coaching businesses, you can make a revenue projection based on the company's past data and trends, or if you have previous results with other similar businesses that you can use as a benchmark. If you're coaching individuals, it depends on the areas of life your coaching can impact them (eg. if it impacts their career positively, they could get a raise, a better job, or grow their own businesses). Try different methods and see what resonates most with you and feels more feasible!
Thank you for responding. Great suggestions.
Having that minimum threshold is huge, There is no way I would have started with that number in mind.
Glad this video was valuable, Núria! Thanks for sharing :)
this very thing happen...... I under priced and this person did not engage or commit. They quit and I was now asking for an review so I could do better. They did not give me any feedback. This is the greatest insight today. thank you thank you coach!
What a great insight and learning! Glad this was useful. Thanks for sharing :)