Save $3000 on Your Coach Training
I reviewed the kit myself, but also asked my good friend and new coach
Luke MacDonald to review the materials in depth, to make sure new coaches
would love this. He sent me this email:
You can read my full review of the Deluxe Coaching Kit and order your copy today here:
Free Download: Report on Coach Training and Certification
This report by David Wood and Daniel Midson-Short reveals the real story behind coach training and certification, answering these crucial questions:
1. Do you need to be certified at all?
Available now as a free download in pdf format at:
(Comes as part of the free Coach Training Mini e-Course)
(Continued from Part
1 earlier this month)
However raising fees is a natural, healthy progression as you gain experience and clients. And - it can make you more attractive!
Following our article earlier this month, here are some tips to help you with the process!
Have them PERCEIVE more value
All your credibility in the world is of no use if you don't share it with your clients - normally via your web site.
And, you need to educate your clients on the value you provide. They spent $3,000 on their last vacation, but they can't s'pend $3,000 on changing their life? It helps to remind them of this sometimes. Working with you is VALUABLE. Getting this fact alone can help you increase your fees.
Always collect testimonials from your clients. As you get more and more on your site - particularly one's showing specific, valuable results - you'll feel like charging more, and people will be willing to pay more.
If you can help your clients produce concrete results - that people are willing to pay for - you can charge more.
For example, 'I feel better in my relationship' pales in comparison to 'you saved my marriage; my wife and I thank you from the bottom of our hearts'.
Consider this testimonial I received about three years into my coaching practice:
In early 2000 I was an executive with a major insurance company. I asked David if he would discuss a business idea with me over coffee, and ended up hiring him as my business coach. After only two years and some great coaching, I flew to London and sold my creation to an international consulting company. Thanks for the support Dave!Would you increase your fees after something like that?
Be known as an expert
Stop trying to coach everyone on everything. If you become an expert in a specific area, and show people that, they'll be willing to pay more to use you, because you are THE expert. For example, I focus so much on supporting coaches - it's obvious that's what I do - so people are willing to pay more to work with me than they would with someone who merely dabbles in it.
How much of a price increase?
If you follow the above points - there's really no limit to how much you can increase your fees - for NEW clients.
I went from A$150pm, to $300, to $400, to $550pm, to $2,100 for 3 months, to $2800 for 3 months. (And I'm about to bump them up again).
It doesn't matter that your other clients are paying $10 - you can still charge $100 for new clients. It's about whether or not they are receiving value from you.
To set your new price, ask yourself: "How much do my BEST clients think I'm worth?"
Another interesting rule of thumb I've heard is: "You should lose approximately 20% of your clients due to price".
What about current clients?
Raising prices is easier with new clients - as they won't normally even know about it. Some coaches say never raise the fees for your old clients to reward them for loyalty, while others say it's fine and natural to increase fees for everyone.
If you raise your prices on existing clients by a big percentage, you may lose more clients than you want. I think 20% should be doable, particularly if you give them notice. e.g. "My fees are going up for new clients, but I'd like to give you three more months at the current rate before we increase your fees. How would that feel to you?"
* * *
TO SUBSCRIBE, and for fr'ee information packs on coaching, visit: http://www.solutionbox.com/freedownload.htm.
Please forward this newsletter to anyone you feel might make a great coach!
TO UNSUBSCRIBE, click www.solutionbox.com/unsubscribe.htm
VIEW PAST ISSUES online at:
I encourage you to share, replicate or forward this newsletter or article as long as the subscription, author links, and copyright information are kept intact.
Web site: www.solutionbox.com
© 2005 SolutionBox and Life Coaching Resource.com