Judy Feld on Start Up Costs
The following is taken from David’s interview with Judy Feld in 10 Super Coaches.
What did you spend money on in the first 6-12 months? Could it be done for less?
Had the computer. Developed the website myself. Increased phone bill – that’s about it. Office supplies. Also… business cards and stationary. I don’t think it could have been done for less. My time and attention were the valuable commodities.
What did you charge your initial clients?
I think I began at $250 USD per month (in 1995) for three 30-minute telephone sessions. I always have offered a menu of options.
When did you first increase your fee, to what did you increase it, and why?
I have increased my fees about once a year. Supply and demand and expertise.
What advice would you give coaches about charging clients?
Offer a menu of options. People usually opt for the choice in the middle. Be consistent in your pricing. Don’t raise your fees on existing clients. Loyalty and longevity counts. I have clients I have been working with since 1996. We are partners.