Find What the Client is Comfortable Paying
The following is an excerpt from the CoachStart Manual.
So how do we marry the first two principles? How do we take on as many clients as possible, yet value our services, and get as much revenue as possible?
Simple: Ask the client what they’re happy to pay!
Consider the following role play I might do with a new coach playing the part of a prospective client:
Scenario 1
Client: “How much do you charge?”
Coach: “I charge $300 per month.”
Client: “Well OK – how do we get started?”
Scenario 2
Client: “How much do you charge?”
Coach: “I charge $300 per month.”
Client: “Hmmmm….well I don’t think I can afford that right now, but I appreciate your time.”
Coach: “Well let me ask you, IF price wasn’t an issue for you, would you be interested in working with me on this issue for 2-3 months?”
Client: “Hmmmm… yes – IF price wasn’t an issue, I suppose I would.”
Coach: “OK – since I’m still building my practice, and I want to coach you, I’m happy to make an investment in this. In fact, right now, the money isn’t that important to me. So tell me, what would you feel comfortable paying?”
Client: “Well I suppose $150 would be OK.”
Coach: “Great, if you’re willing to commit to working with me for 3 months on this, I’m willing to take you on at 50% of my fee for that time. At the end of that period, we can revisit it.”
See how it works?