When it comes to pricing your program, using your worth as a baseline invites us to add lots of zeros, yet saying that number out loud and believing that people will pay it becomes mind-boggling - so you don't end up making any invitations into your program.
It contributes to the swirl that makes you feel unsure about your pricing.
And... you are PRICELESS!
So why are we using your "worth" as a pricing tool?
Seems misguided to me.
Here's what I suggest doing instead.
1. Detach your price from YOUR worth. The investment in your program is more about the results you guide people to when they come to work with you. It's not about your worthiness.
Here's an example from one of my private life-coaching clients:
- Someone at work was negatively impacting their performance and turned out to be an adult bully. Together we worked on what she does have control over and how to set boundaries within the workspace so that she could show up and be her authentic self without letting this person take over her energy. These boundaries helped her stay true to her personal values and over time gain the confidence to speak up about the situation to her boss. She is now stepping into her role as a leader at work and paving the wave for a safer work environment for all of her co-workers.
- Our coaching program was $3500.The value she received from this program will continue to support her career and her personal relationships for the reset of the life... AND she might just get that bonus because she's no longer afraid to advocate for herself!
- I COULD HAVE priced this program at $35,000 and would still be worth the results... but that number felt too inconceivable to me.
- Instead, we got to work, she felt the transformation and this person has now become an on-going coaching client.
In my opinion, this is more powerful and valuable than me waiting until I felt READY to offer a $35,000 program.
2. Get started, increase quickly. If you're still not sure where to start with pricing your program, an average coaching session starts at around $200/per hour. If you have two sessions a month, plus charging a little bit more for the support you will be offering in-between sessions, let's call it $500 a month. This is just a baseline to get you started.
If your income goals invite you to charge more, get yourself started and increase your rate quickly with each new client. Your practice will grow quicker if you're coaching and gaining experience charging $500 a month than it will if you're waiting to charge $5000.
3. Know the numbers: When you're pricing is grounded in what it actually costs to delivery your program, you can share the investment from a grounded, confident place rather than picking a number out of thin air!
That means feeling more authentic on sales calls when you go to share the investment!
Here are a few prompts to figure what your program costs:
What is the percentage you will have to put aside in taxes?
Do you send a welcome gift?
How much does that cost?
Will you be spending any time outside the coaching calls? Factor that in too.
Example: $200 at 25% tax rate + 3% in credit card fees = 28%, which is $56. If we add that to $200, that's $256.
Two sessions per month, is $512.
Add a bit extra for time in-between (which in my experience has been minimal with private clients unless I'm delivering a service like copy or sales page editing.)
Program Price: Somewhere between $557-$597 a month would be a good starting place.
Conclusion: Knowing your numbers helps you stay in integrity and grounded with your intention for why the number is what it is! And that, makes inviting aligned clients into your program much easier!
Now, I'd love to know... what number did you come up with? Reply to this email and let me know!
With love and so much gratitude,
P.S. What do YOU think about charging your worth? Come send me a DM on Instagram or reply to this email!