“Charge what you are worth” has become a very commonly used phrase among business coaches. (it’s so cliche…)
Here is the thing. The money people pay you has NOTHING to do with your self-worth.
In fact, if you tie how much your clients are paying you to the idea of “what you are worth”, you are releasing control of your self-worth into the hands of others (who may or may not pay you due to factors you cannot control, including their own dysfunction) – not recommended.
Instead, charge what your products and services are worth to your clients. Don’t think about how many sessions (number of coaching hours) are in your program. Think about the value of the transformation your clients are getting. This is the key to getting out of the hour-for-dollar model.
Another thing you want to know about pricing. When you state the investment for your program, you have to be completely aligned, totally confident. If you cannot be confident when stating your price, how can your potential clients be convinced that they are getting more value than they are paying for?
Here is a simple exercise I take my clients through when they hit a block on “asking for money”:
If you have worked with clients and achieved amazing results, write down all the outcomes that someone will get when she works with you. Then put a dollar amount next to each – how much money would your clients save per year? (e.g. $800 on Starbucks latte, $500 on prescription drugs, $600 on fad diets and supplements, $1,000 on sick days)
Tally that up – that is just the “tangible” value you are bringing to the table. What about more balanced emotions? Less stress?
Now compare that to your program pricing… are you delivering more value than you charge? I bet the answer is yes.
Do you feel more confident asking for that amount now? I hope the answer is yes.