I had just graduated NLP practitioner training.
I had no job, no clients, and bills to pay.
My trainer at the time suggested that charging $1,000 per month was reasonable for a quality coach.
As a newbie getting started I didn’t feel that I was worth that amount, not even close.
Then i discovered that that one particular coach had blogged about how he built a thriving business with putting out a “pay what you want” offer when he started.
So I gave it a go.
One month. 4 sessions. Pay what you can. 10 spots only.
I learnt something powerful about value and pricing during that experience.
Firstly, the market will dictate what your product or service is worth.
I got 8 paying clients, and on average they were paying $200 for 4 x 1hr career coaching sessions.
Some paid more, some paid less.
In hindsight it was a good test but if I were to do it again I’d tweak a few things:
– Help the client map out a clear roadmap of how we’d work together beyond the first month, and tie it to a specific outcome they’re wanting to achieve.
– Be much more specific with who to accept, and who you’d ideally be able to help get a remarkable result
– Implement a feedback and referral system to systematically request testimonials and referrals from everyone you work with. (This puts YOUR focus on doing great work)
– Mindset and removing limiting beliefs is helpful, but often the best results will come from helping your clients implement faster.
I’m now getting paid more than $1k per month to help clients implement marketing systems that frees up their time and allows them to focus on their core strengths.
It’s done for you, not DIY.
This is the first step. The next step will be to build scalability into the business and I’ve got a plan for that.
So if you’re wondering why your coaching or online course business is struggling ask yourself:
Have I got the right clients and how can I better help them to execute faster?