Pricing Your Service

pricing

The truth is, this is one of the hardest topics for me to share in written form and so much easier for me to share with my voice, especially because of the complexities and nuances of pricing YOUR signature offer… While I believe the following written pricing strategies will be helpful, I firmly encourage you to listen to my podcast episode on this topic or (even better) to join our 4 day challenge about business design for only $7.

Let's break down this complex topic into actionable steps and insights that will empower you to set fair prices and create valuable offerings for your clients.

First, let's cover the basics. Pricing your offer can sometimes lead to panic (literally).

So, the first step starts with UNDERSTANDING YOUR JOURNEY

Challenging Perceptions: Pricing can feel complex, overwhelming, or even intimidating, especially when transitioning from free mentorship to a coaching business.
Healing Old Stories: Money and our relationship with giving and receiving can hold us back. It's important to address any resistance or negative beliefs around earning money and charging for our services.
The Power of Giving: Tithing and giving generously can transform our mindset around money and abundance. It aligns with biblical principles of giving our first and best, leading to overflowing blessings.

Now, if you are just starting to price your offer, here are some key elements that could be helpful to avoid panic:

Designing Your Signature Offer:

Program Components: Consider a holistic program that combines one-on-one coaching, group calls, live events, and community support.
Program Duration: Opt for 6-12 month programs for deep transformation and consistent results.
Frequency and Value: Determine the value of each component (e.g., coaching calls, group sessions, live events) to calculate the total program value.

Pricing Strategies:

Fair Market Value: The market value for one-on-one coaching calls typically ranges from $200 to $1,000 per session. Group calls are valued between $50 and $250 per session.
Value-Based Pricing: Align your prices with the value you provide and the outcomes your clients can achieve.
Payment Options: Offer payment plans, but prioritize annual or paid-in-full options for stability and commitment.
Transparent Pricing: Avoid pricing tricks (e.g., $9,997 instead of $10,000) if it doesn't align with your integrity and transparency values.

Moving Forward…

If you're navigating pricing for the first time or need guidance, don't hesitate to reach out. We're here to support you in your pricing journey, so feel free to ask questions and join our community to explore spaces with more experienced coaches who can help make your path clearer.

I’m sharing because when I started my coaching business, no one told me that pricing your offer can feel fun, exciting, and filled with integrity, especially if you’re creating a win-win offer for you and your clients at a fair price point.

Wishing you clarity and confidence as you define your pricing strategies!