Building your business isn’t just about making money. It’s about becoming better at what you do because becoming better means being of greater service to your clients.
The coach or healer who charges $50/hour for a single session is operating on a different level than the coach or healer who is charging $5,000 for three months-worth of sessions. When it comes time to raise your prices, stepping into the knowledge of who you are and what you have to offer is key.
Know What You’re Offering
There are plenty of business coaches out there who will tell you to just raise your prices. But it’s not that simple. You have to understand exactly what it is that you’re offering.
Take a look at the tools and materials you’ve developed and ask yourself if there’s an area where you might be able to add value.
This doesn’t mean throwing everything you can think of at the client and drowning them in information. That’s not serving them. That behavior only serves your own fears of not being enough.
Some clients may need more and some may need less. Understanding each client’s specific needs or particular set of circumstances will help.
Make the Commitment Now
I heard a story once about a group of boys who are trying to get somewhere. Along the way, they come across a high wall and decide it will be impossible to climb over it. Finally, one of the boys tosses his hat over the wall and they realize they’ve got no choice but to try: they have to get his hat back!
Maybe you’re not the $5,000 coach yet, but make the commitment to becoming that person. Find some way to toss your hat over the wall.
I did this when I hired my first coach. I knew I’d have to get serious about my business in order to recoup my investment. Keeping that dollar figure in mind was a great way to hold myself accountable!
It’s important to know that this wasn’t about scaring myself. It wasn’t about feeling guilt or shame about investing the money in my business and myself. I was simply reminding myself of the moment when I’d believed in myself enough to say “Yes!” to getting help and growing. It allowed me to reconnect with my intention and my passion.
If you can’t make that commitment to yourself, then how do you plan to talk to a client who’s ambivalent about committing to their own process?
Having the Conversation
When you talk price with clients, your job is to explain what you do in a way that helps people understand how you can help them. During that conversation, you’re actually exemplifying what it is to stand in your own power. To honor yourself and what you’ve created.
You’re illustrating the level of clarity that your clients might achieve by working with you.
In addition, when you stand in your higher price with clarity and confidence, you call your clients up to that number. You give them the opportunity and support to claim more for themselves by investing in themselves at a higher level.
You help them see a greater potential for themselves than they saw before. If they are ready, they’ll say yes. And even if they’re not, they can be changed by the fact that YOU see that possibility for them.
Work with The Fear, Not Against It
You may be nervous the first few times you state new pricing to a client or potential client. And that’s OK. The discomfort is just going to be there for a bit. As I’ve said in the past, being uncomfortable doesn’t mean what you’re doing is wrong, it just means it’s new.
Whenever you take a step forward like this, old fears are going to pop up. Think of those old fears sort of like that warm, fuzzy coat you loved when you were eight. Back then it felt comforting and protective. If you were to put it on now, it would probably feel tight or restrictive.
That doesn’t mean there was anything wrong with it when you were little — it served a purpose — but you’ve long since outgrown it.
Your old fears are no longer a good fit for where you are in life. So take the coat off and be comfortable with the size you are today.
Sometimes just acknowledging the fear is enough. Sometimes we need help from another person to release it. What are some old fears that continue to come up for you? Leave a comment below, and click HERE to set up a session with me and find out how I can help you move past fear blocks that are stopping you.
Very simple but elegantly worded. Your voice and words are clear about the message you are conveying. You have definitely matured in your work.
Thank you, Patricia! I really appreciate your feedback and insights.
(Sorry, a glitch in the system means I just saw this.)