"If I raise my rates then I won't get any new clients." That's the internal dialogue that most coaches have when it comes to their pricing. And it's simply not true. In fact, there's a way to raise your rates that both challenges you to become a better coach and helps you attract more high-quality clients. But I want to warn you...even though this process is simple, it's not for the faint of heart. Still want to double your rates? Keep reading and I'll lay it all out for you...
In your quest to succeed as a coach, it's easy to fail as a human being. This is a common trap for full-time coaches to fall into. They make the leap because they want the freedom of running their own business...and instead their business ends up running them. Some coaches don’t realize this until it’s too late. They wake up one day tired, unfulfilled, and trapped in a constant state of anxiety. And they don't have the energy left to do anything about it. I don't want this to happen to you.
Nothing kills your confidence, your enthusiasm, or your business faster than bad-fit clients. Why? Because your coaching is built on relationships. You aren't out to build a course with hundreds of people in it. This means that when you take on a client, you are giving that person a part of your life...And the quality of your life is determined largely by who you spend it with...So you need to be picky.
If I could turn back the clock on my coaching business, there’s one thing I would do differently… I wouldn’t try to reinvent the wheel so much. For some reason I’m always tempted to innovate right off the bat when I’m new to something. And then I look around at people who are less talented than me and wonder why they they are making faster progress. Well, the reason is because they did what they were told!
Are you having trouble figuring out your coaching niche? If so, you've probably already heard that getting specific about who you serve helps make your marketing more compelling. "Market to everyone, reach no one." That sort of thing. You understand it logically. But there's a problem: you're scared that if you narrow in and focus your marketing on one group of people, you'll never get enough clients. You don't want to pick wrong.