When Prospects Baulk at Your Coaching Fees

What does it mean when prospects baulk at your coaching fees? Perhaps they say they know your fees are fair, but they just don’t have the cash right now – surely you understand. Maybe they are overcome with a coughing spell, excuse themselves and never return. Or they just burst into laughter and say you must be kidding. Fine. But what does it really mean? Coaching Is not a Commodity The fact is that if anything is not a commodity, it is coaching. Standards and credentials are still not well … [Read more...]

Coaching Fees – Charging More for Shorter Engagements

It might seem reasonable for shorter coaching engagements to result in lower total coaching fees. But you need to remember that your clients hire you to help them to achieve breakthroughs and results. If you agree to coach a client to achieve certain goals in, say, three months that would normally take six months to achieve, it will require much more commitment and much more effort on their part and yours to achieve the goal in the shorter time period, and the client needs to compensate you … [Read more...]

Coaching Fees: Justifying Fees with Intangibles

Setting and justifying coaching fees for business coaching can be much simpler than for personal coaching. In business, people are used to justifying decisions using return on investment calculations based on numbers from accounting. In our personal lives, many decisions are made by default, driven by emotions and often “against our better judgment.” But you can still justify your coaching fees based on intangibles. Here’s how. The Cost of Pain and the Benefits of Pleasure Every decision that … [Read more...]

Coaching Fees: Justifying Your Fees Based on Return on Investment

Sometimes prospective clients pushback on your coaching fees because they are not clear what value they can expect to receive for their investment in your coaching. So it is important, particularly in business coaching, to know how to quantify the return on investment (ROI) that your client can expect. Quantify the Benefits Your Client Can Expect from Coaching In general, the coach’s role is to help their clients improve some aspect of their lives. This can be the client’s professional … [Read more...]

Coaching Fees: The Easiest Way to Go Broke in Coaching!

When figuring coaching fees, it is easy to think that price is the basis your prospective client uses in selecting you as their coach. If the prospect pushes back and says “your fees are too high” it is tempting to just lower your proposed fees to get the engagement. Don’t do it. Don’t think of your coaching as a commodity. That is the easiest way to go broke in coaching. What’s a Commodity, and Why You Don’t Want to Be One Webster’s defines a commodity as “a good or service whose wide … [Read more...]

Coaching Fees: What People Find Priceless In Coaching

  A lot of coaches wonder what they have to do to get people to pay their coaching fees. Coaching is not a tangible commodity. In fact, one of my friends and mentors says we are in the business of selling, “Unicorns and Rainbows.” Personally, it’s hard to imagine anyone paying fees for a dream. But they will if they believe the coaching they receive will turn their dreams into a reality. Paying Coaching Fees Doesn’t Guarantee Results This is often the most difficult part of the … [Read more...]

Life Coaching Business: Use Benefits to Get Your Client Excited About Paying Your Coaching Fees

In your life coaching business, use benefits to get your potential client excited to pay your coaching fees. Many coaches, when building their life coaching business, think they are already doing that. Are they? More often than not, most do not use the benefits effectively enough. This is a very important skill. Why? So you can command the coaching fees you deserve in your life coaching business. How To Get Your Client To Pay Your Coaching Fees: Use The Benefits Of Your Life Coaching Business … [Read more...]