{"id":19962,"date":"2017-02-02T22:44:23","date_gmt":"2017-02-03T06:44:23","guid":{"rendered":"http:\/\/coachestrainingblog.com\/becomeacoach\/?p=19962"},"modified":"2019-04-10T08:31:25","modified_gmt":"2019-04-10T16:31:25","slug":"how-to-plan-your-life-coaching-fees","status":"publish","type":"post","link":"https:\/\/coachestrainingblog.com\/becomeacoach\/how-to-plan-your-life-coaching-fees\/","title":{"rendered":"How to Plan Your Life Coaching Fees: 3 Levels [VIDEO]"},"content":{"rendered":"<p>How do you Plan Your <strong>Life Coaching Fees<\/strong>?<\/p>\n<ul>\n<li>If you\u2019re starting out?<\/li>\n<li>If you\u2019re experienced and growing?<\/li>\n<li>or if you\u2019ve been coaching for decades?<\/li>\n<\/ul>\n<p>A new coach just asked me about what fees he should charge.<\/p>\n<p>In ten minutes, we totally broke it down to a SYSTEM that allowed him to get totally confident and comfortable with the EXACT FEE he should charge.<\/p>\n<p>It was such a groundbreaking conversation for him, that I decided to\u00a0share it with you in this video:<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/sivuexeJxfk?rel=0&amp;showinfo=0\" width=\"853\" height=\"480\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h3>Here&#8217;s the FULL TRANSCRIPT of the video:<\/h3>\n<p>00:00 How do you plan your life coaching fees if you\u2019re starting out, if you\u2019re experienced and growing or if you\u2019ve been coaching for decades?<\/p>\n<p>00:09 In this video, I\u2019m going to cover how to plan your life coaching fees and the three levels or dimensions of fees that you\u2019ll progress through.<\/p>\n<p>00:24 We\u2019ll also talk about<\/p>\n<ul>\n<li>how much to charge your first client<\/li>\n<li>how to determine your coaching fee dimension<\/li>\n<li>the one thing that\u2019s way more important than your coaching fee<\/li>\n<\/ul>\n<p>&#8230;so let\u2019s start right now.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https%3A\/\/api.soundcloud.com\/tracks\/313584620&amp;color=ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false\" width=\"100%\" height=\"166\" frameborder=\"no\" scrolling=\"no\"><\/iframe><\/p>\n<h3>How Much to Charge Your First Client<\/h3>\n<p>00:44 When you\u2019re getting your first couple of paying clients, the fee is not important. What\u2019s most important is \u2013 think of it this way, let\u2019s draw it in a picture. There are three different dimensions of fee levels in the coaching industry.<\/p>\n<h3>How to Determine Your Coaching Fee \u201cDimension\u201d<\/h3>\n<p><strong>Dimension ONE: \u00a0FREE<\/strong><\/p>\n<p>01:03 The first dimension is free, so it\u2019s free coaching. So this is a zero fee coaching.<\/p>\n<p>Now, your client does pay for this with<\/p>\n<ul>\n<li>their time<\/li>\n<li>their faith<\/li>\n<li>their risk of feeling stupid or that maybe this wasn\u2019t the right thing or putting themselves in your hands to some extent.<\/li>\n<\/ul>\n<p>They are still making investment. They\u2019re not just making a financial investment. Okay, so that\u2019s the first dimension, it\u2019s the free dimension.<\/p>\n<p><strong>Dimension TWO: \u00a0CHEAP<\/strong><\/p>\n<p>01:42 The second dimension is \u2013 I\u2019m just going to call this (and it\u2019s probably not the best term for it), but I\u2019m just going to call this \u2013 cheap. The second dimension is the cheap dimension of coaching fees.<\/p>\n<p>It\u2019s a <span style=\"text-decoration: underline;\">completely different dimension<\/span>.<\/p>\n<p>Make no mistake, if you\u2019re charging $25 a month for coaching with somebody and there\u2019s another coach and they look at you and they\u2019re like,<\/p>\n<blockquote><p>\u201cWhat are you, an idiot? Why are you charging so little? What\u2019s wrong with you? You don\u2019t value your services or something?\u201d<\/p><\/blockquote>\n<p>And you ask them,<\/p>\n<p>\u201cWell, how many paying clients do you have?\u201d<\/p>\n<p>(their answer) \u201cOh, I don\u2019t have any.\u201d<\/p>\n<p>02:26 You are in the second dimension. \u00a0They\u2019re on the first dimension.<\/p>\n<p>They\u2019re doing free coaching.<\/p>\n<p>You\u2019re doing cheap coaching.<\/p>\n<p><span style=\"text-decoration: underline;\">They are not in the same world. <\/span><\/p>\n<p>It\u2019s completely different universe. Just please don\u2019t forget that, okay?<\/p>\n<p>02:41 I mean, there\u2019s nothing wrong with free coaching. There\u2019s nothing wrong. It\u2019s not a good or bad, it\u2019s just the\u00a0first dimension.<\/p>\n<p>But as soon as you get paid, I don\u2019t care what amount it is, even if it\u2019s $1 or $25 or $100, whatever&#8230;<\/p>\n<p>I mean, you and your client decide what cheap is&#8230; that\u2019s a mindset. It\u2019s like what do they think is really &#8220;not that much [money]&#8221; and it\u2019s not a big deal and what do you think is very, very cheap and that you\u2019re very comfortable with\u00a0charging&#8230; and maybe it\u2019s too little!<\/p>\n<p>03:12 But&#8230;<\/p>\n<h3>Cheap Coaching is Not The Same as Free Coaching.<\/h3>\n<p>You\u2019re getting paid now, they\u2019re paying you and you\u2019ve got a whole different set of problems.\u00a0You\u2019ve got a different set of responsibilities.<\/p>\n<p>You had to negotiate the psychology of that transaction. Frankly, [free coaching] is\u00a0non-transactional. This [cheap coaching] is transactional&#8230; a very different world.<\/p>\n<p>03:31 So if you can make this leap&#8230;\u00a0If you\u2019ve been doing some free coaching and now you\u2019re going to charge for the first time and you charge $5 or whatever it is, it really doesn\u2019t matter. I mean, I just laugh because these are laughable numbers, but it doesn\u2019t matter.<\/p>\n<p>It doesn\u2019t matter what the amount is.<\/p>\n<p>03:51 When somebody in the 80\u2019s signed up for the Columbia Record Club and they paid a penny to get one record per\u00a0month or one CD a month or one tape a month from the recent Top 40 hits or something, with just\u00a0a\u00a0penny? It was a paid relationship. You\u2019re a paying customer in their mind and they had a billion dollar business they built by Columbia Records based upon that, just going from free to cheap.<\/p>\n<p>04:20 Now, they could just have given you free records or free tapes every month, but they wouldn\u2019t have any kind of business.<\/p>\n<p>So nobody can convince me that free and cheap are the same dimension because, I mean, one has no business at all and the other one could be a billion dollar enterprise. So don\u2019t forget that, it\u2019s so important. So that\u2019s the second dimension&#8230; cheap coaching.<\/p>\n<p><strong>Dimension THREE: \u00a0FAIR VALUE<\/strong><\/p>\n<p>04:41 The third dimension is &#8220;value&#8221; or &#8220;fair value&#8221;.\u00a0This is where you\u2019re truly charging the value of that service.\u00a0[You&#8217;re charging] the value of the results, the value that client is really putting their &#8220;all&#8221; into, the value of what\u2019s possible for them.<\/p>\n<p>05:02 It is also, by the way, a transactional relationship, so you\u2019re still making transaction. So this actually hasn\u2019t changed.<\/p>\n<p>[Going from &#8216;free&#8217; to &#8216;cheap&#8217;]\u00a0is a quantum leap, but [going from &#8216;cheap&#8217; to &#8216;fair value&#8217;], not so much.<\/p>\n<p>It\u2019s a different dimension, there\u2019s no doubt, going from $25 to $250 or a $100 to a $1,000 or $500 a month or something like that.<\/p>\n<p>05:25 I mean, these amounts, [are]\u00a0no joke. I mean, your butt is big time on the line here. It doesn\u2019t mean you have to guarantee anything. You could if you chose to, but it does mean that there\u2019s a lot at stake here. People really care about what they\u2019re getting for [a &#8216;fair value&#8217; fee], whereas $25 a month, yeah, it might not be that big of a deal for them. It matters more than free, but it\u2019s not that as big of a deal.<\/p>\n<p>05:47 So it\u2019s still a quantum leap. It\u2019s still a different universe that you\u2019re entering into in this [fair] value dimension&#8230; going from cheap to [fair] value. But, in some ways, it\u2019s kind of a next step beyond cheap.<\/p>\n<p>You can incrementally go $25 to $50 to $100 to $250, and eventually you\u2019re at your $5,000-a-month client or whatever it is, which some [coaches]\u00a0are charging. Some people are charging $10,000 a month for one client. So the way they got there probably was starting at cheap, and before that, they were probably at free.<\/p>\n<p>06:26 So these are the big quantum leaps that you make over time, but the biggest one that you want to make sure you get, and that I think you\u2019re talking about right now, Jesse, is going from free to cheap, so go ahead and do whatever that looks like for you.\u00a0And hell, if you could do something that you feel has value, then great. You can skip the second dimension and go right to the third dimension and make that leap.<\/p>\n<p>06:47 I do know coaches that do that, that have done that very, very quickly&#8230;\u00a0But a lot of coaches, including myself, when I think of my first paying client that I did outside of my work with Tony Robbins and the free relationships that I had, I think they were like paying me $50 a month, and that was just a series of coaching relationships at that time with the\u00a0skills I had at the time.<\/p>\n<p>As any coaching relationship I have now, I put just as much energy into those, but it was a transaction.<\/p>\n<p>It was very important because that was where my business education had begun.<\/p>\n<p>07:22 So those are the three dimensions of different fee levels and just know where you and where most of your clients are at and then what\u2019s next for you so you can make a comfortable incremental step to make the leap to the next dimension, if you choose to, and then you know if you\u2019re making progress or if you\u2019re just sitting where you are.<\/p>\n<p>It\u2019s totally okay to sit where you are, but at least be aware of it!<\/p>\n<p>08:22 In real life, we\u2019re trying to pay bills and take care of ourselves and anybody else that we support.<\/p>\n<p>We\u2019re going to get plenty of pressure without putting our own psychological pressure on about what this means and what numbers matter and whether that looks good or bad or whether that makes us a good coach or not.<\/p>\n<p>It\u2019s bullshit.<\/p>\n<p>I mean&#8230; let\u2019s not do that to ourselves.<\/p>\n<p>08:48 If we got to cover rent this month and you\u2019ve got to make $750&#8230;\u00a0If you\u2019ve got to get 14 to 15 clients at $50 this month in order to pay the rent and go out there and just talk to ten people a day, or you\u2019re going to talk to one person and get them to pay $750 for six months of coaching or even a month of coaching, I mean, what difference does it make?<\/p>\n<p>You pay the rent.<\/p>\n<p>You did it.<\/p>\n<p>Congratulations, you won, you won that game.<\/p>\n<p>09:23 And if you don\u2019t have to play that game this month because there is no rent to pay or that\u2019s covered in some other income source for you&#8230;\u00a0It\u2019s like, man, I mean, you count yourself lucky and then go play this game, see what\u2019s possible for you.<\/p>\n<p>09:37 Because once you can play this game&#8230;<\/p>\n<p>Let\u2019s do some math here.\u00a0Let\u2019s say you just get to cheap coaching and let\u2019s say, I mean, you\u2019re working every day and you\u2019re talking with two to three people a day, at least three or four days a week. You\u2019re setting a couple or two or four sessions a week, so you\u2019re getting free sessions in and you\u2019re signing up these people for very cheap coaching, and let\u2019s say that cheap coaching is $100 a month.<\/p>\n<p>10:06 It\u2019s fairly cheap, and especially if you\u2019re doing weekly sessions or twice a month or something like that.<\/p>\n<p>We\u2019re talking about $50 an hour or something like that.<\/p>\n<p>You sign up five clients, now you\u2019re at $500 a month in income.<\/p>\n<p>Now, five clients, even if you coach them every single week\u00a0(you\u2019re working one day a week for that, so you\u2019re not even quite a part-time job)&#8230; you\u2019re working one day a week and you\u2019ve got $500 a month in income, and people will come and go, but that\u2019s not bad for talking on the phone once a week in the privacy of your home.<\/p>\n<h3>Thinking of Life Coaching Fees From an Hourly Perspective<\/h3>\n<p>10:47 We could think about that from an hourly perspective.<\/p>\n<p>Let\u2019s say you want to start with cheap coaching and you\u2019re going to say, \u201cI\u2019m going to charge $50 an hour.\u201d It\u2019s probably as low as most coaches will ever charge for their services.<\/p>\n<p>If you have enough contacts and you\u2019re decent enough coach, even without any real serious salesmanship, you should be able to get a decent amount of clients ongoingly at $50 an hour\u00a0(whatever amount of coaching you\u2019re offering them per month).<\/p>\n<p>11:15 So let\u2019s say you\u2019re just charging $50 an hour and you get a bunch of people you\u2019re working with and talking to and so you end up working, again, one day a week&#8230;<\/p>\n<p>So it\u2019s an eight hour a day times four, let\u2019s say four weeks out of a month&#8230;<\/p>\n<p>You\u2019re making $1600 a month.<\/p>\n<p>That\u2019s a bit of a part-time income all of a sudden. That\u2019s on $50 an hour coaching.<\/p>\n<p>11:45 So our coaches on our team, they\u2019ll charge anywhere between $100 and $200 an hour. (and there are times when they&#8217;ll\u00a0do coaching for less than that).<\/p>\n<p>If it\u2019s a gigantic amount of coaching, like we have 30 clients in one piece of work, we\u2019ll do something like under a $100 an hour for like enterprise coaching client (with a bunch of managers to coach or something like that).<\/p>\n<p>12:19 But you could consider this kind of in the minimum range, but with that, I mean, you could pay bills with that. You can partly live on that as well. And again, that\u2019s one day a week.<\/p>\n<p>You coach two days a week, then just double that.<\/p>\n<p>12:41 Now, that\u2019s a local waitering job on the evenings right there, working two days a week.<\/p>\n<p>That gives you five days a week to build your business while you pay bills, but that\u2019s not bad.<\/p>\n<p>It\u2019s not a bad start.<\/p>\n<h3>The One Thing That\u2019s WAY More Important Than Your Coaching Fee<\/h3>\n<p>13:00 So this is not as much about needing to get to a certain fee level as it is <span style=\"text-decoration: underline;\">needing to have power with people enough that they want to coach with you<\/span>.<\/p>\n<p>If you can go out today, talk to ten people and have a couple of them want to coach with you, <span style=\"text-decoration: underline;\">you win<\/span>.<\/p>\n<p>The money is going to work out.<\/p>\n<p>It\u2019s going to work out!<\/p>\n<p>You don\u2019t have to worry about the money, <span style=\"text-decoration: underline;\">it\u2019s going to work out<\/span>.<\/p>\n<p>13:28 But if you can\u2019t get people to want to coach with you&#8230;<\/p>\n<p>if that\u2019s over your head<\/p>\n<p>&#8230;if that\u2019s beyond you<\/p>\n<p>&#8230;if that\u2019s something you\u2019re not willing to put the time into<\/p>\n<p>&#8230;if you don\u2019t have any energy for that<\/p>\n<p>&#8230;if you don\u2019t have the confidence for that\u00a0(it holds you back)&#8230;<\/p>\n<p>Until you break through whatever is standing in your way of that, <span style=\"text-decoration: underline;\">there is no possibility of success<\/span>.<\/p>\n<p><span style=\"text-decoration: underline;\">That<\/span> is real, that\u2019s what is <span style=\"text-decoration: underline;\">priceless<\/span> and <span style=\"text-decoration: underline;\">not some fee level<\/span>.<\/p>\n<p>13:53 If you really want to get to a reasonable fee level and you\u2019re talking $100 an hour times two days a week, now that would be a coaching income that a lot of coaches are able to generate and able to charge in that $100 an hour range.<\/p>\n<p>Sometimes they\u2019ll charge more, sometimes they\u2019ll charge less.<\/p>\n<p>It just really depends on the situation. There are other things that you could charge for as well.<\/p>\n<p>14:20 So the numbers really work great.<\/p>\n<p>Coaching is a <span style=\"text-decoration: underline;\">cash strategy<\/span> that generates <span style=\"text-decoration: underline;\">massive amounts of cash<\/span> once you set the stage for that.<\/p>\n<p>Once you got the skills, once you are able to generate the sense of trust, credibility and leadership from others that they want you to lead them in some way that they value, that\u2019s the game that is most important to play&#8230;<\/p>\n<p>&#8230;and then the money is just a measure of that.<\/p>\n<p>It\u2019s part of the measure of that process.<\/p>\n<p>14:54 It\u2019s important to get off of the money being the focal point of our limitations and get\u00a0into<\/p>\n<ul>\n<li>who we are<\/li>\n<li>our leadership<\/li>\n<li>our skills with people<\/li>\n<li>our willingness to work and put forth energy to make something happen.<\/li>\n<\/ul>\n<p>There\u2019s enough energy, enough work, enough willingness to break through the things that most people don\u2019t, and can\u2019t, and won\u2019t break through&#8230;<\/p>\n<p>You\u2019re going to get paid for <span style=\"text-decoration: underline;\">that<\/span> eventually because that\u2019s so valuable and so rare.<\/p>\n<h3>What&#8217;s Your Coaching Fee Level?<\/h3>\n<p>15:23 So once again, this is Jeffrey Sooey with CoachesTrainingBlog.com. I hope that you took some great value out of this video today.<\/p>\n<p>What\u2019s your current coaching fee dimension?<\/p>\n<p>Are you mostly free or are you charging a fair value?<\/p>\n<p>What\u2019s your plan for progress to whatever coaching fee level is next for you?<\/p>\n<p>What did\u00a0I miss? Is there anything else that would help you plan out your coaching program fees? \u00a0Any level that I didn&#8217;t address?<\/p>\n<p>I\u2019d love to hear your feedback so make sure that you leave a comment with your thoughts or questions.<\/p>\n<p>By the way, you can learn a lot more about setting and raising your life coaching fees\u00a0(as well as more advanced coaching business\u00a0tactics) by grabbing your own free step-by-step 30 days to become a coach video toolkit. Just go <a href=\"http:\/\/www.coachestrainingblog.com\/sp.php?adsource=blogtext\"><strong>HERE<\/strong><\/a>\u00a0right now to get your 30-day coaching blueprint videos. You\u2019ll learn how to change your client\u2019s life in 45 minutes, other advanced coaching and practice building techniques, and more.<\/p>\n<p><a href=\"https:\/\/coachestrainingblog.com\/becomeacoach\/bio\/jeffrey-t-sooey\/\" target=\"_blank\" rel=\"noopener noreferrer\"><b>Jeffrey T. Sooey<\/b><\/a><br \/>\nCEO, JTS Advisors<br \/>\nFounder, Coaches Training Blog community<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How do you Plan Your Life Coaching Fees? If you\u2019re starting out? If you\u2019re experienced and growing? or if you\u2019ve been coaching for decades? A new coach just asked me about what fees he should charge. In ten minutes, we totally broke it down to a SYSTEM that allowed him to get totally confident and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[195,312],"tags":[984,1191],"class_list":["post-19962","post","type-post","status-publish","format-standard","has-post-thumbnail","category-life-coaching-business","category-life-coaching-fees","tag-life-coaching-business","tag-life-coaching-fees","entry"],"jetpack_featured_media_url":"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-content\/uploads\/2019\/02\/What\u2019s-the-Average-Salary-for-a-Life-Coach-Copyright-kritchanut-.jpg","_links":{"self":[{"href":"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-json\/wp\/v2\/posts\/19962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-json\/wp\/v2\/comments?post=19962"}],"version-history":[{"count":5,"href":"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-json\/wp\/v2\/posts\/19962\/revisions"}],"predecessor-version":[{"id":22429,"href":"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-json\/wp\/v2\/posts\/19962\/revisions\/22429"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-json\/wp\/v2\/media\/22158"}],"wp:attachment":[{"href":"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-json\/wp\/v2\/media?parent=19962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-json\/wp\/v2\/categories?post=19962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-json\/wp\/v2\/tags?post=19962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}