I know too many super talented small business service-based professionals (Coaches, Therapists, Counsellors, Mentors) who struggle to make enough money, who are extremely passionate about what they do and work really hard and yet are completely undercharging for the amazing services they provide, so I’ve decided to take action and have put together some tips to help you start to charge what you’re really worth.
Most businesses are crowded together at the bottom of the pricing ladder in this industry, However I firmly believe that setting low fees, to fit in with others in your industry, or to make you ‘competitive’, actually tells your clients that you don’t value yourself.
Here are my 4 Keys to Charging What You’re Worth:-
1. Eliminate Self-Doubt – what results do your clients really get ?
Shift your focus away from questioning what you should charge, and instead focus on the value of the transformation you create for others.
Think of a client who you work with and who is EXACTLY who you want to work with, your absolute ideal client.
You feel great when you are working with them, they are happily implementing your suggested strategies and are raving fans because of their results.
Using the attached sheets for these exercises:- Download PDF here
What specific features do your clients get from working with you and your services ?
What benefits / results do your clients receive from working with you as a result of those features ?
2. Discover Your Impact Circle
Now a client isn’t an empty shell, they have their own world that stems from them, their environment and their beliefs and experiences and it goes across many domains….I want you to start to think in terms of what results they get in every aspect of their lives (actual results, how their financial situation is impacted, their health and well-being, their family / relationships and their future / potential.
This is the exact impact you have on them….again use the attached question sheets to get you started in completing the Discover Your Impact Circle sheet.
3. Uncover Your Cost Circle
Now we have discovered all of the positive ways your clients are benefitting from your services / product / programs and we now want to uncover the COST to them of NOT working with you.
So use the Uncover your Cost Circle sheet to determine the costs to them of not engaging with you.
4. Set Your Fees Based on the Value you provide NOT the time you spend with them.
Your value is perceived by your clients, Pricing is perceived by you.
Now putting together the benefits you provide your clients, the impact you have on them and flow-on effect on their entire lives and the actual cost to them of NOT working with you, look at the reality of how much you should really be charging.
You know that the service you provide is of the highest quality, that what you have to offer is super valuable to your clients and the community as a whole, and you always deliver to a standard of excellence.
So now set your fees with confidence knowing that you deserve to stand out from the crowd, what you offer is unique and your clients need you to assist them in their transformation.
And now go ahead and put it all together into an empowered statement that you can easily and effortlessly articulate to your clients and repeat to yourself regularly to ensure you believe in your true worth.
“ The (feature) I offer results in (benefits / results), which impacts my clients by (list 1 or 2 of the finances / money, or health / well-being results etc) and without my help, what’s at stake for my client is (list one or two costs to your clients).”
I look forward to seeing you raising your fees and charging what you’re worth.
Dr Nat X