Here are some tips for boosting your life and business coaching fees to ensure that you have a profitable coaching business.
Do your research Find out what other successful coaches are charging. Pay particular attention to their target markets, pricing models, their qualifications, how they package up their services how they market themselves.
Invest in your development as a coach If you are excellent at what you do then you will get business through referrals, you will be in more demand so you will be able to charge more.
Ensure your clients can pay enough It can be very tempting to coach people who you think most need it but be sure that you can earn an income from it. For example personal clients with no income are less likely to earn you good money than corporate clients with a large budget for developing their employees. You may want to coach clients who can offer you higher earning potential to cover the costs of clients which satisfy a need to help society.
Create coaching packages By packaging up your coaching effectively you have the potential to increase your life and business coaching fees. For example instead of charging ‘per session,’ charge ‘per month’ or for a programme over say 3 or 6 months. For the duration you are their coach to whom they can turn for support and accountability and may include follow up emails, texts and telephone support. Think also how you can add value in this time – perhaps you can send them useful articles to read, introduce them to useful contacts or invite them to events you attend.
Sell the benefits Do you help people lose weight, get more sales, increase motivation, reduce stress, save money or improve relationships? The key to maximising your coaching fees is being able to really clearly define and then effectively sell the benefits of what you do. The higher the value you can place on your services the higher the fees you can charge.
Access government grants Sometimes grants are made available to help certain sectors of society whether it is owners of start up businesses, the unemployed or women in business.
