by BobTheTeacher · Filed Under: Article Marketing · Bob The Teacher Training · Business Blogging · Business Building · Coaching Business Strategies
If you’re a coach struggling to generate enough income to live comfortably and stress-free, then you’re probably making one or more of these (unfortunately) common mistakes.
Coaching Income Killer #1 – Charging clients by the hour
The biggest mistakes coaches make is pricing their services in terms of hours or sessions. This turns you into a commodity, and downplays the transformation you provide for your clients.
Instead of charging by the hour or session, create packages that are priced based on the potential results. Include additional resources in your clients’ investment so the value per hour can not be calculated. Even if you offer just a single strategy session, emphasize the particular purpose of that strategy session as the reason for the price – and avoid putting it in hourly terms.
Coaching Income Killer #2 – Not charging enough for what you do
I’ve seen the training that the major coaching certification programs provide, and when it comes to pricing your services, they literally sell you short.
The result is you are likely under-valuing your services and not charging enough. Look at your current pricing model. If you had 20 clients paying you what you currently earn, would you still be earning a relatively menial salary?
The reality is when you under-price your services, you’re also selling out on your clients in an attempt to be “nice”. As a coach, you know that commitment comes with a stretch.
Raise your prices immediately by at least 25%. And then for every 3 new clients you get, raise your prices again by 25%.
Coaching Income Killer #3 – Only Working 1-on-1
Most coaching models will have you working privately with your clients. And that’s great but obviously presents a capacity problem when growing your business.
There are only so many clients you can help in a day, and only so far you’ll be able to increase your prices.
Instead of working only with private clients, deliver a group coaching program, too. Even if you coach people in the most sensitive of topics, they’ll appreciate knowing they’re not alone. Meanwhile, you can work with more people during the same amount of time, and typically earn 2 – 10 times more for the time.
Don’t fall victim to these coaching income killers. Go to CoachingIncomeSecrets.com now to discover more ways to turn your amazing ability to transform other people’s lives (in life, business, fitness, finances, health, or relationships, etc.) into a wildly successful and profitable business!