How Much Should You Charge for Your Services?
All of my clients come to me with the $ question. How much should I charge?
A Recent Harvard Business Review report noted coaching fees range from around 100 bucks to over 3K for a session. That’s quite a range. How do you figure out your sweet spot-the place your clients are willing to pay for your services? Ah, this is not a simple question, nor a simply answered question. But here’s what I know:
• You can’t charge more than you can comfortably ask because your discomfort will show through and hurt your credibility
• Your mindset influences your ability to set fees, therefore, as your confidence grows, so will your fees
• You have to determine if you’re a commodity service or a professional service: we bargain for commodities, we respect professionals
• Consider Packaging your Services: Many in private practice charge by the hours per month. But that’s not the only way to make a living
• Develop different income streams to increase your revenues
• Pay attention to your ‘league’. Are you in the majors, minors or varsity league? Plan out what it will take to move up, if you want to.
• Align yourself with bigger league players and practice, practice, practice. Even if you’re on the bench for a while, you’re hanging with the home run set and that increases your credibility.
• Work your skills and talents: All you do should be based on, please, your unique abilities, not other people’s pre-written seminars or models. It’s very difficult to be credible as a trainer IF you haven’t developed your own materials.
• Develop your unique skills: Coaching and training models can and should be adapted to suit the needs of your clients and the strengths you bring to the work. Your creative adaptations will make you uniquely qualified to serve your clients and charge your worth
Focus on the Cornerstones of Confidence
Trust Yourself
Learn About Yourself
Build Emotional Support for Yourself
Focus on Your Productivity
For a complete report on the Cornerstones of Confidence click here: http://www.salterva.com/kathleen/JVGiftCornerstones.html
