Charge What You’re Worth

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5 Tips To Make More As A Coach

October 11, 2010 | Read 2 comments and join the discussion

Last year, the coaching industry magazine choice featured an issue devoted to “The M Word” — too discreet to even print the word in large type. Money is perhaps the most taboo topic, yet it’s in the back of every coach’s mind – how to make more of it, more easily and consistently.

For me, it boils down to this question – why do some coaches make more than others? I’m studying this right now, not only for myself, but also for coaches who seem to only get pro bono or trade clients. And for the coaches who continuously over-deliver, under-fill their business, place a low value on their services, and haven’t yet realized how the power of coaching grows when clients fully invest in themselves. It can be different for you, if you really want it to be.

Financial success in coaching

The Big Secret

The #1 reason why some coaches make more than others — they ask for it! That’s the big secret.

You’ve heard “the squeaky wheel gets the grease”. That applies here too. It’s not about being smarter – except for the fact that they are smart enough to ask. You don’t need more coaching skills and certifications. And it’s not about having more experience or being better at coaching and marketing. But you do have to believe in yourself enough to ask for more.

People who make a great living in coaching think strategically about money often enough to plan for it. They analyze their sales, and innovate ways to increase them. That doesn’t mean they are obsessed with the bottom line or less heartful than other coaches. In fact, some of the highest earning coaches are very spiritual in their approach to business, knowing that abundance means there’s enough for all.

What else do coaches who earn more know, that you can apply right now?

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Free or Barter Coaching – Should You Do It?

April 27, 2010 | Read 8 comments and join the discussion

For any coach at any time, but particularly when you’re just starting your business, you might be tempted to get a client by offering free or barter coaching. Should you? There are more reasons not to than you might think.

No fee coaching does have its place (see the last paragraph). But if your goal is to earn a successful living by offering soul-satisfying coaching, it’s usually counter-productive to give it away, except in a sample session. Here is why:

#1 Damaging the co-creative relationship

Coaches often have the heart of altruistic caregivers. If you love to help others and are generous to a fault, being a coach will give you many opportunities to learn balance around giving. This strength, when overused, comes with a high price to your integrity and to your clients.

I’ve been there. I understand that heart-tugging reaction to come to their rescue, when a prospect says they can’t afford your services but they so clearly need help. It’s a RED FLAG.

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Secrets of Six Figure Coaches

September 1, 2009 | Read 6 comments and join the discussion

Last week my Prosperity Inner Circle coaches gathered for their second business think tank retreat at the St Julien in Boulder, Colorado. No longer the only brilliant brain in their business, each of them were supported to take courageous mindset leaps while crafting well leveraged and fun tactical roadmaps for their success. Needless to say, I’m in awe of how they are becoming powerful CEOs of their own coaching businesses.

We’ve been studying Barbara Stanny’s book Secrets of Six Figure Women. (Don’t let the title fool you, this book is equally relevant to men.) Here are some of the big ideas we’ve drawn from the book that are key for all coaches heading towards six figures.
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Set Coaching Fees Using the Integrity Approach

July 1, 2009 | Read 2 comments and join the discussion

Because there are no industry standards, setting coaching fees can feel like taking a stab in the dark. Are your coaching fees setting you up for success?

You may think that lower fees will get more coaching clients. They don’t. In fact, lower fees create a perception of lower value. Remember all that you’re bringing to the table and use the Integrity Approach to set smart coaching fees. Take into account both business and intuitive sensibilities, to set fees that support your financial goals and attract more invested clients as well.

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Coaching Success – Charge What You’re Worth

February 16, 2009 | Read 3 comments and join the discussion

Sometimes, to get better results in your coaching business, all you really need is a mindset shift. So many life coaches make a less than stellar income, and their mantra: “How do I get more clients?” rolls around in their heads continuously. Eventually, that focus builds more scarcity than prosperity.

Some wise person said: “How we do anything is how we do everything.”

It’s true. And I say:
How we think about anything is how we experience everything.

When you set your coaching fees and tell prospects about them, give yourself the advantage of a powerful mindset as a solid foundation for your success.

Integrate these Four Power Concepts together to charge what you’re worth.

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Coaching Fees – From Fumbling to Finessing the Money Conversation

January 12, 2009 | Share your comment

Have you ever choked when it came time to tell a potential new client your coaching fees? It’s embarrassing. And it could be a factor in why they felt uncomfortable with your fees or didn’t hire you. But don’t worry. You can turn the tide on this problem with just a few shifts in your mindset and approach.

Fear about asking for coaching fees stems from learned beliefs about money and self worth that don’t serve us (or anyone else) even though they hold sway over decisions that involve money and how we value our time. As a coach and business owner, this is a grand opportunity to shift those outmoded beliefs and habits. And, charging what you’re worth allows your ideal clients to invest in your coaching services and to value themselves more highly.

If you want to increase your coaching income, start by learning how to have powerful and effective “money conversations” and begin dissolving scarcity issues related to money for good!

Use these three tips to go from fumbling to finessing the money conversation with coaching clients.
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