Do money conversations make you uncomfortable?
For most of my clients, this is a growing edge for them and it can really effect how they show up when it’s time to talk about your packages and how much they cost.
Many coaches artificially keep their pricing low because they do not know how to effectively communicate the huge value their coaching could bring to their prospect and, therefore, they can’t charge the premium they deserve (or they just keep hearing “no’s” laden with the “I can’t afford it” message). Can you relate to that?
I recently had this conversation with a great group of coaches at the International Coaching Federation’s Oregon Chapter. We discussed the concept that most of us only invest in things that we value even if we have plenty of money. So, you could charge only $200 a month for your package but if you haven’t created a clear value proposition for me (aka, clearly shown me how working with you would positively and dramatically affect my life) I’m going to feel like $200 is way too expensive.
Conversely, if you do a great job at showing the huge impact your coaching can have on your prospects’ lives, $200 a month suddenly seems like a no-brainer bargain.
So if people are saying to you “I can’t afford that” “that is too expensive” or “that’s outside of my budget”, it may not be that you are too expensive (especially if you are at or below market rates!). It is actually quite likely that you aren’t demonstrating value that is aligned with the cost, in their eyes.
It’s important to learn how to illustrate in your enrollment conversations how you can help your prospects bridge the gap between where they are and where they want to be and it is definitely essential to getting a powerful, committed ‘YES’ from your new clients.
You certainly can’t charge a premium for your services if you don’t nail this aspect of enrollment.
If you’d like some insight into getting to a powerful, committed ‘yes’, click HERE to download my complimentary workbook. It will help you create a structure within your enrollment conversations for demonstrating the clear value of working with you, as well as create a powerful experience of coaching, simultaneously.
When you have conversations like this, it becomes clear to the client what it is costing them by not getting support in bridging that gap between where they are and where they want to be. And if that cost is too great, the cost of working with you, even if it is an investment, will rarely get in their way from moving forward.
Tara Butler Floch