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Pricing Your Coaching Offerings

Pricing Your Coaching Offerings

My money mindset work is an ongoing journey. If you have been in any of my Radiant Coaches Academy classes you will have heard me say this over the last couple of years. Things have slowly evolved after being coached by expert business mindset coaches and attending a range of marketing courses.

Pricing your coaching offerings relies on developing a solid money mindset. Here are some ideas to help you.

Writing a Letter to Money

Along the way I have picked up some useful exercises that helped me when pricing my offerings. One of most powerful exercises I carried out around my money mindset was with my first coach, several years ago. She asked me to write a letter to money. It helped me understand where my attitudes had sprung from, and then start to work through some blocks. I simply started the letter, “Dear Money…” and the unpacking flowed from there.

The exercise revealed the limiting belief that I learnt from both parents: To earn more than you need is greedy. That is one way of thinking about it, along with hundreds of other ways! As coaches, we support our clients in forming new beliefs and thought processes to guide us. Such as,

  • To earn more than you need means you can provide free coaching to marginalised groups.
  • To earn more than you need provides motivation to your friends and peers.
  • To earn more than you need acts as role modelling behaviour to your children.
  • To earn more than you need means your ancestors are cheering you on.
  • To earn more than you need suggests there is a baseline need, what if there was no such thing?

Conceptualising Money

A couple of years later, I learnt a powerful message from Michelle Allen’s INFINITE UPSTART programme. She told us that we can see money as energy. It has the qualities of movement and flow. From this new understanding I created some manifestations on this year’s Vision Board, including: Money flows easily towards me. Five years into the year and I had a month that generated three times my average monthly income!

Pricing Your Offer

Use the questions below to help you determine an appropriate price when putting together coaching packages or courses. First we will look at some Initial Questions that get you into place of moving towards finding a price. And then we will move more into the specifics of choosing a figure by answering some Pricing Questions.

Initial Questions

  1. How long did it take to put the course together? – thinking time, planning time, construction, pilot, launch
  2. What attainments do the participants receive?
  3. Are you offering free places? – if so, charge more to absorb those places, or have a pay-it-forward plan, or three levels of payment where everyone gets the same offer but can pay three different prices, or discounts if they pay in full

Pricing Questions

  1. Climb out of your client’s pocket and stay on the side of what feels right for the value you are offering. Perhaps journal around this
  2. Do not think of your offering in hourly terms (e.g., they receive two hundred hours of training, although you can put that into your marketing). Price it based on what they will gain overall – what will it let them do/be/have that they do not have already
  3. Reverse engineer your price – i.e., How much do you need to make per month, how many units do you think you will sell per month, what does that look like for cost per unit?
  4. Run your prices by trusted friends who know the sector
  5. Research what others are charging but remember they are not you
  6. Hold yourself in a comfortable position, tune into your body, say different prices aloud and feel what messages your body is giving you 

I also urge you to review your prices and packages at least twice a year. Trust me, it gets easier each time you raise your prices, and committing to reviewing them regularly reduces the discomfort more quickly.

Finally, do not view people who offer something similar as competition, regard them as unique, in the same way as you see yourself. This will bring greater ease around your business. You may even want to view them from a collaborative stance. And trust that the right people will find you; this is a great topic to be coached on!

Good luck and let us know how you get on.

Associated links:

Ali Hendry (she/her) is a Certified Holistic Life Coach (PCC) working with individuals, duos and groups. She specialises in relationship coaching, DEI consultancy, and public speaking training. Ali is course director on an ICF Relationship Coaching Specialty, co-director on an ICF DEIJB Coaching Specialty and TEDx Speaker (Survivor’s Guide to Jealousy). www.alihendry.co.uk @alihendrycoaching 

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