How to Set Your Prices as a Coach | Million Dollar Coach

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I want to talk to you about pricing. Most coaches I know are under confident and under pricing. I want to show you how to fix that forever.

I also want to talk to you about hot buttons. Tying into the exact hot buttons to make your prospects buy and I want to give you the four-step formula for picking the ideal message to your market match.

And I want to talk about scarcity. You know that if you add scarcity to any offer you make, people are going to take more action.

But what do you do if your brand new coach, if your diary is completely empty and there’s no real scarcity at all?

How do you inject it where it seems that there is none?

That’s what we want to cover in today’s episode of the Coach Marketing Machine.

Pricing Woes as a Coach

Most of the coaches I meet are under confident and undercharge. I want to stop that forever.

So let’s see how you price.

Most coaches sell hours, blocks of hours or months.

One of my hourly rates is this. Or you can buy a six pack of sessions for this much or this much per month.

What are you doing when you that?

What are you really doing?

You’re just selling like the industrialized tortoise sells. You’re selling time and materials. You know this much per hour and that much for my labor and this much for my materials. That’s old school thinking.

How do you pick a premium price and be worth it?

It’s really simple.

You need to know two numbers:

#1 – What’s the cost of not hiring you?
How much is the cost somebody just staying in their problem and not get this issue solved?

#2 – What’s the potential ROI – Return on Investment
Once you know those two numbers it’s really simple. You pick a price that is an incredible deal for them in terms of the ROI they’re going to get and it really fair return for you as well.

That’s how the price your service for profit.

The other day in a live coaching call one of my coach marketing members asked me about how to plan out your ideal week.

How To Plan Your Ideal Coaching Week

It’s really, really simple.

You just pick one of the three main focus areas.

Maybe there’s coaching, there’s marketing and there are sales.

The best way to do it is to pick one day where you focus on each those topics and you smash it.

If you have sales there on Thursday call that money Thursday and just fill every sales appointment into that time slot.

If you need a coach and you have you know a day or 2 days or 3 days for that – that’s coaching time.

You need a Marketing Monday. We’ve talked about that every Monday morning – first thing is the best way to do that.

Pick your big rock activities put them into your week first everything else can fill around the gravel and the sand but put in the big rocks in first.

When Should I Start to Automate My Marketing?

Had a couple of coaches asked me about when I should start to automate their marketing?

And the truth is you should always have a degree of automation in your business.

But when you’re first getting started – if you’re in the struggle phase between $0-10k a month, your focus is on how to get more clients. And honestly, you could build marketing systems.

But if you’re in a struggle? Don’t build. Hunt.

Grab that spear, go out, get yourself some first meat. Get yourself a new client or two or three.

Once you hit the $8-10k a month mark then you switch from hunt mode into build – that’s when the fun starts. But right now if you’re in a struggle, get hunting.

Copywriting Argument – Who Won?

I had an argument the other day with the copywriter. He was telling me about what you really need is you need a teacher that writes better copy and I’ve resisted.

You know what? Here’s my take on You don’t need to write better copy. You need a better-matched copy.

Better matched copy means you’re going to target your words; target your message to the exact hot buttons that your prospects are facing – the important and relevant issues for them.

The Four Hot Buttons for your Coaching Copy

There are four hot buttons that you need to tap into:

There’s away from motivation and towards motivation. And there are things which are present right now and things which should be a more future long term. And if you break that up you have fears and frustrations and wants and aspirations.

Divide up a piece of paper to four and list that: all of their fears, all of their frustrations, all of their wants and all of their aspirations – as it relates to the topic you want to help people with, and that will give you the perfect map to nail the hot buttons every single time.

So inside the CoachMarketingMembers.com every fortnight I do a live coaching call with my guys. And the coaches get to ask me anything they want about marketing and sales and grow their business.

Scarcity Even When Your Diary’s Empty

And a coach, a brand new coach said, “Taki I heard you talked about urgency and creating scarcity to get more people to respond. But I’m brand new. Here’s my calendar it’s empty. I got nothing. How do I create urgency and scarcity when my diaries are empty?”

It’s really simple.

There’s two kinds of scarcity: There’s limited number and there’s limited time.

If you don’t have a limited number of slots available then go with limited time.

Make your offer, give your offer a deadline. Friday at 5 pm and that gives you a chance to talk to people on Monday about it on Tuesday or Wednesday or Thursday and count it down.

Now you know there’s 48 hours to go and there are 24 hours to go. If you can’t create limited numbers, go with limited time.

Take Action.

Be Hungry.

Get yourself some clients.

Pre-load your year

I’d love to hear from you. Share your thoughts by leaving a comment below.

 

P.S. Whenever you’re ready… here are 4 ways I can help you grow your coaching business:

1. Grab a free copy of my book

It’s the roadmap to attracting prospects, signing clients, and scaling your coaching business. — Click Here

2. Join the Coach Dojo and connect with coaches who are scaling too

It’s our new Facebook community where smart coaches learn to get more income, impact, and independence. — Click Here

3. Join our Implementation Program and be a Case Study

I’m putting together a new coaching case study group at Black Belt this month… stay tuned for details. If you’d like to work with me on your client-getting and scale plans… just send me a message with the words “Case Study”. — Click Here

4. Work with me and my team privately

If you’d like to work directly with me and my team to take you from 6 to 7 figures… just send me a message with the word “Private”… tell me a little about your business and what you’d like to work on together, and I’ll get you all the details! — Click Here

 

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