The Secret to Growing Your Coaching Business – Coaching Prices – What Does Your Coaching Cost?

Coaching Price Question
How many times has your first meeting with a prospect started off with “So what does it cost?’

Or, you are asked that question somewhere along the line and way before you were ready to tell them. You just didn’t know how to avoid answering that, so you answered it. You got a shocked look, and the meeting was over.

I’m sure that you’ve been told by someone, one of your previous coaches or a sales trainer, to not give your price before you had given your presentation, or had time to build the value before giving the price. But, isn’t it darned hard to look that prospect in the eye and put him off, delaying that price, so . . . you don’t .. . and you lay the price on the table.

You just didn’t know what to say when you were asked. And, in some cases, you might have actually told your prospect that you’d get to that, but then he seemed a little perturbed. And suddenly you felt as if you just “crossed the line” and were losing him anyway. Believe me, I’ve been there, and done that.

Here’s one way  to handle that dreaded “what does it cost?” question. See the response below:

“Since you asked that question, maybe now’s a good time to make sure that you get what you really want.

It all depends on what kind of results you really want and how hard we both have to work for it. A good example is that many of my clients tell me that they typically get about 50 to 100 times the fee in the first few weeks, and that continues to build higher and higher over longer periods of time.

I have programs that range from $30 a month to thousands of dollars a  month. So, tell me, if you felt that you  could get what they got, about 50 to 100 times what they spent, would you invest in that?”

Now is probably not the time to ask them HOW MUCH they’d invest. However, after you’ve shown them the value you deliver, then it would be a good time to remind them of this discussion and their statement, and then ask them how much they’d like to be making.

As a business coach it’s pretty easy to talk “value” to them and get them seeing that a typical return of thousands of dollars a month, or for bigger companies, millions, is an easy investment. For life coaches, and other coaches, the key to you making many times more sales per month is in your being able to define your value in comparison to the investment someone will make in your services.

For life coaches it could be an increase in overall income, in improved relationships, in more time with the family and over loved ones, etc. You have to find your value and position it in relation to the return on investment you deliver. Don’t talk about “coaching” talk about the value your clients get and watch your sales skyrocket.

Keep in mind that people will spend whatever it takes to get something they REALLY want. So you must help them find just how much this is worth. Money will not be an obstacle for the right clients, and for those who REALLY want what you have.

Do you want to learn more about how to increase your coaching business?

I have just completed my brand new guide to coaching marketing success. You’ll also get a free invitation to join a mastermind group of other coaches as they build their business. Hear what works and doesn’t work.

Get your first chapter of “How to Build a Super Star Coaching Business” for free.

About the Author:
Alan Boyer coach’s coaches, who want more business than they can handle, or at least more than they imagined…before this…..The reports have been “5-10 times more clients in just a few weeks, and still growing.

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