Pricing and Client Attraction Strategies for Coaches

Most business advisors and coaches aren't getting paid what they deserve. Here's why—and how to fix it. I talk with business advisors and coaches every day, and almost all of them are leaving money on the table. They intuitively know this; they just don't know how to fix it. If that's you, this will help. Here are the 4 ways most advisors determine their price, why they'll leave you broke and frustrated, and how to fix them and get paid more: 1. Price to confidence level. If your price is too low, it's almost always a direct reflection of your confidence in yourself. To fix this and get paid more... * Win that first client * Work pro-bono if you have to * Help them experience an exciting transformation * Write a powerful story about it in a case study you can share with new prospects Rinse and repeat this. Your confidence will go up, and so will your value to your next client, your price, and the size of the paycheck you write yourself. 2. Price by the hour. Never do this. If your client asks you what your hourly rate is, you missed some important positioning steps earlier in your relationship. To fix this and get paid more... * Talk about ROI, not hours * Show them the dollars they're stepping over * Suggest specific strategies to pick them up NOW * Ask, "Would you like my help with that?" and see what happens If they ask your hourly rate, say, "I don't sell hours, Bob. I sell outcomes. Which one is more important to you?" 3. Price by the project: This is a habit picked up by professionals who've fulfilled projects for big companies. And project thinking is how they're fulfilled, but it's not how they're sold. To fix this and get paid more... * Don't use corporate-speak terms like "scope of work." * You pigeon-hole yourself into a pay-by-project consultant trap * Instead, use ROI language, like, "The impact on your bottom line will be..." 4. Price to market. This is when you compare yourself to other advisors and coaches in your area or niche and try to get close to their price. To fix this and get paid more... * Remember, no one has your unique experience, perspective, and personality * Connect what's unique about you to your unique method or system * Show them the proof you've acquired in no. 1 above * Create an offer so good they can't say "no." * Make sure you're 2X your competitors Hey, if you found this helpful, please show me some love in the comments. It's chicken soup for the LinkedIn writers soul. And to be sure you never miss a post, click the bell 🔔 just below the right corner of my profile banner.

I had an interesting coaching call this morning. With a client who's building his first retainer. In 30 minutes, we walked through the pieces 🧩🧩 Anytime you're building out a retainer offer for a new - or existing client - it's important you include these elements in a proposal: 1. Payment terms - I would always push for 'Net 0' - payment is due at the first of the month for the upcoming month (upon invoice receipt) - and not go anything past Net 30 at the most. Net 60 and Net 90(!) are absolute insanity. You run the risk of never being paid at all in those scenarios. 2. Preferred communication methods - Outline how you'd prefer to communicate - email, Slack, etc. - so that it's crystal clear. Be willing to negotiate here so you get aligned with your client. If you don't set this expectation, you'll have to conform to what your client wants, which can lead to frustration from both parties. 3. Review cycles - To ensure there aren't 'too many cooks in the kitchen,' it's essential to establish the number of review cycles you'd prefer and who the reviewers will be for each content piece you develop. 3. 'Out of Scope' rate- You should clearly outline the scope of the retainer—whether that's a set number of hours per month or a specific package of deliverables—and also what's out of scope, not only in terms of the work but also what you charge per hour to do work outside of scope. 4. A 'wind down' clause - This one has bit me in the past, so I recommend that everyone include it. The wind-down clause outlines what you expect should the client choose to end your working relationship. Typically, that would be something like 30 days written notice and a final month's payment, so you have plenty of time to replace the lost income, turn over any remaining items due, etc. Most importantly, provide three pricing options in your proposal: 1. Entry - an entry package at a low price point 2. Standard - the one your client is most likely to pick - your typical service level for the money you'd like to earn on the retainer 3. Premium - a high-end option that secures more of your time and offers more deliverables, more available hours, etc. Ok, there you go. Now go write some retainer proposals and get your long-time transactional clients OFF THE TREADMILL. What else do y'all add to your retainer proposals? Tell me about it in the comments below. --- 👋 Hi y'all, I'm Kris. 🎒 A former startup guy who now runs a successful content studio. 🖋 Building my business has been hard. I want it to be easier for you. 🤝 To learn how I work more closely with clients, check out the links I share in the comments of these posts and the Featured Section of my profile.

The Psychology Behind Pricing & The Secret to Ultra-High-End Deals Experienced coaches and consultants come to me stuck between $200K-$500K+ in yearly revenue. They’re not earning what they desire, despite: -being in business for decades -time spent in senior-level executive positions -big client names -transformative client results -being incredibly talented at what they do -wanting to make a massive impact So, why do they stay stuck? Often, it’s because they listen to bad advice. Like the guru coaches who tell them to push low-end group programs. (Even though they should be selling six-figure contracts with their backgrounds). Our approach is different. It involves next-level strategy and a lot of mindset work to understand your value and be able to own it. But when clients do, it can be life-changing. Like the leadership consultant who hired us and discovered the pricing and sales strategies to sell a $360K contract. “I could never have done this without you,” she told me. Or the seasoned management consultant who went from “failing to scale” to closing one of her contacts at a new rate of $180K. “They didn’t blink an eye at the price,” she said. We showed them how to: -codify their next-level solution -package it into an ultra-high-end offer -message and position themselves to elevate market perception  -pitch confidently and command more money for their time -Leverage the gold in their networks to close big contracts -Plus much more… You may be an expert, but are you recognized as one? Download my free Ladder of Influence Guide below to learn how to position yourself as an expert authority and supercharge your earning potential. #executivecoaching #managementconsulting #prospecting

Breaking the Mold: Why 90% of Coaches, Consultants, and Advisors don't make it past the five-year mark– And How You Can Defy the Odds. This statistic frustrates me. It’s heartbreaking to hear about so many killing themselves or suffering in silence instead of seeking help. Owning multiple businesses in these industries, I've met many people who have shared their challenges. The main reason for failure? Lack of clear direction. Many advisors and coaches struggle to figure out: -> Where to begin. -> Where to concentrate their efforts. -> What to prioritize. Today, I want to share the strategies that have driven my businesses to over 300% year-over-year growth since 2014, expanding our wealth coaching services to all 50 states and our consulting firm globally. These insights are applicable to anyone in the service industry. 1. Define Your Ideal Client with Laser Precision Every business decision I make is guided by a crystal-clear picture of my ideal client. I've detailed: -> A fictional name -> Family background -> Career and income level -> Biggest fears and challenges -> Aspirations and dreams 2. Frame Your Service as Exciting & Continuous Planning A one-off plan isn’t enough. It’s just a momentary snapshot. Each year, we craft a new plan for every client. Clients especially value spontaneous, unstructured calls during major life or business decisions. Having our team on retainer, ready to assist whenever needed, is what clients appreciate the most. 3. Know & Measure Your Value Relentlessly We quantify every aspect of our value, even the intangible ones. Get Creative. We offer free strategy sessions, free workshops, and scholarships. We even done plenty pay on performance at the beginning. To this day, we offer scholarship -based plans supporting single moms, veterans, and Team USA athletes. We meet clients where they are, helping them grow their businesses and protect their wealth in ways that are safe, grow tax-free, and are shielded from market losses. Clients love it and refer us to others. We’ve collected thousands of video and written reviews over the last decade. 4. Focus on Clients and Prospects Delegate everything else as soon as you can. Acquiring new business and meeting with existing clients are the most valuable activities. When you’re not worried about where your next client is coming from, you can be fully present with your current clients. 5. Build Your Personal Brand Your online presence might not bring in direct clients immediately, but it keeps you top of mind with your existing ones. Want to grow faster? 🗣 Start speaking on stages and around your community more often. In conclusion, I didn’t come up with all of this on my own. I’ve been mentored and coached by incredible people and listened to thousands of clients over the years. This is all a culmination of those experiences. ♻️ Repost this. You never know who we may save. ♻️ Click my name + follow + 🔔 #success #linkedin #leadership #resilience

There are high-ticket clients everywhere. I know, you think elevated high-ticket clients are lurking in an exclusive secret club, hiding from your sales pitches. The truth is, the leads you need are likely already in your experience. You just aren't talking to them. 💰 You say you're an expert, but price your services like a novice. 🏃♂️ You chase after clients, who in turn, run away. 😳 You offer unlimited access to you with no boundaries allowing people to unravel in Voxer while you listen to their fifth 3-minute voice clip, instead of using your authority to actually guide them out of the spiral. 🎀 You cater to the beginner and wonder why advanced clients are turned off. 📞 You have so many calls and bonuses and bells and whistles that it detracts from the value of the service (in the mind of a busy high achiever) and attracts needy clients who tether their success to continuous access to you. 🤗 You proclaim that you want to "help everyone", which elevated clients know isn't possible which lowers their trust in you. ❣ You let everyone in, when premium clients love exclusivity. Similar to how plus size clothes aren't just a bigger size (in fact, the whole garment is different, down to the length and placement of the darts), a high-ticket offer isn't just a low- or mid-ticket offer with a new price. The marketing is different. To truly start attracting clients who will pay you $10k or $30k or $50k, you can't just remix what you've got. You'll need to tap into the buyer psychology that causes people to WANT to pay premium prices. You'll also need to target people with discretionary income and improve your client experience. Finally, you'll need to use your marketing skills to clearly articulate the transformation of your offer, why it harms them to not solve their problem, and highlight the utopia waiting for them when they do. You'll also need to overcome the (very big for some) mindset hurdle that you can't help people who are "further ahead" than you, but that's a story for another day. So tell me, what shift do you need to make to start attracting the elevated client you deserve?