Professionals are often afraid to ask for the price that is clearly appropriate for the service provided or the work done. It happens with salary negotiations during times of reorganization, salary negotiation, performance reviews, and compensation raises. It also happens with independent business owners offering services. While small businesses that sell consumable commodities like food or hardware may find it easier to price their inventory, professionals like consultants or coaches discuss the challenge of putting a price on their expertise and its consequent benefits. This challenge is even more pronounced when the professional is new to the coaching arena. Fortunately, there are two simple and obvious checkpoints to move past this very common occurrence.
First: Know Your Worth
- Get yourself formally trained and credentialed.
- Write out your experience that supports your work as a coach.
- Surround yourself with other professionals of your trade.
- Practice your craft at every opportunity so that it becomes second nature.
- Participate extensively in continuing education.
- Get involved in discussions through social media and professional memberships.
Do it all until the coach’s hat fits like a glove. Remember, own it so that you can sell it. By taking the steps and owning your process, you will know your worth.
Second: Command Your Worth
Now that you know you are good at what you do, be confident in asking your price. Consumers often believe they get what they pay for so do research the market and price your services accordingly. (Think of the message you convey if your fees are too low.)
Arm yourself with the certainty that comes from knowing your profession inside and out. Give it a price tag worthy of its value. You know it is worth that and more.