Unlock Your True Professional Value
Charging higher fees should not induce guilt.
If you possess the necessary knowledge, experience, and expertise to deliver results, you have earned the right to ask for the price you set, so please don’t apologise.
Furthermore, if you feel guilty about charging clients, how much confidence do you think they will have in your abilities?
Victorian author John Ruskin (1819 – 1900) once stated:
“The common law of business balance prohibits paying a little and getting a lot – it can’t be done.”
Over a decade ago, I held a one-on-one coaching session with a renowned entrepreneur, assisting them in concentrating on their business objectives.
As our session ended, they inquired,
“Thanks, Martin, for your time. How much do I owe you for our session?”
I replied, “Just send it to me whenever you can…”
Their response has remained with me ever since:
“You just dedicated an hour to me. You could have been coaching someone else, and it’s unjust for me to expect free coaching from you. Please send me your invoice. I will also think about hiring you further.”
That defining moment led me never to undervalue my coaching business again.
I realised that clients would be happy to invest in and appreciate my services if I could help them reach their goals and deliver measurable results.
These days whenever I receive an inquiry about my coaching services, I typically respond with something like:
“Thank you for your message. I would like first to figure out how I can best help you. Let’s schedule a call to discuss your needs, goals, and how I can best help you achieve them.”
My experience has shown me that businesses vary and that a one-size-fits-all solution is ineffective.
As a result, I only talk about fees after first talking with the business to understand their needs, challenges, and how I can help.
Recognising the Ineffectiveness of Immediate Pricing
In the initial stages of my coaching career, eager to acquire clients, I committed the common error of providing immediate pricing.
❌ A inquiry would come in.
❌ They would immediately ask for the price.
❌ I would provide them with a price right away.
❌ The business opportunity would vanish.
It often played out like this:
“Martin, could you send us an email with the costs involved – very interested in what you do.”
What do you think happened next?
You guessed it…
Regardless of its appeal, it resulted in ZERO business.
Once you tell people about the costs, they stop listening to you.
The client may start asking themselves questions like:
🤔 Can we afford this?
🤔 How does it compare?
🤔 How should we react?
🤔 Is it good, bad, high, or low?
The Dangers of Commoditisation: Standing Out in a Competitive Market 🎯
As consumers, we often consider service-based businesses, such as coaching, as commodities.
We view them as interchangeable, focusing primarily on price rather than considering the unique value that each service provider offers.
By commoditising these businesses, we compare them solely based on their pricing structures, neglecting the individual expertise, experience, and personalised approach that each coach brings to the table.
To develop a thriving coaching practice and avoid becoming commoditised, you must differentiate yourself from the competition and showcase the unique value you bring to your clients.
Here are some ways to do that:
Develop your unique selling proposition (USP): Identity what sets you apart from other coaches in your niche. This could be your specific area of expertise, techniques, or the extraordinary results you help clients achieve. Communicate this USP consistently through your marketing materials, website, and social media channels.
Personal branding: Cultivate a solid brand that reflects your personality, values, and coaching style. Share your story and connect with your audience personally so that they can see the person behind the service. This will help build trust and make it easier for potential clients to relate to you.
Offer tailored services: Avoid offering generic coaching packages. Instead, create customised coaching programs catering to each client’s needs, goals, and preferences. This demonstrates that you understand your client’s unique challenges and are committed to helping them succeed.
Showcase your expertise: Share your knowledge through blog posts, articles, videos, podcasts, or workshops. Offering valuable content positions you as an expert in your field and helps potential clients understand how your coaching can help them.
Build a strong online presence: Invest in a professional website that showcases your services, testimonials, and portfolio of work. Leverage social media to engage with your audience and share valuable content. By demonstrating your expertise online, you increase your visibility and credibility, making it less likely that clients will view your coaching as a commodity.
Focus on client success stories: Collect and share testimonials, case studies, and success stories demonstrating the value and results you have provided to past clients. This will help potential clients understand the tangible benefits of working with you and reinforce your unique approach.
Invest in continuous professional development: Stay ahead of the competition by continually learning and growing as a coach. Attend workshops, obtain certifications, and network with other professionals in your field. By staying up-to-date with the latest trends and best practices, you ensure your coaching remains relevant and valuable to your clients.
By following these strategies, you can effectively differentiate your coaching practice from others in the industry, ensuring that you stand out to potential clients and avoid becoming commoditised.
The Art of the Discovery Call: Building a Strong Foundation for Success
A discovery call, either virtual or in-person, is an opportunity to understand a potential client’s needs and demonstrate how you can help them achieve their goals.
Below is the approach I use with all new leads inquiring about my coaching services:
🌟 Schedule a discovery call, either virtually or in person.
🌟 Highlight the value they will gain by working with you.
🌟 Discuss the work and openly share your expectations with them.
🌟 Take pride in, and believe in, the “true value” you deliver.
🌟 Share the potential advantages of working together, including expected results, benefits, and outcomes.
Like any relationship, it’s two-way; if something doesn’t feel right, it’s better to part ways.
This approach has proven effective for me thus far. I now have the following:
✅ A diverse range of excellent clients
✅ Clients who appreciate our work
✅ Clients who reward us and regularly introduce us to other businesses
I hope you found this information helpful.
Are you interested in collaborating?
Begin by addressing these four straightforward questions:
- First, what are your professional aspirations?
- Second, what motivates you to pursue these goals?
- Third, on a scale of 1-10, how committed are you to realising your objectives?
- Finally, in the next 12 months, where do you envision yourself?
I’m a veteran marketer and business developer with over 20 years of experience. Through trial and error, I’ve gained the expertise to transform connections into profitable partnerships.
Why choose to work with me among the multitude of business development experts?
With a track record of helping clients secure an impressive £60m in new business, I bring a unique blend of marketing strategy, networking prowess, and a war chest of trusted referral partners.
Ready to turn contacts into contracts? Let’s forge your path to success. Contact me above or connect with me on LinkedIn or call 07399603555. Together, we can transform your business goals into a money-making reality!