Ep #17: Pricing Your Coaching Like A Leader (Not A Follower)

Did you know that 2024 is an 8 year? Now, if that sounds a little woo woo, hear me out. Because the 8 year is all about power and success and balance. So, if your vision for 2024 is to create and keep more money; yes, please. Right? Then starting the year by getting clear on what steps you can take that both capitalize on the energy of the 8 year, and give you practical guidance, is definitely a smart move to make.

Did you ever stop to think that your thoughts, beliefs, your mindset about pricing impacts every corner of your coaching business. That before you even contemplate the amount to charge, what you want to do first is check in with why your coaching fees are actually an opportunity for you to be a leader and to take a stand. Not only for the value of your coaching, but as a role model for your clients, whoever they may be. Your pricing is still the number one indicator of success for your business. Thinking about your pricing, like a bit of a badass leader, is going to serve you so, so well as we continue to head into the new year.

I'm Kendall. Tune in this week to get my six strategies on how to think like a leader before you decide what to charge. This episode is for you whether you're a new coach or you already have experience under your belt, and it's time to up level your coaching fees. It's all here for you in this episode of The Money Coach School Podcast. Let's dive in.

Welcome to The Money Coach School Podcast. To really excel at coaching women, you have to be skilled, confident, and even fearless at money coaching. If you're passionate about women holding genuine money power and love supporting women entrepreneurs, then this is the show for you. Now, here's your host, money feminist Kendall SummerHawk.

Hello beautiful coaches. I am so glad that we are sharing space here together today. One of the things you may not know about my business and how I run my certification trainings is that in them, I include live group coaching with me on a regular basis. It's one of the most favorite things I do in my business because I get to both teach and coach on what I love most, which is how to be excellent as a coach.

So much behind the scenes on running a coaching business. I teach on pricing and on how to handle all of the different situations that come up for coaches with their clients, which there are so many of those situations that do come up. One of the things I do with my certification students is we create a monthly theme, which they love as much as I do.

So this month, the theme is leadership. We've been looking at leadership as it relates to self-mastery with your coaching skills, leadership and boundaries. Just last week, it was leadership with pricing. The call was so good that I thought, hey, you know what? I need to bring this to you, my loyal podcast listeners. So that's what we're talking about here today.

I'm going to walk you through how to be a leader with your pricing, not only for the health and well-being and strength of your business, but also so that you can coach your clients on their pricing in a powerful and impactful way even if you don't think of yourself as a business coach at this time.

So today's episode is about leadership and your pricing and the stand that you take for pricing with your clients. Now the why here behind this episode is because your thoughts, beliefs, mindset about pricing impact every corner of your business, and it impacts the results of your clients as well. I say this all the time. Pricing still remains the number one indicator of success for any business.

Too low of pricing causes a multitude of problems, starting with nonperforming clients, the need for you to have to have too many clients, a lack of profitability in your business, low self-concept and low self-esteem, not being seen as credible, and the list just goes on and on.

Now, when I say that too low of pricing impacts your self-concept and self-esteem, I want to be really clear about something here. I'm not saying that there is a number attached to your worth or value. You were born worthy, and your worth is priceless. What I am saying is that when you price too low, it hurts. It hurts in your heart and soul because you know you're under charging for reasons that are like shrinking to fit or out of guilt or shame. It's like you're not honoring yourself.

Conversely, you don't need to be the most expensive in order to be honoring yourself. You just need to approach your pricing from the space of being a leader, which I'm going to get you started on here today. So here are six ways that you can step into leadership with your pricing.

Number one, you value the paradigm that the price you charge is not about whether your coaching is worth it or not. Because thinking and asking yourself is it worth it or not, that's not leadership. Leadership is when you value transformation for your client at a high level, and at a level where things are going to happened faster for them because of coaching with you.

You're prioritizing collapsing time for your clients because you're coaching a client through processes and creating transformation for them in a few months that they would otherwise take years to do on their own, if they could even do it on their own.

For example, in my business, one of the key reasons women enroll in my certification trainings is that in 90 days, for example, with Sacred Money Archetypes, or in six months for Money Breakthrough Business Coach training. They're getting fully trained and certified in materials that took me over a decade to create all based on a decade's worth of experience.

So I've collapsed time for my certification students. They don't have to spend a decade figuring out how to coach on money, or how to coach women entrepreneurs to design a joyful business because I've done all that for them. Because I've condensed time, I've collapsed time for my students, so that they can learn everything they need to be amazing and effective coaches.

Now they're collapsing time for themselves, and jumpstarting their coaching in a few months versus it taking years. They collapse time when they invest because they're literally taking what took me a decade to learn and develop, and they're learning and implementing it in three months or in six months.

So, again, leadership is when you value transformation for your client at a high level and at a level where things are going to happen so much faster for them because of coaching with you. Your pricing reflects that you're collapsing time for your clients. If you want more coaching on how to look at your pricing, be sure to check out episode number 13. I'll put a link to that in the show notes because I do go into one of the very specific strategies that I teach for helping you price your coaching like a pro.

All right, moving on. The second way you can step into leadership with your pricing. Number two is you're here to set a standard and to assist people in prioritizing themselves and what they want for themselves. Low, low prices, they don't do that. People do value what they pay more for, which leads me to number three. You hold the standard that your pricing creates a new energetic space for someone to step up into.

So if you've ever enrolled in a training or a certification or a coaching program then you've likely experienced this for yourself. I've experienced it many, many times signing on for high end coaching. That experience is that when you invest in yourself at an amount that feels like a stretch, it stretches you and you see yourself differently. You feel differently about yourself. I know when I've invested tens of thousands of dollars in a single coaching program, a single coach or mentor, it scares the living daylights out of me. It really kicks my butt. Certainly it's a stretch.

But the point is, that's the point. It's supposed to kick your butt. It's supposed to make you want to step up to be more, to do more, and to really start to elevate into that next level version of yourself. The same thing happens for your clients when they do that.

So for you, as the coach, holding the standard, it's like saying to yourself we're going to work together up here at this level where I see for you your potential. I see for you that you are capable of having amazing things happen for yourself. That's the energy. That's the mindset that you want to be holding. You don't drop your standard to keep someone from feeling the stretch. The stretch is good. The stretch is what is needed for them to prioritize their own transformation and their commitment to themselves. You hold the higher standard with love and compassion that says you can come up here to meet me and to meet your new self.

Now it doesn't mean that your clients aren't going to have fear or doubt because change is scary. It happens. But you hold the space of holding them to their highest potential. You don't drop down and start feeling bad about the idea of affordability for someone. Your clients don't want you to drop. That is not the energy of coaching. Your clients want you to hold that higher energy. The people who don't want that, well guess what? They're not your clients. The people who want you to discount or make a deal, they are not your clients.

All right. Number four, understand that money is part of the equation of prioritizing what someone wants for themselves. Paying is how someone prioritizes how important something is to them. So that means you're not a bad person because you hold a higher standard for your pricing. Instead, you're a person who understands that without the money aspect, people won't value. They won't appreciate. They won't prioritize doing the work to get what it is that they want.

Number five, being a leader is not trying to care take someone or feel badly for them or hold them as less than powerful. That kind of over nurturing, over mothering, guess what? It's not healthy for you. It is not empowering for your client. It's really not good for your coaching relationship. If you do that then the energy of the coaching space will be contaminated, and the client is going to ghost you or they're not going to do the work.

We have a saying that's the foundational principle of all the trainings, all the certifications that we offer, and it is this. I will hold you as powerful, no matter what, even in moments where you may forget to do so for yourself. So don't over caretake. This is especially for you, my nurturers, right? Don't over caretake. Let someone step up, and let them pay the fee. Let them find the money. It's okay. The stretch is good.

That leads me to number six. Being a leader with your pricing means you have a foundational belief about pricing that serves you and serves your soulmate, your ideal, your diamond clients. That belief, for me, is very, very simple. It's these two statements. My pricing is in service of my clients, and transformation happens when they invest. That's it. Those are the two beliefs that I hold so near and dear to my heart that gives me all the courage I need to charge like a badass leader.

All right, so how you want to integrate everything I'm talking about here is to set your pricing and believe that your pricing is part of how you embody leadership. Being a leader with your pricing means you are leading you. You don't have to charge the highest fee right now. That's not necessary. But what you do charge, you're charging and you're feeling amazing about.

All right, I hope these six ways of stepping into leadership with your pricing like a bit of a badass are helpful for you both strategically and emotionally. I would love it if you would drop an email to me at podcast@kendallsummerhawk.com, and ask me the question that's burning on your mind about money, about pricing, about coaching. I'm here for you, and I want to know what your questions are. All right, thank you so much for listening. I'm super excited to connect with you again next week in our next episode.

Thank you so much for tuning into this week's episode of The Money Coach School Podcast. If you enjoyed this podcast, make sure you follow so you never miss an episode. Also, I would so love and appreciate if you would leave a 5-star review. Your review supports women just like you in discovering all of the juicy tips and insights I'm sharing here on how to coach women on money.

And if you want to learn how to excel at coaching women on money, definitely go to KendallSummerHawk.com and check out the wealth of money coach trainings that we have for you. Thanks so much for being part of this money coaching movement and for tuning into the show every week.