Ep #13: 3 Enlightening Paradigm Shifts for Pricing Your Coaching

If you have ever asked yourself how much should you charge for your coaching, or if you've ever felt doubt or hesitancy about your pricing, this episode is going to give you an entirely different way of looking at your pricing that I believe will bring you ease and confidence instead of doubt and uncertainty.

Plus, in today's economy, everyone is feeling the impact of clients looking much more closely than ever before at what they are investing in. That means the timing of this episode and the concepts I'm teaching you here today could mean the difference between struggling and thriving in your coaching business. I'm

Kendall, and today's episode is going to open your eyes as to how to evaluate what to charge using three fundamental paradigm shifts I'm including for you. 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 you are here with me today. Oh my gosh, there are so many different topics that I want to share with you about money. Everything from money mindset, money handling, up leveling your money thinking, trusting yourself to create, have, and hold more money, receiving more money, how money is such a key factor, a key element of your business model, untangling money stories, pricing, and, of course, becoming and thriving as a money coach for women entrepreneurs.

Of course, every topic we share here together on this podcast explores the practical, the emotional, and the energetics of money because it's money that we're taking a deep dive into. Money is feminine, which means there are always emotions to explore and energetics to get lined up for your greater good and empowerment with money.

Along that theme that money is feminine, if you have not yet heard my episode titled Money is Feminine, be sure to listen to it. It's turning out to be one of my most highly downloaded episodes so far. I'll link to it here in the show notes.

So of all the topics we could talk about here today, the one I chose for today is so appropriate, or apropos I should say, since we're heading into a new year. Because we're heading into New Year, I want to talk with you today about pricing your coaching. Specifically, I want to introduce you to how I think about approaching your pricing first.

So before picking the number, I want to give you the right approach to take. Coaches often feel a tremendous amount of doubt or hesitancy about their pricing. How much should I charge? Should it end in even numbers? Should it end in 99? Should it end in 97? What about those angel numbers that people use? Then those questions lead to all of the other ones that lurk under the surface. Questions like what if it's too expensive for someone? Should I lower my price? Should I wait to increase my price? Oh my gosh, I could go on and on, right? The downward spiral of where this can take you feels like a never ending hole of self-doubt.

It's really difficult to have those thoughts and believe 100% in your pricing. You do need to believe in your pricing. So what I want to do today is give you a radically different way of looking at your pricing so that you're starting with better thoughts about your pricing, thoughts that are intentional, so that you feel confident about your pricing. So that you don't wobble.

Because you want higher quality thoughts about your pricing. You want higher quality feelings about your pricing. You want to feel like it is the perfect price for your ideal clients. You want to be so incredibly sold on your pricing that you radiate confidence and belief and certainty. To be in that space starts with stepping in to a new way of thinking, a new paradigm about your pricing. So are you ready? Let's dive in.

The first paradigm shift in how you think about your pricing is that your pricing is an asset of your business. Pricing is an asset because it's what gives you profit. Pricing is what brings in the best clients. Pricing is a catalyst for clients to show up fully and to really be a best client for you, of course, but also for themselves first and foremost. Pricing is an asset because it's bankable. Every time you enroll a client, you have money in the bank. That's what assets do. They produce money for you.

So it's your job as a coach to honor and respect and value and appreciate and fully support your assets. You feel proud of your assets. That includes how you feel about your pricing. So you don't disrespect an asset. You don't malign it. You don't sabotage it, you don't discard it. You don't keep changing your mind about it. Caught you on that one, didn’t I? You love your assets because they are there for you. They do the work for you, and they are a hugely valuable contribution to your success as a coach.

Which brings me to the second paradigm shift in how you want to think about your pricing. Think of your coaching as being valuable, not at what you're charging, but being valuable at three times what you're charging. Three times. Not just barely valuable but three times.

When you have sold yourself on your coaching being valued at three times what you're charging, you approach enrolling clients with this incredible, full bodied and embodied belief and conviction that the investment for them is wildly worth it. To do that, to really, truly, fully, and wholeheartedly believe that the coaching you're delivering is valuable at three times what you're charging, it happens when you understand how to validate your pricing.

Validating means you understand in heart and soul that the value for your clients is far, far greater than what they're investing in coaching. Validating does not mean seeing what people will pay and then deciding that's the right price. No, no, no, no.

If you choose what others are charging or what you think someone will pay, what you think someone's current financial status is, you are never going to feel confident because those are all metrics that have no real way of being measured. Plus, they're constantly moving target and can be so different depending on who you're looking at. Really, let's be honest, this is looking for external validation. That's going to make you wobble. That's going to send you into the land of unconfidence, uncertainty, and doubt every single time.

The best validation for your pricing is just one thing. What are the results that your clients achieve and experience, and even more significantly, not just immediate results, but the abundance of results a client will accumulate and experience over a span of time?

So for example, let's say you're charging $5,000 for a six month client. Do you believe in your heart and soul, first of all, that six months of coaching will change someone? I mean, if you're not clear about that, and you don't absolutely say with a full throttled yes, six months of coaching will absolutely create a transformation then there's some other work to do here, right?

But let's say that that answer is a yes for you. Do you have a clear idea as to some of the ways it will change them in their business, in their personal life, in the quality of the time spent in their business, in their confidence? I could go on and on in all the different aspects or facets of someone's life.

Do you believe that six months of coaching will support your clients in making different and better decisions, making decisions that empower them? Do you believe there is no better investment that someone can make in themselves and in their business than coaching with you right now in the coaching container that you offer?

For example, I know without a doubt that if you're certified in my Sacred Money Archetypes, your ability to coach someone will create a measurable, positive change for them with their money, their confidence, and in their decision making, and obviously in so many other ways as well.

So when I look at the investment for someone like yourself to get certified in Sacred Money Archetypes, I'm validating it against all of the tangible client results you're going to be able to create through coaching with Sacred Money Archetypes. I validate it against all of the client income you're going to be able to generate for yourself. Then I look at the tuition, tuition to come into Sacred Money Archetypes certified coach training, and I ask is it valuable at three times that tuition investment? The answer is heck yes. Oh my gosh, yes. Hands down yes.

Which brings me to the third paradigm shift I have for you today, and that is always validate your coaching based on looking forward, not for three to six months of delivering coaching or nine months or some short period of time, but to look forward for one, two, and three years of results that accumulate that compound for your clients.

If you're not looking that far out, if you're not looking at how the results compound over one, two, and three years, what happens is you're looking at the value of your coach think from a very transactional viewpoint. So transactional thinking is saying hey, I'm delivering six months of coaching. So what should I charge?

I know that transactional thinking is not your nature. It's just not. We won't go into the detail of that today. But I know that you know that's not your nature. You're much, much more generous than that. That question, how much am I going to charge based on six months of coaching, it's not the right question. It's not going to work. You want to apply high level thinking. You want to use the paradigm of not looking at that short term transaction, but instead looking at that long term compounding effect clients experience from all that transformation that your coaching delivers.

This means you're validating your pricing by linking your coaching to results over a much longer timeframes because clients need that time for the results to start to show up and to be fully experienced, to be fully realized. So this paradigm of looking forward at the compounding effect of one to three years of those results compounding for your clients, this is how you easily see and feel and honestly believe that your coaching is valuable at three times or more compared to what you're charging.

So if you have lots of thoughts about this is a lot, or people don't have this kind of money lying around, or this is a big investment. Or you're thinking it might be a little too much for what you think you can deliver, or you're afraid that someone's going to think it's not worth it, then what's going to happen is you're going to experience potential clients saying to you. I don't think I can afford it. I'm gonna have to check my budget. I have X, Y, Z coming up. I'm going to need to finish something else first.

They're going to value something else over coaching with you. If you're looking at your coaching at that transactional level then I can guarantee that you're not looking at the value of the coaching over that longer three year period of time. That's where the power is. That's where the value really is.

It's not just in the six months of coaching. It's that first six months that sets up their next one to three years for your clients. So if you're looking at that transactional level only, you're going to be missing out on adding up the accumulation of results that can happen for your clients.

Now one additional piece I want to offer you here is to not make the mistake of lumping together your package or container with your pricing. This is a mistake that will forever trap you into thinking that the more you charge, the more you have to include. No, that is not the truth. Your package or your container, that's the structure of your coaching. Your pricing is the investment. The two have literally nothing to do with each other. So do not use what you're including in your coaching container to validate what you're charging for your coaching.

So we talked about three powerful paradigm shifts about your pricing that will give you the freedom to charge so much more than you've been thinking you can, and that will give you the confidence to know that the coaching you offer is worth three times or more than what you're charging. That first paradigm shift is acknowledging that your pricing is an asset of your business. So respect it, love it, honor it, treat it with all that beautiful love that every asset in your business deserves, right?

The second paradigm shift is thinking of your coaching as being valuable at three times what you're charging. That third paradigm shift of always validating your coaching based on looking forward one to three years of results for your clients that accumulate for your clients, that compound for your clients, not just looking at the six months of coaching that you're delivering.

All right, I would really love to hear what you think. Drop me an email at podcast@kendallsummerhawk.com and tell me your thoughts about this episode. Thank you so much for listening. I am super excited to connect with you again next week in our next episode.

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