How Much Is It?

You know you're going to get prospective coaching clients asking you the inevitable question above. How and when you respond to this question could determine if you have a new paying client in your coaching practice or another name to add to your list of 'nearlys' - i.e. they were so nearly a client :-)

So how do you deal with this crucial question? Well, there are a couple of schools of thought on this topic and here they are together with their respective pros and cons...

School of Thought #1 - Deal with it up front

With this approach you display your pricing on all of your marketing materials and also answer the question immediately whenever it is asked by the potential client.

Pros

1. Encourages openness - You present yourself as an open and honest coaching professional.

2. Pre-qualify prospects - Only those for whom your pricing is less of an issue will take the next step of investigating your services further.

You could decrease the number of time wasting enquiries you receive and focus instead on those who have a higher chance of utilising your coaching skills.

3. Boost enquiries - You may get enquiries from clients who are 'sitting on the fence' due to uncertainty on how much your services will be.

Remember that some people may not want to contact you for fear that your services are too much. Also, they don't want to be embarrassed if they contact you in person and then find out your figures are outside their reach.

By having your figures up front, they may be pleasantly surprised.

Cons

1. Put people off - You may put some potential clients off contacting you as they may think your services are too highly priced. They may not yet appreciate the real value you bring to them. Therefore, you may get fewer people contacting you to enquire about your coaching services.

School of Thought #2 - Leave it until as late as possible

With this approach you wait until as late as possible in the process before you have discussions on the pricing of your coaching services.

Pros

1. Establish the value - With this approach you are able to establish the benefits of what you offer before revealing your pricing. You have the chance to increase the number of benefits on your side of the scale to make your service appear more than worth it when contrasted to your fees.

2. Flexibility - Your pricing structure can become more fluid as you are able to adjust your pricing according to value you create for your client rather than having a 'one size fits all' figure.

Cons

1. Appear evasive - By not displaying your fees up front you may appear more devious and evasive. Imagine going into a restaurant where the prices are not displayed - what would you think?

2. Put people off - In this case, you may put off perfectly qualified prospects from contacting you because they may think your figures are outside their affordability. They may perceive that they cannot afford to investigate further.

Which approach do you prefer?

Do you have a preference for one of the Schools of Thought above? If so, I would like to hear your views. I've been contacted by a number of coaches about this topic recently and I'm currently reviewing my own approach.

If you complete this short 2-minute questionnaire and let me know what you think, I'll give you a link to not one but two teleclasses I delivered on How to Set & Get Fees in Your Coaching Practice as my way of saying thanks.

So, how much is it?

With very best wishes,

Shaun

Authentic Practice
helping coaches to get more clients
45 Capitol Court
Old Coach Road
Wollaton
Nottingham
NG8 1GX

Website: http://www.authenticpractice.com

Tel.: (0115) 928 3070 or (0845) 123 5105
Mobile: (07811) 262 111

---

I work with coaches who have a strong desire to help others but are currently struggling to get clients. I help them to attract more clients and create a stable coaching practice to make a difference in the world.

If you have received this copy of the Authentic Practice Newsletter from a colleague and you would like to receive future issues, then please visit http://www.authenticpractice.com/subscribe.htm. Thank you.