How do you respond when a prospect asks about your coaching fee? When a potential client asks you what you charge, do you:
- Mention a price and then lower it before your prospect has a chance to respond?
- Apologize before the amount leaves your mouth?
- Cringe as you await a response?
I’ve done all of these things and more.
For years, a pit in my stomach accompanied my stammering voice when I quoted my fees. The aroma of fear would waft through the phone, and my potential clients could smell it from hundreds of miles away.
My fear fed their uncertainty, and turning prospects into clients was rare. Who wants to work with a coach lacking confidence in what she does?
My calendar remained empty, and few people found help. Desperate to find a better way, I asked myself five questions to clarify what I should charge and why.
Today, I’m happy to report that when the phone rings, I can confidently quote my coaching fee without flinching or fear.
To Determine Your Coaching Fee, Ask Yourself These 5 Questions
You can, too, by simply working through the questions below.
1. Why did God call you to become a coach?
God led you into coaching as part of His greater plan. Does He want this to be your ministry or your business?
If coaching is a ministry, your prices can reflect the needs of those He’s called you to serve. But if coaching is your business, your primary means of support, then profitability must be top of mind. Similarly, if God’s calling involves both giving and earning, you’ll need to take both into account.
2. Who is God calling you to serve?
All niches are valuable, but not all niches are equally profitable. Out-of work, single moms can’t pay the same for coaching as jet-setting executives in Armani suits.
Remember, you can only charge what your target group is willing and able to pay.
3. How many clients do you want?
Christopher McCluskey, founder of the Professional Christian Coaching Institute, has said that new coaches would benefit more from having ten clients that pay $100 a month then from having four clients who pays $250 a month.
Why? Because working with a larger number of people helps new coaches hone their skills, spreads the word about their businesses, and allows them to accumulate hours towards certification.
Once a coach’s practice stays consistently full, he can begin increasing his fees as new clients enroll.
4. What are other coaches in your niche charging?
When I was struggling to set my coaching fees, it felt like driving a car with square tires. Why was I trying to reinvent the wheel?
Experienced coaches had traveled this road and thought through the proper balance between profitable and fair. So, I interviewed colleagues who shared my niche to learn what they already knew.
If you are new to coaching, you can find godly, seasoned coaches in my Christian Coaches Community Facebook group. Look for it on Facebook, and request to join.
Adopting a proven pricing model just makes sense.
5. What does God want you to charge?
Even after asking myself the four questions above, a general uneasiness about my pricing dogged my steps.
I still needed to ask one last question to gain confidence and peace.
“God, what do You want me to charge?” Once I knew that, my fears quieted, and the pit in my stomach disappeared.
How Do You Determine Your Coaching Fee?
Unfortunately, there is no one-price-fits-all solution for every Christian coach. But by prayerfully answering the five questions above should give your pricing process the firm foundation it needs.
Isn’t it time you had clarity, confidence and peace about what you charge?
What factors go into the prices you charge?