Short video/transcript by Andy Neary advising coaches and service providers not to let clients' budgets dictate their prices. He argues pricing should reflect the size of the problem solved and the resulting emotional and financial impact, and invites other coaches to share how they set and defend their value.
Chapters
Alright, I got a question for the LinkedIn community and I'd love your feedback. Especially if you're a coach, you offer a service or product. You ever catch yourself allowing the value of your service to be determined by the size of other people's checkbooks? I had this happen a couple times the past few weeks where somebody was looking at my coaching, they said, man, I have to admit, I had a little sticker shock when I saw what you were charging and it caused me to pause and go, am I charging too much? But then I sat there and I thought, I said, no, no, no, wait a second. You see, I know the problem I'm helping you solve. I know how big that problem is in your life right now, especially financially, because you're not solving it. And I know what kind of impact I'm going to have on your life, both emotionally and financially by helping you solve it. So my fee, my service, my price is damn worth it. And I give you that same advice today. If you're catching yourself right now allowing the value of what you do to be determined by other people's checkbooks, stop right now. I see this happen all the time. In the insurance industry, advisors let their clients tell them what they're worth and the only thing that happens is that it becomes a race to the bottom. You end up making no money and you're busting your butt not worth it. So you're a coach, you have a service, you have a product, you don't know what to charge. Think about the problem you're solving, think how big of that problem is for people today and think about what that results gonna look like when you help them solve that. Because the bigger the problem, the bigger the impact you're going to have, the bigger the value of your service. It's that simple. Alright, so if you're a coach, you have a product, you have a service, weigh in, I'd love to hear from you because I struggled with this lately. I know it's something a lot of coaches struggle with, a lot of people who offer a service struggle with. So let me know what you're doing today to make sure the value of what you offer is well worth the price people are paying to get the result they want.
