Business Coach or Executive Coach: These are the Top 7 Reasons Why You Need A Pricing Schedule
Business Coach or Executive Coach: These are the Top 7 Reasons Why You Need A Pricing Schedule
If you are a business coach or executive coach and wish to increase sales, then maybe it is time to construct a pricing schedule that looks at all of your time and not just billable hours. These 7 reasons may help to convince you the importance of such a schedule.
Reason #1: Real businesses Have Pricing Schedules
Have you ever visited a grocery store or retail store without knowing the price at checkout. There may be discrepancies in the price due to bar coding, but you always know the price. The price is not subject to negotiation.
Reason #2: Pricing Schedule Reinforces Your Value
When you lack a pricing schedule, you have subconsciously diminished your value. You begin to give prices without totally understanding all of the time needed within the current coaching project or consulting project.
Reason #3: Pricing Schedules Creates Consistency
We live in a very small world. People know people and people talk to other people. By having a pricing schedule, you create consistency so that no one can inadvertently slip and give a price that may be higher than the one you quoted.
Reason #4: Pricing Schedules Establish a Foundation for Additional Product Creation
As more and more business coaches and executive coaches offer products from coaching programs to e-books or reports, these services and products need to be in alignment. Pricing schedules allow for uniformity within all the services and products you offer. For example, you give someone a price on coaching. A commitment is made and then the new client visits your website and sees a different price for a comparable service. This discrepancy can potentially begin to build suspicion within your client and damage your overall relationship.
Reason #5: Pricing Schedules Allow You to Raise Your Prices Systematically
Once you become busier, available time is reduced. By having a fixed pricing schedule, you can anticipate this capacity issue and let your clients know that by a specific date you will be increasing your coaching fees.
Reason #6: Pricing Schedules Work with Your Strategic Plan
The growth of your coaching business should be predicated upon your strategic plan. You can use the pricing schedule for future growth projections as well as financial projections.
Reason #7: Why Wouldn’t You Have a Pricing Schedule
You have spent a lot of time working your business. Then should not you receive compensation for that time? A consistently applied pricing schedule helps you to determine your actual expended work efforts including time researching, working on a client’s additional needs to working on your website or other marketing strategies.
Of course you could do what many business coaches and executive coaches do, use the spray and pray approach. Spray your price and pray that it sticks. However, a solidly constructed pricing schedule will provide far more value even if it takes some precious time to develop.
If any of these reasons may sense to you, then take the time now to establish your pricing schedule if you truly want to get to where you want to be.
Business Coach or Executive Coach These are the Top 7 Reasons Why You Need A Pricing Schedule - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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Business coaches are in the business to help people and to make a living. Given the explosion within this industry, there are a lot of people in the coaching business coaching industry worldwide. However, research suggests that most do not exceed $50,000 annually and less than 10 out of every 100 make over $100,000 a year.
If you are a business coach or executive coach and wish to increase sales, then maybe it is time to construct a pricing schedule that looks at all of your time and not just billable hours. These 7 reasons may help to convince you the importance of such a schedule.
Reason #1: Real businesses Have Pricing Schedules
Have you ever visited a grocery store or retail store without knowing the price at checkout. There may be discrepancies in the price due to bar coding, but you always know the price. The price is not subject to negotiation.
Reason #2: Pricing Schedule Reinforces Your Value
When you lack a pricing schedule, you have subconsciously diminished your value. You begin to give prices without totally understanding all of the time needed within the current coaching project or consulting project.
Reason #3: Pricing Schedules Creates Consistency
We live in a very small world. People know people and people talk to other people. By having a pricing schedule, you create consistency so that no one can inadvertently slip and give a price that may be higher than the one you quoted.
Reason #4: Pricing Schedules Establish a Foundation for Additional Product Creation
As more and more business coaches and executive coaches offer products from coaching programs to e-books or reports, these services and products need to be in alignment. Pricing schedules allow for uniformity within all the services and products you offer. For example, you give someone a price on coaching. A commitment is made and then the new client visits your website and sees a different price for a comparable service. This discrepancy can potentially begin to build suspicion within your client and damage your overall relationship.
Reason #5: Pricing Schedules Allow You to Raise Your Prices Systematically
Once you become busier, available time is reduced. By having a fixed pricing schedule, you can anticipate this capacity issue and let your clients know that by a specific date you will be increasing your coaching fees.
Reason #6: Pricing Schedules Work with Your Strategic Plan
The growth of your coaching business should be predicated upon your strategic plan. You can use the pricing schedule for future growth projections as well as financial projections.
Reason #7: Why Wouldn’t You Have a Pricing Schedule
You have spent a lot of time working your business. Then should not you receive compensation for that time? A consistently applied pricing schedule helps you to determine your actual expended work efforts including time researching, working on a client’s additional needs to working on your website or other marketing strategies.
Of course you could do what many business coaches and executive coaches do, use the spray and pray approach. Spray your price and pray that it sticks. However, a solidly constructed pricing schedule will provide far more value even if it takes some precious time to develop.
If any of these reasons may sense to you, then take the time now to establish your pricing schedule if you truly want to get to where you want to be.
Business Coach or Executive Coach These are the Top 7 Reasons Why You Need A Pricing Schedule - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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Dianne CramptonDianne Crampton is an executive leadership coach, team consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. - Visit Dianne Crampton's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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