#1 Mistake Coaches Make With Pricing

I want to share with you what I believe is one of the biggest pricing mistakes health coaches make with their offers.

If you are somebody who finds that you’re not really getting paid what you feel you’re worth, and are undervaluing your service or expertise, I think this will make a lot of sense for you.

 

The Plumber Analogy

I want to share a story with you. You may have heard something similar to this in the past. You have a leak in your pipe, in your bathroom pipe. It’s leaking. Something is not working with the faucet. So you call a plumber over to fix the pipe.

The plumber comes over. He looks under the sinks. Finds the issue. Gives it a little tap, and 30 seconds later it’s all good. He then writes up an invoice and voila, $300 later, you’re like, “What the heck just happened? You were only here for like two minutes, and you gave me a $300 invoice. How does that make sense?”

Well, it makes a lot of sense, because, you see, the plumber had spent probably a decade learning exactly where to hit the pipe to fix the problem.

That’s the whole lesson I want to share with you is that our clients are paying us for results, not for the amount of time, or the stuff that we’re giving them. That’s a really important distinction.

 

Less is More

I think this is probably more common in the health and fitness space than in any other industry, because we always want to serve and help everyone. We want to give so much. So we end up creating courses that have 1000 hours of videos, and all these PDFs, and all these workouts, and all this stuff, and quite honestly it’s too much.

It’s overwhelming, and when people feel overwhelmed, that’s one of the biggest reasons why they don’t move forward, or they request refunds.

I want to challenge you to think about, what is the minimum viable product that you can create? When I say product, I really mean offer. It can be a service, coaching program, and so forth. What is the minimum that you can offer to create the maximum result for your clients?

I know that sounds like you’re cheating people out of whatever it is, but you’re not. You’re actually doing a service by giving them less. People don’t want more stuff. We’re overwhelmed with things. We’re overwhelmed with information, with to-dos.

Your goal as a coach is to simplify complexity, and to provide clarity and confidence. That doesn’t have to mean ten different things, it might just mean one.

So in everything you create, think about, “Is this moving my client closer to their goal, or is it just more stuff for them to do? If it’s just more stuff for them to do, don’t include it.

Think about this. You get paid for the results you produce for your clients. How do you put a price on improving somebody’s health? How do you quantify that? It’s very tough to quantify.

That’s the dilemma. A lot of health experts have a tough time putting a price on helping someone lose weight, helping someone overcome heart disease, helping someone prevent dementia, because there’s no ROI attached to that.

 

Outcome Based Pricing

If we saw something that’s going to help someone make money, we think that we can charge more for that.

The reality is that the things that we can’t quantify, the intangibles, are the most priceless things in life. Love, happiness, relationships, health, these are the things that can command the highest prices.

It’s your job to be able to articulate your offer, your message, in a way where the right people say, “You know what? This make a heck of a lot more sense than trying to get an answer from a $7 e-book.”

So that’s the goal, okay? That is the number one mistake people make with pricing, is that they price based on deliverables, and not the outcome or result they can produce for their clients.

 

Accelerator Phone Call

Here’s the rub — the more people pay, the more they’re going to pay attention, the more committed they’re going to be to the results that you can help them get.

I know you know this deep down inside, but maybe you’re thinking to yourself, “Oh my God. People are not going to pay me $5000 to help them lose weight, or help them improve their health.”

Well, perhaps not in the way you’re offering it, but we have clients right now who are selling packages, up to $15,000 in the health and wellness space. They’re absolutely transforming their clients’ lives.

Not everyone is selling at that price point. We’ve got people that are selling two, three, five thousand dollar packages.

The key is that if you want to live the life of your dreams, it’s not going to happen by selling $10 e-books, unless you have a massive amount of volume that most people simply don’t have.

Would you like us to help you craft an offer that can command premium prices, two, three, four, five thousand dollars or more?

If you’d like our help to you go from where you are to where you want to be — to help you figure out the ultimate offer for your clients and how to put together a program that can really be a major win for them, and something you can be extremely proud of, or maybe take something you already have and make it even better, I invite you to book a call with us.

If you already have a course that you’re selling for $97, that very same course can be turned into an amazing coaching program that, if delivered properly, and priced properly, will attract the right people and transform their lives.

If you’d like our help to do this, then book a call with us today.

We offer a free 45 minute result accelerator call. It will change the way you look at your business.

I guarantee will be the best 45 minutes you’ve spent on your business in the last who knows how long.

Book your call today. We look forward to chatting with you.