3 Mistakes new business owners make when it comes to pricing and creating products.
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I still remember her words: " I can't stand coaches with ridiculously high prices" .....
I felt like someone dropped a huge stone on me and I became speechless for a moment....
It was my friend who said it a good few years ago. I was in my business for a few years at that time. Working really hard, not only in my business but on myself too, and juggling my home and two young kids.
At that moment I heard her words, I was like: " She is talking about me".
Even though she wasn't. She was commenting on some coach she wanted to work with.
Looking from hindsight, I see this whole situation differently and, through all the years growing and evolving, I wanted to encourage you to not make these 3 mistakes:
1. Remember you will always be too expensive or too cheap for someone.
People's beliefs & perceptions around money shouldn't be your money guide.
You can't make everybody happy, but you can live in financial alignment with yourself and your values.
2. People pay you for results not time, so I don't recommend charging per hour. You are doing a disservice to yourself and others when you charge per hour. Very often, clients put unrealistic expectations on coaches wanting help to sort out their 20 years of life or business mess in one hour session.
Value yourself and your time enough, and remember that when you give yourself permission to charge your worth you are modeling the same to your clients even though they may get initially triggered, which is also a great opportunity for coaching work and helping them expand in the area of finances.
3.Remember you are not responsible for your' clients results so from the very beginning model independent relationship between you and your clients. Loving detachment. You deeply love and care about your clients and their results, but you are not there to be their parent and take on their responsibility. I have seen this happen a lot, and especially in new businesses, when new coaches care more about client results than clients themselves, which very quickly leads to the coach being burnt out and the relationship turning awkward where the coach feels like guilty failing parent.
Your job is to hold your clients empowered and practice compassionate detachment because you deeply care about your clients.
Lastly, be loving, kind and compassionate to yourself. Allow yourself to make errors and mistakes and mostly allow yourself to grow your business feeling joyful and excited without comparing yourself to others. I hope you found this post helpful and if you want to dive even deeper, learning about your limiting money beliefs here is a very helpful free training https://www.subscribepage.com/a7t7o8 or maybe you have some questions?
Feel invited to connect with me.
I would love to get to know you and your business. Much love.