Flexible Pricing in Coaching: Breaking the Myth of "Top Dollar" Value

The coaching industry has an obsession with top-dollar pricing. There's this pervasive notion that if clients don't pay full price, they won't value the work. Spoiler alert: this myth is driven by coaches talking to coaches, intentionally leaving clients completely out of the conversation.

The Real Talk on "Charging What You’re Worth"

"Charge what you're worth!" is the battle cry heard across coaching forums and social media groups. But here's the kicker: these discussions are echo chambers. Coaches preach to other coaches about maintaining high prices yet fail to consider market realities like market pricing, saturation, and client affordability. The idea that one can magically set prices based solely on self-worth without any economic consideration is not only naive but also dangerous. Not to mention, it is nonsensical fluff when you try actually to do it.  How do you price worth based on a feeling of worthiness?  You can’t. It sure sounds good in the pep talk portion of a marketing mastermind, but in reality it’s just a string of words with no foundation to work from. 

The Problem with Vanity Pricing

Vanity pricing—charging as much as you can just because you can—is a risky business model. Sure, it might work for a handful of elite coaches, but for the majority, it’s a fast track to an empty client list. Pricing should reflect the value provided, market conditions, and accessibility. Overpricing can alienate potential clients and stunt your business growth. 

Maybe, just maybe, if you get your marketing on point and everything, including the stars are lined up just right, vanity pricing might work once or twice, but it will not yield a sustainable client stream, repeat business, or referrals - you need those things to succeed. 

The Case for Flexible Pricing

Flexible pricing isn't about looking cheap or desperate; it's about being smart and accessible. It's a growth strategy embraced by various industries, allowing businesses to cater to a broader audience. Here’s how flexible pricing can help build a sustainable coaching practice:

1. Sliding Scale Fees: Offer a range of pricing options based on the client’s financial situation. This approach not only broadens your client base but also fosters goodwill and loyalty.
2. Package Deals: Provide discounted rates for clients who commit to longer-term packages. This ensures a steady income stream while offering clients better value.
3. Scholarships and Pro Bono Work: Allocate a percentage of your time to clients who genuinely cannot afford your services. This not only builds your reputation but also aligns with ethical practices.
4. Early Bird Discounts: Offer lower rates for clients who book and pay in advance. This incentivizes commitment and helps with cash flow management.

Moving Forward

It’s time to ditch the magical thinking and vanity pricing. Embrace flexible pricing as a strategic tool to grow your coaching practice. It’s not about devaluing your work; it’s about making your services accessible and building a diverse client base. Remember, the goal is to help people—not just those who can afford top dollar.

The Coaching Guild is a coach training program specifically designed to nurture dreamers, artists, creatives, outsiders, rebels, and good troublemakers. It is a multi-instructor, multi-disciplinary approach to training that prioritizes learning innovative foundational coaching skills and marketing training.

If you are interested in coach training done very differently, hit me up for a no-pressure, no BS, no trip, and fall into a sales funnel conversation. Let's talk about what's possible for you as a coach.

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