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Coaches – Skyrocket Your Value in 7 Days Or Less
by Tom Buford
Increasing the value of your business is a quick ticket to more profits. One of the fastest ways to begin charging what you deserve is to improve your self-confidence and when you perceive the value of your business increasing, it becomes much easier for you to ask for the fees that you deserve.
Here are 4 ways that you can add value, both real and perceived, to your business that will also save you time and earn you more money.
1. Create a content-rich ezine or newsletter
Writing a regular newsletter or ezine (e-magazine or online newsletter) is a great way to stay in contact with prospects and clients. By offering useful information for your subscribers, you are immediately adding value to your business.
Create a FREE report or some other “tasty” offer that would be of interest to your prospects. In exchange for the report, prospects opt-in by leaving their name and e-mail address. Now you can continue to offer them great, useful information and announce any product or service offers that you have through your newsletter.
2. Hire a virtual assistant
A virtual assistant, or VA, is a work-from-home service professional that will handle administrative and office work for a variety of different clients. Because they work with several clients at a time, you don’t have to be responsible for 40 hours a week worth of work to make them happy. To start with, you may hire a VA for 4-6 hours a month, but the return on investment is wonderful.
This is a great way to save time and effort on tasks that you shouldn’t be putting your energy into. They will do the job better and more efficiently. This in turn helps you to build a more valuable business.
3. Create a group program or tele-seminar series
Adding a group program is as easy as holding a series of tele-seminars or workshops. This allows clients that wouldn’t normally pay for the more expensive one on one time a chance to learn from you. It doesn’t matter whether you are a coach, consultant, speaker or a private chef. There is SO much information that people need to learn that you have in your head, any service professional can put together a group coaching/mentoring program.
4. Interview known experts
Imagine all of the great content and information that you can pass on to clients and prospects that you learned first hand from experts in or around your industry.
So, how do you go about getting an interview with an expert?
Do you have e-mail? Do you have a telephone? They probably do too. Remember, all of the “experts” out there started somewhere. Be persistent and don’t be shy. What’s the worst that can happen by asking for a ten minute phone interview? They can say “No”. That’s the absolute worst thing that can happen.
Use the 6-degrees of separation principle. Ask your friends and colleagues who they know that they could introduce you to. This has worked with AMAZING success for me.
So, what do you do now?! I suggest sitting down with a pen and paper and mapping out exactly how you want to achieve at least two of the steps above. Be clear on your purpose. You want to create additional value for your clients.
Also, start thinking of other ways that you can increase the value of your business.
| I mention four in this article but I go into much more depth in my Charge What You Deserve Coach in a Book which can be found on my website.
Until next time. Cheers and Success |
3 Tips to Overcome Nerves When Discussing Your Fees
by Tom Buford
Most of us get a little nervous when discussing our fees. Some of us get VERY nervous. A little case of the nerves is always fine, but when it gets to the point that you try to avoid the subject of your fees altogether it becomes damaging to your business. Many of you reading this have probably been in that situation at least once. I know I have!
Here are some tips to help you manage your nerves when discussing your fees with prospects.
1. Say it until you can say it with a straight face
Literally repeat your fees to yourself until it becomes a reflex. Say it out loud. In the mirror, while you’re in the shower, while you’re driving down the road, whenever. Just keep saying it until you take yourself seriously. If you can’t take yourself seriously when it comes to what you charge then don’t expect your prospects to.
2. Offer multiple pricing options so you don’t have to discuss specific fees too soon
If you offer multiple solutions for your clients’ problems, then you can honestly tell prospects that you have several levels of services and products and you would like to get more information about their needs first. This allows you time to build a stronger rapport with your prospects as well.
3. Emphasize value and not process when talking with prospects
This is critical. Nobody wakes up one day and says, “Wow, I’d really like some coaching or consulting today.” In the simplest terms, what they want is out of pain and into pleasure. Period. Always emphasize the value that your service offers, not how many times a month you will meet and how long each meeting will last. When you develop the habit of discussing value, you will begin to recognize more and more how much your service is really worth and you will stop being hesitant about discussing your fees.
Remember. Set your fees based on value and with integrity. The business will follow.
“No one can make you feel inferior without your consent.”
~Eleanor Roosevelt
Coaches, Raise Your Fees – 3 Critical Reasons to Increase Your Income
by Tom Buford
Owning a coaching business can be very rewarding and lucrative. Unfortunately, too many coaches turn their businesses into struggling headaches. One of the key components to being a successful coach is knowing what to charge and how to get it.
There are many talented coaches out there who are constantly undervaluing their services and facing the ugly reality of going out of business. I don’t care whether you’re a business, executive, family, relationship, life, or any other style of coach-you need to take a good hard look at what you’re charging before it’s too late and you’re forced to find another way to earn a living.
Raising your fees not only helps make YOU more prosperous and fulfilled, it can help make your CLIENTS more prosperous and fulfilled.
I’ve identified three critical reasons why you should raise your coaching fees.
1. Your clients will get more value out of their coaching relationship with you.
Perceived value is a powerful concept. It’s been ingrained into our heads that you get what you pay for. Charging too little for a valuable service such as coaching is a lose/lose situation for client and coach. Here are just a few reasons why your clients are losing out:
They have a low perceived value of the coaching relationship
They will “go through the motions” because they are not truly invested
They can come to their sessions with the wrong energy
They may not use the “gifts” that coaching has to offer
Here’s an example of how it works-one I experienced myself. I recently met a coach who was having business issues. She wanted to start cranking out a newsletter and get her website up and running, but she didn’t know where to start. While I was going through my coaching certification program, I noticed many coaches were having a difficult time getting the basics of their business set up, so I wrote the e-book “From Lazy to Loaded: Business Success Blueprint for Coaches and Consultants”
Because she didn’t know where to start, I wanted to help this particular coach out, so I sent her the e-book for free. It had all the answers to her problems and I thought that I was doing her a favor by not charging her for the book. A couple weeks later she called and said she was having problems getting her newsletter started. I asked if she read the e-book and she said that she hadn’t, and she wasn’t even sure where to find it on her computer so I sent her another copy. Two weeks later the same thing happened. I kid you not! I couldn’t believe my ears. She was asking me questions about the exact same problems and once again I asked if she had read the e-book and again the answer was “NO.”
I would bet dollars to doughnuts that if she had paid $500 for the book that I sell for only $49 she would have gotten thousands of dollars of information out of it. This is the way most human beings operate. If you don’t pay for it or if it comes too cheap, it must not be very valuable. The information doesn’t have to be any different, but the clients receive the information on completely different levels.
2. You will be perceived as a more high-powered coach.
Raising your fees is one of the quickest ways to be perceived as an expert in your field. Let’s face it. You never want your clients running around saying, “Yeah, my coach is really cheap.” I had a conversation with a coach the other day who has been having trouble picking up new clients-and she’s stressed out because the clients she does have are driving her crazy.
This coach thought I was nuts when I told her that the last thing she needs to do is lower her fees to pick up new clients. I explained to her that all she will be doing is devaluing her service (which reflects on the entire coaching industry) and the clients that she does attract will stress her out even more than those she is working with presently.
Would you consider hiring a coach that was only charging $50 a month? Probably not. Yet when you see a coach who’s charging $1000 per month and beyond, you probably think they are an expert and you are eager to learn more about them. For all intents and purposes this could be the same coach, but now you have a completely different perception of them.
So, how do YOU want to be perceived?
3. You want to differentiate yourself from your peers.
Raising your fees is a fantastic and FUN way to stand out from the “competition.” I can’t think of anything more exciting than making more money and lowering my blood pressure at the same time. 
When you are charging the same as all of your peers, you might as well just have your name thrown in a hat with the names of all the other coaches, and your prospects just reach in to see who they pick. You blend right in with everybody else. To be a successful coach you do NOT want to blend in. You want to be noticed.
When prospects see that you aren’t charging the “same old same old,” they WILL take notice. They will begin thinking that you have something the other coaches don’t and that they can get more value out their relationship with you. And if that’s what they believe, then that’s exactly what will happen.
Here are a few ideas to think about:
Give yourself permission to raise your fees.
Recognize that your clients are OK with it and will, in fact, benefit.
Overcome the emotional barriers that are preventing you from creating a prosperous coaching practice.
Become comfortable with communicating your new fees.
Learn how to retain your existing clients when raising your fees.
Although it may take a little while to change the way you look at your fee structure, it’s definitely worth considering now instead of later. The fact is, you’re not doing yourself or your clients any favors by not charging what you’re worth. By offering a “discount” or “waiting until the client is established” to charge what you deserve, you’re de-valuing the important work that you do. Instead, consider the value you provide your clients and think about how you can create a fee structure that not only works for you and your client, but benefits the both of you.
Expert Interview with James Roche
James Roche, The Info Product Guy, is the only info marketer in the world who can “Coach The Product Out Of You.” He combines his unique background of over 12 years as an artist, coach and marketing expert to help entrepreneurs get more clients and earn more income using information products.
Listen to James as he describes exactly how to price your information products and how he uses a marketing “funnel” to attract eager clients into his high-end coaching programs.
I created the Accelerated Action Guides to accompany the Charge What You Deserve Expert Interviews so that you can save time and jump right to key spots in each interviews.
That said there is amazing content mixed in to each of the interviews that I couldn’t take the time to highlight. I strongly urge you to listen to each interview one at a time from beginning to end at least twice to get the full impact from the business altering content provided.
To your success!
Tom Buford
“The Fee-Setting Go-To Guy”
ChargeWhatYouDeserve.com
Download your Accelerated Action Guide here
Expert Interview with Suzanne Falter-Barns
Suzanne Falter-Barns is best selling self-help author, former New York City journalist and marketing consultant who helps coaches package their businesses for maximum credibility and platform.
“Don’t be all about the price. Be about the quality you are delivering and then the price will naturally follow” ~ Suzanne Falter-Barns
8:02 into our interview Suzanne explains how she transformed her business from charging $200/hr to charging $750/hr. What is so remarkable is that anyone can repeat these steps.
I created the Accelerated Action Guides to accompany the Charge What You Deserve Expert Interviews so that you can save time and jump right to key spots in each interviews.
That said there is amazing content mixed in to each of the interviews that I couldn’t take the time to highlight. I strongly urge you to listen to each interview one at a time from beginning to end at least twice to get the full impact from the business altering content provided.
To your success!
Tom Buford
“The Fee-Setting Go-To Guy”
ChargeWhatYouDeserve.com
Download your Accelerated Action Guide here
Expert Interview with Fabienne Fredrickson
Fabienne Fredrickson, founder of www.ClientAttraction.com and creator of The Client Attraction System™, went from a mediocre private practice to one bursting at the seams, in less than 8 months! She then did it again with a second practice a year later, again filling it to capacity in less than 8 months. Fabienne is on track to surpass 7-figures this year alone.
“If you only have one rate you either fit what people expect you to be charging or they walk away.” ~ Fabienne Fredrickson explaining how important having multiple solutions for our prospects is.
I created the Accelerated Action Guides to accompany the Charge What You Deserve Expert Interviews so that you can save time and jump right to key spots in each interviews.
That said there is amazing content mixed in to each of the interviews that I couldn’t take the time to highlight. I strongly urge you to listen to each interview one at a time from beginning to end at least twice to get the full impact from the business altering content provided.
To your success!
Tom Buford
“The Fee-Setting Go-To Guy”
ChargeWhatYouDeserve.com
Download your Accelerated Action Guide here
Expert Interview with Donna Kozik
Donna Kozik, founder of www.MyBigBusinessCard.com, shows coaches how to create a lead generator that attracts clients like crazy…a book. She also shows them how to establish their expertise and stand out from the competition. Donna has been able to successfully and consistently raise her private coaching fees and get them.
I created the Accelerated Action Guides to accompany the Charge What You Deserve Expert Interviews so that you can save time and jump right to key spots in each interviews.
That said there is amazing content mixed in to each of the interviews that I couldn’t take the time to highlight. I strongly urge you to listen to each interview one at a time from beginning to end at least twice to get the full impact from the business altering content provided.
To your success!
Tom Buford
“The Fee-Setting Go-To Guy”
ChargeWhatYouDeserve.com
Download your Accelerated Action Guide here
Expert Interview with Adam Urbanski
Adam Urbanski, president of Marketing Mentors, immigrated to United States from Poland in 1989 with only $194 and limited ability to speak English. 10 years later he had created a 7-figure business and now trains service professionals how to do the same.
Discover exactly how Adam went from charging $250 per hour to making $2000 an hour while actually attracting more clients.
“My fees had nothing to do with my longevity in the business.” ~ Adam Urbanski explaining why service professionals don’t need years of experience before they can effectively charge more and get it.
I created the Accelerated Action Guides to accompany the Charge What You Deserve Expert Interviews so that you can save time and jump right to key spots in each interviews.
That said there is amazing content mixed in to each of the interviews that I couldn’t take the time to highlight. I strongly urge you to listen to each interview one at a time from beginning to end at least twice to get the full impact from the business altering content provided.
To your success!
Tom Buford
“The Fee-Setting Go-To Guy”
ChargeWhatYouDeserve.com
Download your Accelerated Action Guide here
Inner Circle – Bonuses
Here are your bonuses for signing up for the Charge What You Deserve Inner Circle.
Enjoy!
| The Lifestyle Fee-Setting Formula (Bonus offer) |
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Facebook Secrets Teleclass Audio (Bonus offer)
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From Lazy to Loaded |
3 Reasons Information Products can help you to Charge What You Deserve
Information products are a great way to create passive revenue and generate interest with joint venture partners. But they can also be used as a great way to leverage your expertise to begin charging what you deserve. I am going to share 3 reasons why an information product can help you to charge much more for your higher-end programs and services.
But first of all, what IS an information product? Simply put, an info product is a print, audio or video (or combination of any of the three) product that shares information on a specific topic.
I’ve created several information products and aside from being a simple way to add a solid stream of income to your business, they’re also a great way to begin Charging What You Deserve for your higher ticket programs and services. Here are 3 reasons why.
1. Information products increase the “know, like and trust” factor.
Most people are going to have to get to know, like a trust you a bit before dropping hard-earned money on your higher-end programs. Info products are a great way of building this relationship with your market. Your prospects can get a taste of your message, approach and competency before taking the next step.
2. Information products get people to “raise their hands.”
Once people spend money with you once, they’re far more likely to invest in other programs than those who haven’t; provided, of course, that you share quality information. Keep in mind that it’s always easier to retain current customers and clients than pick up new ones as long as you use good follow-up techniques.
3. Information products help you to hone your message and create a “system” that you can share with your market.
This is critical to charging what you deserve. When you create programs with a beginning, middle, end and intended result you can charge much more and get it!
Often as service professionals we can get bounced in 100 different directions. A simple info product makes us take the time to sit and map out our message on a specific topic. But it doesn’t have to take very much time.
Here are 5 simple steps to creating an information product:
1. Survey your list and ask them what their biggest pain, fear or desire is
2. Take the hottest response and create a 5-step solution or process around it
3. Hold a free teleclass on the 5-steps and record the call
4. Get the audio transcribed and have a design made for the cover
5. Sell your information product
It really IS that simple and I’ve brought in thousands of dollars from information products and this is one of my favorite methods for creating them. It’s a simple and incredibly quick way to create products over and over.
Cheers
Tom
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