So in this video we know I'm going to share with you and a framework that I hope you can find to be
quite relevant.
No.
Most people earned about 90 percent of people who enroll on this course or who have enrolled on this
course in the past generally have a vision or a goal or a dream or an aspiration to at some point in
the future set up a life coach and practice or some sort of helping based project maybe a social enterprise
or something like that.
Many people may want to be more effective managers leaders moms dads are not as all equally as amicable.
What I want to share with you here in this video is a framework for pricing.
All right.
No this is about me helping you to hopefully develop a slightly better relationship with charging money
for your time.
All right.
Now it may be the case you've never done this so don't find this idea too intimidating.
All right.
I come in peace.
I want to show you four different ways that we can offer the same thing in life.
But just in different directions for different purposes and for different prices.
All right.
Remember the idea a few videos back of not putting all of our eggs in one basket.
Well it's good to have multiple offerings in life.
All right.
So as a life coach.
All right.
Or maybe the case that you're coaching other business people you want to take the idea.
The principle is a universal principle but I'm just going to apply this principle in the context of
setting up a life coaching practice which will hopefully make it more relevant for you because this
is a life coaching course.
So the first thing that we can do is we can go through a course like this.
Here's the thing if you've you've just completed this course and you think you're going to go and set
up a business and attract clients right away my friend think again.
All right.
Anything going to happen.
All right.
Well it might happen you might get a few clients but are you going to be competent.
Are you going to be able to lead people into greater degrees of insight and make progress in their lives.
Most likely not.
Not until you've got some good experience under your belt and until you've developed your competencies.
All right.
You can be as qualified as you want.
So relevant.
All right.
If you have no competence.
So once your competence once you are competent you might you most likely want to have in place a one
on one coaching plan or a mentoring plan or package something like this.
And this is where we'll offer one on one sessions or even blocks of sessions.
Now how I've done this in the past is I would generally assign a higher price rate onto onto one session.
All right.
Reason being is because what I want people to do is block a book of sessions I know from experience
that a person coming to me for one session and I'm not going to be able to care much for result in that.
There's some people want that say I'm I'm going what I want the life coach I've been speaking to a counselor
I've been speaking to a therapist I want the result right now right here and some people have come to
life coach expecting you to wave your magic wand and fix them right.
And I do that in one session that you can have breakthrough sessions.
All right but generally the first meet the heart for the person is going to be a lot more fact finding
based by nature.
So what I what I like to do is much a client's expectations and make a proposal on the journey that
I'm going to take them on.
All right.
For example even if an executive client does come to me a business person who's struggling perhaps within
their role or they're lacking in vision or in motivation something like this I'll never address them
and work with them as professionals.
I mean what does the word professional even mean.
All right.
I work with people as people saw the same process generally applies to all people all of the time.
First things first with one establish your starting points we've got to look at what the main goal is
that they want to fulfill or accomplish or achieve.
And then we've got to break it down we've got to look.
Why.
What's underpinning the goal so that we can establish how motivated they actually are to be taken the
practical action steps that they need to take to get from where they're out to where they want to be.
Now we know that once we've identified and unpacked all of this we're going to unpack all sorts of limiting
unhelpful identity beliefs about themselves that might be the case.
We have to throw in a core identity coaching process.
It might be the case that many business people entrepreneurs successful professionals in life define
themselves by their successes or by their failures in which case this is a pretty unhealthy way for
a person to define themselves.
What happens when they stop being successful.
That's right.
Boom confidence plummets.
All right.
In my experience that's generally and the outlook on life that many high achievers operate out of they
define their identity by how successful they've been in the past.
All right.
When they stop being successful their confidence plummets.
And this really act is a sticking point preventing them from moving forward into a bigger brighter future.
So I always want to propose a number of sessions four or five or six or eight.
If you're just starting out and say well let's let's go for six sessions and start there and the way
that only to price me sessions is 100 pound a session right through and put a figure out of thin air
here you obviously price as is relevant for you but with a block of sessions or reduces down to 75 pound
a session.
All right which obviously makes it more appealing to go for the block blocker sessions and how I want
to and how I would like to charge for these as we charge 50 percent up front and then 50 percent upon
completion.
No reason why it's important to take part payment upfront is because this kind of locks a parasite in.
No it's not like you're wanting to imprison a person or anything like this.
But here's the thing.
Once a person has parted with their hard earned cash the decision that they've made comes with a whole
new level of commitment.
All right.
Right back at the Star I used to book out my diary with clients who would say yes yes I just want a
coaching session and it was one day I can remember it.
I think I'd sacrifice doing like a training event or something like this and I had a bit for clients
big time a diary that day and half past nine in the morning first client didn't show up send me a text
message about an hour later I said I'm terribly sorry something came up.
My my dog was sick and the homework hence the reason I couldn't come from a coaching session.
I said OK not a problem.
That's fine.
Second client for the day was a no show.
I didn't even get a text message for them and I was talking about initial first consultations.
What I'd decided that day was no one gets my time for free ever again.
Why.
Because when we make or time or services available for free people take it for granted.
All right.
People will not value that which they think they can get for free.
So when we assign a price on to our time.
All right.
And ask for part payment upfront.
People tend to take us a little bit more serious as entrepreneurs as business people as practitioners
as human beings.
All right.
So this is just one one one basket if you like one and one the one on one plan which could be one session
or a block of sessions.
Know what I like to do.
Right.
I like to make these these packages as attractive as physically possible.
So what I would do is I would often either in a workbook the workbook the tie you used to offer.
I've actually integrated into this course which you know half we've got there was that the life balance
workbook we've got 50 questions to find your passion and purpose in life.
And I would generally give people a few resources but only once they paid their deposit.
All right.
Why.
Because then they're going to take working through the exercises a bit more seriously.
In fact a lot more seriously I shall I shall see what I often offer people as well as a check in call
between sessions.
All right.
Reason being there is because when we start the coaching relationship because of the nature of the relationship
it can get quite intimate quite quickly especially if we're you know progressive we're looking forward
to not just dwelling on the past.
And people want to be able to trust us but in the early stages of the relationship they're not going
to know what they can trust us for hence the reason we do a quick check in call and this may just be
15 20 minutes in between sessions just seeing how you go in.
Have you implemented an idea that principle that we've talked about on the weekend how you getting on
with it are you stuck have you identified anything that you'd really like us to work through in the
next session.
Again you're spurring them on to really take action but also come back.
That makes sense.
E-mail support generally.
Am I always made e-mail support available for my clients.
Beth it was very very rarely utilized especially when you're meeting people face to face the whole face
to face interaction thing is generally just a bit more meaningful but more relational than email support.
So and the check in code would often combating make that kind of irrelevant.
And what I would also do.
All right I'm going to come onto this shortly.
I would host various events workshops things like that and what I would say is for where when a Klein
books a block of sessions with me they get access or free access to my next event or my next workshop.
Right.
Whether that's been booked in a diary or whether it hasn't.
And when I first started out I used to use a Web site called meetup and I used to host meetup events
in my own living room and the first house me and Curran moved into after we got married.
Eventually then you went on to various venues and things like that and but it just seems as a perceived
added extra bonus it can just get people over over the edge.
Come on.
Everyone loves a good bargain and lived on a farm and just obviously the main point to emphasize here
is this it only applied on coaching packages no discount on individual sessions you can put me for a
day Nana no discounts.
People will say it's at your best rate but I can afford that.
I don't care what discount.
It's a block of sessions or nothing at all.
And when people say I can't afford it.
Well people will afford everything that people want to afford.
All right.
People will not afford that which they think they can get for cheaper or that which they think they
can get for free.
All right.
I'm sharing with you an absolute truth here.
It took me years to make peace with charging for my time.
Why.
Because I got absolutely sick and tired of getting taken advantage off in the early days when I used
to make my time available for a lot less and really what I should have done.
So this is just one basket.
All right.
One way that we look to to charge for our time you have to do this.
You've got to do this or you're going to struggle to keep food on the table.
So basket number B is that small group plan.
Know how I used to package this up was hosting intimate groups of generally up to seven sometimes eight
people usually seven is kind of like the sweet point.
All right.
Seven would be including me and this would mean there'd be me and six others.
So if we're having discussions or if we have breakout groups or something like that people could go
away in pairs and discuss the ideas that were played there were they were they were talking about no
small group plan is quite easy because it can just be a general discussion about anything.
And I remember in life most people are motivated by having more healthy connections and meaningful relationships
in their lives.
All right.
And when you get a group of people coming along and all chipping in you know this might be like a 20
pound or 25 pound for for a session something like this.
No that's going to be a lot cheaper than 75 or 100 pounds a session so some people might not be able
to afford this.
So say for example you're having a conversation with a client.
This is well I can't afford 75 pounds a session or 100 pound session to say that's not a problem.
Listen I've actually got a small group plan for people like yourself who perhaps can't afford you know
a one on one session with me.
So here you can be part of a group and you can meet other people who are just like you.
Also looking to grow and develop themselves in life remember is not about what we say sometimes it's
about how we frame what we say so we've got to become salespeople as well as life coaches and really
practical on you know or you're you're not going to you're not going to get ahead in this game no small
group plan it could be based around a workbook or a prerecorded video.
You know what sometimes it could even be around someone else's video.
All right.
You know why not in the early stages if you're struggling to teach and conveys with these ideas or principles
that I've shared throughout the course then use what I'm overdue is why you know why would you not want
to do this then facilitate a conversation around it.
All right.
Remember facilitating a conversation is very very different from delivering a presentation of work with
a lot of people over the years who see it but I struggle why struggle to facilitate discussions and
conversations.
And it's because they are just committed to delivering presentations or presentation is a one way monologue.
Our conversation is a two way dialogue.
So how I would host a discussion is right.
I've been watching this video this week.
And here's the principal and you know I understand this and I understand that and here's how I relate
this principal to me.
How do you guys think you could related to you and guess what happens.
People then start talking because people love nothing more than to talk about themselves.
All right.
Sometimes hosting small groups a reason why people don't do this is just a confidence thing.
Because some new coaches and practitioners worry about not having all the answers or not being able
to present for an hour and a half and it's not a boat presenting for another four and a half.
It's about just asking people questions and creating the space for other people to talk openly about
themselves.
People naturally self governance.
All right.
You'd be surprised.
So generally I would say it's an hour and a half.
Who a host led group.
All right a coaching discussion are under principle an idea.
It could be a goal setting workshop it could be anything we've shared with you loads of tools and resources
through the course so far.
You can start using right away.
Why wouldn't you.
And best thing about small groups is they can be online or they can be offline.
In fairness one to one sessions can also be online or offline.
I mean today you've got Skype which was kind of like the main online call conference and platform a
few years ago.
Today I use a platform called Zoom all right Zoom tracking actually host workshops or life training
events for anything up to like 100 people at a time.
All right.
And inside of a college yahoos these workshops as part of the membership.
But if I was hosting events or training workshops I would site I can monetize that.
So say for example I'm hosting a workshop or a art event which is kind of Virgin into basket number
four here or charge even less than what are within a small group.
I say right.
Ten dollars ahead or ten pounds ahead.
But if it's me delivering a talk or presentation or something like this and I'm using the platform assume
that I can also facilitate breakout rooms and then I can say right.
Ten dollars ahead.
Time's up by 100 people was a hundred times ten.
Go 1000 pounds or 1000 dollars for an hour and a half's work.
All right.
It's about working really effectively here it's not about working harder sometimes.
It's about working smarter is how can I use my time to impact more people.
Because here we can give our our time to one person but we're gonna be limited by what one person is
able to pay us here.
If we make our time available for multiple people who can afford to pay a lot smaller amount then we
can actually scale up and make more.
All right.
It's about working smart it's not about working hard.
It's not about manipulating people.
It's about having different levels of offering for different people's circumstances.
All right.
So you can become more affordable to more people.
All right.
Why would you ever want to have financial barriers in place.
So what I would generally say just to give you a little bit of context for your planning.
All right.
That's when it comes to hosting small groups and make sure if it's for seven people.
What I would generally look to do is I would look to to charge for a small group session enough that
would cover what I would want to earn over one or two days i.e. to two full day rates because you're
going to want to put a couple of hours into planning and preparing for the session.
You might have to book a venue or something like this.
So generally to two days worth of day rate is what you want to be attracting and charging for a few
small intimate group.
Remember a workshop or a live event gives you a lot more flexibility.
You can go and book a room in a hotel somewhere if you want to host a half day event or a conference
or you can use some of the only platforms that host it for free.
If you've got an online following.
So as long as you can do here again small groups can be for more specialist niches and your main selling
point for this is it's a lower price.
All right.
And while I will generally look at small groups and workshops or live events size it's more like sales
funnels.
And by this what I mean is you can try and can work with more people.
And if you then find one or two people who were less inclined to book a session with you upfront if
they come across here or in here and say oh my goodness this person is like super valuable I'm learning
loads of stuff from this person and they're going to have less of an issue paneer a day rate then and
every now and again you might even attract yourself an executive or a CEO.
Now here's where you want to have some sort of premium pricing structure in place.
All right.
So if I was working with a CEO or a business executive or even an organization and those not that have
done us for a couple of years.
But I can remember how excited I was the first day I made 1000 pounds in a day.
I've said for a couple of years right.
My goal is if I could just make one thousand pounds in one day that's like fantastic.
And I think I ended up good for an organization that put together a series of training events delivered
these training events and had about three thousand pound days back to back to back.
Now obviously we've had better than that since.
All right but I can remember the first time I had this general how difficult and challenging it was.
It was easier than hosting a one to one session.
All right.
All it done was a put together a few ideas.
Kind of like what a present in this course to you.
And because it discussed them and shared with the shared them with people so many times in the past
all I needed was math flip charts a couple of different color pens a few questions to invoke discussion
in the group.
And that was it.
In the end the workshop was about two and a half hours long.
I've paid a thousand pounds for two and a half hour workshop but it was only because I was perceived
as being credible in the field as being an expert.
All right.
Again that's taken quite a number of years together.
So I'm not saying it happens overnight but it does happen over time.
And executive plan when you have a premium pricing in place and if you have a Web site or it might be
the case that you do operate inside of the professional world you have customized coaching packages
for business executives and CEOs and this is going to be based around the executive coaching framework
that is shared with you.
And that last video.
All right.
It's about just tailoring your offerings.
Give them a slightly different slant or a little bit of a different context.
All right.
So I am a business executive coach.
I'm here to help you define your vision and become more effective immediately endeavors.
All right.
No that's a very broad statement.
How do you do that.
It's going to be very very practical.
Remember some people will define themselves as being all sorts of things.
Some people might define themselves as being a coach as a as a soldier.
Some people would define themselves as being a business professional.
So business professionals want professional packages.
And nine times out of 10 people who operate in high functioning roles such as CEOs company directors
then they aren't going to be paying for coaching out of their own pocket that will become a company
tax deductible expense.
All right.
I'm just spelling the safety here which means that they can afford them they're going to be more than
happy to pay you more money.
In fact many people who operate as executive CEOs especially if they are quite high earners will if
you're Putin 95 pounds or 100 pounds and your 10 hour of your time they may perceive that as being really
really cheap which would therefore then come at the cost of how credible they see you as being.
Remember price and cost is all about perception.
It's just a distorted perception game it's all perception.
Some people you'll say OK yes or no one of my team is a hundred pound and they'll say it's too expensive.
You know you're you're.
They can't afford you.
Then to some people you'll say Yeah I know what my team is 100 pounds and they'll say I'm not even going
to take a serious because that's too cheap.
All right.
So that is the reason why we want to have different packages so we don't have all of our eggs in one
basket.
You with me.
So we covered everything here.
We've looked to workshops and events again these sorts of things.
You can make and you can make some of your offerings and I quote what I used to have them on my wall
on the Web site was and I would design bespoke workshops and training events upon request.
So say for example there was one organization I worked with.
That was there were a bunch of business people.
So I am a tailor that workshop around core values I think were titled At the art of authentic leadership
or something like that and just centered around the idea of core values.
No I didn't present the idea of core values any differently than I would have done in this course.
But I just framed it you know and spoke to a group of business professionals they loved that.
All right then we had a few goals and exercises words and envisioning exercise.
And that was it.
And other events sort of tailored to working with young people who've perhaps come through the care
system.
And yes I talked about values but not to the extent that I discussed values in this course.
I just dumped it down I told a few stories give a couple of exercises.
Why.
Just appreciating that different people have different capacities to absorb and retain ideas or information.
All right.
So and all of this is about our willingness to be flexible in our approach and also in how we're willing
to package up our offerings as life coaches.
So I've mentioned all these things can be used as sales funnels.
It's just like just an idea.
All right.
We're just about Bush in the end of this section of the course.
No I'm not going to go into any more depth than this but what I am responding to what I have responded
to are many of the most common business related questions that have been asked over the years in earlier
versions of this course.
And as I've mentioned you might be watching this right now thinking that setting up a business is perhaps
light years away.
Well that's OK.
Remember you're can have lifetime access to this course you can always come back and revisit you know
it's here.
All right.
So listen I hope you find this idea helpful and I look forward to seeing you again in the next clip.