You’ve chosen to be a consultant or a coach because you have the knowledge, the skills and the expertise to make a positive impact on someone’s personal or business life. Unfortunately, when it comes to valuing your insight you fall short.
How many times have you sat down with a potential client and after hours of engaging, productive conversation and problem solving, they are blown away with your insight? You gave them your all and when it was all said and done you received a new Facebook friend but not a new client.
Here’s the deal; if you don’t put a financial value on your experience and your time, nobody else will. Knowing what you are worth as a consultant or coach can mean the difference between helping others or going out of business.
Setting your fees can be a struggle. What’s too much? Not enough? What do you do? Remember, your value is defined by the type of clients you serve and the benefit you provide. What is the solution worth to the client? Will the results you provide save them time, money or pain?
Your time is a limited commodity so don’t be afraid to charge a premium price. Remember the prospect is looking for a solution to a problem. If you are the answer then you are invaluable to them. In fact, when you charge a higher price people often perceive greater value.
When people find value in something, they treat it differently, they show respect and use it wisely. If your clients have pay a premium price for your time, they are more committed to the process which in turn produces a greater result for them. Selling is serving.
If asking for the money is uncomfortable for you, try a more formal approach. Schedule a 30 minute call with the prospect and walk them through a questionnaire. This allows you to keep the conversation on track and to determine if the prospect fits within your specialty. Then it’s just a matter of giving them a quote for your services.
Remember, you got into your profession because you have something to give but that doesn’t mean you have to give it away for free.