| Business coaches are in the business to help | | | | need to be in alignment. Price schedules or fee |
| people and to make a living. Given the explosion | | | | schedules allow for uniformity within all the |
| within this industry, there are a lot of people in | | | | services and products you offer. For example, |
| the business coaching industry worldwide. | | | | you give someone a fee on coaching. A |
| However, research suggests that most do not | | | | commitment is made and then the new client |
| exceed $50,000 annually and less than 10 out of | | | | visits your website and sees a different price or |
| every 100 make over $100,000 a year. | | | | cost for a comparable service. This discrepancy |
| If you are a business coach or executive coach | | | | can potentially begin to build suspicion within your |
| and wish to increase sales, then maybe it is time | | | | client and damage your overall relationship. |
| to construct a coaching fee schedule that looks at | | | | 5. Coaching Fee Schedule Allows Your to Raise |
| ALL of your time and not just billable hours. | | | | Your Prices Systematically: Once you become |
| These 7 reasons may help to convince you the | | | | busier, available time is reduced. By having a fixed |
| importance of such a schedule. | | | | fee schedule, you can anticipate this capacity |
| | | | issue and let your clients know that by a specific |
| 1. Real businesses Have Pricing Schedules: Have | | | | date you will be increasing your coaching fees. |
| you ever visited a grocery store or retail store | | | | 6. Coaching Fee Schedule Works with Your |
| without knowing the price at checkout. There | | | | Strategic Plan: The growth of your coaching |
| may be discrepancies in the price due to bar | | | | business should be predicated upon your strategic |
| coding, but you always know the price. The price | | | | plan. You can use the fee schedule for future |
| is not subject to negotiation. Why should you be | | | | growth projections as well as financial projections. |
| any different? | | | | 7. Why Wouldn't You Have an Established |
| 2. Coaching Fee Schedule Reinforces Your Value: | | | | Coaching Fee Schedule: You have spent a lot of |
| When you lack a coaching fee schedule, you have | | | | time working your business. Then should not you |
| subconsciously diminished your value. You begin to | | | | receive compensation for that time? A |
| give fees or prices without totally understanding all | | | | consistently applied fee schedule helps you to |
| of the time needed within the current coaching | | | | determine your actual expended work efforts |
| project or consulting project. | | | | including time researching, working on a client's |
| 3. Coaching Fee Schedule Creates Consistency: | | | | additional needs to working on your website or |
| We live in a very small world. People know people | | | | other marketing strategies. |
| and people talk to other people. By having an | | | | Of course you could do what many business |
| establish and committed to writing coaching fees | | | | coaches and executive coaches do, use the spray |
| schedule, you create consistency so that no one | | | | and pray approach to their coaching fees. Spray |
| can inadvertently slip and share a fee that may | | | | your price or fee and pray that it sticks. |
| be lower or higher than the one you quoted. | | | | However, a solidly constructed fee schedule will |
| 4. Coaching Fee Schedule Establishes a Foundation | | | | provide far more value even if it takes some |
| for Additional Product Creation: As more and | | | | precious time to develop. Take the time now to |
| more business coaches and executive coaches | | | | establish your fee schedule if you truly want to |
| offer products from coaching programs to | | | | get to where you want to be. |
| e-books or reports, these services and products | | | | |