What Do You Consider in How Much Do You Charge (series) Part 2
How much do you charge? How much are you? My first question is, How did you interpret that question? Because you could think I’m going to dive into how to set your fees… and I am. You might have had this question come up with a client and wonder, how do I answer that question. I’m going to answer that too. You also could be asked this about something you’ve never even considered, like … How much would you charge for a presentation ? What are your speaking fees? How much would you charge to create a series of videos for our membership? Or organization or to provide the movement breaks at our corporate event? If you haven’t thought about your response to any of these questions, or you really wonder how to set your fee structure when you’re starting or want to raise your rates, then this is for you. I’m going to cover each of these in a little series because the two most popular workshops I’ve hosted in my career: Offer Creation lab Coaching Hotties: The HOW-TO for menopause fitness coaches & trainers And within minutes, when I conduct a Business Better audit with our new Menopause Fitness Specialists, a couple things become clear. Many of us do not know where our biggest profit comes from. We are not creating products and setting fees in a way that puts us in a profitable position. So let’s change that. You no longer need to believe that because you’re in a service-oriented business, or that you love it, that you can’t also make a profit and have a life you love. That stops now, don’t you think? Stay tuned for the How Much Do You Charge series. Include Quality in How Much Do You Charge for a Potential Customer “I know I need you but can I afford you?” To answer that, that is similar to answering a meeting planner (from the previous episode). Have a Range Instead of “My rate is $95 an hour.” or “$95 per session for 15 sessions,” You could answer: “How serious are you?” “Did you have a budget in mind?” “How much is it worth to you?” Elaborate and Mention Inclusions Make yours a comprehensive approach. That's really coaching. That's all encompassing and a different kind of a service. “I will give you guidance on what to do, on your own as well.” or “Health coaching to monitor your diet, your stress, your sleep." “The best place to get started would be a discovery call. That's a $50 session and if you decide to step forward and we are a good fit, we apply that credit to your next step.” Give Opportunities Give them opportunities at a low level of $50. Versus, “You want to spend 90 minutes with me.” Instead of saying, “It's $3,000. There's a range that influences the fee, those include....” You could answer, “There are several things that influence how much a package or an in-depth one-time session.” The client has an opportunity to say, “I think I've got this on my own. You've given me what I need to do. I'm gonna try this on my own.” You can respond, “This is great but I want to give accountability. We can look at what that looks like.” “That’s a $500 investment. You're gonna do homework and I do too. You jump 90 minutes with me. Then I do a little more homework and send you the recommendation based on where I would start with right now, based on what you've said, and based on the criteria for increasing routine.” What Do You Offer With How Much Do You Charge? Here's the exciting part and I'm so glad you stayed with me. I have experienced that for many business pros doing something for the very first time, they've never even thought, I didn't even know I could do that – that could be my job. The reality is.. you can't teach fitness classes all day, every day. Many of us were teaching 2-4 classes a day. Maybe to cover for somebody who was sick. There was not a lot of fusion in yoga. There were not a lot of barre kinds of classes. There was primarily high impact, maybe low impact, spinning classes, but they were all fairly high intensity. We didn't do what wise yoga instructors do now, which is actually walk around and supervise and be a better teacher, not just being there doing your own workout. The reason many wanted to be fitness instructors is they would say, “I get paid for working out.” Which were most often leading to the poorest quality fitness instructors that we had. Right? It would not be about teaching, cueing and helping someone with form, instead of making sure they keep their own heart rate up or they're getting all the sets in the reps themselves. Some would say, “I’m exhausted.” “I'm doing all the workout because if I don't, they won't do that.” That's ridiculous, right? Something about her instruction is not working. You don't have to work out, even on camera. But what you do is demonstrate and watch that client. If you're a digital professional who knows how to create high quality, video, and audio. Demonstrate the technique and sequencing exercise in the way that it should be. Get all the cues in the technique. That is a combination of skill sets that the pandemic gave to you as a gift. Other Episodes of How Much Do You Charge Series: Part 1 - What Do You Consider in How Much Do You Charge (series) Part 3 - Collaboration Opportunities Impacting How Much Do You Charge Resources: Join The Menopause Fitness Fix to know what you need before you workout again! Join Flipping 50 Menopause Fitness Specialist to become a coach! Get the Flipping 50 Business Scorecard to guide you as a coach. Take the Quiz for support.
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