How to Price Your Coaching Sessions
Are you thinking about starting a career as a professional coach? If you have years of experience and skill in a particular field, then you have the knowledge and authority to lead those who want to know your secrets. Whether you are a successful entrepreneur, motivational speaker, therapist, etc.-- you have the ability to create a coaching program.
How should you get started?
First, determine the demand for your services. Are people already asking you to mentor them? Do you have an email list you can survey to see if they'd be interested in your coaching services? What results can you help people achieve?
Second, determine the parameters of the type of coaching program you desire to construct. Does it include weekly/bi-weekly/monthly calls? How long are the calls? Do they have access to you via text/email? Are there boundaries you need to set in regards to days of the week or time of the day you will be available?
Next, determine how much time you will invest on your end. Compare this to the time you spend in your trade. Will your hourly coaching rate equal your current hourly rate? Do you have enough credibility and enough of a following to charge more than your current hourly/industry rate? Or, will you discount it in the beginning as you grow your coaching audience?
Lastly, think about the length of the program. Is it month-to-month? A three month commitment? Will you take payment at the beginning of the month? Will you prepare and sign a written contract? What is your cancellation policy? Will you need 30-days written notice before a termination of a program?
Consider these four variables to begin the price structure for your coaching program. Our best advice? Start your research now! Look up coaching programs of your competitors and collaborators. See what they are doing and see how you can make it your own.
Would you like more guidance on building, marketing and growing your coaching career? Anthony Flynn created a 6-figure coaching, consulting and speaking program in less than a year. He can help you build the same business for yourself. If you are serious about starting your own coaching business, check out www.AmazingCEO.com. Take our consultation survey for the chance to have a 15-minute consultation call with Anthony.