I had a wonderful consultation Saturday with a personal trainer and two of the most impactful changes that I encouraged her to implement were: raising her prices and simplifying her offers.
Let's focus on the former.
I realized after that call that I’ve 3x'd the cost of 1:1 business coaching with me in less than a year and I am so, so proud. Not (just) because of the money but because of the confidence that it took to raise my prices. #IYKYK
The current inflation rate is 3.18%. This means that prices have increased by 3.18% since this time last year. If you have a $4,000 offer, you’d have to increase it by $127 just to have the same spending power.
And that $127 doesn’t factor in your expertise. You’re smarter than you were last year and thus better equipped to help your clients. Knowledge gained, new certifications, even conferences that you've attended all warrant a higher price tag.
How much you raise your prices is up to you. I don’t really touch my consultation prices (aka quick wins), but for my 1:1 coaching offers, I raise the price by $100 or so with every client I sign because yesterday’s price is not today’s price. That $100 bump is in addition to a yearly increase that accounts for my new expertise and inflation.
If you’re feeling guilty about raising your prices - I get it. I used to be there and I still have a lot of work to do. I chose to invest in courses and books that would help me feel more confident in my skillset.
$100M Offers by Alex Hormozi (one of my fave business bros) has been pivotal, as I’m sure you’ve heard me say many times. I can’t recommend it enough, especially if you’re new to offer development and pricing.
(Sidenote if you've already read $100M Offers, Alex just dropped $100M Leads!)
As he puts it, pricing yourself as a premium service is to the benefit of your clients and I wholeheartedly agree. If you were presented with a cheap dentist and an expensive dentist, which would you rather have work on your teeth? I thought so. 😏
Pricing my offers as a premium service (and branding myself accordingly) helps my clients to know that I’m not fucking around. Working with me is an entire viiibe and I’m nothing like any other coach out there. It also means that it's easier to attract my ideal lady - she shows up ready to werk and when she finds me, she thinks “this is exactly who I’ve been looking for!" rather than getting caught up on the price tag.
If you are a service provider, and you’re up to it, please reply to this email and let me know when you last raised your prices.
If it’s been a while, I’m celebrating September by raising my prices and I hope you’ll join me! But only if you're able to do so with confidence.
I have one slot left for business coaching with me for 2023!
And I have three slots available for my newest offer, Elevate Your Energy. During this 6-week program you'll learn to work with your energy instead of against it. Together we'll:
"Because it's an obvious passion she has a huge bank of resources and strategies to pull from. She took the time to genuinely know me as her client through expert dialogue and prompts and then created a process for us to follow, TOGETHER, that has worked better than anything I've tried. I've learned so much through my work with her that will forever change how I create life for my future professional and personal self. Do yourself a favor and connect with this icon."
As a bonus, sign up before September and you’ll get access to my secret vault of videos. There you’ll find different techniques for:
Holla at me if you have any questions. Stay elevated and...