Blog Post: Raise Your Rates

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on email
Email

 

The discussion that causes the most angst with coaches is the talk about how much to charge. New coaches seem embarrassed about communicating their rate to new clients. There are lots of reasons this is true. The new coach doesn’t feel worthy to charge what feels like a high rate. They can feel like they are betraying the cultural rule that ministry should be free of charge. They sometimes feel like they are overstepping their station in life. This can be a difficult feeling to overcome.

Let me suggest a formula that might help:

Your Coaching Rate = Value of the Client’s Outcome X Value of Coaching.

Value of the Client’s Outcome: A value is placed on the client getting their desired outcome.

  • What would it be worth for a pastor to start a successful discipleship culture?
  • What would it be worth for a manager to create a work environment with less stress?
  • What would it be worth for a dental practice owner to create boundaries, so they have room for a life?

What would those outcomes be worth? They might be priceless, but I imagine you could put a price on the outcome. A price based on outcome creates a strong motivator for the client. If the price is too low, the client might come with a “we’ll see” attitude. A higher price can create an “all in” partnership.

Value of Coaching: The value of coaching reflects how effectively the coach delivers the outcome.

  • Coaching creates new awareness.
  • Coaching creates a well-designed plan.
  • Coaching creates strong motivation.

The new coach needs to realize that coaching works. Coaching is a refined process that helps a client move from where they are to where they want to go. It is not overly dependent on the coach’s talent. Value the process of coaching. It multiplies the value of what you are offering your clients.

It’s interesting to note what is not in the equation:

  • Your self-worth.
  • What people can afford.
  • The notion that ministry should be free (or at least cheap).

To a large extent, you should take yourself out of the equation. Sell coaching; don’t sell yourself. This takes the pressure off. Your rate reflects the power of coaching, not the power of you. Set a rate that communicates this value and then get on about the business of coaching.

Leave a Comment

Your email address will not be published. Required fields are marked *