This week we’re digging into the 5th step of our signature framework inside of The Purpose To Service Academy which is all about LAUNCHING! But we’re not going to dig into the strategy like you may be thinking!
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Get on the waitlist for The Purpose To Service Academy! Applications open up on October 12th! https://www.alisharobertson.com/waitlist/
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//links and resources
EP 157: Creating An Intentional Launch Strategy with Brianca Johnson – https://www.alisharobertson.com/157/
Check out the rest of the episodes in this series – https://youtube.com/playlist?list=PLcH1MoFLSU79aEHc9S1ZFIG03PSfyxGSR
Don’t forget to subscribe to my channel https://youtube.com/alisharobertson
Welcome back to another episode of The Purpose To Service Podcast! Before we jump into this week’s episode, I have to remind you that applications for my 12 month group coaching program, The Purpose To Service Academy open up on october 12th! This 12 month coaching program is for coaches, consultants, strategists and online experts who are wanting to create more ease in their business by creating a solid foundation and launching their signature service offer! I know how overwhelming it can be to juggle all of the different tasks inside of your business and how that overwhelm impacts the amount of clients you bring in.
I created this program to help you to simplify your business so that you can not only focus on serving your incredible clients and making more money but so that you can also live the life that you desire! Again, applications open up on October 12th! But getting on the waitlist has its perks like first access! Head over to alisharobertson.com/waitlist now!
So We are officially in week 5 of our 6 week series all about how to build a Sustainable Coaching Business with Intention! Just as a quick recap we talked about:
- How to get clear on what you really want
- Understanding who you’re serving and what you’re promising
- How to make the most out of your pre-launch phase
- How to Stop Overcomplicating Your Program Curriculum
This week we’re digging into the 5th step of our signature framework inside of The Purpose To Service Academy which is all about LAUNCHING! Now I could walk you through the steps of a great launch and how to avoid making the most common mistakes. But we really dug into the launch strategy in episode 157 with launch strategist, Brianca Johnson.
So if you want to hear more about that, head over to that episode.What I want to talk with you about this week is one big roadblock that I see hold so many people back from actually putting their offer out into the world. It’s not always the strategy or the fear. Often it is the PRICING! You’re unsure how to price your offer or you keep going back and forth trying to decide on a price that you hold back from actually launching. And if you do launch, you do it quietly because you’re so afraid of someone not paying the price that you’ve set for yourself. So this week I want to talk about Pricing for Impact, Sustainability and Ease! Ive also created a worksheet for you to use for this episode because i know with numbers its easier if you write it down. So you can download the free worksheet by heading over to alisharobertson.com/162
Full transparency, pricing hasn’t always been the easiest for me. Not because I’m necessarily afraid to price my offers (although that has popped up too) but because I’m so indecisive and I often need to think about every possible scenario and every possible objection before I can come to one set rate. I start to doubt myself, doubt my abilities and then I have to start all the way over from scratch and remind myself of who I am and what the value in my program is worth! In fact, if you watched my most recent vlog over on my youtube channel then I actually took you through my entire process for how Im pricing The Purpose To Service Academy, how I sort of decided on a price and then how the ladies in my mastermind group pretty much told me that I was trippen and needed to charge more! Pricing and putting a rate on what you have worked so hard to create brings up a lot of emotions which often can push you into procrastination which means your offer never really gets the marketing that it deserves.
But over the years Ive learned that if you stop focusing on the price itself and attach those numbers to a bigger purpose, it helps to then set a price that not only feels good to you but a number that will also make sure that you’re not undervaluing your time and genius.But lets go back to that idea of pricing that feels good to you really quick. When I was trying to decide the new rate for The Purpose To Service Academy, I was talking about it with my friend Monique over at Pimp Your Brilliance and she was saying that yes you can charge whatever you want to to charge essentially but you also have to feel good about that price. Because if you’re not feeling great about the price, whether it be a lot or not enough, your energy in how you market your offer will be off.
If you’re not feeling confident in the big number you set or if you don’t feel like you’re charging enough, that energy will show up in how you talk about your offer, in the content you create, in your sales calls and so on! I thought that was so good because Ive never thought of it that way. Any time that I have underpriced myself I have literally felt gross which made me want to halfass my marketing strategy! Money is energy and it will have a trickle effect throughout your entire business which is why it’s important to decide on a number that feels good to you!Alright so let’s talk about how to figure out what to charge and how to attach that price to a bigger emotion or purpose.
PRICING FOR IMPACT
When we look at money, depending on how you were raised or your life experiences, you may look at money as something that is constantly being taken away. Whether it be for bills or just getting through life. It’s always leaving. But what if you looked at money at how big of an impact it can make.A big part of my brand message is to help coaches to use their business to fuel the life they desire. A big part of that is having the money to be able to live out your desires. So I want you to think about the life you desire. Whether it be getting out of debt, traveling, putting your kids into gymnastics, giving back to organizations with causes that you are passionate about or simply just paying your bills every month and still having some leftover.
I want you to think about the amount of money that will really help you to make a huge impact in your life and the lives of the people that you love. And I want you to put real numbers down and add that amount up. What does it cost to run your household each month? How much are your kids gymnastics fees each month? How much do you want to sit aside for your big vacation? How much do you want to put into savings? Add those numbers up and then come up with a total.Money isn’t just this resource that is constantly being taken away from us. Money is a tool that can have a major positive impact on our lives and I fully believe that when we shift our mindset to think of it that way, doing things like setting the rates for our offers becomes easier.
PRICING FOR SUSTAINABILITY
One of the big mistakes that I’ve made in my business when it comes to pricing, is setting prices for what I need right now and not necessarily setting a price for how I want my business to grow. Hands down one of the biggest mistakes that I’ve made. I run a very low cost business. As of the time of recording this my monthly business expenses are right under $1000 a month. I’ve always run a very lean business and I’ve only invested in tools that I absolutely needed at the moment. But the problem again was that when it came to pricing my offers, I often priced so that I was making the bare minimum of what I needed to keep my business afloat and what I needed to survive. Which is fine UNTIL taxes come around, or you have a slow income month or you want to invest in a coach or you want to hire help. And now you’re stuck in a place where you’re selling an offer that isn’t enough to cover your growth.
So you end up having to do more work and take on my more clients. That isnt sustainable. Building a sustainable business means being able to grow efficiently and bring in more money without you needing to use every single hour in your day to make it happen. That’s just going to lead to burnout.While im not saying that you have to price yourself based on having 10 full-time employees right now but I do want to encourage you to get a good understanding of what your next level in business looks like and what its going to cost.The next level for me looks like hiring help and also paying myself more.
So in addition to my normal monthly expenses, Im now estimating and factoring in how much I will need to pay a part-time or contracted employee and the increase in how much I want to pay myself moving forward.So i want you to add up how much your monthly expenses are and include things like taxes or money you want to put in savings. And then I also want you to factor in what that next level in your business looks like. Do you want to hire? Do you want to invest in a coach? Do you want to pay yourself more? Get as specific on those numbers as possible and add it all up and see how much its going to cost you to run your business each month!
PRICING FOR EASE
Lastly let’s talk about pricing for ease! I mentioned before that building a sustainable business means being able to make more in your business without needing to devote more hours. Pricing your offers with ease in mind helps you to avoid hitting burnout because you’re trying to work 24 hours a day. To price with ease means getting very clear on how many clients you can take on at one time. What is your capacity for clients while also considering all of the other obligations you have in your life and your non-negotiables?
A big problem I see so many coaches make is that they pile on clients onto their roster instead of just simple cutting that number in half and raising your prices. So I want you to think about how many clients you can physically and mentally manage every month.
PULL IT ALL TOGETHER
So let’s pull it all together. We talked about how to price for impact, how to price for sustainability and also how to price for ease.Right now you should have three numbers. The amount you need to make to make the impact you want in your personal life. The number you need to make to build a sustainable business. And the number of clients that you’re realistically able to take on each month.
Next I want you to take the the first two numbers, the numbers for how much you need to make to cover personal and business expenses and add those up. Then I want you to take that number and divide it by the amount of clients that you’re realistically able to take on. That is a good starting point for deciding how much you should charge for your coaching program.
Lets looks at an example. Let’s say I need $3,000/month to cover all of my personal expenses and desires and then $5,000/mo to run my business. That is $8,000/ month that I need to bring in. But let’s also say that realistically, I can only take on 6 clients per month. So what I’ll do is take that $8,000 and divide it by 6 which will give me $1,334 if we round up. So my coaching offer should start at at least $1,334 in order for me to hit my monthly income goal.
Now this is just a starting point. There are so many different factors that go into pricing your offers that may look different for everyone. Industries averages is a big factor. What your coaching program contains is a big factor as well! And we go more in depth about these different factors inside of The Purpose To Service Academy!
This is a great starting point to help you come up with a number that’s not just a number that is pulled out of thin air. This number is intentional and is connected to a deeper purpose than just how much you can get from someone.Don’t forget, I have created a worksheet for you to use for this episode! You can download it over at www.alisharobertson.com/162
Again, applications for the purpose to service academy open up on October 12th! And trust me, this is the coaching program and community that you want to be apart of! So if you’re not on the waitlist yet, make sure you’re on there!
I will see ya’ll next week for our last episode in this six week series!