If your price point doesn't allow you to build the lifestyle that you desire, then you'll also not get the client results that you deserve.

So today is all about pricing your coaching program.

Yeah, and it's, it's a really important topic because I can see so many internal dialogues with so many of our clients that have gone through like where should I be, where what should I charge?

And let's break it up a little bit so that we can get a deeper understanding of it.

So what are a few of the common struggles?

Well, I think depending again where you are in your business, but if you're just starting up, you're probably under valuing your service or like the value of what it is.

So I think it becomes mix of not believing what you actually do and have is that valuable for your audience.

And combined with the fear of me not being able to provide, me not being good enough, I can't charge too much because people won't buy.

If I charge too much, I won't get clients.

Yeah, I think there's a lot of internal struggles around pricing.

Yeah, absolutely.

And what we can see is that it ties down to fear and it ties down to self doubt and it ties down to imposter syndrome and it ties down to the all different rational arguments that we can have why I can't charge more.

But that is also the biggest breakthrough that a coach will experience when they go from being a low ticket coach into a high ticket coach.

I think one rule there is is everything only has the value of which your audience will pay you, meaning how valuable do they see it?

Like how big is the problem you solve?

And then there's another point.

What number can you say?

What do you believe it's worth?

And what do you.

A funny exercise we always do when we're running challenges where I see something really clicks with the people when we speak about sales and putting in the price is if you take yourself out of the equation because it becomes about me for a lot of them, like I won't be worth that amount of money.

If you take yourself out of the equation and only look at if that audience, if your ideal attire could buy the promise you giving them if in a package on the shelf in the supermarket, what would they be willing to pay if they knew with hundred percent certainty that they would get this promise or have this problem solved, what would they pay?

And every single time participants will say, well oh my God, it's priceless.

And then it comes to so what will you sell it for then?

I don't know.

I don't know.

And then you come in your way, right?

Yeah.

And then they downsell themselves into a price point where they feel comfortable.

And the problem with comfortability is that it doesn't allow growth.

No.

So when we are pricing our program, we want to make sure that we are looking at the significance of the outcome, as you say, very important.

And we do that by dissociating ourselves from the equation, taking ourselves out of it, and then looking what's the value of the outcome.

Yeah.

Once we've done that, we can take the next step and also realize that a person who invests €500 and a person who invests €5,000, not saying that €500 is wrong, and not saying that €5,000 is right either.

But let's just use it as an example.

If the same person invests €500 and then €5,000, that person is 10 times more invested in a 5,005k program than he is in a €500 program.

And that is the foundation of what we need to acknowledge.

If you don't have a price point that can build your lifestyle that you desire, you're also not going to get the client results that you deserve because the clients won't be invested enough to do the hard work that's necessary in order to get the outcome.

And if there is a business coach that sells a six figure outcome for businesses and he charges like 2k or 3k, I call bullshit right away because it isn't theoretical, it's work that needs to be done.

So if we go to another niche where someone is working through trauma or building on their relationship, it's the same thing.

In order to pay attention to what the coach says, you need to have an incentive to do so.

And when it gets hard with the coach, we need the price point to be regulating that so that it's still like we've invested a lot in this.

Let's.

Let's really work this out.

And the best programs that I've ever been in have been the programs where I've almost couldn't afford it.

So I've paid for expensive, real high ticket programs when I was €30,000 in debt and I still understood that I need to invest in myself.

And then I did invest another €25,000 in order to get the help that I needed.

So when we are putting ourselves in a place where we are forcing ourselves as individuals to stretch, we are investing with more effort and more essence.

The more you can pick yourself or take yourself out of the equation.

The easier it is to realize what does the client need?

Because when it comes to the price point, it should absolutely build the lifestyle that you desire.

But it's much more important for the client.

I believe we have a lot of listeners right now thinking, yeah, but it's not just about making money.

For me.

I really want to help as many as possible.

It's important for me that I'm.

I'm helping more people.

And in that implicit, it says the price point needs to be at a place where I can help more people, where more people can afford my product.

What are your thoughts about that?

I say that it's not about them because here's what I can say.

I am not invested in money.

I do not do this for money.

I'm the first one who gets out of it.

When we're speaking too much about money, when we are planning our business.

I am not in this for the money.

Part of that is because I have a core belief that I will always have the money I need in order to take care of the stuff that I have to.

And that's been like that for me, like, since I was a kid.

I always have what I need in order to take care of stuff.

But money in itself doesn't motivate.

Motivate me at all.

So I get it.

The problem is you're not trying to serve your needs right now.

You're trying to serve your business's need.

And the only thing that gives nutrients and nourishment to your business is money.

Because if we take money out of the equation of your business, guess what?

You don't need a business anymore.

Because the only function of a business is to have something like a black hole in the universe where money can go into.

And once it comes into it, it grows.

And then you can do stuff with it.

If we take that away, you can do it for free, pro bono.

You don't need a business.

You don't need to decl anything.

You just tell people, well, guess what?

You're going to have a problem on the back end of that because all of a sudden you're going to have to pay your bills.

Yeah.

So it's a combination.

But we need to understand that our business needs funds.

And one of the things that we have taught all of our clients is to make sure that you have a price point that also allows you to save money while building it up.

Because if you are listening to this, you have kids.

You can see your business as your kid.

Your kid needs food, needs nutrients and nourishment and it needs proper attention.

And a really good thing be if you could save up for your kid so that they have something for the future.

And business is in a straight line.

Businesses goes up and down, left and right, depending on both you and your clients and the market and the world situations.

We have seasons and there will be winter at some point.

And I would say that for a big part of the world, we've had winter for a while.

I mean, the war in Ukraine, the newly presidential election in the U.S.

we don't know what will happen with it.

There are circumstances in this world that affects our purchasing power.

And I'm not saying pro or against anything in regards to the presidential election.

But what I will say is that I predict that it will have changes to how we treat stuff, depending on how that's done.

So another thing here, because the question that will always happen as well when people get into fear if people are not making money, if they are not like getting enough clients, is I need to sell it cheaper.

Because people can't afford, especially if they've had a couple of sales calls and people said, yeah, it's really good, I really want wanted, but I don't have the money.

And we have those objections coming again and again and again.

I hear a lot of people saying, yeah, but I can sell to more people if it's just cheaper.

Yeah, but if Your price is €2,000 and you think like that, then I would say that you're 100% wrong, because everything indicates that you're wrong.

Yeah.

So sure, if you're selling something for 5K, maybe, maybe you are 20 or 30% above your sweet spot or the spot where your price is perfect, but if your price point is already low enough, and I'm saying like 2k, 2 and a half, maybe even 3,000, the money objection is not about your program being too expensive, all about sense of urgency that we can create.

And if you can't create that with a program for two and a half thousand, you can create it for a thousand or 800 either.

And the problem that comes when you lower your price.

And I'm not trying to shop anyone's head off, I'm not trying to make anyone wrong in any way.

The only thing that I'm saying is that the problem doesn't disappear because we changed the circumstances.

And unfortunately we've seen this with a lot of past clients that got stuck in that mindset and they just kept lowering the price, lowering the price, lowering the price until they couldn't live up their business.

Anymore.

Yeah.

And they can get more clients due to that.

It's a mindset thing to work on rather than the other thing.

Now, you said, interesting thing, you said your sweet spot.

What is the sweet spot?

Can price be too high?

Because when I listen to you right now, I'm getting into, okay, so I just need to always raise my price.

Is that what needs to happen?

What is the sweet spot?

When do I know it's a good price?

So personally, I think mathematically it's a hard question because, yes, there is a sweet spot, but the problem is that it's tied to so many different variables so that it's not just the market that sets the sweet spot, and it's not just you as a coach that sets the sweet spot, or your capabilities or your skills or the value of your program or your avatar.

So there are a lot of different circumstances.

So mathematically, it's hard to navigate.

And yeah, so it is a process getting to that point where, where we feel that we have a good price point.

But the easiest way instead of trying to do it mathematically is it's called wallet psychology.

And wallet psychology is where within their finances will they look in order to finance a purchase?

And there are different, like, steps to that ladder.

So if it's low enough, they're going to look into their income stream.

So what's coming in every month?

If you're trying to finance something for €50, then you're going to look, do I have €50 left after I've gotten my income and then I pay my expenses, is there €50 left for me to invest in this?

Okay, cool.

Maybe there is, maybe there isn't.

If we go to the next step, then it's not looking in the monthly flow of your finances anymore, but looking into your savings.

And when it comes to looking into your savings, maybe there are some stocks or whatever.

And then when we come to another level, let's say buying a car, then sure, we can look at leasing deals that allows us to kind of break it down into a monthly kind of thing.

But if you're going to cash a car, then it's rather, what do I need to sell?

What do I have?

What assets do I have that I can liquidate and pay for this thing that I want to buy?

So the wallet psychology is very, very interesting because what we can see is that if you're trying to sell something for a thousand euros and you're trying to sell something for two and a half thousand euros, they're going to look in the same place in their finances and if they can figure out and if they can find a thousand euros, likelihood of them being able to find two and a half thousand or maybe two, €2,000, it's so close.

So when people are at that level, looking at spending that kind of money, they're already open to spending more.

And when they spend more, they are going to get better results because they are going to be more invested.

You are going to get a better income and it will allow you to put some funds for future expenses so you can save in your.

It's going to allow you to pay yourself a salary faster and it's going to allow you to take care of all the stuff that goes on in your life.

So when, when we backtrack it and comes to, yeah, but I'm not motivated about money.

I am not motivated about money either.

It doesn't matter.

It's not the conversation that we're having.

We're having a conversation about responsibility and creating a real impact.

And it takes an adult mind.

And not like, I don't like that.

I don't care if you like it or not.

What you need to find is that you need to find.

Why?

Because we want to create a lasting impact.

You want to help people do something that is substantial and has a big impact on them, then help them do that while taking care of your business so that you can do it with more people and more people and more people.

And for me, that's what it's all about.

What I understand that you actually saying is maybe the pricing is not the problem, it's you not feeling confident in the price.

But even more, maybe it's about your offer, the way you present your offer.

Maybe it's about how you make it valuable for the person.

So you not being able to sell at a specific price point is not necessarily because of the price point.

It might be because of your offer.

It might be because of how you sell, that your skill sets around selling is just not good enough or your marketing is not good enough.

So we cannot just like go to the place of believing that every time we can't sell it, it's because of the price point.

Just want to add that to it.

Now, if I know I have a higher value and I do believe people could pay for that and want to charge more.

But I don't feel confident saying that.

So whenever I'm on a sales call, I start stuttering or I can't really say that number because I believe myself.

It's a big number.

Because saying a price is also often about what do I feel confident saying?

What like if I believe that's a huge amount, it's really hard to say it, but if I believe it's such a low price for the value you get, it's going to be easier to say so what is the step by step to get to the point where you can actually say, say the price, you know, it's the value and, and sell at that price.

So important and really, really good.

So no matter if it's your entry program or your first thing, a three month program, or if it's a 12 month academy or mastermind or something that is more of a high ticket offer, grow into your prices.

You need to know that that is what you're doing.

You are growing into the right price point.

And the first step of growing into it is setting the price point.

What if, if I'm completely dissociated and just look at it, I see that the value is there, the two and a half thousand euro point or the 15,000 euro point.

Then start with saying that, like train your being into saying that price and then give a discount and reduce the price.

Let the person you speak to know that.

What I would like to do for you is this.

Yeah.

And how we do that is very, very simple because you can be very transparent doing that.

And it could literally look like this, hey, here's my thing.

I've just launched an academy and the price point is really €20,000.

But because I am just starting this out and because I really like you as a client, I would love to work with you.

I would like to give you a special offer because I'm starting out because I'm actually looking for clients right now.

So instead of €20,000, I would actually like to offer you the same program for €12,000.

Does that make sense or is that something that sounds good for you and then you facilitate the conversation from there and it's.

You can be that transparent and say that I want you as a client and I want to make whatever I can make it as easy for, as possible for you.

But when we give that reduced price, it also gives us a very good opening to create sense of urgency.

I can only give you this price now if, yeah, if you pass on it, I can promise you that I'll give it to you tomorrow.

And then on the next call it might be 12 and a half or 13 or 13 and a half.

So you just roll into it and as you said before, you can always add 10%.

And no one would ever say anything about it, not even your own brain will notice 10%.

Then you grow as fast as you can so you don't force it.

Because there might be that where that you'll find a tipping point where like I can't go above €1500.

Then stay on €1500 until you can go to €1600 or €1700 then because you do not need to force a basketball through a garden hose.

The only thing you need to do is get to that point knowing what's important because that is what makes the difference that you make an exception or you are giving yourself the space that you need to grow into that place.

That isn't a problem.

You have the space, but you need to know where you're going towards.

And I like, I would fail any coach if I said that they shouldn't have a fair price point.

And when I say a fair price point, low ticket, €2,000.

If you're not at that point, you can ask yourself, oh, what's currently missing in order for me to make sure that this works.

And it could be that I have a 12 week program, three months and it's a weekly thing we're going to meet and blah blah, blah.

And I can't price that.

Okay, cool.

So what do you need to add?

It's not like I need to build out the program and make it 24 weeks.

It's what in terms of structure and accountability can I add?

And it can literally be on the back end of the 12 weeks.

So making your offer better.

Yeah, yeah, continue working that.

And if you raise your price and you struggle to to sell at that price point should take it one step back.

Now what I would like to say is that give yourself the opportunity to grow into the price point that allows you to build a business that, that can build your lifestyle or provide for your lifestyle as well as a good opportunity for your clients to get really great results in your program.

And the last thing that I would like to say is if you aren't already subscribing to this podcast, make sure that you do, make sure that you share it with someone that you believe would get value from listening to this episod.

Follow us on social media if you are curious about a topic that you would like to hear us speak about, then send it to us so that we know what you would like to hear more of.

And I, I'll promise you that we'll take it into advisement and see what we can create out of it.

And I actually do believe we have a free training inside our Facebook group about pricing.

So join our free PR group.

You'll find the link below and go into the group and search pricing, because I think we even have a little bit longer training on how to.

To set your price.

Yep.

Super good.

And how do they find the free Facebook group?

There's a link below.

Nice.

Click it.

Love you guys.

See you next time.

See you.