312 Coach Radio: How to Charge What You’re Worth

May 27, 2014 — 7 Comments

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Do you price your service like a commodity or do you charge what you’re really worth?

In today’s show Josh and I discuss how to charge and get paid for what you’re worth.

When pricing a project or product you must always consider these three things:

  1. Expenses
  2. Time
  3. Value to your client

Beginning today we’ll be taking a break from the show, at least for summer. We talk a bit about why.

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Need help? Justin and Josh are available to consult with you on your business or idea.

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  • http://selahreflections.com martag

    This is great timing and ties in nicely with my mastermind discussion this week (right Josh :)!). I have been re-looking at my pricing with my new branding and see that my processes and pricing need to be tweaked further. Delivering value not just an hourly rate.

    This is an important step for me. What I am realizing that I am still creating a j-o-b for me but what I want is a business asset, possibly something I could sell in 3-5 years. Not that I necessarily will sell, but viewing it from that point of view changes how I think about the business, pricing, service offerings, purchases etc.

  • http://quickanddirtyworshipleader.com/ Nathanael Schulte

    So, I gave this a listen this week, and Justin, I know you started out as Dave Ramsey-trained financial counselor a few years back. I just finished that training myself, though they call it Financial Coach Master Series now. I’ve got people willing to pay me, and I’d like to give it a try, but I really don’t know where to start out pricing when coaching individuals with finances. Any thoughts in that regard?

  • http://coachradio.tv/ Justin Lukasavige

    Congrats, Nathanael! And thanks for putting yourself out there to help others.

    The biggest thing to consider when deciding how much to charge is an amount that stretches your client and makes them apply the principles you teach them. I charged anywhere from $285 upwards of $2,000 for six months of coaching. We averaged about $750.

  • http://quickanddirtyworshipleader.com/ Nathanael Schulte

    Thanks, Justin! They mentioned during training that they had to significantly change their in-house coaching price model after the 2008-2009 period. Did you find that to be true as well?

  • http://coachradio.tv/ Justin Lukasavige

    I’m not sure what they changed to during that period, but they used to be a flat rate for everyone. That’s not a sustainable business model and I didn’t offer that for long.

  • http://quickanddirtyworshipleader.com/ Nathanael Schulte

    Thanks alot, Justin, I appreciate your input! Do you still have personal financial coaching as part of your business and would you say those rates still apply?

  • http://coachradio.tv/ Justin Lukasavige

    It’s been about 4 years since I’ve offered it so I’d raise rates appropriately.