Can’t tell you how many times i’ve been around a conversation about pricing, for coaching, consulting, courses and programs. For the past 8 years I don’t think there has been any difference in the way they go down.
The past few years I’ve gotten quieter in those conversations. Want to know why? Because it defies logic, and I’m not going to debate and argue with crazy.
There is a silver lining though. I can get a pretty good read on business person based on how they go about pricing there services. There’s a ton of coaches and consultants, and each one has the task of pricing their expertise for the masses. I think I need to put a spotlight on the circus that is coaching and consulting pricing.
Making It All Work
There is something you can do that might help you see pricing a little more clearly. What I’m suggesting is that you look at a few of your competitors, and see if their prices are justified.
And you can do this by looking at these indicators.
- Are they new, established or well established?
- Do they have a lot of positive reviews?
- Do they prove they can solve a specific problem?
- Is the price in line with the problem being solved?
- How does their price compare to the rest of the market?
- Does their reputation add value?
Take all the answers to these questions into account and then ask yourself, from what you see and understand of them, are they worth the price they are asking. And please be very unbiased. It’s important. Sometimes we can be very harsh when it comes to our competition. But it’s worth being open and objective in this case.
Do this and consider where they placed them selves in their markets price range. Did they place them selves correctly? When you’ve done this a few times, take a close look at yourself and figure out where you should place yourself compared to your competition. Then look at your pricing. You might just discover an opportunity.
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I’ll be releasing another new episodes next Monday and this works nicely with what’s going on in It All Works Facebook Group , were you can find extra content and interactions on each weekly topic.
It All Works has a Facebook group for entrepreneurs that are marketing motivated. I expand on the episode conversations there. Opportunities and challenges are part of the culture. This group is for highly active participating members only, and spectators should beware! Click the group image to join.