All right friends, it’s myth-busting time.

I’ve seen too many harmful myths about pricing your services, especially as you are starting out, or are part of my favorite group of coaches - beginner coaches -  these are the things you must break away from in order to create a successful coaching business that you dream about. Because with anything you do, your mindset is what will set you up for success.

That´s why in this article I will bust some bubbles around coaching packages that your average online coach or business coach won't tell you! I can tell you that from my own experience! But let's not delve too much into the past, rather let's get to the core of today's topic!

So forget everything you thought you knew about hourly rates, coaching fees, and a "3-month package" and instead jump into the fantastic world of value-based pricing!

Time to get straight with pricing for us coaches!

"Your worth as a coach is not measured by the price you set, but by the value you bring to your clients' lives. Undercharging diminishes your expertise and attracts fleeting interest while setting fair prices signals your commitment to their growth and ensures a partnership built on mutual respect and investment." 

Pricing Myth #1: “I need to underprice my services to get traction!”

This is sooo not true. In fact, it burns me up every time I hear it.

Despite being immersed in the coaching industry for over a decade, I discovered that underpricing services didn't yield the expected results.

Initially, I believed that offering lower prices would attract more clients, but I soon realized that it attracted individuals more interested in a bargain than in genuine personal growth.

Through numerous trials and errors, I learned that pricing my services fairly, reflecting the true value I provide, is paramount.

When clients perceive the value in my coaching, they become more engaged and committed to the process, leading to more meaningful and sustainable results. By placing a value on my expertise and setting prices accordingly, I've not only attracted more committed clients but also built a thriving coaching practice that continues to grow.

Despite the evidence from my own and other coaches' experiences, this myth persists within the industry. No matter if you are a career coach, a life coach, or a confident coach, the situation is the same. 

Some still cling to the belief that underpricing is the magic solution to attracting clients. This could stem from misinformation propagated by individuals seeking to sell products or services based on this misconception.

Additionally, competitive pressures and a desire to stand out in a crowded market may drive some coaches to undervalue their services.

So don't let anyone convince you that underpricing is the way to gain traction in the coaching industry - it's not!  By pricing your services fairly and communicating the true value you provide, you'll not only attract committed clients but also position yourself as a reputable and trustworthy coach.

The truth - and the solution:

In the world of coaching, perception is everything.

Underpricing and aiming for the lowest coaching fee for your coaching services might seem like a quick way to attract clients, but it can actually have the opposite effect.

When you undervalue your services, you send a message to potential ideal clients that you lack confidence in your abilities! This can lead them to question the quality of your coaching and ultimately choose a coach who charges higher rates.

Furthermore, underpricing your services not only affects how others perceive you but also how you perceive yourself!

It undermines your confidence and can erode your sense of worth as a coach. When you consistently underprice your services, you start to doubt whether you truly have something valuable to offer. This self-doubt can be detrimental to your success as a coach and may prevent you from reaching your full potential!

On the other hand, pricing your services fairly communicates confidence in your abilities and demonstrates that you value the expertise and support you provide to your clients.

It positions you as a professional who takes your work seriously and is committed to delivering high-quality results.

When you confidently communicate the value of your coaching services, you attract clients who are willing to invest in themselves and are more likely to be fully engaged in the coaching process - and willing to pay a premium price! 

So, the ultimate takeaway here is clear: underpricing your coaching services not only diminishes your perceived value but also undermines your confidence as a coach.

By pricing your services fairly and confidently communicating the value you offer, you set yourself up for success and attract clients who recognize and appreciate your expertise. It's time to embrace your worth as a professional coach and let your true value shine.

Pricing  Myth #2: “I could never sell services for that much - people won´t pay that”

Despite common belief, the notion that clients won't pay higher prices for coaching services is unfounded. This misconception is often rooted in misunderstanding rather than reality.

Through my experience, I've witnessed the profound impact coaching can have on individuals' lives. Coaching goes beyond just providing guidance; it empowers clients to overcome challenges, unlock their potential, and achieve their goals. Clients who recognize this value are often willing to invest in themselves, regardless of the price tag.

Despite evidence to the contrary, the belief persists in the coaching industry.

Some coaches may struggle with confidence in their abilities or fear rejection from potential clients, leading them to undervalue their services- Thinking that before they can succeed they need more social proof, certifications or a better track record!

Additionally, societal norms and cultural beliefs around money and worth may play a role in perpetuating this myth.

So, as a coach with experience in the field, I can confidently say that clients will pay higher prices for coaching services when they see the value and benefits they will receive. By effectively communicating the value of your services and demonstrating the transformative impact of coaching, you can attract clients who are willing to invest in their personal growth journey at any price point.

With that said, you will also need to make sure to aim for a target market that actually contains prospective clients willing to pay for High-end packages - and not aim your initial offers toward people with less financial abundance looking for a cheap option. Please note that it's not about just helping people who are better off financially, rather it's about creating profitability in YOUR business for you to also be able to serve people who can't afford your high-end coaching package.

The truth:

The key takeaway is that clients are often willing to pay higher fees for coaching services when they see tangible outcomes. Therefore, as a coach, it's crucial to focus on solving specific, significant problems for your clients—issues that pass the "3 am test."

Imagine a potential client awake at 3 am, unable to fall back asleep due to the weight of a problem they're facing, such as their partner expressing a desire for divorce. In this scenario, the problem is not only urgent but also deeply impactful on their well-being and quality of life.

By honing in on addressing their most pressing challenges and aspirations, you demonstrate your ability to deliver real, measurable value.

This approach not only justifies higher fees but also cultivates a sense of trust and confidence in your coaching expertise. Clients are more likely to invest in your services when they believe you can genuinely help them achieve their goals. And at the end of the day - people are not looking to get a period of time from you - they are looking for a solution to a problem, with a fixed outcome!

Moreover, by emphasizing the concrete outcomes clients can expect from your coaching, you differentiate yourself from competitors who may focus solely on price.

This positions you as a coach who prioritizes results and client success above all else.

Ultimately, it's the ability to deliver transformative results that will attract clients willing to invest in their personal growth journey at any price point. 

Pricing Myth #3: “Coaching is sold by the session, or at most in packages!”

I can totally understand why someone would believe this, especially if you're just starting out as a coach and have noticed that a lot of coaching is sold this way.

I've been there myself, and I can tell you that coaching is sold solely by the session or in packages is a common misconception. There are various pricing models and approaches available within the coaching industry beyond the traditional session-by-session or package-based structures.

The idea that coaching should be sold based solely on sessions or time is deeply ingrained in traditional practices within the industry. This approach suggests that the value of coaching lies solely in the time spent with the coach, rather than the outcomes achieved by the client.

However, this narrow perspective fails to consider the complexities of the coaching process and the multifaceted needs of clients.

In reality, coaching is a dynamic and holistic journey that extends far beyond the confines of individual sessions or predetermined timeframes.

True growth and transformation require ongoing support, guidance, and accountability tailored to the client's unique circumstances and objectives. Selling coaching solely based on sessions or time limits both the coach and the client, preventing them from fully realizing the potential of the coaching relationship.

Moreover, this approach fails to acknowledge the nuanced nature of personal development and the diverse range of challenges clients may face. Each client's journey is unique, and their progress cannot be measured simply by the number of sessions they attend or the hours spent in coaching sessions.

By focusing solely on sessions or time, coaches risk overlooking the deeper needs and aspirations of their clients, ultimately undermining the effectiveness of the coaching process.

Despite the limitations, this myth persists within the coaching industry.

Some coaches may adhere to this traditional approach out of habit or familiarity, while others may view it as a convenient way to structure their services.

Additionally, clients may expect coaching to be sold in this manner based on their previous experiences or assumptions about how coaching works - thus expecting to pay an hourly rate.

However, it's important to recognize that clinging to outdated practices will stifle innovation and inhibit the growth of both coaches and clients.

By challenging the notion that coaching should be sold solely based on sessions or time, coaches can open themselves up to new possibilities and create more meaningful and impactful coaching experiences for their clients.

The truth:

The ultimate takeaway from challenging this myth is the profound shift in perspective toward prioritizing outcomes. This shift represents a fundamental change in the way coaches approach their practice, placing greater emphasis on the tangible results and transformative experiences they can deliver to their clients.

Selling outcomes means understanding that coaching is not just about the number of sessions or hours spent with a client, but rather about the meaningful progress and lasting change that can be achieved.

It involves tailoring coaching programs to address the specific goals, challenges, and aspirations of each individual client, rather than adhering to a one-size-fits-all approach based on predetermined timeframes.

By selling outcomes, coaches empower their clients to envision and work towards their desired future, guiding them through a journey of growth, discovery, and achievement. This approach fosters deeper engagement and commitment from clients, as they see firsthand the value and impact of the coaching process on their lives.

Moreover, prioritizing outcomes enables coaches to differentiate themselves in a crowded market and justify higher fees for their services. Clients are willing to invest more in coaching when they understand the tangible benefits and results they will receive in return. This not only ensures the financial sustainability of the coaching practice but also allows coaches to reinvest in their own professional development and growth.

Ultimately, selling outcomes is about creating meaningful and transformative coaching experiences that go beyond mere time spent in sessions. It's about making a real and lasting difference in the lives of clients, while also building a thriving and profitable coaching business that fulfills both the coach and the client.

Why is it misleading to believe these 3 myths?

By now you should have seen that hourly pricing, coaching service packages, and billable hours are a thing of the past, old industry standard, that deserve to be thrown to the scrapheap of the past!

The coaching industry, life coaching industry, and the coaching clients have changed!

Hence believing in these myths can undermine your confidence as a coach and limit your ability to effectively serve your clients.

When you buy into the idea that coaching is solely sold by the session or in packages, you risk overlooking the true value and potential of your coaching services. This mindset may cause you to focus more on the quantity of sessions rather than the quality of the outcomes achieved, ultimately diminishing the impact you can have on your clients' lives.

And I absolutely know you have everything it takes to excel in your coaching practice.

You possess unique insights, skills, and perspectives that can profoundly impact the lives of your clients.

However, without the right guidance to challenge these myths and adopt a more outcome-focused approach, you risk falling short of your potential as a coach.

You may struggle to attract and retain clients who are truly committed to their personal growth journey, and you may find it challenging to build a sustainable and profitable coaching business.

By embracing the concept of selling outcomes rather than sessions or time, you can unlock new possibilities for yourself and your clients. This approach allows you to tailor your coaching services to meet the specific needs and goals of each individual client, fostering deeper engagement and more meaningful progress.

Moreover, prioritizing outcomes enables you to justify higher fees for your services, ensuring the financial sustainability of your coaching practice while also empowering you to reinvest in your own growth and development as a coach.

Whatever challenges you may face along the way, don't give up!

I've seen hundreds of coaches overcome similar obstacles and achieve remarkable success in their coaching careers! And to be absolutely clear, what ium talking about is not just market trends, that will pass - no - it's the way professional coaches have sold all kinds of coaching packages for a very long time. 

With determination, resilience, and a willingness to challenge conventional wisdom, you too can realize your aspirations as a coach and create a lasting impact on the lives of your clients.

And to keep your momentum high, and to keep you going I strongly encourage you to join our FREE training community where you will find more resources, support, and great content to help you grow your coaching business!

I look forward to meeting you soon!
Joel Iverlöv