I see many clients struggle with 2 things when building their business. First they’re afraid to ask for their worth and their rate, and second they’re stalled in their business growth because they’re primarily offering just one-on-one coaching services. Here are 2 great tips on how to address these common obstacles:
1. Having a Mindset for Money
One of the key struggles that I see with many clients is that they’re afraid to ask for their worth and their rate. They really want clients and they want to make money, but uncomfortable when a potential client or whoever’s going to pay them, ask for their rate.
The conversation goes great and then they ask, “What do you charge?” and it just dies.
That’s nothing to do with business. Everybody thinks it does. Creating a rate in the marketplace and creating the right amount and so on and so forth has nothing to do with business. It has everything to do with mindset.
I hear people say, “I’m going to call around and ask what other people are charging.” That’s the biggest mistake you can make when you are creating a rate because you automatically start from a place that isn’t authentic. You’re deciding what your value is based on other people’s decisions.
What you offer your clients is unique and should be priced accordingly – not ignoring the marketplace, but also not being constrained by what everyone else is doing.
Think about how you can shift your mindset for money and how you can really work from a place of prosperity and abundance.
2. Build a Diversified Business Model
I encourage people to not have a business that is solely based on one-on-one coaching, but a business that has multiple streams of income. To have just the one-on-one coaching model leaves you vulnerable.
A couple of things can happen:
- You could lose all your clients.
- If something happened to you and your sole income is based on your one-on-one interaction, that’s a challenge.
- It’s a recipe for burnout, we hear it quite often: “Oh, it’s great. I’ve got 40 clients but I’m working 40 hours a week plus all the work I’m doing outside of our therapy sessions or help counseling sessions,”
Beyond your one-on-one services, you need to develop information products and have programs. Don’t just do one-on-one. Have groups. Have a book. Have an audio series.
All these information products can be repurposed and put out there in different ways – have your audios transcribed and turned into articles like this, or ebooks, or special reports. Turn your ebooks into membership programs using an autoresponder service.
Train associates that work with you to also perform what you perform so that you have more than one person on your team.
There are a million ways to have multiple streams of income, but the business model that really works is when you do have more than one way.
I’d like to invite you to learn how to help more people, make more money and enjoy more freedom with the free 5-day mini course, “Awakening Your Authentic Entrepreneur,” at http://www.helpmorepeople.com/minicourse.htm
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