Okay, straight talk.
And I’m writing this because I’ve been at this exact point before…
You’ve tried to talk your audience into paying you.
And they aren’t bulging!
And you think it’s by encouraging them to pay, or worse still, giving discounts!
NO! PLS DON’T DO THIS!!
If your audience can’t afford you, don’t try too hard to convince them…
Or get them to reason with you…
Or reduce your price to what they can afford ❌
Simply do this…
GO IN SEARCH OF NEW AUDIENCES!
Or better still, aim at attracting the audience that can afford you.
So here’s the thing…
If you intend to run a profitable business that will not only pay your bills, but sustain you as a coach (including your staff), you have no business devaluing what you offer just to hand down ‘helps’.
Yes, there is a place for charity, if what you run is not-for-profit, or is being funded by a government organization, but when it comes to running a business to generate profit, it’s a totally different conversation.
I can talk about this at length because I struggled for a very long time with the decision to serve premium clients.
I kept asking myself,
“Will they pay?”
“But isn’t it too high for them?”
“What if they don’t buy?”
But you see, the problem wasn’t with fixing the new pricing…
It was with my mentality.
I had boxed myself into believing people can’t afford stuff…
And with the decision to remain at that level of thinking, I was killing my 7 year old business!
It was literally dying!!
I also couldn’t afford to pay for the courses I wanted – and this was a terrible thing because sticking to believing they couldn’t afford my offers spiraled into me not believing I could afford the kind of things I desired to have, not just in my business, but in life too.
I couldn’t hire support staff…
I couldn’t pay my bills on time…
Heck! I was at the brink of getting right back into the job market.
Not until I practically had to knock myself back into realizing that selling piecemeal offers hadn’t taken me anywhere, and there was nothing in sight to where it would take me going forward…
This wasn’t a tough decision to make. It was a realistic one! Or else, I would run out of business.
So, here’s what I did…
I took a step back, decided on where I wanted to be and made up my mind to find an entirely new audience – the ones who could afford me and not have to ask me for discounts or deals.
And this is what you should do too to avoid boxing yourself or your business to a corner.
If your current audience were used to your former pricing, and now you’ve taken it up or are pivoting to premium, it’s not entirely your place to convince them.
Fix your new price and go in search of new audiences who can pay you.
Truth is, there are people willing to pay you at your new price and they are currently looking for you. So you have to position yourself to be found by them and strike conversations and transactions with them.
You have exactly what they need and if you don’t put yourself out there at that new price point, someone else who is less capable than you are will get them swiping their cards for bigger cheques!
So Coach, don’t limit yourself. Go out there and attract that new market that have long awaited you.
Now, you may be asking… “DO I THEN NEGLECT THE CURRENT AUDIENCE?”
No. Just keep nurturing them. Not with your old messaging but your new one – your high ticket one.
They’ll gradually get used to the new you, including your new pricing, and come around much later, especially the ones who genuinely value what you offer. And if feel you can offer them a payment plan, why not? Just don’t stretch it beyond a 2-part plan or you’ll miss the entire point.
There is a market for everyone. And as you encounter people while you run your coaching business, you’ll also encounter a lot of mindsets. The most important thing you should do is protect this new mindset and do not allow it to sway.
Some people may try to belittle your offer…
Or tell you why the other person charges for far less…
Simply refer them back to that other person and permit yourself to move on without looking back.
Truth is, the people who started with you may not be the same people to follow you to your next level.
That next level requires different thought patterns and commitment levels.
It demands grit, fierceness and the power of attraction.
Make up your mind to walk talk and confident knowing you deserve good things too and they will draw themselves with you as you so desire.
I’ll stop here for now…
And if you know this post spoke to you and you would like to sit with me to strategize how we can move your coaching business from where it is now to where you want it to be, send me a mail at email@example.com let’s take it up from there.