263: How to Price Your Programs

As a business owner, generating income is the most important activity you can undertake. But as a coach, one of the biggest questions we hear is “How do I price my programs or products?”

In this episode, we delve into the key factors you need to consider as you price your program, to avoid undercharging or overcharging.

When pricing your products or services, avoid  just asking yourself “How much should this cost?” 

Instead, ask yourself “What is the transformation my client will achieve from my products or services and how much is that outcome worth?”

WHAT YOU’LL DISCOVER IN THIS EPISODE:

• The many factors that go into pricing your products and services (2:50) 
• How much time do you spend on delivering your services (4:50)
• How to come up with your pricing (5:15)
• What problem do you solve? (5:58)
• You’re not pricing the program, you’re pricing the transformation (6:49)
• Key things to think about as you price your programs (7:00)
• Cost of delivery, business overheads, profits (7:50)
• Finding yourself in the grind (8:40)
• Tying your prices to your self-worth and fear of hearing NO (9:15)
• The problem with overcharging (12:30)
• Being expensive vs overcharging (13:00)
• People think they are beginners because they are starting a new program or business (13:40)
• Recognize your value as an expert (14:40)
• Figuring out the number (15:55)
• Market research and focus group discussions (17:15)
• How to quantify what your services or products are worth (18:20)
• The importance of feedback (19:35)
• The value is your clients arrival in their new reality (19:57)
• Less is more (21:17)

 

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