Here's how you can determine your consulting fees as an executive coach.

Know Your Worth. Start by evaluating your experience, expertise, and the unique value you bring to your clients. Consider your qualifications and your reputation in the industry. Reflect on your past successes and the transformations you've facilitated. Your track record is a testament to your value.

Value is always an interesting challenge. In short, you're only as valuable as someone is willing to pay you! That said, your price will automatically pitch you at a level for your client that will play directly into their expectation. For example, ￡1,000/session vs ￡250/session will suggest a very different experience. Research out there who your target audience is and seek the fee structures from those in your industry at the level you perceive yourself and pitch yourself where you feel most comfortable within those guidelines.

I have found assessing market rates to comparable coaches to be a good first step followed by adjusting rates based on my differentiated value (e.g. industry, group facilitation, acquired certifications).

What are my clients actually paying for? You can think of coaching as a commodity, where you get the standard questions and frameworks. Or you can think of coaching as an experience you give clients. That is what they are really paying for. And the experience can be broken down into different aspects of the services and products you bring to the table: - newsletter: free - group webinar: limited access to you - 1:1 coaching: full access, either limited or unlimited. Each of these modalities will have different price points because the access to the value is different.

The range is very wide: - beginning coaches who do it for free - the regular market price - high end coaches who charge multiples of the market rate. If we focus on the regular market price, then there are two modalities: - sales and marketing is done for you (coaching platforms) - You do the sales and marketing. Either way, the rate is the same client facing, but in the end of the day it is a decision: - earn more from the pie, but do more sales and marketing - earn less, but get more clients and experience. There's value in that as well.

Factor in Your Expenses. Take into account your operating costs, including marketing, technology, professional development, and any other business expenses. Calculate your monthly expenses and ensure your fees allow for a sustainable profit margin. This helps in maintaining and growing your practice.

I recently had to do this exercise and came up with the approach to assign percentages to the different positions in the budget of a proposal: 1. Program Development and Design (25-30%) - Discovery and Research (5-7%) - Content Development (10-15%) - Positioning & Branding (5-8%) 2. Marketing and Sales (30-35%) - Social media campaigns (10-15%) - Sales (5-10%) - Networking (5-7%) - Collateral (3-5%) 3. Technology & Infrastructure (15-20%) - for a smaller operation this can go significantly down to single digit percentages 4. Program Delivery (20-25%) - your coaching profit (15-20%) - Equipment (2-3%) 5. Evaluation and Improvement (5-10%) - Feedback (1-2%) - Any adjustments

You could have a group coaching rate, a VIP day rate, a year long package rate and more options. You could lay out the options for them.You could also give them a payment plan. Another option is to setup a membership that includes coaching, courses and community. Along with the membership they could get special rates for 1:1 session upgrades as needed.

As you have more clients and reviews under your belt, you have the opportunity to increase your rates. Also I would add VIP day rates as you have more clients than you can handle. This way you get to coach them and complete the engagement in a day.

Remember that your clients are getting the benefit of all of your education, training, and mistakes. I’ve heard someone say that good coaches help clients avoid the “stupid tax.” That’s an incalculable sum that benefits the client more than they know so don’t discount it!

Quote your fees as a package where its not an hourly rate, but based on the transformation you can give to the client. Also take payments upfront before doing sessions as the best placed clients have the tendency to not want to pay after having recd a session. You can say you want the payment issues out of the way so you both can focus on acheiving the defined outcomes.

Always have price range limits (high-low) as you go into price discussions. Ask your client if their company subsidizes or reimburses coaching fees and how much. Knowing this helps with where to land in your high-low range.

Create packages that offer value and savings for clients who commit to longer-term engagements. This can provide consistent income and stronger client relationships.