A Simple Guide for Pricing Your Consulting Services

Are you struggling to set the right prices for your coaching or consulting services? You're not alone. Let's break down how to price your services in a way that works for both you and your clients.

Why Being the Cheapest Option Isn't Smart

Many coaches think offering the lowest prices will bring more clients. This often backfires for several reasons:

1. Low prices can make people doubt your expertise
2. You'll need more clients to make enough money
3. You'll have less time and energy for each client
4. Clients often value services more when they pay more

How to Figure Out Your Pricing

Let's walk through a simple process to set your prices:

Step 1: Calculate Your Monthly Costs

Add up everything you spend to run your business:

• Internet and phone bills
• Software subscriptions
• Marketing costs
• Office space (even if you work from home)
• Insurance
• Taxes

Step 2: Decide How Much You Want to Make

Think about:

• How much money you need each month
• Your experience level
• What others in your field charge
• Your target yearly income

Step 3: Look at Your Time

• How many hours can you work with clients each week?
• How much time do you spend on other business tasks?
• How many clients can you help effectively?

Real Numbers Example

Let's look at two examples of how this works:

Business Coach Example

Monthly costs: $1,000 Desired monthly income: $8,000 Total needed: $9,000

Working hours: 25 client hours per week Monthly client capacity: 15 clients

Minimum price needed per client: $600/month

Life Coach Example

Monthly costs: $500 Desired monthly income: $5,000 Total needed: $5,500

Working hours: 20 client hours per week Monthly client capacity: 12 clients

Minimum price needed per client: $458/month

Tips for Setting Your Final Price

1. Start higher than your minimum needed price
2. Offer different service levels (basic, standard, premium)
3. Check what others charge in your area
4. Think about the value you provide, not just your time
5. Include room for raises as you gain experience

When to Raise Your Prices

• When you have a steady flow of clients
• After you get great client results
• When you've gained new skills or certifications
• If you're always fully booked
• When your costs go up

Remember: Your prices show how much you value your own work. Price too low, and others might not value it either.

?If you are not sure if you have the right pricing structure, click here to book a free 15-minute chat where I will review your current pricing structure and make suggestions as needed.