On the Profitable Joyful Consulting podcast, I teach you how to increase your profits and enjoy your business more. In this episode, you’ll learn how to price your consulting services.
There are many ways to price your services. When I was a brand new baby consultant, the client asked me what my daily rate was. I didn’t have one and had no idea how to come up with one. I had just gotten the price for some tickets for a vacation that were $1,050 a day. I thought, “That sounds like a good number.” It was a pretty random way to price something, but the client said yes. 🤷🏼♀️
Years later, I was trying to come up with a price for a new client. While touring the facility, the marketing manager revealed to me that the marketing budget the client had per year was $68,000, and that none of their marketing was doing anything. I thought, “Well, they’re currently flushing $68,000 a year down the drain. So I think $60,000 would be a good amount to spend with me.” As it turned out, they agreed.
Flash forward to very recently when I had a new coaching client who invested $60,000 with me. She said it was the most that she’d spent for anything in her life except her house, and she got a really good return on that investment.
But what I think was important is that she had been struggling with not charging enough for her services and working with clients who were too small. She went right out, got a client and told them that the price was $60,000. By investing with me, she’d expanded her idea of her own value and she was able to embody it. And this client said yes to her.
“Your price should honor you for the work you put in and for your value.”
Pricing is both an art and a science. When it comes down to it, price communicates the value of what you’re offering.