Stop “charging what you’re worth” & Use this No-Fail Formula instead…

How many times have you heard experts tell you to “charge what you’re worth”? Sounds like a good idea, but….

Do you get stuck in trying to figure out what YOU are worth?

Charging what you think you are worth can bring up some serious self-doubt, confidence issues and overwhelm.

I find that when holistic practitioners and heart-centered coaches try to charge what they’re worth, they end up getting caught up in a tangled mess of emotions and realize they have a lot of “self-worth work” to do before they can actually “charge what they’re worth”.

All that self-work is necessary and a good thing. I’m 100% for doing this work to better understand yourself! But…..

Don’t wait until you’re perfect and have YOU all figured out (which could take years!) to start charging the prices you really desire for your services.

Stop charging what you’re worth and start charging what your work is worth in your clients’ lives.

Just follow my simple 4 step Transformation Formula….

Step 1 – Charge for the Transformation – Stop charging what you’re worth and start charging what you’re WORK is worth. Clients aren’t paying for your worth, instead they’re investing in their own worth. And what they are seeking is a transformation. So what is the transformation of your work really worth?

Start by looking at the value of the transformation you help people achieve. To determine the value of the transformation, look at the 5 key life areas and determine what transformation occurs in each area for your clients when they work with you and what the real value of that transformation is.

These are the 5 Key Life Areas:

  • Health & Well-being
  • Relationships
  • Finances
  • Career
  • Lifestyle
  • Here’s an example: If you help women achieve their ideal weight, you know that it’s not just about the weight they’ve lost. While your client wants to lose weight to look better, they’ll also feel better and have a ripple effect of positive change in many areas of their life. They transform their entire life when they lose weight! What does the weight loss mean on a deeper level in each of the five key life areas for your client?

    Health & Well-being – her health is better, she’ll avoid unwanted medical bills in the future plus save money on all that junk food and failed diet strategies, books and programs. Value: $10,000 (or more!)

    Relationships – she’ll have more energy and bring that to her relationships. She’ll experience more confidence in her intimate relationships and be more active with her children. Value: $5,000

    Finances – she’ll save money on wasted programs and have money left to reinvest in herself for things that really matter to her. She’ll have more opportunities for promotions with her increased confidence. Value: $6,000

    Career – she’ll gain more confidence in her career, allowing her to take leadership roles, be promoted or even follow her passion in life. Value: $4,000

    Lifestyle- her lifestyle has transformed. Instead of worrying about her weight and feeling trapped by it, she is trying new things that feed her soul and light her up. She has new interests that fuel her and has more time and energy to enjoy them. Value: $3,000

    Add the total “value” in each area and you have the “worth” of your work.

    H + R + F + C + L = Total Transformation

    In the example above, the Total Transformation equals $28,000.

    Most likely the total transformation will be much higher than you can imagine charging for your services. But you’ll see immediately that you have not been charging enough where you currently are.

    Step 2 – Get Comfortable Raising your Fees – Start moving your prices higher with this Total Transformation number in mind. Since you’ve likely been trying to determine what you as the coach or practitioner are worth and hitting roadblocks, most likely you are undercharging for your services. You may feel uncomfortable charging more, but notice this: You also feel uncomfortable charging too little. What is more uncomfortable? Staying where you are, charging not enough? Or stepping up and charging what the transformation is worth? Look at it this way, either way you’re going to experience some discomfort! But when you become so uncomfortable with your old way of undercharging, you’ll be ready to make the move to raise your fees with confidence and clarity.

    Step 3 – Talk Transformation with your Clients – In order to charge higher prices, you have to feel confident in asking for these prices. One way to gain confidence is to have a heart-to-heart with your client during an initial consultation or discovery session. Which means being open to really taking a hard look at what will happen for them if they don’t get your support and what will happen if they do make this transformation. Your client needs you to paint this picture for them. If you struggle with what to say during your initial consults or discovery sessions, read one of my recent blog posts here.

    Step 4 – Embrace Your Role – As a holistic practitioner or coach, you’re in the business of changing lives. You’re here to serve others and your work is your life purpose, isn’t it? If you truly believe your work is your life purpose, then you know that you are here to help change the consciousness of the planet. When you embrace your role as a leader in this consciousness movement, you’ll see your work as something much bigger than yourself. It’s truly about the transformation that is taking place globally. And that transformation is priceless.

    I’d love to hear from you! Share your comments below on the blog!

    Thriving Together,

     

     

    Suzanne Monroe
    Founder & CEO, IAWP

    P.S. This post was taken from the IAWP newsletter. Not getting our newsletter? Sign up by entering your name and email at the top of this page and you’ll also receive our gift to you, The Wellness Professional’s Success Starter Kit!

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    Are you a wellness professional, holistic health practitioner, coach or other health-minded, heart-centered entrepreneur who wants to learn the business and marketing tools to create lasting success? Get your FREE Wellness Professional’s Success Starter Kit at http://www.iawp-connect.com and jumpstart your wellness practice today. Suzanne Monroe is a Holistic Business Coach and the Founder & CEO of the International Association of Wellness Professionals, where passionate practices become thriving businesses.

    6 thoughts on “Stop “charging what you’re worth” & Use this No-Fail Formula instead…

    1. Suzanne Post author

      Hi Judith, I’m so glad this post was helpful for you and thanks for sharing your comments!

    2. Eriall Steiner

      Even though I have no problem raising my rates, this formula does help a lot! Thanks so much Suzanne!

    3. Eileen Machida

      Charging for the process makes so much more sense because people pay for results, not a person.

      Great blog post

    4. Suzanne Post author

      Thanks for commenting Eileen. Yes, results, solutions and the transformation are what people are investing in!

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