Office Hours | How to Take Your Coaching Online (Part 2)
As a follow-up to Part 1 of our Online Coaching conversation, this episode reveals some specific tips for how to determine pricing for your live-streamed coaching sessions.
Let’s start with a huge and incredibly important DON’T: Never sell your services by the hour (or even by the session). Going this route means giving your clients total control of your process and an escape hatch if the work gets too tough. (Of course, you’d never want to trick your clients into purchasing more services than they need, but most clients need far more support than they realize.) One big breakthrough is not enough; they may feel done long before they actually are done.
What’s the alternative? Create packages of sessions. Doing this allows you to deliver real value to your clients, truly help them improve and develop, and embrace a business strategy that creates sustainable income for you as a coach.
Here are some rules of thumb for pricing your online coaching packages:
- Keep it simple.
- Offer at least three options / levels.
- Know your audience.
- Set a revenue goal and work backwards. (Check out our full blog post on this topic here for examples of calculating your own pricing.)
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