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Are you a coach or a course creator who has a full diary has lots of clients, but you get to the end of the week, into the month, and you realize you're not actually making any money, or you're not actually making the level of money that you need to live on. If that is you, then you are going to want to stay tuned and watch this one because there's one thing you can change right now that can have a massive impact. When we talk about earning more in your business.

My name is Remi, I am from the online business temple. I am the creator of the temple, which was set up to help coaches and course creators who are looking to double their income whilst working less than their business coaches and course creators who who really want to have a freedom based lifestyle where they are not tied to their laptop all the time. So they have a business that runs a business that makes them money, but they are not tied to their desk for 40 or 50 hours a week. If that sounds like you, check out the link above or below the online business template.com to figure out how figure out find out how we can work together and help you in your business.

So we are talking about earning more in your coaching business. And there is one thing that we do as part of our earn more work less framework is when somebody comes on board to work with us, we are looking at your pricing. Now I am pretty sure that most of you who are coaches or course creators that are going to be watching this are not charging your your worth, you're not charging your actual value and underpricing your business and underpricing your services can be detrimental. And also often is why I see a lot of coaching clients who have on paper, a thriving business, they have customers, they have clients, but at the end of each month, they are still not making money, they are still not earning even comparatively what they would have earned if they were working for an employer.

And so my thing is, is why would you want to leave an employer, work for yourself set up to work for yourself. Be completely booked out and busy, but not earning enough money. That to me, is crazy. Now let's talk about underpricing your services. So most coaches and course creators will not charge their correct value their correct price. And there's a there's a plethora of reasons why, you know, ranging from imposter syndrome ranging through to perhaps just not understanding the value that you bring to the people that you help. And so what happens is, we kind of pluck a figure out of the air and go, Oh, this is what I'm gonna charge.

And actually, it is way beneath what it should be compared to the value that you are bringing or the service and the delivery that you are bringing, and the impact that you are making on the person that is receiving either your coaching or your services are your training or your course, right. So pricing is something that we always look at to get the right price in line with the value that the person at the other end is getting. And so here's some things that you need to think about. If you are in a position where you know your pricing isn't at the right place.

When you underprice your business and your your services, it leaves no room for negotiation. Absolutely none. Because you can't give somebody a price and then realize you're going to give them more than it's worth and then try and bump that price up. When you underprice you leave no room for negotiation. And in many way, it may be better to price too high because then there is room for negotiation of you know, knocking a little bit of money off you know, knocking off 50 quid or knocking off 100 quid, but when you underprice and go too low, there is just no bargaining power for you. There is no wiggle room for you, you are stuck at that one price. And that is it. Even if you over deliver, even if you give them double the value of what they paid, you can't go back and ask for more money because you've set your barrier too low. So if you are under pricing, I would consider I would ask you to consider thinking about adjusting your prices. Now when we talk about adjusting prices. It doesn't have to be you know, triple or quadruple what you're currently charging. It could be an increment of 50 quid or it could be an increment of 100 quid it could be that you bundle a couple of things together and that you know substantially can increase the value of what you are charging right now in Your business.

Another reason why underpricing your business and underpricing your services is dangerous is because customers will think that your product is subpar. Because most customers are pretty savvy, they know what they should be paying for coaching or services. And when you come in at being too cheap, it instinctively makes the customer go. Either they are not experienced enough, or I'm not going to get as good a service because the price is too low. And you think about this, anytime you go to buy a new thing, right? We tend to look at the prices, there'll be one that's really low, there'll be one that's kind of mid range, and then there's going to be one that's really high and often the high, when we get all that's too high, I'm not going to pay for that, because it's not worth that much money. And then we'll look at the lowest price and go, I could pay that. But it's probably going to be cheap, or it's probably not going to be as good as I want it to be right. And then you get look at the middle price. And you're like, Hmm, this feels right, this is about the right pricing point that I want to pay for this product or this service. So when you are in that bracket of being too low, or being underpriced, your customers will, generally speaking will think it's not good enough or that it's of a lower quality, even if it isn't. So just be super careful around around how you position yourself and how you are pricing yourself.

And then the final thing that I wanted to share with you around underpricing in your business is that what it's doing is what you're doing is diverting your attention away from quality customers. And what you're doing is you're attracting people who just want to bargain. So they may not even be your ideal customer, they may not be the right people that you want to work with. But your pricing is attracting the wrong type of customers. So if you've ever, you know, gotten a coaching call, or you had somebody come into your course, and you just know, they're not the right fit, but you've made some money, I bet you the amount of stress that they have caused you or extra work that they have created for you has been absolutely not worth the money. And I hear this all the time of people selling courses that are too cheap, or selling coaching packages that are too cheap. And then they had the wrong client and it is a nightmare refunds, you know, terrible reviews, upset customers stress to you as the coach or the creator because you've priced yourself wrong, and you've attracted the wrong people.

So they weren't my three kind of suggestions around underpricing and asking you to really consider where you're positioning yourself in your business. When it comes to pricing, and who you're attracting in your business. If you need help with pricing if you are not confident with setting your own pricing, if you are not actually sure what the value is that you offer, by all means, reach out, let's book a one to one call. And I'd be more than happy to help you with the pricing in your business to help you earn more in your business because that is what the temple is all about helping you to earn more money whilst working less in your business.

So I hope you found this valuable today. Let me know in the comments, and I look forward to see you soon. Take care my friend

Transcribed by https://otter.ai