August 20, 2001 

Learn how to price your coaching services in this free transcript of a recent class conducted by a coach earning well into six-figures.

Dear Coach:

If you've been wondering how to price your coaching services and how to present your pricing and packaging to clients, then I believe the following transcript of Robert Alderman's TeleClass on this topic will provide you with a step-by-step plan.  In this transcript, Robert covers these 10 points via lecture, discussion, role-play and Q&A.

Top Ten Pricing Strategies
by Robert Alderman
1. Pricing is in your head, not the clients.  Base pricing on perceived value, not time.
2. Develop a three tiered price range, with optional benefits.
3. Stop counting clients and start counting revenue.
4. Ask for a minimum of three months up front.
5. Credit cards are the key to effortless accounting, be a model.
6. Add at least 50% of one months coaching for your intake fee.
7. If you find a client with potential and short on cash discount on a graduated scale. Make it work, no matter what.
8. Whatever you believe your value is as a coach, double it.
9. Learn to articulate coaching to create a "perception of value."
10. Create a structure that is commensurate with the value your clients are receiving.

If you prefer to listen the to RealAudio version of the live TeleClass, please click here:
You will need the free RealPlayer 7 or 8 from http://www.real.com.

This pricing lesson is just one of 100 lessons in the Full Practice 100 ecourse offered by CoachVille for its members.  Check out all of the goodies -- including the CoachVille Conference (March 2002) fully described at the end of this issue of Today's Coach.  

Coachably yours,

Steve Davis

The Top Ten Pricing Strategies for Coaches

What follows is a Teleclass hosted by Thomas Leonard featuring Robert Alderman on August 9, 2001 - 5:00 p.m. EDT. This teleclass discusses ten practical and proven strategies for effectively pricing your coaching services by considering both the clients perspective and your own issues around pricing your services.  Copyright 2001 by Robert Alderman.

TJL: Welcome to the pricing class with Robert Alderman; he'll be joining us in a few minutes. Let's hear about the price points at which you're charging your clients…. (at this point, participants discuss their various rates/pricing plans until the special guest arrives on line).

Robert, we have about 20 folks on the call; we are live and we are taping. If you wouldn't mind just sharing a bit of background on yourself - let the folks know who's sharing with them their pricing experience.

RA: My coaching history goes back quite a ways; I was just looking at my Coach U number and it's 000167 - what does that mean, Thomas?

TJL: It means you're the 167th person to join Coach U, which is over 5,000 now; you're a veteran.

RA: I've been around a long time and I'm not trying to make anybody feel bad, but it was $695.00 in those days and Thomas coached you!

TJL: So much for history!

RA: That's when I basically got into coaching; I worked with Thomas as a coach on the internet and then I - that series of coaching lapsed, and then he recommended that I get a teleclass or a one-on-one coaching relationship and he recommended a gentleman by the Sandy Vilas, and Sandy coached me for about a year and a half. In the course of working with Sandy, I was able to build what I would define as a full practice, and then following that, Sandy encouraged me to write all the things that I had done to create that full practice, and see if other coaches wouldn't find that valuable. 

So, I wrote the full practice form, which was a long time ago, and it seems to be just as viable today as it was then. People need to build the practice, which is probably in the upper percentages of income of coaches, and I have defined, and re-defined, and re-strategized things based on pricing, and it seems to be an area in which coaches have a lot of angst around, and so I had a conversation with Thomas and said I'd like to have an opportunity to share my ideas about what has worked for me. One of the things you will find on this call is that I'm not talking about anything theoretical; everything on this call is something that has been proven through practical application.

TJL: Great; Robert, let me stop you right there. Thank you very much. We're going to be walking you through a series of 10 points you made to me, which are called the "Top 10 pricing strategies" and asking you to describe a bit about that, but before we start talking about that - I'm curious, when you first began coaching, what did you charge and what do you charge now and how did you take it from that to this?

RA: Well, when I first started, and you remember the climate when I was number 167 - if you said "coaching", people really rolled their eyes; they had no idea what you were talking about - I was sort of in disbelief that someone would actually pay me to talk to them on the telephone, so I was giving 4 30-minute calls for $150 a month.

TJL: And that was back in, what, '94, probably?

RA: Right. At that time, Sandy Vilas was my coach, and he said, "Robert, you need to go to 3 times a month, and you need to raise your prices to $250."

TJL: What was your reaction when he suggested that?

RA: I was in total denial that this is what I should be doing, but I did it because this is what my coach said. And after, feeling so guilt-ridden over what I had done, I called up every client and told them I had made a mistake and I was going back to $150 - and this is a true story! Now, why did I do that?

TJL: Actually, given our time, I'm going to push a bit further here. How did you get from that - $150 or $250 - to what you currently charge? We're just a bit tight on time, so I'm going to push a little bit.

RA: I did it in increments, and everytime that I decided that I was going to raise my prices, I was feeling more empowered about the results that I was helping people achieve in their coaching practice. And today, my highest price client is $2,500 a month and it's my belief that if you called him up and asked him what value he was getting, he'd tell you, "It's the best money I ever spent."

TJL: So, is it fair to say that when you first began coaching, you were looking to charge a fee that you felt comfortable with, and now is it true to say that you're charging a fee that empowers the client?

RA: Exactly.

TJL: And, because you've gotten better over the years, because you appeal to a higher-end client, because you have a track record, because you feel - you know, it's like you're feeling bad when you raised your price too soon back in '94 or '95, my guess is you sleep pretty well at night charging even that high level of a fee because you're confident in your ability and your client's ability to make that fee seem like pennies on the dollar when it comes to the benefit that it creates.

RA: Absolutely, and I think that the test - and you might not agree with this, but - the longevity of the client, I think, attests to the value they're getting, and some of my clients have been in coaching 5 years.

TJL: Gotcha. So you've got a low "churn factor", then?

RA: Very low.

TJL: Is there anything you'd like to suggest - we'll go over the 10 strategies in a minute or so - is there anything you'd like to - to kind of get the attention of our listeners, both live and on tape - to just wake them up a bit, about the whole pricing theme or confusion that coaches seem to have around this area?

RA: I think the #1 thing on my list is that coaching is more a problem for the coach, than it is for the client.

TJL: So, you've got here, "Pricing is in your head, not the client's."

RA: Exactly.

TJL: What does that mean?

RA: First of all, most people don't know what coaching is, and if you create a perception of value to that client, they, when you're finished with that presentation, they should feel that it would be more expensive not to have you in their life than to have you in their life, and therefore, why are you only charging $150 or $200. I'd like to give a specific example of this.

TJL: Please do.

RA: Can I have a role-play with somebody?

TJL: Looking for volunteers.

RA: Don't all jump at once!

XXX: I'll play.

TJL: What's your name?

Lea: This is Lea.

TJL: Go ahead, Lea.

RA: I'd like to ask you - we'll do this real quickly, okay? I'd like to tell me 3 things you'd really love to get on the track for in the next 180 days. Three things that you would really like to incorporate into your life that are specific outcomes, goals you'd like to work towards - and I mean big, powerful things. What would be the first thing that comes to your mind?

Lea: This is as a human being or as a coach?

RA: As a person.

Lea: A national commercial.

RA: Okay; and the 2nd thing?

Lea: More balance.

RA: Okay, and the 3rd thing?

Lea: Corporate clients that want to do role-plays and improves as a way of teaching.

RA: So, corporate clients with improv's as a way of teaching, is that right?

Lea: And ROI kind of stuff, yeah.

RA: Okay, now let me ask you this question. If you and I decided we were going to work together, and you felt, as the relationship developed, you were putting the strategies in place that you could now see the possibility of getting a national commercial, but you were starting to feel that you were implementing strategies that integrated more balance into your life, and that you were also now on a path of creating a way to reach the corporate clients that would participate in the program that you had previously described to me - if you felt that those 3 things were becoming a reality or that you were on the path to achieving those, what would that be worth to you?

Lea: I'd be the kind of person that it depends on the coach, too; I would want chemistry, I would want….

RA: No, but let's go back to this. let's just take….

Lea: What would it be worth to me? Anywhere from…. It could be priceless!

RA: Okay, let's just say it was priceless.

TJL: And the best coaching is, right Robert?

RA: Absolutely. Now, how is she going to tell me, after she just told me it's priceless, that my coaching is too expensive?

Click here for the rest of the transcript.

Issue Sponsor: CoachVille Coaching Conference 2002.

If there's a logo, it must be real...
Announcing the 2002 CoachVille Coaching Conference
The most advanced coaching conference ever offered.

Thursday - Saturday
March 14-16, 2002
(Bonus Boot Camp day on Wednesday, March 13)
9am-5pm all days
Las Vegas, Nevada, USA
Maximum capacity:  800  (currently at 500 registrants)
Conference fee:  Discounted pre-registration fee of $179 until August 31, 2001, $279 until October 31, 2001, and $379 thereafter.  Full payment is made upon registration, but a full refund is available is you withdraw prior to February 1, 2002.
Click here to register.
Link not working with your browser? Go here:
http://www.thomasleonard.com/teleclass and type in class 2060.

The presentations at this conference will also be webcast (meaning video and audio streaming for a fee of $79 which includes 1 year access to archived video and audio files.  The webcast is expected to be live and it will also be archived for later access and the access fee includes selected handouts and contact information about the presenters.  The archived webcast is available for free to conference registrants.

Who is the conference primarily designed for? 
While everyone is most welcome (especially new coaches for whom we even have a Boot Camp day set up for them) the conference content has been designed for:
1. Intermediate/advanced coaches who have been coaching for 2-20 years
2. Coaches who are on a fast learning/success track
3. Coaches who coach entrepreneurs, small businesses and corporate clients
Again, everyone is welcome, but the content is rich and the pace is fast.

Please note:  Thomas is conducting a bonus, one-day Boot Camp for new coaches on Wednesday, March 13, 2002.  The extra cost for this one day is $79 for conference registrants, $179 for non-registrants.

What will I learn at the 2002 CoachVille Conference?
1.  How to use advanced coaching strategies and models with higher-end clients.
2.  How to use client coaching programs with clients.
3.  How to package and price your services for the higher-end client.
4.  How to develop multiple, lifetime passive-revenue streams.
5.  How to fill your practice and keep it full with marketing and referral engines.
(For a list of all of the conference topics, please see below.)

How is the conference organized?
We are keeping the conference as interactive, effective, and simple as possible.  You'll have plenty of free time for networking and for enjoying the sights and entertainment of Las Vegas.
1. We're using a classroom-type layout where everyone is in one of two large, comfortable event rooms during the conference.  
2. 30 interactive presentations are conducted over 3 days, each lasting from 45-90 minutes.  (Want to be a speaker?  Details below.)
3. All sessions are interactive (and include step-by-step handouts) and are conducted by experts with a track record.  
4. No break-out sessions.  (Why not?  Because the content fits for virtually all intermediate/advanced coaches.)
5. The sessions will be videotaped for video and audio streaming (webcasting).
6. Daily Social Hour/Networking Party (no-host bar, light food).
7. Organized outings to Cirque du Soleil and other shows.
8. No dinners/banquets, no keynotes, no panel discussions.
9. One buffet lunch is provided.  You are on your own for other lunches and all dinners.

o Dean Jackson (confirmed)
o Julie Hewett (confirmed)
o Thomas Leonard (confirmed)
o Dave Buck (confirmed)
o Robert Alderman (confirmed)
o Allison Tiffany and Kim Wright (confirmed)
o Sandy Vilas (confirmed)
o J.R. Russell (confirmed)
o Blair Hornbuckle (confirmed)
o Mary Wright (confirmed)
Approximately 10 additional experts will be presenting.  
We feature only EXPERTS at this conference.  
(Note:  Thomas will be personally conducting 8 of the 25+ sessions.)

Conference Topics

Marketing Sessions
How to Get Crystal Clear On Exactly What You Provide To Potential Clients.
o How to Develop a Network of 5,000 within 2 years.
o How to Position Yourself In the Marketplace by Using the 10- Branding Process.
o How to Package What You Know Into a Money-Making eBook.
o How to Set Up, Manage and Harvest Ideas With An R&D Team.
o How to Launch and Grow Your First (or second) Ezine.
o How to Tap Into HTT (highly-targeted traffic) of the PPC (pay per click) Search Engines.
o How to Get Your Foot In the Corporate Coaching Door.
o How to Set Up a Course-by-Email System to Serve 1,000,000 "clients"
o Bonus Segment #1: Online Web Tour of the 20 Best Coaches' Websites.
o Bonus Segment #2: Radical Web Design -- the 2-Page Sales Letter and Why It Works.

Intermediate>Advanced Coach Training Sessions
The 5 Coaching Models That Work Best With Your Best Clients.
o The 10 Core Competencies That Every Coach Should Have.
o Double the Power of Your Coaching By Eliminating These 10 Common Mistakes.
o The 10 Most Important Business Concepts That Every Coach Should Know.
o What Not To Say or Do In Order to Protect Yourself From Legal Liability.
o How To Lazer Coach Effectively (and safely).
o How to Enroll and Manage Clients in the Group Coaching Format.
o Using Visual Models and Diagrams to Make Your Point.
o Bonus Segment #1: Coaching Critique Demos -- Real Client Sessions, Critiqued.
o Bonus Segment #2:  Overview of the Most Popular Coaching Client Assessments.

Learning and Using Client Coaching Programs
Working with Clients On Their Personal Foundation.
o Teaching newly-in-business clients the 50 most important concepts in business.
o Helping Your Clients To Accelerate Their Personal Evolution.
o Training managers to be better leaders using the new Leadership Competencies Program
o Working with Clients To Master the 28 Attraction Principles.
o Coaching Your Clients To Design and Ease Into A Perfect Life.
o Bonus Segment #1: Crafting a Client Coaching Program Using the 5-Day Format.
o Bonus Segment #2: Crafting a 50-day eCourse For Clients and the Public.

Boot Camp Day (Wednesday, for new coaches)
$79 additional fee for Boot Camp Day
o Learning -- and Customizing -- the 10 Most Common Coaching Models.
o Getting Started Quickly as a Coach: Proven Ways to Get Your First 10 Clients.
o Mastering the Top 10 Questions that Turn That Potential Client Into a Paying Client.
o Quick Overview of Client Coaching Programs.
o Setting Up Your Client Properly for their First 3 Coaching Sessions.
o The 10 Steps To Setting Yourself Up In Business, as a Professional Coach.
o The Certification Paths.
o Bonus Segment #1: Coaching Exercises.
o Bonus Segment #2: Coaching Demos and Critique-ing (Real-time).

Discounted Pre-registration is now available here.
CoachVille Conference tuition fee is $179 (discounted early-early-bird registration through August 31, 2001.  Then, $279 through October 31, 2001, and finally, the regular conference fee of $379 applies as of November, 1, 2001.

Thursday - Saturday
March 14-16, 2002
(Bonus Boot Camp day on Wednesday, March 13)
9am-5pm all days
Las Vegas, Nevada, USA
Maximum capacity:  800  (currently at 410 registrants)
Conference fee:  Discounted pre-registration fee of $179 until August 31, 2001, $279 until October 31, 2001, and $379 thereafter.
Click here to register.
Link not working with your browser? Go here:
http://www.thomasleonard.com/teleclass and type in class 2060.

Boot Camp
The Boot Camp for new/newer coaches is an add-on of $79.  You may attend just the Boot Camp if you wish.  We have plenty of capacity for the Boot Camp session.  Much of the Boot Camp session is conducted by Thomas Leonard, founder of CoachVille.com. 

Guarantee of Satisfaction
If, at the end of the conference, you feel that the conference was not worth the $179/279 fee you paid, you will be refunded your conference fee in its entirety, no questions asked.

The hotel info, room rates and travel packages will be known/shared by September 30, 2001.  The hotel will likely be a medium-end hotel on the Las Vegas Strip.

You may cancel at any time until February 1, 2002, with no service charge.
Cancellations after February, 2002, incur a $79 service fee.
You may transfer your registration to anyone else at any time with no service fee.

If you would like to be a presenter, please email thomas@thomasleonard.com with the following.
1. A Top 10 list of what the participants will learn or be able to do by the end of the 45-90 minute segment.  Be extremely specific/measurable.
2. The URL of your website where we can see examples of your work/focus/product/services.  If you don't have a website, you cannot be a presenter. (sorry)
3. Any other info you'd like us to know including speaking experience, specialty experience, etc.
We comp presenters into the conference, but there is no honorarium or travel/lodging expense reimbursement.   97% of your presentation must be rich, valuable, learn-able content.  3% may be a semi-plug. (We want you to win, but the focus needs to be on value-delivered, not hype.  We do have a place for all presenters to display their brochures, tapes, books, etc., at no cost to you.

Please note that most of our presenter slots are full but that we do have several openings.

We'd appreciate your help.  We'll be broadcasting the available volunteer opportunities in October 2001.  While we very much appreciate your interest in volunteering, we ask that you register/pay for the conference as well.  Given our price point for the conference we are not able to comp the volunteers.  Please understand.

We haven't decided yet if we're having an exhibitor area yet.  We'll know by late September 2001.

Please email help@coachville.com.