Have you raised your rates in the past, only to slash them again because people stopped saying ‘yes’ to you?
Did you decide that people won’t pay you beyond a certain price point, even though you see other coaches charging, and getting paid, more?
Have you lowered your rates in an attempt to be accessible to the masses, and yet you’re still attracting a small handful of clients (the loyal ones who love your small rates)?
At the moment it might seem, and feel, impossible for you to double, triple, even quadruple your rates and get paid that.
But I can assure you that most coaches who are getting paid 5-figures and even 6-figures for their services felt this way at some point.
I’ve addressed three common barriers to stepping into your value and confidently raising your rates and, of course, getting paid at the level.
See if you recognise yourself in any one of these and decide today to burn the bridges and uplevel. This really is the fastest route to increasing your bottom line and hitting your big income goals.
#1 Limiting Beliefs: People won’t pay me / I’m not good enough / Who do I think I am?!?
You have to become the coach who gets paid 5-figures for her coaching on the inside, in order to become the coach who gets paid 5-figures on the outside.
As within, so without.
You have to do your inner work to raise your self-worth and self-value so that your beliefs and self-concept is congruent with your higher price point.
You must eliminate your doubts, fears and insecurities about your ability as a Coach, and stand fully in your power with confidence and in full integrity.
How can you do this?
- Continuous growth and development in your own skills and knowledge
- Daily visits to the spiritual gym AKA do your mindset work and be disciplined
- Invest in yourself at the level, or higher, that you’re asking your clients to invest in you – you attract what you are so if you’re cheap then you’ll attract cheap. Don’t be cheap.
It’s also important to appreciate the concept of lag-time. When you raise your rates you’re going to continue to attract those who were at your previous rate level for a short period of time.
They’ll say no to your increased rates. They’re merely a reflection of who you were. Don’t be discouraged. As you hold steady to your new rates, those “I can’t afford you” folks will fall away and your next level clients will be drawn to you and your next level energy.
#2 Philanthropic notion that “I want to help everyone” / “ I don’t want to abandon anyone”
When you constantly discount your rates because you think you’re doing someone a favour, you’re effectively disempowering them.
The message you’re sending is “I don’t believe that you have what it takes to make the way to get what you want”
As you grow, your clients have a choice to grow with you or not. Don’t stay small because of the misplaced notion that you’re abandoning anyone.
As you grow, you’ll attract the clients who are at the next level and another coach will step in and fill the space you left behind. The Universe abhors a vacuum.
Your next level clients are seeking to work with someone who is where they want to go – be that someone.
And of course, if you’re constantly worried about money and you’re living in a state of stress, then you’re not going to be operating at your highest and best for your clients. Serve yourself first and then you’re better equipped to help more people.
#3 Your rates are incongruent with who you’ve become
A common complaint I hear when coaches resist raising their rates is “I’m not getting paid my current rates so how can I charge more?!!”
These coaches believe in their offers and they have complete confidence in their ability to create transformation but they’re NOT charging the rates that reflect that!!
Yep! You read that right.
Your lowly rates are incongruent with who you are!! Raising your rates is actually overdue!!
One of my clients recently had this exact experience. Her client flow had all but dried up and she was frantic. We discussed raising her rates and within a week of tripling her price and tweaking her offer, she signed 2 clients.
Your inner and outer world is constantly working to create a state of alignment. Your brain does its utmost to relieve the structural tension that is created by incongruence with your inner and outer states.
So consider your own situation and decide what is stopping you from stepping into your value and getting paid what you want.
Then decide to do something about it.