WHAT ARE YOUR RATES??

How often, as a coach or trainer or service provider, do you get this question?

And then, how do you answer it?

Before I get into how you SHOULD answer it, let me get into the mindset of the question in the first place.

You see, we live in an "hourly wage" world, at least in the United States, where labor (what people charge you to do something for them) is determined by how many hours it takes to get that something done.

Need your car fixed? That's always parts plus "labor." (the hours to get it done)

Need an appliance fixed? "$75 to walk in the door, then $150 per hour to fix it."

Therapy? "$125 an hour please."

Massage? "$90 per hour, $50 for 30 minutes."

Outsourced virtual assistant? "$7 per hour and I'll run your whole business."

It goes on and on.

But here's the problem with that - when you start breaking things down to how much TIME it takes you to perform a certain task, you are flirting with commoditizing yourself and your offerings.

𝑷𝒓𝒐𝒔𝒑𝒆𝒄𝒕𝒔 𝒔𝒕𝒂𝒓𝒕 𝒕𝒉𝒊𝒏𝒌𝒊𝒏𝒈 𝒂𝒃𝒐𝒖𝒕 𝒕𝒉𝒆 𝒏𝒖𝒎𝒃𝒆𝒓𝒔 𝒂𝒏𝒅 𝒕𝒉𝒆 𝑪𝑶𝑺𝑻, 𝒓𝒂𝒕𝒉𝒆𝒓 𝒕𝒉𝒂𝒏 𝒕𝒉𝒆 𝑹𝑬𝑺𝑼𝑳𝑻𝑺.

So as a service provider, or coach, or trainer, I want you to get out of the "hourly wage" hamster wheel mindset and enter the world of charging for your RESULTS.

How much would your prospect pay (invest) in achieving the results they want? What is THAT worth?

When someone asks me what I charge per hour, I simply say -
"I don't charge by the hour, I charge for the results you are looking for, and based on our discussion, I'll come up with three packages that will achieve various levels of those results."

Now, the hourly cost is out of their minds and they are simply thinking about the results they could realize by hiring me, no matter how much "time" it takes.

So stop charging by the hour - start charging by the results you can attain for your customer.

Both your customers and your bank account, will be thrilled.