I’m not telling you this to brag, and I know that talking about money, especially women talking about money, can make people uncomfortable. I’m telling you this because what women charge in business is something that I feel needs to be discussed.
As a business coach for women I want to help women in business embrace their worth because so many women second guess themselves and undercharge for their services as a result, just like I used to.
I’m now in a place where I am confident that I charge the right hourly rate to my clients based on my expertise and the value that I give to them, and I want to help you feel the same.
Why It’s So Easy To Undercharge Yourself
First, let’s talk about why it’s so easy for us to undercharge ourselves. Unshockingly, it is largely to do with client expectations.
I once had a discovery call with a potential client who was looking for a coach to help her sell $200,000 worth of her new course within a year. I explained how I could help her do this and all was going well until I informed her that I charge $500 an hour for VIP coaching calls. Her response was one of anger. She was furious that I had the audacity to charge so much and told me that a business coach should charge no more than $100 an hour at the most.
While at this point I knew this person wasn’t my ideal client, I explained exactly what she would be getting for that $500 an hour:
1. A coach who actually runs a successful business and who has been in business for close to 9 years. I built one of Australia’s leading parenting blogs by learning everything I could about an e-commerce platform; part of validation sales, finals branding, email marketing, social media, blogging, creating challenges, SEO, copywriting and so much more.
2. A coach who pays to play. I pay to stay in the Australian and international business loop by attending high tickets events around the world. This allows me to give my clients access to a strong network of influential business owners, connecting them to the right people they need to grow a sustainable and profitable business.
3. My time. As a business coach, an hour of coaching with me is not just an hour of coaching. I spend time doing research, prepping for my calls, planning strategic direction to take in our sessions, providing email support, making introductions, and on top of all that, hour-long sessions.
Suffice to say, I didn’t end up onboarding this person as a client, which to be honest I’m completely fine with. I want to work with people who value my work. She valued me at only $100 an hour, even though she wanted me to help her earn $200,000 within a year, and charges $1000 herself for her courses. That math just doesn’t add up. If you want a certain result, you have to expect to pay a fair price.
Why I Feel Comfortable Charging $500 an Hour
I have paid tens of thousands of dollars over the years educating myself, growing my network, and attending masterminds and business events all around the world. I continue to do this so that I can offer my clients up-to-date information and effective advice that will allow their business to grow. My expertise is valuable, which is why I charge $500 an hour.
So, I want you to ask yourself, what do you charge? Add up all of your expenses, things like prep time, travel, materials, and whatever else you use to provide your product or service. Do you think your price is fair, or are you short-changing yourself? Explore your true worth and value to discover if perhaps it’s time to up those prices.
Be proud of the work you do and stand by your worth because when you value your own worth, your clients and customers will as well.
Have an awesome day,