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Pricing: Less is More - Coaching Success - #485

Pricing: Less is More - Coaching Success - #485

FromBarbell Logic


Pricing: Less is More - Coaching Success - #485

FromBarbell Logic

ratings:
Length:
17 minutes
Released:
Sep 22, 2023
Format:
Podcast episode

Description

When it comes to pricing, less is more. Fewer options means less hassle for you and less decision fatigue for your customers. When it comes to pricing, fewer options is better for your business. Pricing: Fewer Options is Better It's easy, especially as a small business, to bend over backwards for each customer. You develop a different price for each customer, and before you know it every customer is paying a different price. Knock this off. Don't have a scarcity mindset. Develop few pricing options for your customers. This forces your customers to make a decision and simplifies your billing. Pricing: Less is More When it comes to revenue, you want monthly recurring revenue (MRR). This means that each month, the revenue recurs. The client pays the same amount, each month, automatically. Do not force your client to opt-in each month and decide whether they want to pay you each month. This must be automatic, whether it be through ACH or Stripe or through a credit card. This allows you to predict revenue each month. Furthermore, contracts are unnecessary. If clients cancel, they cancel, but make the signup process simple and painless, make payments automatic, have few options, but then work to retain your clients. Relatedly, charge the same each month. This might mean that certain months, your clients receive more service, other months they receive less. Even starting with good intentions of few options and automatic payments, you can exception your way into infinite payment amounts. Even in December, when clients may train less and you may have fewer options, the price remains the same. Ultimately, this is convenient for you AND your client. Both you and your client have the same expectations. Now, it's your time to deliver more value than the price they're paying each month. Pricing: less is more. This podcast is brought to you by TurnKey Coach. Enhance your coaching effectiveness and efficiency with TurnKey Coach. You can learn more by going HERE. Check out Coaching 101 - the new Academy course designed to cover the basics of coaching. It's leaner and tighter than our other offerings (and cheaper). Check out the Barbell Logic podcast landing page. Get Matched with a Professional Strength Coach today for FREE! No contract with us, just commitment to yourself: Start experiencing strength now: https://store.barbell-logic.com/match/ Connect with the hosts Matt on Instagram Niki on Instagram Andrew on Instagram Connect with the show Barbell Logic on Instagram Podcast Webpage Barbell Logic on Facebook Or email podcast@barbell-logic.com
Released:
Sep 22, 2023
Format:
Podcast episode

Titles in the series (100)

Join expert voices from Barbell Logic and others from the world of strength for resources to help you get strong for life. Get coaching options and more educational content at barbell-logic.com.