Welcome to today's episode, where we navigate the tricky terrain of pricing your services as an endurance coach. How do you determine the right value? It's a question that trips up many in the coaching field, leading to a dangerous pitfall - undervaluing what they bring to the table. Our discussion today will help you shift your mindset and acknowledge the true value of your services.
We kick off by exploring the wealth of knowledge and experience that endurance coaches bring to their clients. Remember, what you're providing isn't just a training plan - it's the cumulative wisdom gained from years of experience, training, failures and victories. Each of these facets adds value to your service and should be factored into your pricing.
Then we delve into the Expertise Gap. As coaches, we can take for granted the skills we've honed over the years. Things that seem obvious to us can be game-changing for our clients. They're not paying for something they could do themselves, they're paying for your unique knowledge and abilities.
We then turn our attention to pricing beyond time. It's a common mistake to price services based on time spent, but the value you provide goes beyond the hours you put in. Just as an architect doesn't merely charge for the time it takes to draw blueprints, you should consider the value of your creativity, your vision, your ability to strategize a path to your clients' goals.
Underpricing can be tempting, but it comes with its own costs. We look at the repercussions of underpricing your services, which can include impacting your financial stability and inadvertently sending a signal to potential clients that your services might be inferior.
A crucial discussion point is about avoiding personal bias in pricing. As coaches, we must resist the urge to price our services based on what we would personally be willing to pay. You're not your client - you have a level of expertise they're investing in.
Shifting the perspective can be a powerful tool in reassessing your pricing. Try to see things from your clients' viewpoint - the goals they're striving towards, the value they get from your coaching, the time and energy they save under your guidance.
Finally, we talk about overcoming the hesitation to charge what you're worth. Your services have a real, tangible impact on your clients' lives. By pricing appropriately, you affirm this value and the results they can expect to see.
Our episode today has been about recognizing your value and shifting your pricing mindset accordingly. It's not an easy task - it requires confidence, self-awareness and a strong belief in your worth. But remember - your clients aren't just paying for a training plan, they're investing in your hard-earned wisdom and unique expertise. It's time to give yourself the credit you deserve and price your services accordingly.
Training Tilt is an all in one coaching and e-commerce platform that has everything you need to create, build, and grow your endurance coaching business online. You can learn more about Training Tilt here
Creators & Guests
Cam Langsford @ Training Tilt
Founder of @trainingtilt Auckland, New Zealand
What is The Endurance Coaching Business Podcast?
Short actionable tips to help create, manage or grow a running, triathlon or endurance sports coaching business online