This is 90% of the issue when it comes to a lot of things in our life. But right now its causing coaches to struggle when then are coming up with a package. What they’re doing is putting themselves in a pressure cooker situation. It’s frying their brain. Thoughts like ‘It has to be perfect’ and ‘What if it doesn't work’ run through their minds constantly.
Managing your brain is a huge element of success and mismanagement can prevent people from achieving what they want. When you can manage your mind, you start holding yourself accountable and change the way you think of certain things.
Here are a few things I want you to keep in mind when you think about how to create coaching packages.
Come from a Constructive place when creating your package. This means coming from an Abundance mindset and trusting yourself. Believe that this program you're creating is exactly what your people need and that those that buy are going to be perfect fit. Remember you can always change, mold, upsell, downsell whatever you need to do if it's not the exact perfect fit for the person you're offering it to.
Know your own energy and mental capacity. When I completely sold out of one on one coaching I went into a period where I felt like I couldn't sell one on one anymore. My sales conversions went from 80% on a sales call to about 10%. I No longer felt aligned with selling one on one. I was overly tired and burnt out couldn't sell that package anymore
Then I went into group coaching. When I first started group coaching I tried multiple types of packages that matched my mental capacity. It’s important to test out packages so you can diversify your offerings and avoid getting burnt out. You want to continue to show up with vigor and excitement for your business.
When you're able to consistently show up with vigor and excitement pricing and sales becomes much easier.
Coming up with a price for your package can be tricky but here are some 2 key things to keep in mind when you decide on what you want to sell your package for.
Work from where you are. If this is your first package, or if you’re having trouble selling packages then work from where we are. Your first package doesn’t need to be $50 000. It won’t work if you never sold something at that price.
Be willing to work from where you are. High end packages provide a white glove service to your clients. I‘ve done a few high end programs and because of the monetary investment I’m more committed to getting it done and getting it done correctly. Otherwise I would’ve ended up half assing it.
You don't need to go high end on the first try!
I originally had a 2 month coaching package. It was doable, easy and fun. The price also felt good for what I was offering. Now I offer a year long package.
Everything feels the same. It’s doable, super easy, and fun. It’s the best thing for clients, and I know I can get results.
There is great enjoyment and fulfillment in selling but you lose that when you put on the pressure.
Sales is the transfer of energy, Sales is the transfer of excitement and anticipation. If they don't feel that from you they won't be inclined to buy from you. Then you think it's there's a problem with your package when really you showed up with energy that wasn't the highest service for the sale to happen.
Create Recurring revenue. But do it from a place that having the recurring revenue would be the most service for the problem you’re solving.
I went from a 2 month to a 6 month to a year long package. I noticed that many were choosing payment plan options when they joined my program. Because of this adding the longer packages didn’t turn off my clients completely. Not only that but having the longer packages also allowed us to do more work.
In 2 months they were able to make a few thousand dollars. But I wanted to help them make 6 figures. For most businesses that were newer or didn’t have the resources of big companies, doing this in 2 months was just not feasible.
As I transitioned to longer packages I had my two month package but it was no longer my primary package and not the only thing I was selling. Longer packages also allow you some breathing room. You’re not as stressed and worried every month or every other month about starting with zero.
I want you to know this because there is no right or wrong way to do this. You can start one way and move into another direction later down the line.
Now that we’ve covered what you need to know when pricing your package there's a few more things you need to do to make 6 figures.
It always comes back to your client's needs. Position your package in terms of what their problem is. Create your package, program, offer, content, everything based on what they want.
I tell my clients this all the time, We are scientists. Create a hypothesis, and then create experiments based on it. But most importantly be willing to fail at these experiments.
Let’s say that your ideal clients are struggling to lose the last five pounds. Solve the problem of losing the last five pounds. Name your package, and launch it. Don't just put it on a website and hope sales come in. That's not how this works.
No scientist is married to their hypothesis. They look at the data they got from the experiment and react accordingly. From there they can do another experiment, or maybe the hypothesis was wrong. Shifts and tweaks need to be made to get to 6 figures.
Are you solving the right problem? Is the name resonating with people? Are you attracting the right people? All these things need to be taken into account.
This is the process of creating a six figure business. It doesn't happen with one offer. Be willing to practice, be willing to fail forward, and be willing to adjust as needed. This includes everything from your conversation mechanism all the way to the actual package itself if you need to.
Finally don’t forget to name your package properly. The price is clearly defined and the problem it solves is very clearly defined. Let your intuition guide you. This is very much an internal process.
I personally like to do this at 4 am. I just got up and I’m having coffee. I’m not putting any pressure on myself to create an offer or anything like that. I’m just journaling and chilling.
Let it come to you and Trust it.
Group coaching offers many advantages over other types of offerings. There's a lot that goes into getting a group coaching program up and running.
If you're thinking about starting your own group program then I invite you to come join our upcoming FREE 5 day Fill Your Group Coaching Program Experience. I will show you how to create and fill your group program in just 5 days! Past participants have left with up to 60 leads. Click Here to Register for the FREE Fill Your Group Program Coaching Experience
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