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Do you have a full calendar, yet still don’t make the kind of income you dreamed of when you started your coaching practice? You can be the absolute best at what you do and still lose business to coaches that are nowhere near as skilled as you are.

So what do they know that you don’t?

In this episode, Marquel shares the main reason that coaches don’t get paid what they’re worth, the pricing mindset that keeps your income stagnant, and the ONE THING that will make clients pay you whatever you want to charge.

Highlights from this episode include:

  • No matter how much you know, if you don’t understand this one thing you’ll stay broke (1:49)
  • The one thing the smartest coaches focus on above anything else(2:01)
  • Why your hourly rate is having a devastating effect on your income (2:48)
  • Ask yourself this question to determine how much you’re worth to a client (5:10)
  • Do this for your clients and they won’t care how much you charge them (5:32)

If you want to know how to get 50-100 leads for your coaching business every single day, head over to getdailyclients.com to grab our free Paid Ad Playbook, as well as some other great bonuses.

Read Full Transcript

You're listening to “The School of Client Attraction.” Marquel Russell is the founder of Client Attraction University, a marketing consultancy helping you attract clients on autopilot and scale your business while working 50% less.

Quick disclaimer: a side effect of listening to the show is more clients, more profits, more freedom, and it's more impact in your business. Now, here's your host, Marquel Russell.

Marquel: Hey, what’s up, my friend? Marquel Russell here, and welcome again to The School of Client Attraction, and I'm saying “welcome again” because I'm assuming that you're here back from the first time for the second time or the third time or the fourth time or the fifth time or whatever the case might be. But if you hear for the first time, welcome. I'm excited to have you here.

What I want to do on today's episode is, first off, I want to share a quick story. I actually want to share with you why most coaches and consultants are underpaid, right? I want to share that with you and I want to share it with you in the form of a story because I think there's going to be very, very, very powerful for you.

So, let's say, Regina, the relationship coach, right? She charges $100 an hour for relationship coaching, right? And then you have Samantha, seven-figure earner, she charges $10,000 for her 12-week coaching program, right? [01:15.2]

Let's just say for example, Regina, the relationship coach, charges $100 an hour. She coaches these people for 12 weeks. So, she makes $1,200 over those 12 weeks. And then, Samantha, the seven-figure coach, makes 10,000 over those 12 weeks. What's the difference? And here's the crazy thing—Regina, the relationship coach, actually has been doing it longer than Samantha, the seven-figure income earning coach, right?

What's the difference? Here's the difference. Samantha understands what she’s selling. She's selling how coaches and consultants should sell based on outcome and based on transformation. Regina is selling based on hourly rate, essentially like an employee, if I’m just being totally honest with you. [02:02.2]

High-level coaches and consultants, they charge specifically based on transformation and outcome. They don't work hourly. But your average coach and consultant, that’s why the average coach makes about a few grand a month. Why? Because they charge hourly. They can only work so many hours. They can only serve so many people and they're trying to do one-on-one and things of that nature.

And I didn't tell you this. Samantha also does this $10,000 program for 12 weeks in a group coaching standpoint because he understands the value of what they provide. Most coaches, again, they charge solely off time. And Samantha understands what she's selling.

I'm going to give you an example. Let's say, for example, Samantha helps this relationship client save their marriage so they don't have to hire an attorney to go through a divorce. They don't have to go back and forth to court. They don't have to break up all of that stuff. They don’t have to do alimony and all this different type of stuff. They don’t have to break up their kids. They don’t have to fight with the person they love. They don't have to go through depression and stress and all this different stuff they go through, and the whole transition and all the baggage that comes with that may be affecting their performance on their job, maybe affecting their health. [03:11.5]

Samantha helped save the relationship. Is that not more valuable than $10,000? Absolutely, because they didn't have to hire an attorney. They didn't have to do this and they didn't have to do this, and they didn't have to do this and they didn't have to do this. So, Samantha is charging solely based on the outcome, and then Regina is pricing solely based on the hour.

So, you may say, Marquel, it doesn't take that much time to do the coaching. That's correct. However, it did take you a certain amount of time to develop the skill set. You probably went through a lot to develop the skill set to get to where you are, so people aren't paying you based on that. They're paying you based on the time that you invested into the skills.

I'm going to give you a story. I had a plumber come to our house and fix something. He came and fixed the garbage disposal on our sink. He came in. He checked it, tapped it a little bit, went out to our garage, turned off the breaker, came in and tested it again. He would turn the breaker back on, came back in, hit it and it came on. Wroo. Five minutes. [04:10.0]

We didn't pay him. He wasn't charging me based on the five minutes. He was charging based on the outcome of what he provided. And I asked him. I'm like, Hey, man, is that the fastest money you ever may ever? And he was like, No, I've been able to go do jobs even faster than that. Because he has developed this skill set over the years, now people pay him based on the skill set and the value of what he provides, not on the time it takes them to do the job, because that's how employees charge.

And Jim Rohn said, entrepreneurs, you don't get paid. We're not necessarily entrepreneurs, but people in general, you don't get paid based on the hour. You get paid based on the value you bring to the hour. So, if somebody's charging, getting paid $10 or $20 an hour, they're getting paid $10 to $20 an hour based on the value they bring to the hour. Somebody getting paid $1,000 or $2,000 an hour or $5,000 an hour, they're getting paid based on the value they’re bringing to the hours. Same hour, right? Different value. [05:03.8]

So, what you want to think about in your coaching and consulting business, what is the value or what is the outcome that you provide for your clients? What's the transformation you provide? People don't buy based on price. Please understand this. Write this down. People don't buy based on price.

People buy based on where they are now in their current reality, where they want to go in their preferred reality, and then how fast can you help them close the transformation gap to get to where they want to be on the other end? If you can help them get there faster, guess what? They'll pay you a premium price because you can help them close the gap faster.

Just like I always use the analogy of that's why a guy would pay $250,000 for a car, because he knows if he pulls up in a $250,000 Ferrari and he goes into the club, and people see him pull up and park VIP for another $50 or whatever, he doesn’t have to say much to get the action that he wants. He’d go in and buy a bottle for $1,000 that's normally $100 in the liquor store. It's because it closes the transformation gap from where he is to where he wants to be.

So, think from that standpoint. When you're making your pricing, when you're positioning your offers, when you're doing your marketing and your whole enrollment process, think about the transformation you're providing, not the hour, and just that tweak alone would allow you to go from undercharging to finally get paid what you deserve to be paid. [06:17.4]

And you will realize that making a $5,000 sale is actually easier, to sell something for 5,000, than it is to sell something for 500 and you’ve got to sell 10 of those 500 packages to make one $5,000 sale. All right?

So, that's what I want you to understand and I don't want you to be one of these coaches that’s always around here, underpaid, overworked, overlooked, and all these different types of stuff. I want you to be serving the people you want to serve, enjoying more profit, having more clients, and making the impact and that you desire and deserve. All right?

That's it for this quick episode. Again, if you want to get more clients because, again, most coaches and consultants undercharge simply because they don't know how to get clients. They’re depending on word of mouth. They're depending on referrals. They're depending on where they're going to get their next lead from. They don't have any predictability or control in their business. But if you understand how to get leads every single day and your calendar is filled every day, you're not worried about where your next client is going to come from, and that puts you in a very powerful position. And when you're in that powerful position, you're way more confident to charge what you desire to charge as well. [07:13.0]

And if you want to be able to do that, I want to give you a free gift. If you go to GetDailyClients.com, I'm going to give you our Paid Ad Playbook for 100% free. It's exactly how coaches and consultants are getting 50 to 100 leads every single day for their business, filling that calendar and converting those leads into high-ticket clients for their coaching and consulting programs. So, you can get it for 100% free by going to GetDailyClients.com, so go ahead and get it. And I’ve got some other bonus trainings for you as well about how to scale your seven-figure coaching business and so forth and so on.

And if you got value from this, feel free to share this around. Leave a comment. Leave us a review on iTunes or your favorite platform. Let us know if you're enjoying the show and what you'd like me to cover and talk more about, and I'm happy to do that because we want to make sure The School of Client Attraction podcast is the number one podcast on the planet for coaches and consultants who want to grow the business faster and with greater ease. And we also want to make this podcast more valued and many of the $997 to $3,000 courses online, it’s what it is, just giving you fluff and B.S. [08:06.1]

All right, so that's it for today’s episode and I'm looking forward to seeing you in the next one. So, I’ll see you soon.

What's the difference between you and mega successful coaches and consultants with a dream business? Simple. They're getting more leads than you are. What if there was a way to get 50 to 100 leads every single day like clockwork? Would you want it? Then go to www.GetDailyClients.com to access our Paid Ad Playbook that has brought in millions of leads for our clients over the years on complete autopilot.

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