We’ve all experienced this scenario: You’re on the phone with a potential client. You’ve had a great conversation about what she’s struggling to achieve.  It’s clear to you both that working with you is the best next step for this person, so you make the offer of your services.  After a pause, she says… “I’d love to, but… I just don’t have the money for your program.”

Is lack of money the real reason that your potential clients has said no to you offer?

Many coaches and solo-entrepreneurs take statements like “I can’t afford it” at face value.  Certainly you don’t want to twist someone’s arm or manipulate them into working with you.  However just keep in mind that the majority of the time when someone says,

“I can’t afford it…”

“I don’t have time…”

“I have to think about it…”

… It’s an excuse…plain and simple.

Here are 3 things That Your Potential Client Isn’t Telling You.

1. Your program or service isn’t right for them.
They really don’t need what you have right now.  Frankly, this HIGHLY unlikely, since you got to the point in the conversation where you discussed your program or service. If they hadn’t needed it, you wouldn’t have offered it. However sometimes during a conversation your potential client can decide to change course…and as a result she no longer needs your particular type of support.

2. They don’t see the value in what you’re offering.
Basically, they’re unclear either about their exact problem or in why they should invest with you. In this instance they probably don’t understand how your program or service will help solve their pressing problem. (They also don’t see the reason why they should invest with you right now.)

3. Some form of fear.
This is usually the unspoken truth! Your client knows she needs to make a dramatic shift to solve her problem, but this reality triggers massive fear.  The part of her that wants to remain in her safe, (stagnant) comfort zone reacts.

And then there are other fears: fear that they can’t get the results, fear about telling  partner/spouse about working with you, fear of being judged (by you or someone else)… the fears go on and on.

So how do you uncover the REAL issue… without being pushy? The answer is to get curious, stay detached, and ask questions.

When your client is facing a life altering opportunity, their fears can sabotage them. They need you to support them in achieving their best, fullest life. When people give into their fears, they miss out getting your help to get what they really want. And you miss out thousands of dollars in income over time…(all because you didn’t want to be rude or inconsiderate).

The Next Time You Hear “I Can’t Afford It,” Try This Script…

“I’m hearing that [money...time, whatever] is a concern for you. May I ask you a question about that?”

People are rarely challenged when they raise financial concerns. You’re going into uncomfortable territory when you don’t easily let them off the hook. Be sure to be respectful so that you don’t lose your potential client’s trust (and the sale).

Now it’s time to find out if it’s really about the money. If it’s about value, return to their problem and emphasize the cost of not getting it solved.  If it’s truly about the money, you can refer them to someone else, or help them find the money.

It’s easy to take “I can’t afford it” personally—meaning that you get flustered and end the conversation. But remember, this conversation is about your client’s decision to transform her life. By not buying into their excuses, you take a strong stand for them and empower them to make an important choice that can substantially improve their health, wealth and happiness.

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Why You Should Stop Charging Clients By The Hour

by Yvonne Bynoe on May 11, 2012

 

It’s a fact that most solo professionals charge by the hour.  It’s also a fact that charging for your time is a terrible idea for most entrepreneurs. It’s a sure path to financial struggle, overwhelm and burn out. Here’s some reasons why.
  
Problem #1:  Charging by the hour reduces your service to an interchangeable commodity. If you have a clogged sink and one plumber charges $100.00 and another charges $75.00 you will most likely hire the lower priced plumber.  People don’t value your time; they’re simply looking for a specific result.   If the only measure of your "value" is your hourly fee, you’ll only attract a slew of bargain hunters or lookey-loos wanting a freebie.
 

Problem #2:   You’ll have to REALLY hustle to earn a decent income.  Let’s say that you’re a consultant or coach who charges $100 an hour for a one-off session. If you want to earn $100,000 a year you’ll need 83 paying customers, every month. Even if you raise your fee to $250 an hour, you’ll still need 33 paid clients each and every month. I know that those numbers don’t seem astronomical. However, each month you’ll need to generate a substantial number of leads to consistently net 83 or even 33 paid clients. 

Problem #3:  You can’t really help someone in an hour.   In an hour you can’t do much more than scratch the surface of your client’s problem.  In my experience, in order to really help someone to reach their goal, it takes more consistent time working together.  At best, in an hour you can talk about a few tactics, but tactics without a solid action plan isn’t going to help your clients accomplish their goals.

The best way to earn more money per client, while providing them with exponentially more value is to offer service packages.   Packages are several sessions bundled together to deliver a specific outcome to your clients.  Packages allow you to help your clients to achieve their desired goal in a systematic way.   With a package, you are selling results, not your time.  Consequently with packages it’s relatively easy go from earning $100 per hour per client to earning more than $1000 per client. 


Here are 3 Tips to Creating Service Packages
:

1.  Be sure that the name of your package clearly states the outcome.
For instance a health and wellness professional may have a package called: 90 days to Kick Your Sugar Habit. A marriage counselor may have a package called: Rekindle Your Marriage in 60 days.
 

2.  Have at least three price options.  Make sure that you cover all bases by having deluxe, premium and basic packages. Your packages should reflect the features that you are providing at the various price levels.
 

3.  Don’t overstuff your packages.
As you uplevel your business, you notice that your clients will have less time to devote to achieving their goals.  People are hiring you to streamline their process, so they don’t want longer sessions or to be overwhelmed with “stuff.” Useful goodies to add to your packages include templates and done-for-you services. 


BTW, if you’d like help learning to price and package you’re services, I can help you.  Click here for the details

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