When pricing their mastermind, mentorship or group coaching program, many people will try to figure out what the market will bear.
That is a very old model that puts the cart before the horse.
Instead, when pricing your program (or any service you provide), look at the transformation that you offer over that six-month or year-long period.
What transformations have your clients experienced and what was that worth to them?
For example, in many cases our SASSY mastermind members use our strategies and tools to leap from no income to a six-figure businesses quickly.
That’s worth a lot, right?
Not to mention the countless hours each entrepreneur could have spent on trial and error, allowing precious time to roll by while struggling to secure clients and make money.
To help you determine the value of your program, follow my process below:
- Identify one client who’s been a real success story for you. If you have no clients yet, pick someone you’ve helped with your unique gift.
- Write down all of the exact results that client got from working with you. Did she lose 80 pounds with your nutrition program? Double her income? Have better relationships with her children?
- Now, list the transformations that happened for that client as a result of those results. If your client lost 80 pounds, did her marriage improve because she felt better about herself? Did she get a raise at work because her self-confidence and energy were higher?
- Now, imagine what the cost would have been to that client had she not accepted your offer. In most cases this is where the true value of your offer is revealed.
It’s a lot, isn’t it?
Now you know the true value of your program, and you can begin to price it.