Making the transition from employee to coach, consultant or self-employed professional is filled with all kinds of emotions especially when it comes to the money.

Some professionals say, “I wish I didn’t have to deal with the money part.”  I remember feeling that way. Back then, I’d much rather work on the project, coach the client, build my business and NOT deal with the money part.

If you think about that, I was really good at giving but not good at receiving.  That was a big mis-match.  I was willing to work really hard for the client and skimp on my pay. 

At the time, it wasn’t so obvious.  There was this subconscious thing going on…. it was underneath the surface and as you can imagine — it really hurt my business. 

A few quick tips to get this right:

1.  Know your core skills, experience and services.

2.  Know your target market.  Be sure to choose a market that can afford to pay you.  Marketing intelligence is extremely important.

3.  Package your skills in a way that shows your value. 

4.  Set fees that feel good for you.  It’s one thing to know the market but it’s another thing to know your value.  You determine your value (not the market).  Once you determine your value–you then position yourself for the niche/target-market that can afford you.

5.  Don’t worry about being too expensive.  According to research, 10% of the people will think any fee is too high no matter what your fees are. 

6.  Have fun and stretch yourself.  (Up your comfort zone)

A quick testimonial:  This year, I raised my coaching fees from $ 350 to $ 700-$ 1000.  At first, I was nervous but I decided that I would stretch myself (not participate in the recession) and attract clients who are willing to embrace their brilliance and stretch too.  The very next day, I signed on two clients at my new fees and they kept coming after that.  Are you willing to stretch?

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