What should psychotherapists charge for coaching services?
You’ve decided to have faith in your business. You’ve studied the differences between coaching and psychotherapy. You’ve narrowed down your niche. You’ve made headway in your market research, and….. Finally! You’ve created a compelling coaching package sure to sell.
Now, you need to decide what you’ll charge for all that hard work. Pricing your coaching packages can be a challenge, though.
How do you know what your work is worth?
Well, if you’ve truly provided your clients with a solution to their biggest problems, the figure might be bigger than you think! How does $5,000-$10,000 a month working part-time sound? Too good to be true? Only if you’re still holding on to limiting money beliefs in your business.
When pricing your coaching package, the most important factor is that you feel at ease and confident with the price you select… but that doesn’t mean you should undersell yourself!
Your clients are seeking to pay for a solution to their biggest problem. They’re ready to take a transformational journey to change their lives and they want an expert guide (YOU!) beside them along the way. They are willing to invest in this experience. In fact, they expect to. As a result, many clients are willing to pay more than what brand new aspiring coaches-to-be like yourself are charging.
So, what’s holding you back?! Let’s take a look at common limiting money beliefs that I see my clients struggle with in their businesses and some simple mindset shifts that can help you overcome them:
Limiting Money Beliefs Your Coaching Business Will Be Better Off Without
Do you feel like you’re ‘brand new’ or ‘starting over from the bottom’? If so, impostor syndrome may be a limiting money belief that you struggle with. After all, who would want to pay premium prices to a rookie coach! I probably wouldn’t.
The good news is… you’re not a rookie. You’re not starting over, and you are not brand new. This is one limiting money belief that NO psychotherapist should be struggling with! You worked hard for your psychotherapy degree. What’s more, in the training that you’ve already completed for your current career… you have gained nearly everything you need for your new one! You haven’t even begun yet and you already know more about human thought processes and behavior, the process of change, active listening, and communication skills than most certified coaches do.
It’s time that you know your worth. Your varied skills and extensive work experience have made you an expert, & you deserve to be paid like one!
The Savior Complex
The savior complex is something that many of us in the mental health field suffer from to some degree. We feel that it is ‘up to us’ to heal the broken, and the broken can’t (typically) afford the premium prices that the most successful coaches are charging for their services. So, we feel guilty!
We tend to fear that if we charge too much, then we won’t be able to help everyone who needs us… that we are being unfair. In reality, the statistics are not on our side. We are each only one person and can’t help everyone on our own, anyway. Instead, it is better to focus on helping those we can serve the best we can.
Charging enough for your coaching packages to cut your client list even just in half can double the time you can spend serving each client, and thus provide an opportunity to really focus on each person’s individual needs. Plus, offering a range of coaching packages at varying price points can make your services more accessible- even for potential clients who struggle with a shortage of money or time!
I’ve spoken to literally hundreds of therapists in the course of my career, and I’ve discovered that there seems to be a sort of unspoken rule about what it is ‘okay’ to charge clients for your time. Some of us consciously think to ourselves, “Who does she think she is?” when we see someone charging above the ‘normal’ amount of $30-50 per hour on insurance panels or $100-200 an hour otherwise. Others simply follow along with this status quo unconsciously, never aspiring to be paid more for their time despite the years of training we’ve put in.
We also see our idols charging the high ends of these rates- typically after years and years of experience in the field- and find it literally unbelievable that we could ever make so much more money for such little effort. How audacious! How unrealistic!
If you’re in this camp. You’re not wrong. You’re just not looking at the whole picture. You’ve already put in the effort! Now, you just need to apply it differently…
That’s where my elite coaching programs come in!
I can help you leverage the experience you already have to impact your clients in a whole new way. Join other aspiring coaches and learn how to build a business that won’t just change your clients’ lives, but that will also change your own!
Check out my popular online course “Package Your Expertise” & build your coaching packages in little as 4 weeks.
After all, according to the fabulous French-American writer Anais Nin, “Life shrinks or expands in proportion to one’s courage.”
Isn’t it time for you to expand your horizons, your reach, and your potential beyond your private practice, nonprofit, or community organization? Don’t you want to quit your day job? Quit the struggle? Quit the stress?