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Business coach Robin Waite helps coaches, consultants, freelancers and small business owners build businesses that make double the income with half the clients. Each week you get one of two kinds of episode. In solo episodes, Robin shares the frameworks, mistakes and lessons from over 20 years in business. On The Business Bench, he sits down with a real business owner and coaches them live through their biggest challenge, from pricing and finding clients to cash flow and confidence. Everything comes back to three pillars: 1. Your offer. Build a product you love delivering, that gets real results. 2. Your pricing. Charge two to three times what you do now, without the guilt. 3. Your lead flow. Attract the right clients and turn them into paying ones. Robin is the international bestselling author of Take Your Shot, Fearless Pricing and The Fearless Business Blueprint. Through the Fearless Business Accelerator he has coached hundreds of business owners. Grab a free signed copy of Take Your Shot: https://www.fearless.biz/tys Book a free coaching session with Robin: https://www.robinwaite.com/app More at https://www.robinwaite.com and https://fearless.biz
Episodes
Mar 11, 2022
Mar 11, 2022
20 min
In this episode Robin looks at the advantages and disadvantages of competitive pricing, and why a blended pricing strategy works better for your coaching business. In short: why you should not base your prices on your competitors, and what to do instead.
In every industry you can add up the total turnover and work out what share of the value each group of peers contributes. To make the numbers easy, imagine £100 of value created by 100 coaches: £60 of it is generated by just 10 of them.
What you will learn:
- The sales cycle of doom
- Why competitive pricing is really a discount we are just not calling a discount
- How copying competitors means copying a terrible business model, often one based on hourly rates
- How the competitive intelligence you gather can still help you make better long term decisions
- Why you should test several price points to maximise profit without losing your competitive strength
- Why competing on price alone only works for a while, and why quality and adding value matter more
- How to combine several pricing strategies in line with your business objectives, so you never risk selling at a loss
Resources and links
- Book a free coaching session with Robin: https://www.robinwaite.com/app
- Free signed copy of Take Your Shot: https://www.fearless.biz/tys
- Free copy of Fearless Pricing: https://www.fearless.biz/fp
- Take the Fearless Business Quiz: https://www.robinwaite.com/quiz
- Robin's YouTube channel: https://www.youtube.com/RobinMWaite
- Work with Robin: https://www.robinwaite.com
About Robin Waite
Robin Waite is a business coach, professional speaker, and international bestselling author. Through the Fearless Business Accelerator he has helped coaches, consultants, and freelancers productise their services, fix their pricing, and build businesses that deliver double the income with half the clients.
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