One of the challenges I see so many coaches and solopreneurs struggle with is what they should charge for their services. Most do not know what they should charge. Many charge what they think they can get. Some charge whatever the next coach or practitioner charges. That is–”the going rate”. Many charge what they would be willing to pay themselves. Most charge less than they are worth–while improving the lives of others dramatically.

But why? And what are the solutions to this travesty of value?

We have already covered errors in philosophical grounding, lack of skill, and a failure of implementing a sustainable structure for your business–and for the scope of your clients’ needs.

What is next?

More nuts and bolts rather than philosophical grounding or mindset:

Mistake: Having only 1 stream of prospects

Most coaches and solo-preneurs rely on word of mouth. Word of mouth is critical. In the 21st Century marketplace there are hyper-empowered and talkative people. This is good for you. However, it is not enough. Make a decision now to take control–to be the locus of responsibility–for the success of your business. While word of mouth is critical, it is only one of at least three prospect streams the successful solo-preneur must establish for themselves. What are those three?

It is amazing how many coaches, solopreneurs, massage therapists, lawyers, etc. are competent at what they do–yet suffer financially. They are doing good, but they are not doing well–that is, they are struggling financially, mentally, and emotionally.

There are reasons for this. I have identified the top 6 reasons–and their solutions-that I have found in my experience in my own business as well as observing those who still have a “practice”.

The first 3 are presented to you below. The next three will be in Part 2 in a couple of weeks.