Coaching & Training Articles
Get started with my SMART system to confidently increase your fees today:
- S – Signature System Creation. What would you want to be known for? What is the ultimate outcome clients experience? Describe exactly what results each participant can expect to experience from your program/services/product. Be specific.
- M – Money Speedometer Calculation. Just like a car has an automatic cruise control, we too, have our own internal setting that determines how much money we are comfortable making. If we start moving too fast (when we earn more), we often become uncomfortable and will automatically do something to slow down. If we move too slowly (by earning less), something usually kicks us into a higher gear so we start to earn more. One of my mentors call this money speedometer. We always have a money speedometer. The trick is to reset your speedometer so you’re comfortable earning a high amount.
- A – Awareness of Misconceptions. There are 5 fee mistakes you maybe making in your business right now.
- Mistake #1. Do you keep comparing your fees to everyone else’s, then settling for a number that doesn’t look too high?
- Mistake #2. Do you worry that the current “economic climate” won’t support higher fees?
- Mistake #3. Do you believe that taking less is better than not getting a new client at all?
- Mistake #4. Do you keep telling yourself you need to wait until you get more experience or more clients first (even though your clients rave about you!)
- Mistake #5. Do you discount your fees when you really like someone and want to help them?
- R – Recognize your Niche. Your niche is a combination of 1) people you serve; 2) the situationally – specific problem you help them solve; 3) your special branded signature system. In my niche breakthrough secrets, I lead my clients to discover what business you are really in, choosing a lucrative category of highest potential to work with, identify specific tribes of potential ideal clients within your category and brainstorming out of the box, we test if the idea is hot or not, making the final choice, create a signature system and big idea. You can check it out at www.moneybreakthroughmethod.ca/niche
- T – Take Charge by Setting Boundaries. There are 3 simple steps to set boundaries with the people you love:
- Step 1: Decide what your boundary is = alignment
- Step 2: Know why your boundary is important to you = higher self or values
- Step 3: Commit to stand firm of what is true for you, no matter what = courage
There you have it, the SMART system on how to charge what you’re worth and get it. Now, I will dive into the details of each step.
S – Signature System Creation
First: What are the outcomes of your signature system?
What is the ultimate outcome clients experience? Be specific.
Next, describe exactly what results each participant can expect to experience from your program. Here is an example:
Program for money breakthrough: “How To Breakthrough To Your Next Income Level In Your Career Or Business”
Participants will learn:
The Money Breakthrough Method
The Method is a series of seven simple questions I will walk you through that will quickly and magically transform any money issue, drama or situation into clarity, forgiveness and empowerment. This powerful model is elegant, authentic and you’re not going to believe how much freedom and confidence you experience as a result of my coaching you through it.
Your Money Breakthrough Type
Did you know there are five Money Types? Each Money Type is beautifully illustrated, gorgeously printed and clearly explained on an 8.5 x 11 full-color card. Your Money Type card demystifies what your personal money motivation is so you can stop caving in t o money drama or disempowerment and instead, give yourself permission to quickly break through to your next level of income, no matter where you’re starting from. Each Money Type card is loaded with tips, helping you instantly recognize which one applies to you and most importantly, what to do with that knowledge.
5-Step Money Breakthrough Modules
Everyone has money issues, drama, fears, stories, beliefs and habits they either “inherited” from family or unconsciously adopted due to earlier experiences. What’s key is to realize that you’re not stuck with these forever!
In these powerful modules I’ll coach you each step of the way to create new, empowering money habits that magically transform your relationship with money, increase your self-worth, improve your relationships with loved ones, start a new business or grow an existing business, earn more in your career…and more!
The five core Money Breakthrough Method modules are:
• Module #1: Healing Your Family’s Money Legacy
• Module #2: Forgiving Debt and Other Guilty Money Issues From Your Past
• Module #3: Creating Accountability and Action
• Module #4: Claim Your Money Power
• Module #5: Revealing Your Sacred Relationship with Money
Next: What are the steps of your signature system?
Great programs have a certain number of steps, elements, keys, strategies or techniques. The key is to make the number small. Remember that people love odd numbers, so using 3 Critical Elements, 5 Simple steps, or 7 Key strategies works very well.
How do you know how many steps to include in your program?
Start at one end of an open area where you can walk forward unhampered. Have paper and pen within reach.
Look out in front of you, across the room, and “see” the bigger outcome participants gain by being in your program. Make sure you can really see, sense, feel, and hear it.
With that outcome in mind, ask yourself, “What is the FIRST thing someone must do (or become aware of) to achieve that outcome?” and take one step forward. What answer came to mind? Make a quick note of it.
Now ask yourself, “What is the next thing they need to do (or awareness they need to have?)” and once again, step forward into the next step. Make a note for each step.
Keep asking the question and stepping forward until you have “reached” the final outcome.
M–Money Speedometer Calculation from Kendall Summerhawk
Just like a car has an automatic cruise control, we too, have our own internal setting that determines how much money we are comfortable making. If we start moving too fast (when we earn more), we often become uncomfortable and will automatically do something to slow down. If we move too slowly (by earning less), something usually kicks us into a higher gear so we start to earn more. We always have a money speedometer. The trick is to reset your speedometer so you’re comfortable earning a high amount.
The first step is to understand where your money speedometer has been set. Here’s how to do that:
What’s your money speedometer set to?
For the past 12 months, calculate the average amount of either your five highest client payments or your five most profitable months. Note: If most of your income comes from one source, then choose your five highest client payments. If you have multiple streams of income then choose your five most profitable months. Either method works equally well.
- Calculate your current money speedometer setting:
My highest average for the past 12 months is ______________________________
Now, by how much do you want to increase that amount? Set your pricing goal just outside your comfort level. Why?
- If you stay within your comfort level, you won’t be charging enough.
- If you go too far outside your comfort level, it’s not going to be believable to you.
Your new pricing goal should feel realistic, believable and a little thrilling.
- Decide on your new pricing goal and post it where you can see it everyday.
What’s your new pricing goal?
My new pricing goal is $__________ by _______________(date)
There you have it! Sign up for my Lead Well, Live Well 3-part series below to keep going and dive deeper…
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