#259: How To Earn More and Charge Less

how to earn more and charge less - Michelle Leotta

In this episode, Michelle shares why a lower-cost pricing model could be valuable and relevant to your business right now. Learn how to implement this strategy, and the two-pronged mechanism that allows you to remain profitable with lower prices. And register for Michelle’s FREE Create Your Online Course Bootcamp starting 10/1/23 at http://HealthCoachPower.com/bootcamp

This episode is brought to you by Primal Health Coach Institute’s Gut Health Certification Course. Get the first two lessons FREE (and a 25% savings on the program) at HealthCoachPower.com/microbiome.

Mentioned in this episode:
Free: Create Your Online Course 5-Day Bootcamp 10/1-10/5

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How To Earn More & Charge Less

Health coaches tell me all the time that they’re not comfortable charging high prices for their services. You’re looking for another way. I hear you.

In this post, I’ll share the two mechanisms you can use as a health coach to earn more while charging less – plus help you get started for free.

Why pricing matters for health coaches

If you’ve been following me for a while, you’ve heard me say to price yourself high. There are good reasons for that. I still recommend it.

And: everything is expensive these days. The price of grass-fed beef at my local grocery store just went up 50%. Gas is four dollars per gallon. 

So while some people can still afford that high-ticket private coaching…others just can’t. True story.

Sometimes, it makes good business sense to also offer a lower-cost option. You can get more people in the door who you won’t reach otherwise. You can change more lives (and that’s what it’s really about, right?)

And if you do it right, you’ll earn more too.

The secret is scalability

You only have so many hours in the day. If you bring down your prices, you need more clients – that’s the math. But there’s a limit to the number of clients you can take on. So if you bring down your price for private coaching, you’ll make less money.

A lower-cost offer needs to be scalable. Something with no limit to the number of participants. Something like an online course.

Does that sound scary? It doesn’t have to be. Online courses run the gamut. Sure, you could make something super comprehensive, with videos and modules and the whole nine yards. But you could also start super simple, with some PDFs and a live zoom call. They both work, whether you have two people or two thousand.

I’ve created a LOT of online courses over the years, starting from the very early days of my business. So I know you can make a great online course, regardless of your level of experience as a health coach and business owner. 

Don’t be scared! I’ll walk you through the steps during my FREE Create Your Online Course Bootcamp starting 10/1/23. Register now at HealthCoachPower.com/bootcamp.

How to earn more with online courses

There are two ways you can earn more with online courses, even though each person is paying less. 

The first is by serving more clients. There’s no cap on the number of people who can take an online course, so you can serve more total people than you do with private coaching. More clients equals more money. It’s that simple. 

The other way this strategy works is by generating repeat clients (more on that in Episode 254). Courses like a jumpstart or 5-day detox aren’t just one-and-done. People can do them over and over. They can bring their friends. 

Repeat clients are a great source of income. People who are already your clients are the most likely to buy from you. Offer them more things to buy, and they will! Plus, this saves you marketing time: you don’t have to go find these clients because they’re already on your mailing list, and they’ve already shown you they’re ready to buy.

So think about that when you’re designing your course: how can you make it repeatable? You make it once, and your clients join again and again. That’s just smart.

Let’s build that online course!

With one-on-one and small group coaching, you’ll eventually hit a ceiling. Creating scalable offerings like online courses will help you grow, even without charging big-ticket prices. And it’s easier than you think.

Our free 5-day Create Your Online Course Bootcamp (10/123-10/5/23) is a great way to start earning more, right now. Register for free, right here

Full transcript:

All right. Hello there, Health coaches. You know what? When I was in school to become a health coach, they gave us a couple of workshops to use. They gave us a sugar workshop. They gave us another one that was about emotional eating. And I think, let's see, I think that was a second one. And then I know there was another one called Eat More, way Less. Does anybody else remember the Eat More Weigh Less workshop that I used to give out? Or do they still give it out? I have no idea. Way too many years have passed, but I was thinking about that and it was the inspiration for today's episode about earning more while charging less. I think you're going to love this idea. We're going to get into it in just a moment. Hello to Cheryl, who is complimenting my necklace. Some people say this necklace looks like I'm wearing slices of mozzarella around my neck, but I wear it anyway.

I like it. It has gravity to it. Speaking of detailed resources, right, I was just telling you about the workshops that I n gave me when I was in health coaching school a hundred thousand years ago. I love when our various coaching schools provide detailed resources, don't you? Now, one of the health coaching schools that I have a great relationship with is Primal Health Coach Institute. Any primal folks out there? I know many of our listeners are graduates of primal level one and level two. We'll check this out. Primal has a new gut health certification course that's open to all health coaches regardless of where you went to school. And this is a very popular, very important topic. I hear you guys talking about gut health and wanting to learn about gut health all the time inside our Facebook group. This course was developed in partnership with Dr. William Davis, who is the author of Wheat Belly. If you've read that book, I know I have. And best of all, the first section of the course is available to you for free, just for being here, just for being part of my community. So you can go get that at healthcoachpower.com/microbiome. I'm going to drop that link over here in my Facebook chat. Again, it's healthcoachpower.com/microbiome because that's what we want to learn about. And I suggest everybody grabs this free resource because you know you're likely going to learn something that you did not already know about the gut. And if you decide you want to go to the distance, you'll be eligible for 25% off the whole certification program, which I'll tell you about. Real briefly, this certification covers anatomy and physiology from a microbiome perspective, food intolerances and what they tell us about the microbiome, the microbiome disruptions associated with specific disease states useful, and how do identify and manage microbial overgrowth and a whole lot more. I got a sneak peek of the course. I thought it was fantastic. .

I want you to get a sneak peek too. So go ahead and grab it now at healthcoachpower.com/microbiome. I'll wait. I mean, this is a podcast. We're recording this to podcast, so I assume everybody can just hit pause when they're listening and then come back when you're ready. So one more time. That URL is health coach power.com/microbiome. Okay, good. We got it. Time to talk about today's topic, which is charging less in order to earn more as a health coach. Does this sound good to anybody? Just tell me in the chat if you're like, yes, please. Yes, please. I always hear health coaches saying that they're not so keen on charging the high prices, not so comfortable asking for a lot of money. So I feel like this is going to sit very nicely with many of you. So first I want to share why this pricing model is valuable and relevant perhaps more than ever in 2023. .

Then I'll explain what it's all about and we'll talk about the two mechanisms that allow you as a health coach to actually earn more while charging less. It's two pronged, and that's only something that I learned down the line. I just learned it along the way, but I want you to know right from the get go so you can maximize it. Okay, so about pricing, you're going to often, if you listen to this show regularly, you'll often hear me say to price yourself high. And there are a lot of good reasons for health coaches to price high, and this is like a yes and situation. Yes. And you know what else is true? I noticed this week when I was grocery shopping that grass fed beef went up. The price went up by over 50% like in one week, and the price of gas in my area, I don't know about where you guys are, but it's hovering just under $4 a gallon. .

And I'm noticing that prices that went up across the board due to covid, like the cost of lumber, anybody replacing a roof or doing any renovations on your house, you will know this. The cost of lumber shot up because at the time there was trouble with transportation, et cetera. Well, guess what? These prices and so many more, they haven't come down, have they? And while there are still plenty of clients out there who can I want to emphasize this, who can easily afford your high ticket private coaching? Yes. And sometimes it makes good business sense to also offer lower cost alternatives. Do we like this so far? Sound comfortable? Just give me a shout out in the chat if this is sounding like something that is going on in your life too. You've noticed the prices. You notice that yes, some people can afford private coaching, but other people just literally cannot with the cost of eggs. .

You know what I mean? So with this strategy, you can get people in the door who otherwise you might not reach, right? You can impact more lives overall and if done right, and I do want to underscore if done right, you can actually increase your earnings in your business. Now, as a sidebar, another reason I mentioned this a second ago, another reason the strategy is attractive. I know because so many health coaches, especially if you're newer, you're hesitant. It can be hard to ask for a thousand dollars, $2,000, $5,000, right? That's something to work on. You're going to get there. But in the meantime, what if you could ask for $50, $100, $500? So I want you to think of this as training wheels for your money mindset. If that's where you're at right now, and Hannan, I see that you're here with me live. .

Hello, nice to see you. Whether you're a newer coach like Hannan or you have tons of experience with private clients, how do we do it? How do we earn more while charging less? This is no big secret. Obviously you need a scalable offer, something that you're offering that has virtually no limit to the number of participants. Unlike private clients, you can only do one of those at a time. And even if you saw clients back to back, to back to back, there's a limit to how many private clients you can work with in a day, in a week, in a month. So that's not going to work. You can't bring down the price on private coaching because it's not scalable. Small group coaching maybe, but small groups tend to max out at around five participants, 10 participants. I mean, how many people can you have before? .

It's not really small group coaching anymore. So the next step, the next scalable option beyond group coaching is to offer an online course. And please don't run away screaming. Let me explain an online course. Now, it could maybe could be super comprehensive, like a video-based curriculum, lots and lots of lessons and modules. It could be like that. And maybe that's what pops into your head when you think online course. And I tell you this because I have run so many different online courses in my career and online course could just mean a simple five day jumpstart with nothing more than a PDF with instructions and maybe a live Zoom call with all of your participants. You see how that's scalable? Because you can send that PDF to two people, 20 people, 2000 people, it doesn't matter. Same amount of work, and you can hold a live Zoom call again for two people, 20 people, whatever. .

So my point is there's a huge range of what an online course can look like, got that real important so we don't get scared and run away before we even get started. And I promise you, there is something appropriate for you regardless of how much experience you have as a health coach or as a business owner. Now, again, you will always hear me say that I recommend you start with one-on-one coaching, and I do. And again, it's like a yes and situation, yes. And if you wanted to run an online course even in your very first year of business, you absolutely could. Now, I'm going to be walking you through the first steps of creating your online course, whatever it ends up being in just a couple of weeks. So if you don't have a clue where to start or how to go about putting together an online course, I want you to join us for our free five day bootcamp. .

It's at healthcoachpower.com/bootcamp. We did this last year. It was extremely popular, so I'm bringing it back. And this way you'll be able to diversify your offerings and move towards a business model where it is entirely possible for you to charge less and earn more at the same time. I know, like I said, I have created more online courses, then I can even remember sometimes I sit down and I try to make a list and just dig through my memory. Let me tell you my records, my files, I have moved many times I've gotten divorced. I mean, I just don't even have a record of so many things I did 10 years, 12 years, 14 years ago. So I dig through my memory and sometimes I'm like, I know I'm forgetting something. But since the earliest days of my health coaching career, I was running online courses. .

So one more time, the URL to that bootcamp, so you can create your own online course with me is healthcoachpower.com/bootcamp. And we are going to get started on October 1st. So go ahead and get yourself registered now before you forget. Now, there are actually two ways that online courses allow you to earn more, even though that person is paying less. The first is the more obvious one, right? This is what we've already talked about. If there's no limit to how many people you can enroll in your online course, there's no cap, then you can serve more clients. So that's one way of course to earn more money is to serve more people. And that's the whole idea. If you're working with five or 10 private clients now, great, you would be hoping to serve more than five or 10 in an online course. This is where you can multiply the number of people that you're reaching, you're working with. At the same time, yes, they're paying you less, but overall it can add up to much more. So we can work with more people, we can impact more lives. There's no limit. There's no cap to how many people we can help, which is an awesome thing. That's why we got into this work, right? We don't want to help one person, two people. .

We want to change the world. So this is a good way to do it. The second way that this strategy works is that if you create an online course that is worth repeating, like for example, something like a five day jumpstart or when I was in the early days of my health coaching career, I would offer a detox a couple times a year and people would sign up once and they would sign up again and they would sign up again and they would sign up again and they'd bring their friends and the friends would do it again with them. And it just became this sort of repetition. And they loved it. They loved knowing that they were going to be able to do this in the spring and then come back in the fall and do it again. So you have these repeat clients. We talked about this a few episodes ago when I was talking about recurring income. .

You can create one main course and if it's again, the type of thing that makes sense for people to repeat or thinking about, then you actually create someone who's paying you once and they're paying you twice and they're paying you 3, 4, 5, 6 times month in, month out, year in, year out. Now, the other way that online courses create more repeat clients, and this is really important in business in general because the people who are most likely to buy from you, this has got to be true across all industries, but I can tell you very specifically from my experience as a coach, the people who are most likely to buy something from you are the people who already have. If you always go to the same pharmacy, the next time you get whatever you have to go buy band-aids or something, you're probably going to go to that same pharmacy. .

And we tend to find someone or something that we like and give them our business. So once you have someone who buys from you that are more likely to buy other things, so give them more things to buy from you and you will make more money. And this leads me to the idea of not just having courses that repeat, but having over time, it will take some time, multiple courses that you offer. So maybe you buy course A that I create this year and you have a great experience, and then next year I create course B and you sign up for that too, and you tell all your friends, you had such a good time in course A and so on and so forth. At a certain point in your career, you could have a suite of offerings. And so again, you get those repeat purchases from your most loyal clients. .

And in those two ways, reaching more people and allowing them to take you up on your offers again and again and again, you can actually earn far more than if you were only reaching one person at a time. And yes, sometimes our one-on-one clients will re-up and work with us again. I see this vary tremendously from some coaches say that a lot of their clients do, which is interesting. In my experience as a health coach with the population that I was working with, I always felt like they got what they needed. They reached their goals, they were happy, and they were done when we were done. And very rarely did I work with someone beyond that three month mark or six month mark or whatever it was. But I think it's safe to say that people are more likely to buy multiple courses, repeat that same course with you than they are to hire you as a private coach again and again and again and again. .

That's more rare. So in this way over time, you really can grow your income in a way that isn't quite possible if you just stick with the one-on-one or the small groups. So I want to invite you again to join us for our Create Your Online Course five Day Bootcamp, which is starting October 1st. The URL to join completely free is at healthcoachpower.com/bootcamp. I have so much in store for you, but don't worry, it can get overwhelming if you think about all the things. So even though I have so much in store for you, I have it designed in such a way that we're just going to look at one bit each day of the bootcamp so you don't start getting overwhelmed runaway screaming. I know it can feel like a lot. I have a system. I'm going to share it all with you at the beginning of October. So I'm going to say it one more time. Please head on over to healthcoachpower.com/bootcamp. And thank you so much for joining me today. I'll be back with you next week. Have a great one everyone. Bye-bye.