The Nourished CEO Podcast How To Set Your Hourly Rate As A Nutritionist
Nutritionists get into this line of work to help people, not for a love of money. But money is still an important part of your business. If you’re a nutritionist with your own business or want to be, I’m sharing some of what I’ve learned about the topic of nutrition and setting your prices.
About Price Setting
Many of us get stuck on the idea that you should charge what you’re worth. This is ultimately a trap. “Charging what you’re worth” is a meaningless statement. This line of thinking will cause you to either undercharge your clients or work yourself into the ground. You’re a healthcare provider. You can’t set up a pricing structure that forces you to sacrifice your own wellbeing in the name of your business.
Creating the Right Offers
An essential part of your price structure relies on your offers. I’ve identified eight elements to creating an irresistible offer for any potential client. These are person, problem, potential, package, price, perks, pressure, and promise. Understanding the prices that you need to be charging to effectively run your business is a key part of how you build out everything else.
Crunching Numbers to Determine Your Rates
There’s a lot to consider when setting your prices. Your annual earning goal, what your services are worth to your ideal client, and the cost of alternatives are all important factors. Perhaps most importantly, you should be thinking more about what you want to earn than what a client might be willing to pay.
As a business owner, you have the privilege of choosing your own hourly rate. By following along with this worksheet, you can determine what you need to charge to achieve your revenue goals. Once you take all your regular expenses into account, you can add those to your personal expenses. Add these to your financial desires, factor in income tax and how much you actually want to work, and you’ll have a pretty good idea of what you need to earn.
How do you determine the worth of what you offer your clients? Let me know in the comments on the episode page!
Got a question you’d love to hear me answer on the show? Leave me a voice message here!
In This Episode
- The myth of charging according to your worth [3:00]
- The eight Ps of an irresistible offer [8:50]
- The most important considerations behind how you set your prices [10:12]
- How to set your own hourly rate [15:18]
- The difference between working in your business and working on your business [31:20]
- Steps for bringing in the clients that will pay the price you set [40:00]
Quotes
“Being healthy is incredibly valuable to your business and your clients. Practicing what you preach as a healthcare provider is incredibly important to be working in integrity in your business.” [4:26]
“Feeling great and taking care of your needs allows you to take care of your clients better.” [20:14]
“Starting and growing a business is way more than just figuring out what your prices are.” [41:11]
Key Takeaways
When you charge what your services are worth, rather than what you feel you’re worth, both you and your clients will benefit. In the end, you’ll serve your clients best if you’re making the right amount of money.
As a nutritionist, you have the power to completely change someone’s life for the better. There is a huge value in that. Don’t undersell what you do. If charging a lot doesn’t feel right, just remember the value that your clients will get in the end.
The most important part of the equation isn’t the price itself. It’s creating a business that serves your clients on such a level that the prices you set become easy to ask for.
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Links
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