Price Strategically to Avoid Limiting Growth

Charging a fixed hourly rate can severely limit potential income when aiming for higher revenue goals. For instance, setting a public rate of $330 for a one-hour consultation confines monthly earnings from coaching to about $1,300 if clients engage weekly. This necessitates managing 15 clients to reach a target of $20,000 per month, which is impractical for most coaches. Establishing lower-tier pricing can create a detrimental anchor effect that restricts the ability to offer higher-value services. Therefore, it's essential to think strategically about pricing structures and the long-term implications on business growth, potentially redefining service offerings to allow for increased monthly revenues.