As a coach, consultant or service provider, putting together clear offers and packages is important. But many people get stuck trying to make them perfect. They worry they won’t get the pricing right and they’re scared they will offer too much of their time, or too little, etc. The reality is that packages will change over time. It’s a mindset of evolution.
So, if your packages aren’t carved in stone…
How can you get over your analysis paralysis and get your first draft done and ready to present to potential clients or customers? And how do you know when to adjust?
Get started
The solo-entrepreneurs I work with generally fall in to two categories: 1) the ones that need to have their packages in place before they feel secure enough to approach prospects and 2) the ones that get motivated after the fact, precisely in the moment their first prospect signs up for a get acquainted call. Which fraction do you belong to?
There is no right or wrong and knowing your type might give you an indication why you’re currently dragging your feet. Regardless of your type, here are my tips for getting started.
First and foremost, you’re going to need to get very clear on who you serve, what exactly you are helping them with and which results they can expect to get from working with you. Secondly, you’ll want to put together at least three different packages – one large, one medium and one small package. Why?
If you only have one option of working with you, your prospects will only be able to say “yes” or “no”. That’s a 50/50 chance and I’m sure you want better chances than that. Too many packages, on the other hand, will only lead to confusion. Faced with many flavors of marmalade, shoppers will go for Nutella. Make sense?
Start with the price per package and then decide on the services and results you will offer to exceed the value of their investment. The key here is: just get started!
Review regularly
I review my packages every quarter and recommend you do the same. These are some of the questions that I ask myself during my internal review:
- What feels right about the way I am delivering these packages right now?
- What could be improved in these areas: amount of 1:1 time, frequency of meetings, levels of support or reporting etc.?
- How do I feel about my rates today compared to three months ago?
- Am I more confident about the value I offer and the results I get for my clients?
- Is it time to go up with my rates and if so, by how much?
Once you’ve answered these questions, it should be easy for you to adjust your rates and packages accordingly. You may be inching them up little by little, or making a big leap.
Again, there’s no right or wrong, just what feels good to you in the moment. I like to feel my way into a new number and then stretch myself just a bit (outside my comfort zone).
If you’ve been doing this a while, you’ve hopefully already realized that the amount you charge is directly related to the commitment and dedication your clients bring to the table. The more skin they’ve got in the game, the higher their outcomes will usually be.
It’s a powerful ratio that shouldn’t be underestimated when it comes time for adjustments.
If you haven’t published your prices on your website, you won’t have to worry about prospects comparing prices over time. This is often overlooked by people starting out.
When tuning your packages, don’t forget to decide on a plan for current customers or clients who got on board earlier. Would you like to charge them these new rates for renewals or grandfather them in on the old prices, or something in between?
It’s up to you. Move forward with sensitivity, and be ready to communicate changes as soon as it’s time for your renewal conversation.
Summing up
For a lot of people, creating their clear and attractive offers is not an easy thing to do. Many people put it off for a long time. But it’s a worthwhile and rewarding task, especially if you’re moving from selling your 1:1 time to selling packages and programs.
What do you think? Are you ready to get started or get adjusting? What is your experience with creating offers and packages? Let me know. Use the comments to share your story.
CU online :-)
Your virtual coach,
Shailia Stephens-Würsig
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