March 12, 2025
If you run a coaching or consulting business, deciding on pricing can be tricky. Since the main inputs into the process are your time and knowledge, you can theoretically set your prices as high or as low as you’d like.
However, when it comes to professional services like coaching and consulting, pricing means a lot more than just numbers. It reflects your value and can influence the way your clients perceive the service that you offer.
In this article, we’ll explore the right way to approach pricing for your coaching or consulting business, with insights inspired by Robin Waite’s pricing strategy session on the Fearless Business Podcast, along with views from other experts.
We’ll start with a quick list of some important pricing must-do’s!
There are no hard and fast rules to setting your prices, but these tips can help you take a structured approach to finding the right price.
Start by looking at competitor prices, but don’t fall into the trap of trying to copy them. Instead of aligning with the average, aim to become the most expensive option in your niche and back it up with value. Approaching your pricing this way is a great way to position your brand as premium and naturally inspire confidence in potential clients.
If you’ve developed specialised skills or a track record of success, don’t hesitate to reflect that in your pricing. Also, keep in mind that your goal isn’t just to sell your time. What you’re really selling is your ability to help transform your clients.
According to Joe Schaeppi, CEO & Co-Founder at Solsten, “The golden rule is show, don’t tell. Use testimonials, client success stories, and tangible outcomes to show why your price is justified. Where possible, set this out in hard numbers. If you’re working with small businesses, for example, being able to quantify how much profit you’ll help them make is a great way to get them to accept your pricing even if it's higher than your competitors’.”
Goal-focused pricing is a pricing strategy where you set your prices based on your financial goals.
Think about how much income you want to earn over a certain period (usually monthly) and how much work you're able to deliver in that same period. Robin Waite recommends this simple formula to set a baseline price:
Desired Monthly Income ÷ Capacity (coaching or consulting sessions per month) = Baseline Price
Here’s an example: If you want to earn £1,000 and can deliver 40 sessions per month, your base price should be £25/session.
This method helps to remove the need for guesswork or random pricing and ensures that your pricing meets your financial goals.
Tiered pricing helps clients self-select the option that fits their budget and needs. Always lead with a high-ticket “platinum” package. Even if most clients don’t choose it, it can help make your other packages seem more affordable..
For example, a typical pricing model for a coaching or consulting business might look like this:
Just keep it simple and transparent to avoid overloading your clients with too many choices.
Once you’ve priced your services, test them with real prospects. Robin recommends presenting your offer to 100 people and aiming for a conversion rate of around 40%.
If conversion is significantly above 40%, you may be undercharging. And if it’s significantly below 40%, your pricing or positioning may need some adjustment.
Even experienced professionals can slip into these common pitfalls:
Laurence Bonicalzi Bridier, CEO at ArtMajeur by YourArt, says, “First-time coaches and consultants are particularly prone to selling themselves short as they may lack confidence in their ability to deliver value. However, setting your prices noticeably below your competition will only make potential clients question your value, and negative first impressions tend to be incredibly hard to change.”
This strongly echoes some of the thoughts we’ve already shared. While some amount of self-doubt is common when starting out, your pricing should be based on the transformation or outcome you offer, not just your experience level.
As mentioned earlier, basing your pricing on your competitors’ pricing is usually a mistake. Your prices should be rooted in your goals, capacity, and the outcomes you provide to your clients.
Yes, offer tiers, but don’t overwhelm your prospects. Stick to a few clear packages and eliminate hidden fees. If clients need a spreadsheet to understand what they’re buying, your pricing may be working against you.
Pricing is one of the strongest ways to communicate your value as a coach or consultant. Remember that confidence in your value is the foundation for success in these fields.
To take the next step, audit your current pricing strategy. Ask yourself: Does it reflect the true value I deliver? If not, now is the time to confidently charge more. For more tips to help build your coaching or consulting practice, we recommend reading our guide to the fastest way to launch a consulting business.
.avif)