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10 Ways to Make More Money as a Consultant

Money as a consultant

Discover how successful coaches and consultants earn more money using these ten simple techniques. Position yourself perfectly on price, improve your existing client relationships, and make a healthy profit.

You Can Provide Exceptional Client Value and Still Make a Profit

If you’re a consultant or coach and you provide products and services to help your clients:

  1. Become more successful
  2. Understand their goals
  3. Eliminate distractions
  4. Generate extra income
  5. Gain good feelings from their activities

Then you’ll want to create systems and processes that ensure you’re providing maximum value for clients while earning a healthy profit.

Top 10 Pricing Tips to Help You Earn More Money

  1. Don’t charge too little for your services. Clients do not respect coaches or consultants who charge too little for the value they bring.
  2. Differentiate yourself on price. If you position yourself “on price” with the hoards of other suppliers — then you’ll be shopped as a commodity.
  3. Never, ever discount your prices. Always add greater value instead.
  4. Invest in your client relationships. Realise that clients look to you to be the expert and they are looking for a relationship with you.
  5. Don’t make price a sensitive issue. Most people believe that most clients are price sensitive. Fortunately, most clients are not.
  6. Or a major decision-making factor. If price were always the major factor in any buying decision, then there wouldn’t be premium brands! No 5-star hotels, expensive cars or top end restaurants! And of course, there are. Because “price” is only the major factor for transactional customers, NOT for relational clients.
  7. Always test your prices in the real world. Do not rely on other people’s thoughts as to what your value is worth.
  8. Do split testing on prices. Offer two different prices — one to each subsequent visitor to your website or one to each subsequent client you’re talking to. In this way, you let the clients tell you what is the acceptable price.
  9. Avoid low prices. Often low prices can generate a feeling of low value.
  10. Set your prices to attract the clients you want. Work towards gaining and retaining those who are likely to remain as clients for a long time.

How to Make More Money in the Short, Medium, and Long Term

Consider where you want your income to be in, say, five years time. Decide when you’ll begin charging at the rate you need to charge at to achieve that income. Create free reports and booklets as well as a main book and audio/video programme (offline and online) to position yourself in your chosen market. If you would like more advice on creating lead generation tools like a free eBook, download my FREE book “How to Write Your Business Book in 5 Days or Less” for further advice and support.

Although it is tempting to undercharge your clients when starting out, never undervalue yourself. Remember that “price” is only one factor in the buying equation and the potential client’s trust in you, their liking of you and their belief that you can truly help them will more than likely outweigh any pricing issues.

Wishing you every Success.

Peter Thomson

“The UK’s Most Prolific Information Product Creator”

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