So, you’re already charging as much per hour for your services as you feel the market will bear but, by working with clients on an hourly basis, you know you’ll never be able to make the kind of money you need to live the life of your dreams. Instead, your income waxes and wanes, jumping and falling according to the seasons or… the stars? You wish you could figure out a way to work with clients on a longer-term basis, but don’t really know how to create programs.
Far too many entrepreneurs get caught up in the old service paradigm of “dollars for hours”. Doing this will always limit the amount of income you can generate. It also results in cash flow highs and lows, depending on the season and economy. Imagine breaking free from these bonds!
It’s time to turn your services into programs for steady revenue streams, by transitioning out of working dollars for hours and create Programs for Success. Your goal is to create programs that offer a set of services within a predetermined time frame, at a pre-set price. You can offer a 3-month, 6-month, or 12-month program that will address your client’s pain points at various levels, with the longer programs obviously providing a more in-depth approach. Set your prices by beginning with the longest program, figuring the hours required, and then work downward to the shorter lengths.
How to Create Programs for Your Services
How can you figure out what to include – and charge?
- Create a Program – On separate post-it notes or index cards, write down every single thing you have to offer in your Deluxe Program. Examples would be in-person visits, phone calls, emails, perhaps an initial assessment visit, etc. Everything included should be on a separate post-it or card, however. Once you’ve done this, assign a dollar value to that item. Finally, add them all up – and – THAT is your program price!
- Benefits to Clients – By structuring your programs in this way, instead of offering only as “pay-as-you-go” services, you not only eliminate your periods of feast or famine, but you will free up your CLIENTS, too! Until then, they will base their success or failure on what they accomplish between visits, causing them to question their investment in you.
- Benefits to You – By working with them for a pre-set period of time, with CLEARLY outlined short-term and long-term GOALS, the COMMITMENT they make to you enables and empowers them, as they begin to realize that change is a PROCESS that takes place OVERTIME – with an investment in long-term results.
BONUS TIP: One of the greatest features of the internet is that you can reach out to anyone, anywhere in the world, at any time of the day or night. One of the greatest drawbacks is how IMPERSONAL online interactions can be. For the emerging service-based entrepreneur, this is particularly challenging, requiring you to engage on a consistent basis in an effort to build relationships.
Overcoming this can be difficult but, by using a strategic approach to creating your programs, you will go a long way toward making this happen. Start small, and build your program offers from there.
In other words, it’s unlikely that a prospect will be willing to invest in a $2500 coaching program on their first visit to your website. However, if you also offer short-term, low-investment programs, for example, a 7-day or 10-day program at $47 or $97, just imagine how much more willing they will be to make that commitment to working with you on a longer-term basis, with a more significant cash commitment, as well.
Once they get to know you and see how hard you work on their behalf, and experience the benefit of working with you, asking them to go to the next level becomes far easier, just as it becomes easier for them to say, “YES!”