When I started working with women entrepreneurs, I was excited to support them to ditch the limiting beliefs in the way of them creating more ideal clients, more sales, higher profits, and greater impact.
But I made several massive mistakes that most coaches make when creating premium coaching packages and programs that sell. I’ll talk about 3 of those in this post.
There are many more, but these are the top 3 that I come across in my business and money mindset coaching work with women entrepreneurs and coaches.
Mistake No. 1: Not Asking and Answering the Basic Question ‘What Does My Ideal Client Really Want or Need?’
You’re probably thinking, well duh, of course everyone asks that question. But do you?
Have you really done the market research to identify what your ideal client wants or needs?
Have you really done the legwork to determine what her biggest problem is? No, not the one you think she wants solved or the one you believe is the most important one for to solve.
First, identify the one thing she genuinely wants right now, second, confirm the BIGGEST struggle, obstacle or challenge that is in the way of or stopping her from creating/being what/who she wants to create/be in her life, business, health or relationships, and third (very important), know why she wants it (this is a game changer).
In my case, when creating my business coaching and money mindset packages, I was just so excited to co-create amazing premium packages and pricing that I didn’t even focus on the particular problem my ideal client wanted to solve. I didn’t invest the resources or time to identify her middle of the night problem.
You know, the one problem or struggle that keeps her up at night crying and googling resources that promise to solve it.
And honestly, looking back, it was right in front of me, but like many coaches, it’s the one step we all gloss over in the excitement to just start coaching; to start making money and impact.
I didn’t realize that what I was including in my marketing and packages wasn’t really what my prospective clients thought they wanted or even needed.
Why is this first question even necessary?
Because it affects everything about the premium coaching packages or irresistible high-offer you’re creating. From marketing to sales, and positioning to asking for the money.
Back then, I didn’t understand that my ideal premium client doesn’t wake up in the middle of the night thinking, darn, I need a premium packaging and pricing coach right now. If only I had a premium packing and pricing coach, I’ll able to grow my business and create the profits and impact I want.
The simplest way to avoid this issue to just ask. After you’ve identified who your ideal clients in your profitable niche, go ahead and do the market research and ask them what they’re struggling with the most.
Here are a few points to consider when asking your questions (in a survey, a Facebook poll, in an email to your list, phone calls, face to face, whichever way you find works best for you and your business), prior to putting together your premium package.
What do you want to create?
What’s the biggest struggle holding you back, in the way or stopping you altogether?
What are you complaining about the most? The one thing that if you poke with a fork right now and make it disappear, would make you breath and sleep easier tonight?
What are you frustrated about? The things that’s frustrating so much that you’ll throw money at it right now to make it go away.
How bad is the pain? How hard is it hitting your business bottom line, your health, your relationship or your marriage (all depending upon what you coach)?
When creating packages or offers, consider that there is a difference between the woman who desperately wants to lose 40 lbs so that she can have a baby and the one who thinks that losing 5 lbs would make her jeans fit better.
One is a real pain point and the other is just an inconvenience.
People don’t invest in premium coaching packages that help them with the inconvenience because it’s not unbearable. There is no pain.
But as coaches, we tend to swim in our limiting beliefs because it’s more comfortable to address the inconvenience because we don’t have to lean into our hearts and go deeper.
It’s a surface-level kinda sale. And if we have limiting beliefs that selling is yucky, then the inconvenience is much easier to talk to.
And finally, what words are your clients using to describe this pain; this unbearable thing they want gone yesterday.
I learned that the women in business that I coach basically were afraid to raise their price and subsequently ask for the money.
And here I was, talking to them about ditching their limiting beliefs or 10xing their money mindset or packages that sell or premium prices, when all they wanted was to be able to confidently raise their prices and talk about the money part without feeling bad or guilty.
The gift was to find out first what they wanted and then include the mindset to deal with the struggles and challenges in the way. Not the other way around.
Basically, put the client first.
My mistake was that I wasn’t thinking of my ideal clients or what they cared about or needed.
Like many other women entrepreneurs and coaches I work with, I was caught up in the problems I solve—creating premium packages, pricing, busting limiting beliefs, and I forgot that my package needed to show exactly what these women entrepreneurs and coaches needed and actually wanted.
They need to know immediately that they want or need it.
And that brings us to the second Money Mindset mistake that stops coaches from selling the packages they create.
Mistake No. 2: Not Asking Whether the Package or Offer is Positioned to Solve Your Ideal Client’s Most Powerful Problem (as she sees it).
Yes, your ideal clients need to see or hear about the package and immediately know that you’re (the package) is the one that will solve their biggest problem and give them the greatest sense of relief and wellbeing.
It needs to be positioned in a way that makes them easily find you and immediately be willing to pay anything to have it.
Meet your ideal client wherever they are before supporting them to get where you know your package will get them.
This where naming your package plays a huge part. Many of my clients (and I’ve done this) are in love with time.
So, you’ll see a lot of 90-Day transformation packages. What the heck does that even mean? (I’ve had my fair of these when I was a Life Coach for Women).
Or 12-month X and Y package?
Yes, time has a place. Especially if you’re creating a premium health and wellness coaching back like 90-Days to Lose the Belly Bloat and Say Bye to Sugar for Good.
Well, yeah, if I’m dealing with bloating and my sugar craving is making me gain unwanted weight, yes, I’ll be all over it. It’s the solution that I want and your package will take me there.
Will you choose this over the 90-Day transformation package? Probably! Why? Because you clearly understand what it is and how it will help you get what you want.
Here’s the real deal. Again, we love to focus on ourselves and put the spotlight on our work…. The transformation. But our ideal premium clients don’t give a damn about us or our transformation speak, they want to know how that package will do what they want. So. S.P.E.L.L it out.
It’s important to get clear about where our ideal clients are in their journey. Always. This helps us during the sales conversation too, as we create the journey illustrating the path our package will create.
And finally, let’s talk about that 3rd mistake, and honestly, I think this is a pretty huge one because it basically defeats the purpose of creating premium packages that sell in the first place.
Mistake No. 3: Applying the Kitchen Sink Approach
What do I mean by this?
Stay with me for a moment.
The whole point of creating a premium coaching package is to help your ideal clients know that you’re the one who has exactly what they’re looking for AND it is a great way to bust through the money mindset issues with over-delivering, under-charging, over-working, burnout, stress and frustration.
But here’s what I see creeping up with many women entrepreneurs when creating these packages, there is this nagging belief that because it’s a premium package, we should dump the kitchen sink in it and give the client everything we have.
We don’t curate the premium coaching package based on the result or solution it offers.
We step into our “it’s too expensive” money puddle and litter the package with our limiting beliefs that the client cannot afford it or will want more because of the price.
The truth is anything that doesn’t support our ideal clients to get the results they want is basically another block for the client. It doesn’t help them.
It is overwhelming and confusing for the client, and a confused client doesn’t buy.
Your ideal clients won’t buy what they don’t need. Add in bonuses they didn’t even realize they could get later on, maybe before they sign up.
Let those Money Blocks Kick Rocks! I invite you to consider that in 9 out of 10 cases, your price is not high. It’s likely that your package just doesn’t speak to your ideal clients’ actual needs, and that’s why it’s not a premium coaching package that sells.
Plus, you’ll just continue over-delivering and creating more stress and overwhelm, which defeats the whole point.
Do your research (always), give them what they need, speak to the pain points, add in the benefits and give it a name that capitalizes on the benefits.
I hope that my mistakes on my journey and references to some of the issues my clients deal with have been helpful for you and will support you to create amazing packages.
Whether you’re a coach or not, these Money Mindset tips are applicable to premium packages in any service-based business.
So, which of these three massive mistakes do you resonate with most?
What is your biggest AHA that you’re taking away from this post?
Cheers to your fabulous success!
I’m MiMi Dabo and I support Women Entrepreneurs who struggle with raising their prices and asking for the money to Charge their Worth and Ask for the Money with Ease.
I help them to ditch the crappy Money Blocks and stories, and package their services into premium packages or irresistible high-end offers for their ideal clients, raise their prices or charge what they’re worth, and market and sell with ease so they can radically increase their income and work less. Visit www.lifecoachforwomen.com.