How to Price Yourself, Beta Clients & Discounts

Emily Merrell and Lexie Smith review how to price yourself as a coach and then confidently stand behind your pricing. The business coaches review the dynamics involved in selling to friends, signing beta clients, setting boundaries, and when it is and isn’t okay to offer discounts. Tune in to learn the duo's exact formula for pricing yourself right as a coach from the get-go. 

Here’s what you’ll learn:

• How Em has navigated working with friends as clients. 
• How both Emily and Lexie first priced themselves as coaches. 
• The exact pricing formula they teach their clients in Ready Set Coach. 
• Em and Lex’s stance on Beta clients - how and why they are all for them
• How to develop the confidence to stand behind your price point
• When it is and isn’t okay to offer friends & family discounts
• How to own your worth as a coach
• Takeaway homework on how to go about reverse engineering your price point to support your lifestyle.

Follow Em & Lex on Instagram at @readysetcoachprogram

Learn more about the Ready Set Coach Program at Readysetcoachprogram.com

Snag 5 Numbers to Know to Launch a Coaching Business here.

Learn more about Six Degrees Society and THEPRBAR inc.

Transcript

SPEAKERS

Lexie Smith, Emily Merrell

Lexie Smith 

Emily, you look so tan. I'm very jealous. I mean, hi.

Emily Merrell 

i Hi. Good to see you, too. Thank you.

Lexie Smith 

Do you really think so? I really do think so. Your glow you always glow. It's like you have that pregnancy glow. But all the time or wait, wait.

Emily Merrell 

No, I don't think so. No.

Lexie Smith 

You're already here first. No, but why? I know. I know why you're tan. Where did you just get back from?

Emily Merrell 

Oh my gosh, um, so I was just an East the whole Bosch which was an island. Is it still there? It's an island in Mexico that I went to for my sister's birthday. You'll appreciate this Lex got off the plane. I was like it is so cold here. I was just I was shaking, like shaking like a Chihuahua. You know, like the chicken Chihuahua syndrome. And my sister's like, it's we're in Cancun, Emily. It's It's not cold. And I'm like, I'm so cold. tested. And guess what I brought to Mexico? I mean,

Lexie Smith 

I know the answer. Not everyone else guess COVID.

Emily Merrell 

So COVID I literally had been so successful at avoiding COVID For the last two and a half years. tested positive in Mexico. And you know, my some people were texting me. They're like, maybe you should go home you should probably fly home and quarantine at home. And the idea of being on a four hour flight when you were shaking like a chihuahua was not exactly the most attractive thing. But I ended up staying in Mexico. And we had this beautiful house on the island. And I had this room that was bigger than my New York City apartment and a king size bed and flannel sheets oddly enough, and I spent a good amount of time in that room and I read four books and it was wonderful. It was like the best staycation I've had there's worse

Lexie Smith 

places to quarantine that is for sure.

Emily Merrell 

Totally and like being able to look out the window and see the ocean and it was great. Actually it was wonderful. My sister and her girlfriends went out one of the nights and came home wildly hungover and I was Barry Silbert and they were vomiting and I wasn't it was silver

Lexie Smith 

linings. Well, okay, so I have a question you know, of all the horrific things that have happened in the world due to COVID. And for anyone listening he has been really personally impacted i Our hearts go out to you. But one of the things that it has put a stop on is traveling and I know both of us love to travel and so my question for you today is if I had to force you which I am forcing you to choose, what are your top three places you've ever been?

Emily Merrell 

Argentina and I'm number one I it's just like the best place in the world. I was a vegetarian before I moved down there. I'm no longer a vegetarian. Their steak is so effing good. Number two. I love Hawaii like Hawaii is just one of those places every time I go to Hawaii. I feel like I am in the middle of nowhere which you are in the middle of an island. Okay,

Lexie Smith 

what Island?

Emily Merrell 

I love Maui. Okay, yeah, but I've only been to Maui and Oahu so I need to explore more and then the third place would be Anguilla. Oh is so it the water was like the most blue water I've ever seen so clear. I liked how it is tropical but it's not developed and it's not kind of transformed into like a mini America like Jamaica felt like for me. So those would be my three places very tropical. I picked all beach so clearly you see I'm a beach person a risky person. What about you Lex?

Lexie Smith 

Yeah so I'm gonna jump over the pond all minor in the the Europe hemisphere. I don't know if I'd say this in order but Ireland is where my favorite countries in this entire planet. Italy. I did live in Italy for six months. So I have a special place in my heart for Italy, Italy, Ireland and I will pick Kuwait II so that you need to put on your list we've been going there every other year very blessed. I'm very aware since not not as an adult but growing up my parents have a timeshare there and it's just very on touched. Maui is super fun. There's a lot of activities Kawaii is a lot more less touristy. So it's, you know, feels a little bit more. The word I'm looking for. Yeah, remote, I guess. So. It's It's really beautiful. Yeah, very

Emily Merrell 

literally. Yeah. Then they film it there. Yeah, yeah, can you? So can we go back to the days like when we were able to bring a friend on vacation? And can I throw my hat in the ring on this timeshare? Like your husband? Does he need to come?

Lexie Smith  

Yeah. Yeah. Hey, if you want to babysit for night, I'll bring you anywhere.

Emily Merrell 

No, I'm done. I'm done, done, done. Throw me in any time. I know, I always I was always a friend who brought a friend on the trip. And there was like only a few friends that brought me along on trips. But I need a lot more of those friends, more

Lexie Smith 

of those friends. So I was so I have two siblings that are 17 and 15 years older than me for everyone listening, FYI. But basically, I was kind of like an only child. So we would always make friends when we went on vacation growing up, and my dad would do that. And actually, to this day, we have lifelong family. Friends we met on vacations. I know you have a sibling spread too. But yeah, so I didn't bring them with me. But we always met them there. And, and yeah, actually so ready for this transition, guys, because I feel like this has become a thing on this show. Talking about friends talking about meeting new people. When you're a coach, you need to meet new people to become your clients. So today we're gonna talk about pricing better clients, and how to go about, you know, pricing yourself to sell.

Emily Merrell 

I want music when you do this. I think there needs to be like a dona pops up. Exactly. I'm actually Lex, I have a question. Have you ever have found a client? Who has a friend or worked with a client? Who has a friend? Good question?

Lexie Smith 

Yes and no. So you're definitely and I know, you'll go into this more. I am more church and state a little bit with my work is all. Like I separate like friendships a lot of time from, from businesses. So I've had scenarios where clients become friends. I've had one off sessions with friends. I honestly, I've historically had a hard time wanting to hire friends. So I'm like beating the bush not really is my answer. But I know your answer is different. Right?

Emily Merrell 

Yeah. Yeah, yeah, just a little different. And it's interesting, because I think today what we're going to talk about, we're going to talk about beta clients, we're going to talk about pricing. We're going to also talk about boundaries. And we're going to talk about the importance of boundaries, especially when you're a psychopath, like me and your friends are your clients and your clients are your friends. How do you keep it all? Kosher?

Lexie Smith 

Yeah, how do you price if it's a friend, I think and you know what, that's one of my biggest hiccups. And why I've had a hard time and really don't pursue friends for clients is there's a mental hang up there for me about charging friends, money, and I think you have a great reframe there with, you know, supporting, wanting to support each other, but just like full transparency, that's that is why I historically speaking, haven't had a friend that I've worked with, it's more like I have a client and then they become a friend.

Emily Merrell 

Well, I think also, in your defense there. A lot of your friends haven't made that jump into entrepreneurship yet. Yep. And a lot I was. I was kind of like, Captain Jack Sparrow was like the first set of all of the people to be an entrepreneur. So when the time came, I was kind of the first stop on on their map, going launching their journey.

Lexie Smith 

Yeah, yeah. So okay, Emily, as someone who has worked with a ton of friends, how do you navigate from a client perspective? How does that conversation even begin? How is it not awkward? To charge money for a friend to work with you? How do you navigate that world?

Emily Merrell 

Okay, so I'll use a recent example of a friend who became a client, she just moved to Denver and she was starting her business. And I usually the way that my brain works, to your point of like, I don't want to charge your friend is operate from generosity. So I told her I was like, You know what I want to gift you because I want you to start and I don't want you to throw away your years of going to school for this. So she had some hiccups in between I was like, I want to, I want to give you 90 minutes and let's get you organized. So you went to a coffee shop together. And in 90 minutes, we crafted her entire social media strategy, like her entire program. We like under her eye help statement, just she got a lot of clarity of what the next steps needed to be. And I said to her, because she was like, oh, yeah, I think I need to hire a coach. And I was like, I think you need to hire me. And it was the first time in a while that I kind of puffed up my chest. And I was like, Sure, you can shop around sure there gonna be people that are less expensive. And I said, here's why. I was like, I know you, I can, I know you holistically. And I can support you holistically. And I also I do go out with you. So I'm a great wing girl. So in a way you get like a bonus by working with me. Because when someone's asking for or needs a particular thing, you're going to be the first person I think of. And I told her in terms of pricing, because she was without it had been without a job for a little bit. I always keep my price. And I think this is the best thing about knowing not to discount or knowing how not to discount to friends, knowing your numbers and knowing your price. And what I did is rather, is I made a very, I don't know, a generous payment plan for her. So I maintained the price that I had. But I made the payment plan very digestible for the lifestyle that she's living. And so it's been amazing. It's been really cool. And so when we talk about business, she's on Slack. And we talk business, and then we'll be texting at the same time about her date from the night before. So it's keeping those boundaries separate and using slack as a place of work. And then using text messages, a place of African communication, that personal things and making sure that those boundaries are implemented at the beginning. So it was like if you ever want to chat send me funny shit, like text me. But if you want me to review things, Slack me?

Lexie Smith 

Yeah, so I think you just touched on a lot, a lot of different pinpoints there. And this episode is going to be a hodgepodge of a lot of different things. But we talked a little bit about pricing and owning your worth. And you talked about boundaries. Also, we did a whole episode guys on where Emily and I found our first clients. So I just want to highlight, you could find a first client in your immediate friend group, right? If that is available to you, depending on the type of coach you have, or not, right, like as I kind of have shared, I haven't really played in the front pool. I just my friends aren't doing things that they need to, you know, parent business coach for either route is fine. Let's go specifically, though into pricing and how the heck you even begin to price yourself. So talk me through how you first decided and landed at pricing yourself, Emily?

Emily Merrell 

Oh, my gosh, this is such a good question. Because I can't recall how I got to that number. I think I did a lot of math and I had a coach at the time to to help me create my own benchmark for for the first price. So the first price that I charged, if I recall correctly, I was charging 3400 for six months. And so I was thinking, I think I was thinking more hourly at that time, which I hate. Because I highly recommend you do not think hourly about your business because there's so much that goes into your knowledge and your learning and the time in between the support you provide that hourly doesn't really cut it anymore. It broke down to like 550. And just like 550 a month, over six months if that if that sounds right, for math. I like pooped my pants, I thought that was the most expensive thing ever. And then down the line, I reconfigured it and I went from a six month program to a four month program. And then what I did was every five clients, I would kind of give myself like a peer review and see like how are you feeling? Have you invested in in more coaching? Have you learned anything new? And I would see if I felt like I was worthy of a raise because no one was gonna sit you down and give me a raise. I had to give myself arrays. So with that being said I would decide if I was worthy of arrays sometimes would be $500 arrays sometimes it'd be $1,000 arrays. But I usually gave the timeline to be every five clients. So what about you, Lex?

Lexie Smith 

Yeah, you know, I did a lot of market research and to be honest, throwing spaghetti at the wall and here's what you can learn from Emily and I we have now figured out a more An actual way to go about this. So this is how we teach people in ReadySet. Coach to price themselves. Okay, so if you're listening, you know, Emily's way into partying my way into pricing, both different here is the right way to pricing, here's how you can get it right from the get go. We want you to start with your end goal. How much do you want to bring home? Year one in your business? Okay, let's start there. Or the next year in your business, if you're already a coach, let's say you want to profit, so you want to bring home? I'm going to say 50k Just because it's a really nice number. Yeah. Okay. So that is your net, that is what you're bringing home, you then need to understand how much it costs to run your business, right? From systems to hiring coaches to, you know, enter all the things legal fees, but what have you doctrine, you know, taxes based on your state. So again, just to play with pretty numbers here, let's say the cost of your business running your business is also $50,000. Okay, so 50,000 plus 50,000, you're staying with me. So cost of running your business plus your net profit equals how much we need to gross how much our business needs to generate in revenue to at the end of the day, give us $50,000. So add those together, we get 100k. Again, playing with nice, pretty numbers. So that is where you're going to start, you're going to start by saying I need to generate and sell $100,000, you can then backtrack your way into how to price your services. If you are a one on one coach, and you only want to work with 10 clients a year, okay, you need to figure out some way to create a 10k program. Right? If you want to do group programs, I can keep throwing numbers at you. I don't want everyone's eyes to gloss over here, right. But the point is, if you start with the end, you can get to the number you need, and you can create a program that is worth that amount. So a little bit of a different way to think about it. And you're way better at visuals than me. So why don't you kick this off. Okay,

Emily Merrell 

so guys, close your eyes. Take a deep breath. Now imagine that you're living on an island sipping spicy margaritas in between coaching calls effortlessly signing 10k months.

Lexie Smith 

Well, doesn't that sound like every other Facebook and Instagram ad you've seen from coaches? The reality for most new coaches, you find yourself spending countless hours searching for your ideal clients doing all the free trainings and working tirelessly as you attempt to differentiate yourself in a saturated market

Emily Merrell 

way to be a buzzkill lacks, but yes, that's way more accurate. However, what if?

Lexie Smith 

What if what what is

Emily Merrell 

the magic formula to building a profitable and sustainable coaching business? Didn't have to be so complicated? What if attaining your version of a dream life didn't have to remain on your faraway someday list? What if someone took the time to sift through all the crap that's out there and finally created a program built specifically and only for well intentioned and qualified coaches and coaches to be just like you? Hey, we did that. That's what I'm getting at LAX. It's time

Lexie Smith 

for you guys to meet em. Annise business baby ready site coach.

Emily Merrell 

It's a turnkey program built by coaches for coaches that focuses on teaching coaches how to build a profitable business that supports their lifestyle.

Lexie Smith 

Learn more at ReadySet coach program.com

Emily Merrell 

Now enrolling Oh, wait, I so wish that we had when I had started I had had that mind frame I had no idea I was exactly what you were saying throwing spaghetti at the wall and hoping it stuck and hoping someone would pay that much for for coaching. I mean, on the same vein, even with membership, I remember charging $30 For my six series membership, then 35 Then 40 Then 45 And now we're at minimum 60 and feeling terrified to ask that much money for for our membership. And it's interesting, I think time breeds wisdom. And the more clients that you work with or the more exposure you have to other coaches it It provides like a level of opportunity. So it's essentially I don't ever want to network with like the I don't want to be the the wealthiest person in the room that I that I surround myself with. I want to be around people who teach me to stretch and up level. So I think it's surrounding yourself with people who challenge you to raise your prices. and encourage you to dig deeper in your coaching or to look at your pricing in a more strategic way.

Lexie Smith 

Yeah, and you know, it's not just okay, because you could look at what we were just talking about and say, Well, I came at the number of I need to have a 50,000 program, I'm just going to offer 12 weeks and charge 50,000 It's not just charging 50,000 to charge 50,000 Make sure you're then intentionally putting together a market offering that is worth that. So let's talk about that. How do you know worth how do you put together? The services are? How do you decide that what you're offering is worth the number you need to hit? What are your thoughts there?

Emily Merrell 

Oh, I think that's a million dollar question right there. I think with worth a lot of it comes from mindset, it comes from, it comes from practice it, the first client that you get is the best. And we talked about this in our last episode. But I think the second, the third, the fourth clients are the clients that give you the confidence to really step into your worth and, and remind you that you're capable of doing this, I think the first one you can write off as a fluke. And this, the ones that follow are the ones that really remind you that they're lucky to work with you.

Lexie Smith 

Yeah, so I think what you're highlighting AM, which is a big piece of the puzzles, there's a lot of mindset work involved. from a tactical standpoint to fill that in. It also depends on the type of coach you are. So for any set coach, right, we're business coaching, so the service we're providing we can tie numbers to, right, being able to say we're offering a service that generates revenue gives us something tangible, that backs our price point. But we then have to have the mindset and the confidence to stand behind that price tag. If you aren't doing something that's attached to revenue, what can you attach it to? So if you're a health coach, well Peck in my opinion, health is priceless. But what can you can weight loss, weight loss? How much would someone normally spend if they went about weight loss? Without you? Would it be two years? Would there be emotional weight? Would there be diet plan this doctor that like think of some tangibles. So there is you know, a little bit of meat to what you're doing. But just know to you have to work on the mindset part to then stand behind that number.

Emily Merrell 

Yeah, and I think some just to distill that down a little bit more. So time, money, and energy. So those are the things that most people want will pay money for to avoid or to save or to, to, to maximize. We're starting a business coaching business, you are wanting to save them time, or energy, like researching all these things on their own, you're saving them money by researching it all on their own and hiring 17 Different people are making a lot of mistakes. And you're also maximizing their money, because you're giving them the fast track to making the money versus spending that time making all those mistakes. So I love I love that example, at the health coach, I think thinking about what that worth is or what that transformation is. And once you've had one client, at least one client that's gone through that change that success. It's easier to articulate to that future client. And they can see themselves in their past client. So if your goal is to get the best body for your wedding, and she had you know the the mutual connection is your friend to hired this individual for their wedding. You have a firsthand testimonial and visual testimonial of of her work.

Lexie Smith 

Yeah, I'm gratefully and let's talk a little bit about Okay, so you guys are saying we need the mindset and the competence to stand behind our price. Well, how the heck do I get that? And this brings up a topic that is debated, but Emily and I have a stance on it surrounding beta clients. So if you are new to the space, to Emma's point, the more clients you have, the more your confidence will grow. Well, sometimes when you're just starting out, you don't immediately have someone who's willing to pay $5,000. So maybe maybe you're terrified to even say that how can you build confidence beta clients, we are pro beta clients for a multitude of reasons once you get out the kinks, but honestly, it helps your confidence. So Emily, do you want to give them a breakdown of what a beta client is and what that might look like and how they can leverage that?

Emily Merrell 

Definitely. So beta client is typically a client that is either discounted and paid or pays a discount. To be a part of your program, and or is complimentary, all in which that we encourage is an exchange for a testimonial. So I've done beta clients, when I first started, I had two beta clients that I did by, I gave him a month free of coaching. And I told them right out of the gate, how much my coaching was. And if they wanted to continue my coaching with me after our month together, this is how much it was. So they knew all the prices moving, moving into the beta client relationship. And they all chose to continue coaching with me following the one month agreement. And I think what's interesting about beta clients is, it's a great way to create urgency for failing and program. It's also a great way for you to see if you've been like, coaching on this particular thing. We've had, we've had clients from ReadySet, coach, get beta clients and realize, Oh, I've only I only learned how to coach on the phone, and this person wants to coach on Zoom. And so it felt it was more of an opportunity to practice making eye contact with someone will coach Yeah, versus being on the phone.

Lexie Smith 

Yeah, I think there's two two things personally, that I really resonate with, because in my own journey, if you guys listen to our transition into entrepreneurship, you'll hear that I did beta testing, or beta clients before launching the business to see if I wanted to coach to see if I was good at coaching. I did it for me, right, they got a lot out of it. But I think beta clients can really help you figure out a lot Emily's point, it can also help you build confidence. I was on a webinar the other day and these coaches were going on they you know, they're on their own little soapbox, they were very anti beta or anti ever offering free services in exchange for a testimonial. Their whole point was because you're worth more than that. And that's discounting your worth. My my I didn't say this, this was a group forum. And I didn't have the opportunity to say this. I think though, if a beta client allows you to build your confidence you to get out the kinks, there's a ton of value in that that is you respecting and building your worth. So like respectfully disagree with them, hence why I said it's a debated topic. But Emily and I are our pro beta. For the multitude of reasons we just rattled off.

Emily Merrell 

And it's actually funny Alexei, I have beta clients right now, I've been doing some maternity coaching for people. And I'm not sure if I want to continue it or, or not. But after having my son, I was just so passionate about helping people get organized. And regardless if I continue doing it, or I don't, it has been a wildly rewarding experience to be able to support these women through their pregnancy journeys. And know that they're super equipped and organized and ready to whatever happens on the other side.

Lexie Smith 

Yeah, yeah. So basically, to tie this all together, guys, we gave you a really specific way to back into pricing, right, starting with that end goal. When you find that number, that's part of your homework, by the way is to and we'll go over homework in a second find that number, that number seems scary. Get real, why does it seems scary? What do you need to do to be able to stand behind that number? Is it bulking up your offering more? Or is it a mindset issue? Do we need to work on confidence, if it's confidence, then, you know, depending on where you're at, in your coaching journey, consider beta. Not a bad idea.

Emily Merrell 

And I think that's interesting that you say bulking up your offer because I see that happen a lot where people create like a laundry list of things that they're going to be for their clients or like, I'm going to be available 24/7 And you can you can call me beat me. If you want to reach me, yes, can Oh, all the things. And you you realize that more doesn't necessarily mean better. Quantity doesn't mean quality. So if you are feeling that that mindset, or that worth May, it might make sense to just take a look at what you already have and what you can, what you can find to and if you're feeling like holes are missing.

Lexie Smith 

So okay, let's give an example of what positive bulking up would mean because I think that's a great point. I don't want people to hear that and run with it and then all of a sudden add 50 bells and whistles. So let's say you have 10 ks and number you land at you need to create some sort of offering coaching offering for 10k. And maybe right now all you had been planning to do was a one month three session offering that very well could be worth 10k. Also, maybe maybe to two months, it could be adding another month just because you Really, you're new at this and to see the transformation that someone wants in your journey, they need two months, that could be an example of a bulking it up. It could be, Oh, you were thinking about offering group. But now maybe you'll offer the group at 5k. And you'll offer one on one at the 10k. Because that's so there's little things you can do without throwing everything in the kitchen sink, to ultimately get to a point where it just has more perceived value.

Emily Merrell 

Yeah, I think that's a great example. But that doesn't mean you have to make yourself more accessible. Or doesn't mean you have to give away a part of your soul just to

Lexie Smith 

serve no have to impossible it. And the last little thing we want to chat about today, before we wrap things up our boundaries. And Emily, you know, you started, you've given examples throughout this episode on this. And this has been a boundary

Emily Merrell 

so Miss, I am very,

Lexie Smith 

very okay. Yes, so I have not had boundaries. The reason I'm very, very pro boundaries is because I come from a career where I didn't have them. And for me, that looks like always been available, giving clients and people my my physical phone number was feeling like the need to respond right away. And all of that led to a very epic burned out Lexie. So I love the example you painted earlier, Emily with the client you have right now who's your friend, separating communication on platform. So something actually at the top of ReadySet coach, because at this point, we do have friends that come through the program, we make it really clear for this program, we are going to communicate in this way we're going to communicate on Slack, and we're going to communicate on our group calls. This isn't an opportunity to you know, if we're friends text me and have us go back for it, and texts on business friend stuff, we can save for the phone, call me beat me, whatever. But business stuff, keeping in these guidelines, and I think that's really, really important. I also think it's setting a really good example for them.

Emily Merrell 

Right. And I think to that same point, we all have different times that we work best. So Lexi, and I do a lot of our work at about eight o'clock at night, or six o'clock in the morning. And we don't necessarily want our clients to know that we're available at eight o'clock at night or six o'clock in the morning. So usually in that same vein too. It's it's managing the the optics of those boundaries. So if you are working at eight o'clock in the morning, Is it urgent that they receive that that message from you on slack at 8pm? Most likely, it's not unless it is a super for whatever freak reason a time sensitive thing. So what we love about Slack is that you can schedule messages. So a lot of times we'll write messages or we'll respond to messages, we'll have them go out during our business hours. So we'll have them go out at 9am or 10am. So people are communicating with us we're getting used to the habit of us being up

Lexie Smith 

later than normal. So we will do an entire episode on boundaries because Emily and I have so much to say but because we were talking about beta because we were talking about pricing because we were talking about mindset and friends and all the hodgepodge that got brought up we did just want to throw a little bit out there to plant the seed that while you're going through pricing your services and maybe tweaking your offerings to keep in mind boundaries at the court right and the whole formula we gave you for pricing was lifestyle based lifestyle based ties into boundaries so just just bringing that full circle for you guys.

Emily Merrell 

Lex that was great. I'm gonna call you full circle Lex I think you should update your LinkedIn to full circle Lex.

Lexie Smith 

 Do you know my one of my husband's companies his name full circle.

Emily Merrell 

So it's it's your married name? Basically.

Lexie Smith 

So if you're ever in the market for a swivel for hose pump reels, check out full circle Snuggles.

Emily Merrell 

Wow, that is the sexiest product

Lexie Smith 

and no, we really do the same thing.

Emily Merrell 

Seriously? Yeah, I have so many questions offline. How do you market that product?

Lexie Smith 

Oh, do you know the other he's? They make pumps for the liquefied gas industry. So

Emily Merrell 

I'm in the need I get how many can I get? Right? Friends? Yeah, let's see, do I get a friends and family discount?

Lexie Smith 

Know

Emily Merrell 

that this does remind me because we did talk about discounts at the beginning and pricing. But I do want to say there are times for discounts and there are opportunities if you are a photographer or service based thing. service based person I would definitely craft a discount but if you want to that feels right for you. So I'm just going to use some examples. My photographer was one of my dearest friends. I hired her. She gave me her friends and family thing I have no idea if she just jacked up her prices and gave me a discount on it. like that could have been a case, I had no idea what our pricing was. But the the gift of the discount meant a lot to me. Yeah. So there is a perception with the discount if you do want to do friends and family and say your prices are listed, like you could always do something like that. The other thing too is I get a massage, a monthly massage, which I love through my friend, she gives me a friends and family pricing, which is much lower than the standard rate. But I tip basically to the price of what the the massage would be. And then I gifted a massage to my mom. And you know, she let me know, she's like, just you know, I'm not honoring the friends and family rate with this. This is like the full price.

Lexie Smith 

Yeah, good for her for Yeah. And I think it's all about how it feels, I think is the point, right? Like, again, if you're a coach, you have your own business, and you're able to set your own rules. And so if you're going to do a friends and family discount, you have every right to just make sure it feels good. And no, you don't have to either. If that doesn't, if you're gonna have resentment by offering a discount, don't do it. Yes, agreed. Okay, so before we wrap things up, we're just going to overview your homework one more time. So we want you guys to use the pricing structure we talked about. So start with how much you want to bring home, right? Your net, add your cost of business, right? It's going to get your gross, figure out how many clients you want or what type of packages and back into your number that way. And when you land on that number, do a little inner work. Are you going to be able to show up and say that number if you can't show up and say that number, then I guess one of your homework is to decide if you want to do beta clients or not.

Emily Merrell 

 Yeah, great homework.

Lexie Smith 

Yeah, cool. So again, you know, we love we love homework. So tell us how it goes. Slide into our DMS. Reach out on Instagram at ReadySet coach program. And until next time,

Emily Merrell 

until next time, we'll see you there.