As a VA and a coach I know what you need to do in your coaching business and how time is precious to you; as it is for all of us in so many ways. Whether it’s the inevitable ageing of ourselves as human beings right through to making the most of a five minute relaxation break during a busy day. There are so many ways that we are up against that ticking clock, so are you valuing every second that you can squeeze from it? Do you know your worth?
When you run a coaching business, especially one where you bill clients on an hourly basis, you really do start to understand and appreciate just how valuable your time is. You will find very early on that you will need to take time (yes, this is time well spent) to calculate your worth. You need to know in monetary value what you should be charging your clients in order to make your business viable. To do this you need to take into consideration your expenditure, profit, skills and experience, the service you provide, your ideal client and of course, research your industry to find out what others are charging.
It’s very easy to undervalue your worth when you start out on your entrepreneurial journey. Most of us want that first client or customer, we’re eager to get moving forward and start making money but is this the right way to go about it? When you start to factor in how much you are charging your client for your time against how much it is actually costing you to perform a task, it’s quite enlightening. It makes you realise that actually, what you are offering your client is a product or service that he or she needs. You have what is required to help them with whatever it is that they have reached out for to gain assistance and that is worth every penny.
In a coaching business, time and money go hand in hand. It’s a very straightforward way to think of things and sometimes we don’t like to be so forthright. Most of us don’t want to appear greedy and just see the pound signs, but rest assured this is not the case. What we need to appreciate is our worth. What we need to appreciate is our time and once we do this, the money part comes naturally.
“Time is more valuable than money. You can get more money, but you cannot get more time.” ~ Jim Rohn
Keep that quote at the front of you mind, print it off and put it by your computer or your workspace, live by this ethic.
Now is the time, (no pun intended) if you haven’t already done so to be really honest with yourself and work out just how valuable your time is. Lay the figures out in front of you, coupled with the time you have available and calculate your worth. You may be surprised by the results.
It’s also worth identifying your time wasting triggers too. Could these be reduced to a more productive use of the ticking clock?
We would love to hear from you with your ‘time to know your worth’ stories. Tell us all about how you discovered your value. How it made you feel once you realised how to spend your time productively and what clients and customers needed to spend to utilise your services. It would be great to hear from you also, if this is something you are struggling with. Let’s share the knowledge, let’s make every second count.
Busy business owners and successful trainers all struggle from time to time to get everything done in the working day. That’s why we put together our list of favourite tips, tricks, and real life examples that you can use to start doing more with the time you have. Download your free copy here
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