In my mastermind group there seems to be many conversations going on about whether or not to offer discounts to clients and whether or not to accept a deal a client wants to make with you for a discount.
I don’t know about you but this is something I have struggled with for a long time. In the past four years I have found myself offering discounted courses, letting clients negotiate with me for a lower hourly rate for my services, and not gone after clients who never fully paid their payments.
The one thing I have learned over and over from this is when I do something that is out of alignment for myself (which all three of the above are) it is a major energy drain. It causes me anxiety, feelings of not being good enough, as well as being a total distraction.
Here are some thoughts to consider about discounts:
When you are just starting out and lack experience you feel it’s necessary to start at a discounted hourly rate to attract more clients. However, you should never undercut the market standard hourly rate for your industry or you are doing not only a disservice to yourself but your peers as well.
What do you consider more valuable, a one hour Q&A with a coach or mentor or a discount? (Remember you think like your ideal clients so what you value they will too.)
Instead of discounts, what extra value could your provide your clients within the product or service? (Hint: What are your clients struggling with that you could help them fix?)
Discounts are also very subjective. To some your discount may be a great offer, other may wonder why you are discounting at all.
I’ve also always found that if it’s something I really want to do I can manifest the money. For example, when I discovered a mastermind I really wanted to be in that had a monthly fee, I signed up knowing I didn’t have the money in coming in to pay for it. However, I wanted it so badly I got my hustle on and started creating daily income to pay for that and more.
You have a couple of options when it comes to discounts:
You can decide the clients are being cheap and trying to lessen the value of your offer or service.
You can decide they really enjoy working with you and want to find a way to continue, so they are offering what they can do at the time. You can accept or counter offer.
You can create an entirely new offer for the client which you are both comfortable with. (This sounds more like VIP treatment on a beer budget to me).
Keep in mind offering discounts to one client it isn’t fair to other clients who have paid full price for the service or program.
Keep in mind that you are doing a disservice to your client by allowing them to think they can get the result without investing at the appropriate rate and they wouldn’t be experiencing the true benefit of investing in themselves.
I truly believe I am at the point in life where I believe gaining more value from a coach, service or course, is better than receiving a discount. I’m betting my ideal clients feel the same.
I would love to hear you thoughts on offering discounts.