What is Pay What We Enjoy Pricing?
I'm often asked how a potential client and I come to a Pay What We Enjoy (PWWE) plan for my coaching services. The answer is pretty simple, but many people think it's complex.
Keep it Simple
In its simplest form, PWWE pricing could be seen as a negotiation. A potential client and I discuss what they'd enjoy paying for each month of Coaching. If they wish to “pay it forward”, clients will agree to pay more than my normal rate for their sessions. If they feel a need for a discount, we discuss a rate that works for with their budget and mine. Of course, I have bills to pay and cannot accept all offers, but more often than not, we come to an agreement that works for both of us.
Not Just for Discounts
While you might assume PWWE always equates to lower pricing, there are times when someone wishes to fund scholarship clients by paying more than retail rates. In fact, the PWWE program wouldn’t work if some clients weren’t able and willing to pay more than my “retail” rates.
Focused on You and Your Circumstances
Every potential client that requests PWWE pricing brings with them a different set of circumstances and talents to offer; there is no one-size-fits-all answer. While there is an amount below which one becomes a scholarship client, there are no set rules. We work together to create what will work for us.
How to Determine What You'd Enjoy Paying
As I said to a recent client requesting PWWE, "think of this less like haggling and more like determining the amount that would keep both of us invested while also not putting a strain on your finances." Another way to look at it is “pay an amount that will cause some financial pressure but not force you into eating instant noodles every night."
After that conversation, my new client realized he didn't actually need a discount on their coaching plan. Instead, he realized my monthly rate fit his budget perfectly. It wouldn't force him to eat Ramen every night of the week, and it was enough of an investment that he'd take the partnership seriously.
Flexibility is Key
Part of PWWE is to check in with each other every few months to ensure the amount you are paying is still working the both of us. We don’t have to get our plan perfect at the start.
In fact, we will likely change our PWWE plan over time. Got a great promotion and raise? Perhaps you'll move to retail rates or even pay more to help someone who can't afford full-rate coaching. Been laid off? We might agree to a lower rate while you are looking for your next opportunity.
Not for Everyone
I offer Pay What We Enjoy to accommodate clients with varying financial situations. The majority of my clients never seek a PWYE plan, and simply pay regular rates.
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