ief rather than an action, but you need to identify and understand the value you provide to your clients and ensure you set your fees accordingly. The chances are you "under value" rather than "over value" what you do and therefore set your fees too low. Questions like "Am I worth that much?" "Will people pay that much for my services?" start to surface and the doubts start to creep in.

One of my coaching clients offers a home personal training service in London. She trains clients at their homes, according to their busy s

Setting your fees is something I know that a lot of people struggle with. But it's really very simple and has only 2 key components...

1. Simple maths
2. Your "Value"

Step 1 Simple Maths

The best place to start is to work out what your ideal annual income is....what you WANT to earn, not what you think you CAN earn.

1) So for example, let's say you want to earn ?50,000 per annum.

2) Now decide when & how much holiday you want each year (and don't forget half terms if you have kids). This gives you the total number of weeks you'll be earning an income for. So let's say you want 6 weeks off in the summer and a further 2 weeks off. This gives you 52 weeks - 6 weeks - 2 weeks = 44 working weeks each year.

3) Now decide which day of the week you'll work ON and not IN your business - you MUST plan this so that you give yourself enough time to plan, manage & grow your business and not spend all your time doing-what-you-do in your business. You should also build in a buffer day each week, on which you can play catch-up and do all the things you haven't had time to do whilst working in your business.

You can use this template to help you plan your week: Weekly Time Planner Template

4) Now add up how many hours that leaves you to work each week and decide how many hours you want to work on those days. So that might leave you with Monday, Tuesday & Wednesday to work "in" your business and if you want to work 5 hours - that means you'll be working for 20 hours of "fee-earning" time each week. And then multiply this by 44 (the number of weeks you'll be working) to give you the total number of hours per year that you will work IN your business = 880 hours every year

5) Divide your desired annual income by the total number of hours you'll : 50000 / 880 = ?57 per hour

6) Now look at your range of services & skills and what you're charging for them - and what you should be charging for them.

Step 2 Value for Money

The next stage in deciding on your fees is understanding the value you provide. It's more an attitude & belief rather than an action, but you need to identify and understand the value you provide to your clients and ensure you set your fees accordingly. The chances are you "under value" rather than "over value" what you do and therefore set your fees too low. Questions like "Am I worth that much?" "Will people pay that much for my services?" start to surface and the doubts start to creep in.

One of my coaching clients offers a home personal training service in London. She trains clients at their homes, according to their busy sc

ds). This gives you the total number of weeks you'll be earning an income for. So let's say you want 6 weeks off in the summer and a further 2 weeks off. This gives you 52 weeks - 6 weeks - 2 weeks = 44 working weeks each year.

3) Now decide which day of the week you'll work ON and not IN your business - you MUST plan this so that you give yourself enough time to plan, manage & grow your business and not spend all your time doing-what-you-do in your business. You should also build in a buffer day each week, on which you can play catch-up and do all the things you haven't had time to do whilst working in your business.

You can use this template to help you plan your week: Weekly Time Planner Template

4) Now add up how many hours that leaves you to work each week and decide how many hours you want to work on those days. So that might leave you with Monday, Tuesday & Wednesday to work "in" your business and if you want to work 5 hours - that means you'll be working for 20 hours of "fee-earning" time each week. And then multiply this by 44 (the number of weeks you'll be working) to give you the total number of hours per year that you will work IN your business = 880 hours every year

5) Divide your desired annual income by the total number of hours you'll : 50000 / 880 = ?57 per hour

6) Now look at your range of services & skills and what you're charging for them - and what you should be charging for them.

Step 2 Value for Money

The next stage in deciding on your fees is understanding the value you provide. It's more an attitude & belief rather than an action, but you need to identify and understand the value you provide to your clients and ensure you set your fees accordingly. The chances are you "under value" rather than "over value" what you do and therefore set your fees too low. Questions like "Am I worth that much?" "Will people pay that much for my services?" start to surface and the doubts start to creep in.

One of my coaching clients offers a home personal training service in London. She trains clients at their homes, according to their busy s

play catch-up and do all the things you haven't had time to do whilst working in your business.

You can use this template to help you plan your week: Weekly Time Planner Template

4) Now add up how many hours that leaves you to work each week and decide how many hours you want to work on those days. So that might leave you with Monday, Tuesday & Wednesday to work "in" your business and if you want to work 5 hours - that means you'll be working for 20 hours of "fee-earning" time each week. And then multiply this by 44 (the number of weeks you'll be working) to give you the total number of hours per year that you will work IN your business = 880 hours every year

5) Divide your desired annual income by the total number of hours you'll : 50000 / 880 = ?57 per hour

6) Now look at your range of services & skills and what you're charging for them - and what you should be charging for them.

Step 2 Value for Money

The next stage in deciding on your fees is understanding the value you provide. It's more an attitude & belief rather than an action, but you need to identify and understand the value you provide to your clients and ensure you set your fees accordingly. The chances are you "under value" rather than "over value" what you do and therefore set your fees too low. Questions like "Am I worth that much?" "Will people pay that much for my services?" start to surface and the doubts start to creep in.

One of my coaching clients offers a home personal training service in London. She trains clients at their homes, according to their busy s

(the number of weeks you'll be working) to give you the total number of hours per year that you will work IN your business = 880 hours every year

5) Divide your desired annual income by the total number of hours you'll : 50000 / 880 = ?57 per hour

6) Now look at your range of services & skills and what you're charging for them - and what you should be charging for them.

Step 2 Value for Money

The next stage in deciding on your fees is understanding the value you provide. It's more an attitude & belief rather than an action, but you need to identify and understand the value you provide to your clients and ensure you set your fees accordingly. The chances are you "under value" rather than "over value" what you do and therefore set your fees too low. Questions like "Am I worth that much?" "Will people pay that much for my services?" start to surface and the doubts start to creep in.

One of my coaching clients offers a home personal training service in London. She trains clients at their homes, according to their busy s

ief rather than an action, but you need to identify and understand the value you provide to your clients and ensure you set your fees accordingly. The chances are you "under value" rather than "over value" what you do and therefore set your fees too low. Questions like "Am I worth that much?" "Will people pay that much for my services?" start to surface and the doubts start to creep in.

One of my coaching clients offers a home personal training service in London. She trains clients at their homes, according to their busy schedules and is flexible in her scheduling to allow for the fact that her politician, millionaire business people and noble clients are often not in the country to keep to their training schedule. But she felt that she couldn't justify raising her prices or charging any more than ?40 per hour (yes, ?40 in London for a home personal training service), in case her clients thought this was expensive.

I pointed out that she was providing a premium, no hassle service in the comfort of their own homes, according to their schedules and that most of them wouldn't train if it wasn't for her. I guessed that the clients who loved her training and valued her skills would be happy to pay more...and guess what? I was right!

If you are providing a great value to your clients lives, then the chances are most of them are more than happy to pay for the value you add to their lives.

If you are great at what you do, provide value to your clients lives and know who you want to work with, your ideal clients WILL pay your fees and they WILL know & appreciate your worth...if they don't they're not your ideal client!