Yes and no.
I tend to do what Timothy wrote about – find different ways for a client to afford me rather than change my rate. Go down to once week rather than twice. Small group training. Longer time between sessions. I also give free sessions to people who bring me clients, so a client who can’t afford a lot of sessions with me but brings me referrals of people who CAN, can earn sessions..
Temporarily,yes. Sometimes people just go through a rough patch financially, if the client works hard, values the training and is loyal….then it would be hard for me to let them go. However, if a client simply refuses to pay the current rate because they think it is too high, then that is a red flag to me that this may be someone better suited to a different trainer.
I have never reduced my hourly rate. I also never had a situation that someone asked me to. I do offer packages that reduces the rate the more sessions you buy. You charge the rate that you charge because of your experience, so why would you devalue yourself ? Unless of course there is a particular situation of heartbreak.
I reduce my hourly rate mainly because I DO NOT use an hourly rate as a status of what my time is worth
Most trainers feel that because they charge 100 200 or 500 an hour than makes them good and some how is an indicator of high demand.
It’s not ,it’s egotalking which deteriortates consumer confidence
…to clarify..I don’t see my work as a conveyor belt product.
I instead use a pricing plan..that allows clients to set their own rate and I get to decide how many lessons it will take to reachbthe desired out come or create more well being per dollar.
when you set a fixed hourly rate you are an wage worker living paycheck to paycheck.. often pricing yourself out of the market because there are absolutely no sessions filling your roster 10 20 or 25 hours a week..
Zero times any number is zero..
so you claim you are worth 1000 an hour but you only have one client the entire week but when that big ticket client has to vacation or attend a corporate meeting you get zero.. even if you have all the systems in the world you are not working improving fulfillment skills.
I use a pricing plan approach because my skill set is based on an asset building career model and not a wage rate model.
assets increase in value as time goes on..prices fade away once all the hype dies out.
My roster stays full.. My practice has no seasonal slump because clients set pricing allowing me full control of the number of lessons that make up cash flow..
This flexibility enables me to work online or off, on board in mass and be as selective as I want ..with a stable financial system that doesn’t create a barrier to entry of any body..