“How many years of experience should I accumulate before I can go independent?”
“What degrees and certificates should I have to get my own students?”
“What credentials should I build to charge over $100 an hour?”
To answer these questions, you need to first understand one concept.
When I was a consultant, I helped companies price their products and services. We didn’t just look at how much other companies charge or come up with a number. We conducted market research with potential customers to understand their perceived value of the service because:
People’s willingness to pay is determined by their perceived value of the service.
In other words, how much your students want to pay you is determined by their perceived value of your service, how they feel about your service, and how much they appreciate it.
With traditional marketing, independent teachers get students by asking them to book on their website. Sales is not involved in the student acquisition process.
Students have to make the purchase decision based on the information they see on your website.
All your experience, degrees, certificates, and reviews are super important because that’s all you have to build your students’ perceived value of your service, and it’s all they can rely on to determine how much they want to pay.
However, it is extremely difficult to boost students’ perceived value using simply a website with traditional marketing.
I’ve talked to nearly 500 teachers, and rarely see teachers charging over $50 an hour following traditional marketing. Teachers who can do this are always the ones that have been teaching for years and have certificates and tons of reviews.
Whether you have those kinds of credentials or not, if you want to charge more than $50 an hour or even over $100 an hour, you should do it differently.
You need to integrate sales into your student acquisition process.
You need to conduct sales sessions with your potential students in a one-on-one conversation. Why?
You need the conversation to build trust and help them fully understand the value you deliver, aligning their perceived value with the true value of your service.
Trust me, when you convince your potential students that your program will help them and that you are the best person to help them, they won’t care what your credentials look like.
Unfortunately, most teachers dislike and underestimate sales.
Sure, you can ignore sales and just accumulate more experience, degrees, certificates, and reviews, hoping you can charge $50 an hour one day.
Or, you can learn how to conduct sales to build trust and improve your students’ perceived value of your service so you can charge what you are really worth, instead of the rate limited by your experience, degrees, certificates, or reviews.
Which option are you going to choose?