For those of us who want to stand out, charge what we are worth, and beat inflation in 2023, it’s vital to realize three hard truths.

Why many coaches & consultants will struggle in 2023?

For those of us who want to stand out, charge what we are worth, and beat inflation in 2023, it’s vital to realize three hard truths.

Hard Truth #1: Standing out as a coach or consultant and charging what you are worth is more challenging than ever because new coaches and consultants have flooded the market in the past few years, thanks to Covid and the ensuing shifts in how people view their work.

Ask yourself:

  • Is it getting harder to find my ideal clients?
  • Is it getting harder to turn prospects into clients?
  • Is it getting harder to charge what I am worth?
  • Am I struggling to raise my rates to keep up with rapid inflation?

If the answer to any of these is yes, then keep reading.

The Commodity Problem

Hard Truth #2: Most coaches and consultants are commodities.

A commodity is a basic good used in commerce that is interchangeable with other goods of the same type.

In other words, most coaches are easily exchanged for another. The price-sensitive consumer (of which there are many in today’s climate) can easily browse for the best deal.

I’m sure you’re seeing where this leads. If you are one of many in a sea of sameness, you have no choice but to compete on price.

Have You Positioned Yourself as a Commodity?

Now, I can sense you thinking, “But Jason, what I do is amazing! I deliver great results. I’m better than so many others doing the same thing. How can I be a commodity?”

I hear you. I believe you. I have no doubt you do fantastic work.

However, the perception of your prospective clients is what matters. Do they understand how amazing you are, why you are the only choice, and why you are worth every penny?

Only you can answer that question. You owe it to yourself to ponder the honest answer. See the four questions at the top of this blog post to help you evaluate this.

The Antidote to Commodification

If you are not charging what you are worth and increasing your rates over time to match or beat inflation, you are competing on price.

This is a race to the bottom. It leaves your business vulnerable to the shifting market winds and makes it difficult to maintain the profit margins you need to grow.

Plus, do you want to attract clients who look for the best deal or those who look for the best value, regardless of price?

The antidote to selling based on price is selling based on value. The easiest way to sell based on value (the value that reflects your brilliance) is to differentiate your brand and your approach to generating value.

This is also the antidote to commodification.

Look, I fall into the commodification trap, too. How many online course coaches are there? Too many. Am I one of the best? Yes. I know it.

Not only that but “online course coach” is a reductive way to explain how I transform my clients’ business models. It’s time to redefine my “category of one” positioning, and the current market requires it of you, too.

Inflation is Nipping at Our Heals

Hard Truth #3: If you are a commodity, you will struggle to stand out, charge what you are worth, and grow a healthy business.

Further, your business might even be shrinking because if you can’t charge and readily increase your rates over time, then inflation will evaporate your business like a cup of tea on the surface of Venus.

I don’t want that for you and neither do you.

Here’s the Good News

Now it’s time for a…

Hopeful Truth: You are not a commodity. You are a category of one. You simply need to uncover and communicate it to your ideal clients in a clear and compelling way.

You need to position yourself as the only person who delivers the results your clients want in a way they can’t get anywhere else.

The good news is it’s more doable than you think if you’re one of the smart ones who realizes what needs to be done and puts in the thoughtful work.

Here’s more good news.

My previous blog post emphasized the importance of systematizing your unique genius to create scalable offers. My solution to this also lifts you out of the sea of sameness and into a leadership position as a category of one.

If you want to:

  • Uncover and spotlight what makes you a category of one
  • Generate business growth that leaves inflation in the dust
  • Confidently and easily charge what you are worth

Then stay tuned for my posts in 2023 for more on how to differentiate your positioning and shake off the threats of commodification so you can amplify your income and impact.

In the meantime, start pondering what you offer that can position you as a “category of one.” I’ll help you further uncover this in the upcoming posts.