Luxuries are priced on value

Jan 2, 2024 | Private Coaching

Your primary consideration when you buy coaching should be whether the value exceeds the price you will pay.

“I like the idea of having a ***, but I don’t think I can afford it.”

I wonder how often you said something similar, especially when considering buying luxury goods.

It comes up regularly in the life coaching arena. Spending two or three thousand pounds on a three-month coaching programme gets put into the “luxury” category and on the back-burner until “I can afford it.”

I even hear it in connection with my Empty Nest Navigator short coaching programme. For a small fee, Navigator clients have the conversation they wished they had years ago and three months of supervised self-accountability.

So when clients say they cannot afford it, I wonder if I have fully explained the programme’s value or whether they have simply moved from the headline to the price without looking, figuratively, under the bonnet of the product.

Luxuries and commodities

When you buy a luxury product, whether it be coaching or a new car, you will benefit from determining the value of the purchase and comparing it to the price.

Determining if you see the product as a commodity or a luxury is also helpful. For instance, you will probably classify a can of beans as a commodity (although, for some, this will be a luxury), and your primary consideration will be the price.

Conversely, with a luxury item such as coaching or a car, your primary consideration needs to be whether the value exceeds the price you will pay. Therefore, you need to explore the product in depth before buying.

Compared to the value you receive, an underpriced product might be as offputting as an overpriced one. As I explained in an earlier post, you pay peanuts, and you probably get monkeys.

If the product seems attractive, but you are still unsure, then think about the cost of not buying it. Opting not to buy a new car, for instance, could lead to significant servicing bills for the old car, higher fuel bills from an inefficient engine and back problems from old car seats.

I wonder what it will cost you not to buy a Navigator and forgo the chance to have the conversation of a lifetime, run-on quick coaching and supervised accountability.

Think about it!

My name is Jeremy Deedes, and I support parents whose children have left home to re-organise their lives and money so that they grow their wealth, make a difference and live with purpose, grace and style.

The Empty Nest Navigator is a single session and ongoing support to help you get started. Find out more at jeremydeedes.com/navigator/ or register your interest now to take part in one of twelve navigator sessions between 9 and 18 January 2024.

What do you think?

Your views are important, and your fellow readers would love to hear your opinion, so share your thoughts in the comments box below, and thank you for your time and generosity.

What do you think?

Your views are important, and your fellow readers would love to hear your opinion, so share your thoughts in the comments box below, and thank you for your time and generosity.

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