Ep #230: Processing Fees and What to Do with Them
Make Money as a Life Coach®
Stacey Boehman
4.5 • 859 Ratings
🗓️ 24 May 2023
⏱️ 18 minutes
🧾️ Download transcript
Summary
Processing fees are the cost of you doing business, not your clients' cost of buying from you. If you're currently charging your clients processing fees instead of taking them on for yourself, I'm helping you understand what to do.
Tune in this week to understand how passing on the responsibility of paying processing fees to your clients makes you and your business look, and why it's not a good idea. I'm inviting you to consider how doing this affects your clients' experience, and what can shift when you own your business expenses.
If you want to start making serious money as a coach, you need to check out 2K for 2K. Click here to join: https://staceyboehman.com/2kfor2k!
Transcript
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| 0:00.0 | Welcome to the Make Money as a Life Coach podcast. |
| 0:09.0 | We're sales expert and master coach Stacy Bayman teaches you how to make your first 2K, |
| 0:14.0 | 20K and 200K using her proven formula. |
| 0:19.3 | Hey coaches. |
| 0:20.3 | Welcome to episode 230. Today, I have a little bit of a rant for you. |
| 0:28.6 | Short, sweet, to the point, but I got to get it off my chest. I have got to break all of you, |
| 0:42.0 | some of you, if you are doing this of a very bad habit. |
| 0:44.1 | And really, I don't even know. |
| 0:48.2 | I know some of you are probably doing this, but I've just seen this in other contractors, |
| 0:51.5 | both personal and professional throughout the years. |
| 0:55.3 | And my husband and I are constantly talking about it. And so I just decided I've got to record a podcast and talk to you all about it. So we're going to |
| 1:00.1 | talk about processing fees and what to do with them. Okay. So processing fee would be like if you |
| 1:08.2 | use PayPal or Stripe to take professional payments in your business. |
| 1:16.2 | You get charged a processing fee for the service of the company, PayPal or Stripe, processing |
| 1:25.7 | your payment, making it you capable of accepting payments. |
| 1:30.9 | Okay? |
| 1:31.7 | That's a service. |
| 1:33.7 | So here's what I am always blown away that I find happening. |
| 1:38.6 | And if this is you, I don't want you to have shame about it. |
| 1:41.3 | Okay. |
| 1:41.6 | You don't need to like feel called out in a negative way. |
| 1:45.3 | Feel called in a positive way. it. Okay. You don't need to like feel called out in a negative way. Feel called in in a positive way. Okay. But this is what my husband and I have seen a lot of is contractors and |
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