Have you ever finalized a purchase decision because there was a no-risk guarantee? Sometimes it's hard to know if a certain purchase is going to be right or not, but when the merchant is willing to reduce the risk with a guarantee, it makes the sales process a lot less stressful. Stores like Nordstrom for example, build their whole reputation on it. Their customers pay a premium price for premium quality goods, but also know they're getting premium customer service. It's all very elegant.

I was talking with another coach, and she asked if I had thought about offering a money-back guarantee on my services as a way to make the purchase decision easier for new clients. It's an engaging thought, and a bold one at that, because it's hardly ever done in the consulting world. Most service business owners will usually do whatever it takes to make the customer happy, but rarely do I see a money-back guarantee. I had to think it through before deciding.

As a small business owner, offering a money-back guarantee on services does come with risks. In fact, that's what it's about: being willing to absorb all the risk so that your customers don't have to. Some of the risks you'd have to be willing to bear include: