When you’re starting your coaching business, you may think that the only way to make money is to spend time with your one- on- one clients helping them work through their individual issues and leading them on the path to attain their version of success.
Nope.
It’s 2018. And there are ENDLESS ways for you to inspire the socks off of people AND make an income on your own terms.
So if you’re looking for new ways to monetize your brand, or you want to get creative in your business and break out from the norm- read on.
I’m about to share some interesting ways you can create passive or leveraged income while on your mission to inspire the world, so you can help more people, spread your message in a bigger way and create balance in your business.
7 interesting ways to make money as a coach
1. Launch a group coaching program
One of the best ways to leverage your time, help more people and make more money is to launch a group coaching program.
As a coach, you have likely mastered the content in your one-on-one programme and have helped your clients attain amazing success.
What you can now do is launch your program and open up the availability to a group of people.
You can bring in more income at scale.
If you think about it- if you price your group coaching program at $2000, then you only need to sell your program to 10 people to have a 5 figure launch.
Even with a small audience, a five figure group coaching program launch is easier than you may think.
Even my first group program launch was a five figure launch…. and I was figuring it out as I went along.
I’ve now perfected my launch strategy, and have gone on to multiple five-figure launches where I LOVE working with my clients.
Your clients also get the added bonus of having a supportive community where they can work on their goals, and be surrounded by amazing like-minded people who get them
If you’re serious about growing your coaching business and you want to learn more about attracting your dream clients, and learning how to launch your group coaching program into the world, sign up for the *YES: DREAM CLIENTS* waitlist and be the first to know when we relaunch.
And now, let’s talk about method #2
2. Launch a course
Another incredible way to create passive income is through launching a course. I love using tools like ‘teachable’ to host courses, as it’s a gorgeous interface and super easy to use. I have a blog post that shows you how to set up teachable *here*
The beautiful thing is, you can launch your course as a group coaching program as I mentionned above, and then you can launch your program and sell it, before you even create the content!
When I launch big courses, I like to launch it as a group program first, which lets me build the course and gather feedback from my dream clients as I build it out which makes it an even better course, because I build it with the feedback and suggestions of the kind of people who are willing to invest in themselves, and it is a better product when I sell it evergreen.
3. Start a membership site
Another great way to make money as a coach is to launch a membership site.
Having a membership is SO rewarding because you have a real community that you get to grow with and see their progress.
Having a membership site was a huge key to helped me quit my old 9-5 job to take my business full time. It allowed me to create consistent income that I could depend on coming in every single month, which was such a godsend because I had so much fear around quitting and not having consistent income I could depend on.
With the financial security I got from making passive and recurring revenue from my membership, I created a revenue stream for myself that is as stable and dependable as a paycheque, without the 9-5 job. If you’re interested in learning more about launching your own membership site, I have a blog post on it *here*
4. Create an email automation product
When I first started my business, so many people were asking me how I stayed so motivated and focused.
My secret weapon?- my morning rituals.
I had this *DREAM* to come out with a product that shared my morning rituals- but there was so much fear around “would people ever buy it?” So I put it off and put it off.
Eventually I had enough, and my fiancé had enough of me staying in fear mode so we played around with all these different softwares until we found one that would work for what I needed.
Those morning rituals became “Good morning Muse” which have helped hundreds practice self-love in the mornings and take back the beginning of their days.
5. Collaborate with brands
Because I just love sharing my message on Instagram and posting photos, motivational tips and guidance for ambitious women on Instagram I started to get noticed by more than just my following- I got noticed by brands too.
I’ve always loved fashion and so because of building my audience, combined with my message of female empowerment, and attention to the aesthetic of the pictures I post. I’ve been lucky enough to collab with some incredible brands like NIKE, Lady Speed Stick, Toronto Union station and more.
I’ve made tens of thousands from doing collabs and also have gotten my hands on some incredible products and had amazing experiences because of these collaborations.
6. Sell merchandise
I have a thing for cute merchandise. I love drinking out of motivational mugs, buying cute notebooks, and sweaters that keep me inspired.
I created my own line of mugs, sweaters and merch that my audience loves! And I love to see them wearing their YES on their sleeve.
If you’re thinking of starting your own merchandise line, get started with Shopify to host your ecommerce store- you can get up and running in days. In order to have your prints on merchandise, my team used a tool called Printful that helps us make the magic happen. You can upload your graphics onto merchandise, and when you get an order, they just fulfil it and ship it to your customers for you.
Wonder what my merch looks like, or want some for yourself? You can find my shop here.
7. Write books or ebooks
Most of the time, inspired coaches, influencers and entrepreneurs like us embark on our journies because we have a story, and a message that we are inspired to share with the world.
What better way to tell your whooooole story than to write a book!?
If you want to dip your toe in the water, you can start by writing e books and putting them up for sale on your website or a Shopify store.
Once you have the confidence to share your book with the whole world, publish your book on Amazon.
With tools like Createspace it’s never been easier to get your book in print and share it to the world. With amazon, people all over the world who are interested in the topic you’re writing about can search through Amazon’s database and find your book!
So here are just a few ways that you can make it rain as a coach! ☔
If you have a desire to become a coach, but you’re wondering how you’re going to make money, or you see yourself surpassing just doing 1:1 sessions with clients, take an idea from this list that feels best to you from above and run with it!
Branching out and offering multiple products are a great way to attract clients of every price point and allow you to create passive income as you grow your audience.
If you are looking for ways to stand out in your space, uplevel your sessions with your clients, or you want to know how to become a successful Coach that creates massive change in people’s lives, join our FREE 5 day challenge where I’ll be walking you through coaching strategies and techniques that help you change lives, and stand out as an influential coach, so you can become a master at what you love to do.
Sign up for the 5 Day Elevate Your Sessions Challenge at yessupply.co/elevate.
We start on June 4th at 7 PM EST/ 4 PM PST.
If you want to be automatically added to the challenge, be added to our list for upcoming trainings to help you uplevel your business as a coach, and added to upcoming offers, click here to be added automatically.
xx,
Reese
Founder of YES SUPPLY. Master NLP Practitioner and Success Coach.
PS: I just shared 7 new income streams you can add to your coaching business AND invited you to my upcoming FREE 5 day training- The Elevate Your Coaching Sessions Challenge. We start on June 4th at 7 PM EST/ 4 PM PST.
I’ll show you exact tools to have incredibly life-changing sessions with your clients, learn NLP and Subconscious mindset tools, and make a name for yourself as a stand out coach.
Want to join us? Click here to be automatically added to the challenge, and join our list with upcoming trainings and offers. Just one click to be added automatically.
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