Creating Passive Income for Life Coaches
Here’s the truth: There’s so much more to a coaching practice than one-on-one client sessions. At some point, you want to leverage up, make more money, and find ways to expand the reach of your message.
The following is an excerpt from the Coaching Blueprint digital marketing program.
Truth: Creating passive income for your coaching practice does not have to be hard.
Let’s talk about how you can get started. Grab a pen and paper!
Answer these questions
What are people asking you about, most often? What are your clients asking you about? What do people come to you for advice about?
Examine your blog posts. What’s the common theme? How could you pair those posts together and then expand on that theme in some way with exercises and prompts?
Who are the influencers in your circle? Who else can say a lot about your topic? Ask them for interviews. Put the interviews together in an organized way and sell them.
What’s something that no one else is doing with this content? For example, Blueprint coach Dyana Valentine started doing a Woke Up Knowing offering that was about the combination of intuition/spirit/synchronicity with business. No one else was doing that–plenty of people were doing intuitive counseling on the phone, or reviewing a business plan. No one else was tapping the power of dreams.
What BIG THING have you overcome? Have you survived an abusive relationship? Repaired your relationship with food? Decided to disconnect from your family of origin?
What processes are you intimately familiar with? Are you the most organized person you know? Are you great at project management? Think about the processes that you could teach to others. If you’re not great at combining explanations with something visual, pair that with what someone else is doing–you bring content, they bring visual.
The first time that you ever put content out there, I’d suggest that you keep it simple, and that you make it either free or inexpensive–or even “Here’s the suggested price, and just pay what you can.”
Why? Because when you’re just starting out, you want to remove whatever hurdles and obstacles you can that would prevent someone from opting in, and cost is always a factor for people.
By keeping it simple, you can create something that spreads and grows a reputation for being good. You can also learn valuable launch strategies, get past techie snafus, etc., without feeling the pressure of people demanding hefty refunds. (Of course, you’re always going to put your very best into what you do, but anyone would feel more pressure when more money is on the table).
Best Times to Launch
There are, in fact, times that are not great for launching!
It’s not great to launch something during the summer. People are on vacations, kids are home from school, and things are more overwhelming. Thus, people are less likely to embark on some kind of new program.
It’s not great to launch something right after the Christmas season–people are tapped out from paying bills!
Some would argue that it’s not a great time to launch during Christmas, because you’re competing with other people–Christmas is a noisy market. On the other hand, it’s also a time when people are giving gifts, and one of those gifts might be the gift of your e-program.
Whenever you decide to launch, make sure that it’s a time when your target market will want to hear from you.
How far in advance to plan
Also make sure that you plan your launch at least three months in advance for planning, with at least (at least!) one month of time beforehand where you notify people of what is to come. I definitely hear from coaches who share that they don’t do well with a launch, and when we dig deeper we learn that they didn’t give themselves enough time to launch.
The Coaching Blueprint lays out more details of the launching strategy, as well as other essential workflow strategies, if you want to get more detailed.
For now, your emphasis is answering these questions:
* What am I burning to create? What do I really want to share with the world?
* What does the world actually need? How will what I provide really help people with something?
* What’s my ideal for the format?
* What’s my timetable for creating this?
* What’s my launch strategy?
If you can answer those questions, you’ll be well on your way! Ready to dive in, deeper? Check out the Coaching Blueprint digital program.