If you understand what makes your ideal coaching market tick, you’ve got insider knowledge that can be turned into your own money-making products. Offering information products that solve a compelling problem for your market will help boost your credibility, build your brand, and amp up your coaching business revenue.
Here are seven steps to innovating, designing and launching your own products:
To make a satisfying living as a coach, you’ll want to sell your own coaching products. You see, unless your monthly coaching retainer is in the thousands or you carry dozens of clients at once, you can’t make a six-figure income on private coaching alone. Selling your own products is the best way to build trust with your market while you get off the money for time treadmill. The sooner you launch your own products, the better.
As I pointed out in my last post, the best way to get off the money for time treadmill is to diversify your coaching revenue streams. To get past the ceiling on your coaching income, offer products and programs that don’t require more of your time each time you make a sale.
Doing this takes time and effort, so make sure you are working smart. Design your products and programs to fit together into a leveraged marketing funnel.
What is a marketing funnel and how do you create one?
When a client finishes coaching with you, do you scramble to replace them? If you don’t have time to grow your business because your schedule is booked delivering coaching services, then you may have hit a ceiling in your income. Ouch! I call this the money for time treadmill.
It may seem like your only option is to work more and/or charge more. Charging more may be a good idea at this point, but there are other ways to leverage your time and boost your income.
Group coaching, mastermind programs, teleclasses and workshops are natural additions to a well-leveraged marketing funnel for your coaching business. And they help you reduce your time on the “money for time treadmill”. But if you are not used to working with groups, it can be a bit intimidating.
Every group facilitator starts as a beginner and develops mastery by facilitating. Everyone makes mistakes. While they are rarely fatal to the program, it’s good to know about the pitfalls in advance.
Here are ten favorite facilitation mistakes and how to avoid or correct them.
You’ve been wanting to get your ebook published for what… years? It’s time to break through procrastination and make it happen now.
If you’re like most coaches, you’re swimming in good ideas. But it’s the not knowing how to do a thing that keeps you from taking action. Let me walk you through the simple steps to getting your ebook on the market.