When you’re starting your coaching business, you may think that the only way to make money as a coach is to spend time with your one- on- one client helping them work through their individual issues and leading them on the path to attain their version of success. I am trying to explain about 7 interesting ways to make money as a coach in this article.
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, while having ultimate freedom in your schedule, AND feeling good about the work you do.
And I’m about to pull back the curtain and show you some ideas you can implement ASAP.
But over the years, I’ve raked in the bucks through passive income sales and spent my fair share on my own personal development too- from getting certified as a coach, to courses on mindset, business, and spirituality.
So if you’re a coach, influencer, teacher or expert and you want a way to do the work you’re passionate about, while leverage your time so you can make more in less time… read on.
I’m about to share some interesting ways you can create passive 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.
Here are 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 as a coach is to launch a group coaching program.
As a coach, you have likely mastered the content in your one on one program 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.
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 really didn’t know what I was doing.
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 *YES DREAM CLIENTS*
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 mentioned above initially, and then you can launch your program and sell it before you even create the content!
When I launch big courses, I always 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 as an evergreen product.
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 help me quit my old 9-5 job to take my business full time.
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.
Want to learn how to create a stable and profitable membership site, and get all my favorite tech tools to help you get started?
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 the fear mode so we played around with all these different software 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 have 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. Build Out Your Brand With Cute Merchandise For Sale
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.
Wonder what my merch looks like, or want some for yourself? You can find my shop here.
7. Write and Sell Books or E-books
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 ebooks 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 with 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 the idea that feels best to you from above and run with it!
Branching out and offering multiple products is 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 more ways to 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 a 5-day training that helps you change lives, and stand out as an influential coach, so you can become a master at what you love to do.