As a coach, consultant, or trainer, your business is probably set up for you to get paid in exchange for your time. That means you get paid when you are working with a client. And you don't get paid when you're not. There are two inherent problems here:
1. Hours are finite. You can't order up more time when you need it. That means if you have a full slate of clients, there's no way to add more to your schedule.
2. You only get paid when you work with people. It could be in-person meetings, workshops, or phone or video consults. But any way you look at it, you're getting paid for your time.
I'm going to guess that you started your business to help as many people as possible… not just the few who you could manage to fit into your schedule (assuming they could afford your rate). But what if there were a way to reach and serve more people, while freeing up your schedule and ensuring a regular flow of passive income?
That is… by strategically expanding your practice online, you can create passive income digital products and programs, reach and help more people solve their problems, and creatively automate a flow of new prospects to your higher end one-on-one and in-person coaching.
Just imagine waking up each day, and most days not having to watch the clock or chase prospects at networking events and Meetups. You could work from just about any place in the world, in any time zone, as long as you had an internet connection. You could have more control over your income, with an expanded range of products and programs that don't require your time once they've been created. That's the power of digital coaching and training products.
Time is Money
Your time is a premium. You've probably given this guidance to a client of yours… but have you thought about it for yourself? This notion is especially true if you've invested years building up your knowledge and you are a true expert in your niche. If most of your current income is derived from one-on-one work for your clients, be it a service, consulting, or coaching, it's time to start thinking outside the box and turning your knowledge into passive income programs.
Flip Everything To Earn Freedom
Once you get that going, you can flip everything around so that you earn most of your money passively. The benefit to you may be more passive income… but the added benefit to your clients is that you can now serve more of them – and you can serve many different people at different levels simultaneously. It all starts with your product funnel. Take a look at your product funnel and decide what types of products and services you can add that are passive in nature to the widest side, and at the most narrow point put “one-on-one” time.
Make One-on-one Time Exclusive
One-on-one time can mean, telephone, email, task based services, anything that you must do on an hourly basis directly for just one client at a time should be at or near the smallest part of the funnel. The easier it is to accomplish the higher up toward the wider part the service or product can go.
Your product funnel might look like this:
This is just a very basic outline. Your product funnel could be more elaborate or less. Creating a product funnel that helps as many different people in all the ways they'd want to consume your help should help inform what to include. So, you'll want to make sure that you've filled all the potential gaps in possible passive income programs such as eCourses, Udemy Courses, Podcasts, eBooks, Kindle Books, Affiliate Income, Advertising and more.
No matter what sort of niche you are part of, you can add all of these ideas to your product funnel. By doing so, you create more entry points into your funnel. The more places a lead can enter your funnel the more clients you'll have waiting for you to have free time to spend one-on-one time with them. The more people you have waiting, the higher your fees can climb. The higher your fees climb, the more freedom you'll have from time constraints.
Want to see how this can work for you? Sign up now for my free training, 5 Simple Steps to Creating Profitable Digital Products. This short video training will outline how to identify what your ideal clients want, and how to deliver it to them in the form of digital products and programs. You'll learn about 7 different popular digital product formats and how to quickly and easily create the ones that are best for your clients (and for you). Ready to get started with you digital product creation education? Register here via Facebook now!