Stop feeling crushed by keeping your business afloat and getting paid for the hours you put in each day.
Passive income is a dream for many entrepreneurs, and if you're a coach, it's a viable avenue to explore. While coaching primarily involves exchanging time for money, there are clever ways to create passive income streams within your coaching business. In this blog post, we'll delve into effective strategies and valuable tips to help you generate passive income while making a meaningful impact on your clients' lives.
What is passive income?
Passive income is a means of generating income for your business without you becoming involved. You can think of it as making money whilst you sleep!
The benefits of passive income are:
Recurring income that flows into your bank account like clockwork – regardless of how many clients you have
Having more time to spend doing what you want to do (instead of what your business and clients demand)
Drastically increasing your income and having the financial power to live the lifestyle you want
Generating passive income
There are two key tenets of deriving passive income:
Creating a recurring revenue model for your business which you can scale.
Removing your time from the marginal cost of this revenue model
There are different business models that achieve these requirements, including affiliate marketing, e-books, content licensing and membership driven community sites.
All of these are great ways in which you can create passive income, however one of the most scalable and profitable strategies you should consider is to create your own subscription driven mobile app.
Imagine if you were able to deliver your coaching program to new clients *without* you being actively involved? What if you can do that without the marginal cost of hiring anyone else, and leverage massively scalable distribution channels such as web, social media and app stores?
Download our guide
Using platforms like Smorg will allow you convert your coaching program into an App, which you can then sell to clients on the web, social media and app stores.
And with our comprehensive strategy guide, we show you the steps you need to take to create profitable, scalable and passive income streams for your coaching business! Our guide include the following sections:
How to define your goals
Find your niche
Automating your programs with Smorg
Creating and optimising your product funnel
Customer acquisition strategies
Retaining your customers
If you would like a copy, please click the button below (or click this) and when you fill out the form, in the last box just type in "I want the guide" and we'll send that to you over email.