Because clients typically work with a coach for six to twelve months, a coach realizes that a sustainable client base is based on consistent marketing, results, and reputation. After a coach has built a client base and developed their reputation, the next focus is on sustainable, diversified income streams.
Options for additional income streams tied to coaching include:
* Occasional sessions for previous clients
* Group coaching
* Audio or video products
* Books, E-books, White Papers, Documents, and Articles
* Training programs or materials
* Monetize blogs or websites
* Affiliate marketing
The added value with these options includes improved service, enhanced credibility, earning while connecting with new clients, products that add value for clients, and passive income.
The earning potential of a coach is based on their ability to obtain and do their work. Because coaches are often self-employed, many realize it makes sense to have diversified streams of income and that passive income is an opportunity to continue earning during time off.
For a coach, diversifying income streams begins with exploring their own goals, considering the options, choosing their priorities, creating a plan of action, and following through – yes, just like the process for their clients.
One example of a way coaches get started on this process is the cooperative book effort by coaches trained at the Center for Coaching Certification. Each Certified Professional Coach writes a chapter. The coaches work together to edit, proof, and preview the chapters so each benefits from the input and the collaboration. The Center for Coaching Certification then handles the final proofing, formatting, and self-publishing. The coaches learn from the experience which supports their future writing goals. The expertise of the coaches is demonstrated and credibility enhanced. Colleagues and clients alike benefit from the information the coaches provide.