Sometimes coaches want to diversify and create multiple income streams. Other coaches consider diversifying their offerings as a way to develop professionally and expand their expertise. For many coaches diversifying is also a way to bring new clients into your coaching business.
For example, when you train, present, and/or speak, you start by tapping your knowledge base, expand with additional research, and enhance your skills by training or speaking on the topic. This creates an additional income opportunity, enhances and demonstrates expertise, plus becomes a way from more coaching clients to find you and ask about your coaching services.
Many consultants are finding that adding coaching to their portfolio of services makes sense both because of the demand and because of the results. Similarly, coaches are finding that in addition to offering coaching, when they create a package that includes both consulting and then coaching, clients are interested. Plus, offering consulting services is a demonstration of expertise so while coaching involves empowering the client to discover their own answers, the expertise can inform what questions to ask.
Similar examples include resume writing services for career coaches, nutritionist or personal training services for wellness coaches, shopping services for image coaches, group sessions for life coaches, assessments for executive coaches, and more. What other services do your clients want?
Publishing books, articles, and programs related to the type of coaching you do provides valuable resources to clients, demonstrates expertise, and creates a source of passive income. As an example, graduates from the Center for Coaching Certification have an opportunity to be a published author in a book they put out once a year. Reflect on what resources your clients what and how they find them. How can you meet that demand by creating and offering resources they want?
Related products will vary based on the type of coaching you provide. For example, business coaches can offer business planning and management tools. Wellness coaches my also provide healthcare or fitness products. Executive Coaches offer assessments. Get creative and source or create the products your clients seek and use.