If you're only going to pick one, the additional income stream I've seen work the best for lifestyle entrepreneurs is an online course. Actually, what I've seen work best is the entrepreneur who has multiple courses for sale, but that conversation is for another day.
But remember, one course at a time and keep it simple. One problem, one solution!
I also recommend that if you've never created a course before, it's a great idea to create a mini course first, free or paid. You could use a free mini course as an opt-in to grow your email list, or you could create a paid mini course (under $100) that can be sold directly on your website as an introductory offer.
You could then invite your mini course students to a higher end offer, like your signature coaching package. Your course would also be a great signup bonus gift for your one-to-one clients, if it's about the same general topic.
Benefits of AN ONLINE COURSE
1. Increase your bottom line profits. This is the most obvious benefit but certainly worth mentioning because who doesn’t want to earn more revenue? If you created a for-profit business, extra ways to earn income are always welcomed.
As you well know, limiting your business to 1:1 coaching can limit your income potential, making additional streams of income, like online courses, even more important when your coaching calendar is filled to capacity.
2. Regain time in your day. Hold up…I know creating products and other streams of income takes time but jump ahead and think about the back end of the process. When your course (or any other income stream) is completely set up and the upfront work is done, then you can focus your efforts toward a marketing plan that brings in sales.
With a consistent, strong marketing plan, you can easily earn money with this income streams without much effort, even while you sleep. This means you can take time off and live your life!
3. Increase your credibility by helping more people. Think of an online course as a way to share your expertise with an ever-expanding audience. You can leverage your knowledge and showcase your zone of genius by inviting people into your course. Thus, expanding your reach to more and more people, networking online and off, and providing guidance through your courses.
This will lead to increased sales and an army of people who rave about your work.
Planning Your ONLINE COURSE
Now that I’ve sold you on the benefits of having an online course, it’s time to plan out the content. Use your creativity to think of an idea that’s different from what other's in your market have put together AND that will also appeal to your ideal soulmate customers.
Make a list of course ideas because we'll be diving in deeper in tomorrow's article.
Please share in the Facebook group what you've learned about yourself and your business. I will be in the Facebook group every day to answer your questions and support your growth.
Till tomorrow,
Be brilliant.
Be imperfect.
And always, be you.
Melissa