If your only source of income is 1:1 coaching, do you have a j.o.b. (trading hours for dollars) or do you have a business?
No problem if you want to stay that way, but I’m just sayin’, you are not leveraging your knowledge, your time and your effort to play a bigger game, reach a wider audience, serve more people, and yes, make more money along the way.
Imagine you can…
- Make money while you are not working – imagine when you wake up in the morning, or finish your yoga practice, even before you start your work day, you are already getting paid. Your ability to generate income is no longer solely dependent upon your “in-person, real time” availability.
- Stop putting so many stakes on your discovery sessions with potential clients because private coaching is your only income stream – that’s not good for your sanity! By having alternatives, you can have potential clients keep engaging with you even if they are not ready for your private coaching programs – you can give them something they can use to support their efforts, get a taste of your work and engage your higher-end services when they are ready.
- Create an alternative entry point for your potential clients to enter into your world – some people are not ready to put down $1000+ dollars for a coaching program without first knowing you and your approach – and that’s reasonable. Creating a product at a lower-ticket price can train your prospects to start buying from you, and opening your email (in which you promote your other services).
- Fill gaps that are currently present in your business model, and capture more customers at different price points – some people may only be able to afford $50 for your products today, but if you build a relationship with them, they may spend $1000+ on your coaching program one day. Remember, those who have bought from you are 40% more likely to buy from you again.
- Grow a high-quality list with a low-ticket item – you can create a special report and sell it for a few dollars, and in the process build a list of followers who are not signing up just for a freebie. They went through the trouble of pulling out the credit card and filling out the form to get your product, which means they are probably interested in what you have to offer and are more likely to buy from you again. You can create a sub-list of these folks, and start building a special relationship with them (e.g. they get perks, discounts and first dibs on your products and services).
- Enhance your expert status – most potential customers view people who have written something on a topic the expert in that area.
- Reach more people – you can help more people with your knowledge in this one-to-many model.
- Boost Your 1:1 rate – by filling out the lower price point offerings in your business model with products and group programs, you can increase the perceived value of your 1:1 coaching services. Moreover, you are positioning yourself as an expert, and people pay more for experts.
The idea of creating a product or program can be intimidating at first, but If you have ever written some articles, blog posts or materials for your coaching programs; or you have done research in your area of expertise and accumulated a good body of knowledge; and you haven’t leveraged the materials to create an information product – you are leaving money on the table!
This 20 Tips to Successful Product/Program Creation will give you the creative sparks you need to get started… tips include:
- How to pick a winning topic for your program or info product
- How to gather content for your product without starting from scratch every time
- How to select a format that is win-win for you and your audience
- How to make a product or program an integral part of your business and pricing model
- How to boost the value of your offering without piling on more content
For just $19, you will be opening the door to more freedom & flexibility in your life
by successfully incorporating products & programs in your biz!