117: How To Stop Trading Time For Money

A traditional business model for coaches and solopreneurs is to charge hourly for their coaching sessions. We’re all trained to think that way, from the time we get our first jobs as teens at a fast food joint and it’s an easy mentality to carry with us through adulthood. But if you hold onto that pattern, you’ll soon realize that you’ve created a finite ceiling to how much you can make as there are only so many hours in each day. And realistically, you won’t be coaching for 10 straight hours; you’ll need breaks in between and prep time for each client. So, instead of relying solely on individual coaching clients, it’s time to look at alternate streams of income that can supplement your coaching income. 1. Create group coaching programs 2. Create a signature product 3. Create low and mid-priced products 4. Publish a book 5. Embrace affiliate marketing Each of these tips can assist in getting you out of that “dollars for hours” mentality but you don’t have to delve into all of them at the same time. Take them one at a time, especially the affiliate marketing because that will require some product research. Finally, take note of the ones that bring in the most revenue so you can narrow your focus on what works with your audience. If you're looking for support with creating income from your passion and you would love to see how we can lock arms and make it happen sign up for a FREE discovery call here: Calendly.com/nicolyawilliams