Coaches's income streams takes planning premium content in varied formats and specific marketing sources to insure that you meet your income goals.
Setting Realistic Goals for Multiple Income Streams
Coaches are interpersonal helpers and need emotional and financial security. Most coaches I've met are not financially savvy people, but willing to learn and gain the financial planning skills.
So I ask, "How much do you want to earn?"
"Well," the coach responds,"I guess it depends on what clients are willing to pay?"
"Wrong. It depends on what you want to earn? Let's start planning what you want to earn."
To make an annual income of $40, 000 you would spend 18 hours a week working one-to-one with clients.
Add five hours a week to consistently market your coaching practice, and you have 23 hours total of your work week.
Most likely you would have no more hours available if you have other people in your life who need you. You also have to consider your fatigue factor, burnout rate, or your ability to be inspiring all the time.
At ACPI, we encourage you to be more creative and find more fun ways to engage your clients. All of the ways you engage your clients in exchange for their investments are multiple income streams. Stop trading your valuable time for money and see below this sample of multiple income streams.
Go For The Larger Income Model From the Beginning
Why we at ACPI suggest that you began with larger income goals is to inspire your ideas and to motivate you to create a true business vision. Then through planning your Relationship Coaching business financial goals, you can initiate a six-month or twelve month plan to offer ready made courses, group coaching, training in emotional competence skills, as well as information products. ACPI provides these courses for you.
Many coaches start by pricing their services lower to attract more clients. Then when they are busy and their time is scheduled, they have no choice but to increase those hourly fees and risk losing those clients who are paying already. Why not focus on clients who have the ability to pay for your services up front and recognize the value you provide.
Few coaches, who come from helping professions to ACPI, have set income goals and actually brainstormed on how to achieve that.
The multiple income streams below have a targeted number of clients drawn to what you offer in a variety of courses, teleseminars, private coaching, or live trainings. You can see that even with minimal training, your ability to earn income can include any activities you like to provide.
Otherwise without offering what you are passionate about, you are more likely to burn out and be overwhelmed. So see what is possible below. Use this sample income stream chart to plan your own Relationship Coaching journey.
Planning Income Example
6 Month income projection
|One hour coaching for 8-weeks
||One hour @ $85.00/4 weeks x 8 clients
|Course 1: Core Temperament Communication
||4-week course and group coaching for 20 people @ $150
||$3000 Offer 2x in 6 months
|Course 2: Emotional Skills in Relationships
||4-week course and coaching support for couples.10 couples @ $500 each
||$5000 Offer once every 6 months.
|One-day Live Training in Relationships
||For 10 couples @ $897 per couple.
||$8970 Offer once every 6 months
|| 2 teleseminars per month @ $20.00--40 people per month
As a savvy certified parent coach, you need more marketing strategies to boost your coaching business. The Business Training provides the basics, all of which are your first touchpoints for your clients:
- Website? Check
- Great sales copy? Check.
- A variety of available products? Check.
You have the basics of a coaching business, but what do you do next to drive traffic and insure clients?. Marketing strategies enhance your success. Maybe you don’t know where to begin, or perhaps you’re afraid of putting yourself out there, or maybe consistency is your biggest problem. Listen to woman who thought she could do tasks more consistently, but life just keeps happening. Sound like you too?
Whatever the case, if you want to grow your engagement and successful business, you must master marketing. Start with these proven strategies, and you’ll be well on your way to coaching stardom.
Nail Your Brand
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Here’s the single most important part of any marketing plan for a coaching business—and one of the most difficult to pin down. Branding more than just a logo and the colors on your site. It’s not about your font choices or your “voice.” But it IS about all of those things and more.
Branding a coaching business encompasses everything from who you are to who is your ideal client. A reliable brand will instantly identify you no matter where you are. The way you write and speak and the language you use will resonate only with your ideal client. Your personal style will shine through, and make it impossible for anyone to mistake your content, graphics, ads and other materials for anyone else's.[emaillocker id="34169"] Download This Ebook[/emaillocker]
Host Free Webinars
Before a potential client becomes a paying customer, they must
- Know who you are
- Like what you do or offer
- Trust your authenticity and genuineness.
Solid branding, helps establish credibility, but one of the fastest methods is creating and hosting free webinars.
- Your ability to build rapport.
- Your presentation skills as the capacity to communicate clearly.
- Your ability to provide and discuss actionable steps with genuinely interesting content.
Attendees will know in just a short time that you do know what you're talking about, and they'll want to learn more from you. Not only that, but live webinars give you the opportunity to show off your personality, but be very deliberate in telling potential clients how you can help them
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Make Good Use of Paid Traffic:
How will you entice people to register for your event, coaching business webinar, or blog article? Through your website and newsletter, of course, but those are people who already know you.
If you're looking to grow your reach, then it's time to break into paid advertising.
Facebook is one of the easiest and most cost effective advertising networks. Not only does it have incredible reach (nearly everyone has a Facebook account) but it also allows you to narrowly target your market so that you can reach your perfect customer.
When you create and post a Facebook ad, you have the option of also advertising on Instagram. One ad and two positions on social media. Add a retargeting component, and you'll find that paid traffic is quite cost effective.
You don’t have to have a degree in marketing to make it as a coach, but you do have to take steps to get in front of your audience. Start with the basics, and build from there, and soon your coaching practice will grow and thrive.
Five Years From Now?
It is important to have a vision of your future when you design your parent coach business plan and marketing strategy as a parent coach. Here is a checklist to spark innovative thoughts for your business.
- How big do you want your business to grow?
- How much time can you devote to it now, and five years from now?
- What hours of the day do you want to work now, and once your business is going?
- Are you going to take phone calls all hours of the day and night?
- Are you going to take evening clients? In parent coaching, many clients will want evening or weekend appointments. Can you accommodate them?
- What hours do you want to relax with your family?
Take the time to write down a schedule of your ideal week, including time for relaxation and taking care of your health. Whether you are single or married, whether your children are in college or are toddlers, come up with a personalized design that allows you to meet your family obligations and your own needs to relax and grow as a person.
If your best moments come when you are in nature, plan your week so you have that time to spend in nature and to reconnect with yourself. Don’t let go of what most satisfies your own soul because of business obligations.
As a coach to families, people regard you as a role model. You have to model a healthy integration of work and family for your clients. If you don’t succeed, how can you expect help others succeed?
In the beginning being a parent coach you will focus primary energy into marketing and networking, which are usually unpaid tasks to build into your business plan.
Fill your heart and mind with optimism as you network and market your parent coaching practice. Your positive attitude and caring are what attract people to work with a parent coach. The image you reflect when you show up is much more important than any piece of sheepskin.
When small businesses fail, it is usually because of lack of planning and design. When you create your coaching business, be sure you have realistic expectations about how much time you can devote to it now and in the future. Develop a schedule for today and five years from now. If you work out of your house, build clear separations between your personal life and your business. Do this by only working certain hours, shutting the business down regularly for personal time, and by having a work place clearly separate from your living area.
Now if you are looking right ahead into the future, it’s now the time to take step toward that goal or desired future. If you are not a parent coaching already, look into our certifications for parent coaching but if you are already a parent coach and you are looking for someone to show you all the steps to make your coaching business successful, signup for our course Successful Business Set-up in systemized steps to skyrocket your startup today.
Successful Business Set-up in systemized steps
certifications for parent coaching