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||$2720||$16,320|
|Course 1: Core Temperament Communication||4-week course and group coaching for 20 people @ $150||$3000 Offer 2x in 6 months||$6000|
|Course 2: Emotional Skills in Relationships||4-week course and coaching support for couples.10 couples @ $500 each||$5000 Offer once every 6 months.||$5000|
|One-day Live Training in Relationships||For 10 couples @ $897 per couple.||$8970 Offer once every 6 months||$8970|
|Teleseminars||2 teleseminars per month @ $20.00--40 people per month||$4800||$4800|