Coaches’ Income Streams

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.

plan income 

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

Income Stream

Frequency

Monthly Income

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
Total     $41,090.00

 

 

Relationship Coaching Tool – High Impact Questions – Free Download

 Opening the space for a client to stop, reflect, and then respond can unveil bonus information—new possibilities may appear. It's a good thing.

 Michaleen (Micki) Lewis, MS, PCC, CPLP

 What Does High Impact Mean?

Relationship coaching offers insights into broader issues. Clients see with new eyes where they were stuck or how they created a problematic situation.  To dive deeper requires questions that have a high impact...and elicit the ah-ha that the client needs to know.

According to New Oxford's Dictionary, high impact means...

--impressive, bold, compelling, effective; punchy; forceful, powerful, high-powered, potent, hard-hitting; intensive, energetic, dynamic

High impact questions make a person think more deeply about an issue.

Closed-ended questions result in a yes or no and often don't get any deeper than that.

Open-ended questions can solve problems, and they may also generate a list of options or ideas.

High impact questions get the client out of a set way of thinking. When a relationship coach uses a high impact questions, it focuses the client in the present, the here and now.  You present problems to a client with an urgency that leads them to take action.

The Elements of a High Impact Question

The elements that lend impact to a question are:

  • It's direct and straightforward, dealing in reality instead of speculation
  • It encourages creative thinking and thinking at a deeper level
  • It promotes self-reflection

High impact questions move a client closer to attaining a goal or solving a problem. Your client gets things done by dealing not in 'why,' but in 'what' and 'how.'

Download Here

Which One Do You Choose?

You can take any question and turn it into a high impact question by wording it differently.  Imagine, for example, if you'd like to ask your client, 'What tasks would you like to outsource in your business?' An alternative high impact question that asks essentially the same thing would be, 'If you could pick just one task to outsource in your business today, what would it be?'

In the original question, you're asking something in the realm of imagination and ideas. The 'would like' of the question places it in the abstract. What you're doing with the second question is asking them to make a clear decision – which one would they outsource? You also put a time marker on it by asking them which they'd choose today. It becomes more urgent and real, and the answer leads directly to an action step – outsourcing that task. Such a priority question is used for to get valid answers. The right wording forces a person to choose one top priority, and that's the first step of taking action when you have many options.

Picture Yourself…

Here's another example. Instead of asking your client, 'What would you like to be doing in ten years?' ask them instead, 'Imagine that it's ten years from now. What do your life and business look like on a day to day basis?'  Even though we're using our imagination and picturing the future, you make it more real and immediate by saying 'what does it look like,' as if you were living it right now. This is more likely to produce answers that are clear and specific. Instead of saying, 'I'd be happy and successful,' they may say something like, 'I don't spend any time creating my own content because I have a writer who does that.' They've just defined a goal – finding and hiring a good writer for their content creation.

Part 2 – Listening

Turning regular questions into high impact questions that elicit clear actionable answers is only the first step. As a coach, you also need to listen to their response carefully and use it to guide them toward action steps.  The whole point of high impact questions is to get them into the zone of thinking more deeply about their problems and challenges.

Here is a free coaching tool which provides a relationship coach and client worksheet as well as a list of high impact questions to give you examples of focusing your client's breakthrough.

High Impact Questions