Once you have established yourself as an authority in your niche, offer coaching services to expand your business. I do not recommend this when you are new to Internet marketing. You need credibility and authority to command the prices that you would want to charge for coaching. However, when you reach the point that you can offer it successfully, it can become the golden key to success for your clients and for you.
When most people think of coaching, one-on-one private coaching usually jumps to mind; however, you are not limited to that model. Put on your creative thinking cap and consider how other styles of coaching would fit your personality and lifestyle and still offer exclusive, enriching information to your clients.
There are a number of models to explore:
- Private One-on-One Coaching – This is the basic model that you can implement – if you have the time and can command the price in order to make it worth your while. Since this model is fairly self-explanatory, I am not going to spend more time on it in this post.
- Exclusive Group Coaching – This is done in small, closed groups. You will usually find this model offered through membership or specialty forum sites, but the groups are not open to all members. They can be organized by invitation only – sent to a small, select number of top students or clients. Or – people can graduate to them if they have reached a certain level of development or completed specified training courses. Or – they are simply willing to pay the price. Try groups of varying size and exclusivity to find which works best for you. Remember – the larger the group, the lower the price, and vice versa. Exclusivity and individualized attention can command higher prices
- Coaching Packages – These can be individual packages or group packages that include a set number of sessions at weekly (or bi-weekly) intervals over two or three months. With a package the participants are guaranteed a set number of hours of in-depth coaching and personal attention; plus, you (the coach) are guaranteed a nice monthly recurring income for as long as the sessions last. These packages are an excellent way to graduate dedicated members to more individualized support. Pay attention – especially to members who are frustrated and complain about the need for more information and interaction. Change the gripers and complainers into avid fans by inviting them into an “insider’s coaching group.”
- Exclusive Coaching Newsletter Subscriptions – Through this publication, you share high-value, in-depth content not available to the general public. The information can be about developing a process, implementing a system, tips, ideas, guidelines, lessons learned from your own experience, etc. DO NOT share information that can be found through a typical internet search. I know that should be obvious, but I needed to say it.
[box type=”alert” style=”rounded” border=”full”]Important Note: Coaching can be very lucrative – but do not offer this service unless you have the credentials and authority to back it up. Both of these can come from your professional background, licenses, certifications, and even extensive life experience. Generally speaking, the more established you are in your niche; plus, the higher your visibility and perceived value, the more you can command in coaching fees. Be ethical! Do not promise what you cannot deliver.[/box]
There are only two more models of passive income to consider and then we will move on to Section 4 – Marketing Strategies.
Want all of the information? Begin at the beginning: Building an Online Business.
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