This week we are continuing our series on passive income models and are looking at coaching as a way to earn recurring income. Last week, we left off with running a Specialty Forum as a method of earning passive income. Go here to read it.
Offering coaching is something else you may consider after you’ve been in business for a while. Coaching comes natural in some business models. For example, as a Virtual Assistant, I often have consultation sessions with current clients, as well as potential clients.
However, I’ve been in business for 10 years and am knowledgeable about my service offerings. My consultation sessions generally end up coaching the clients as to which internet service they need in order to accomplish their business goals.
Methods of Coaching
There are various ways to offer coaching:
- Coaching packages – Clients retain your services for a set number of hours per month; which, in turn, guarantees them that amount of time per month, as well as guarantees you a steady flow of income.
- Coaching newsletter subscriptions – You can offer high-quality, valuable content that can’t be found anywhere else and is not available to the general public.
- Coaching exclusive closed groups – This is a replica of a membership site. The group would be small and receive more of your individualized attention, as well as a few perks. This group could be a spin off of your membership site. Go here to read our post on operating a membership site.
If coaching is not your core business, do you find yourself coaching your clients anyway? If yes, have you considered adding coaching to your current service offerings as a method of earning recurring income? Join the discussion by commenting below.
Come back next week when we wrap up our series on passive income business models. As always thanks for reading!