Ever thought about selling something in your coaching business which isn’t 1:1 coaching? Love the idea of creating passive income in your coaching business but aren’t sure where to start?
If so, this is for you!
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What is passive income?
So for anyone who’s not sure what passive income actually is, if you think about 1:1 coaching the number of clients you can take on is limited by the number of hours you have available because you have to physically deliver those sessions.
We all have a maximum of seven days a week, 24 hours a day and this limits the income we can make via 1:1 (outside of increasing our prices).
With passive income, you spend time creating the product and then after that it can sell on auto pilot with very little effort required from you to deliver it. You could sell it multiple times over yet the time involved in delivering it stays the same.
Semi passive income is more like group programs or live rounds of courses where you do have to get involved in the delivery but you can serve more than one person at a time.
Something to bear in mind however is that nothing is completely passive because you’ll always need to be doing the marketing required to get people in front of the product in order to sell it!
Today, since we’re looking at simple passive income we’re going to focus on the options that require little effort to deliver once they’re up and running.
Here are 6 different passive income ideas you could create in your coaching business:
Printables or templates
Printables or templates are highly actionable products that your customers or clients can use. For example a meal planner, habit tracker or some kind of planning template. You could create printable quotes or journals, there’s so many options!
They can be easy to create and sell digitally as downloads that people use and print themselves.
A video series can be really simple to record and sell. Just get your webcam on, plan your content and record!
Consider how you can help people create some kind of outcome in their life that you support them with or teach them to do via a short series of videos.
You might want to lightly edit them, however I’ve recorded videos for courses for years without any major editing and they’ve worked well.
Just think about how each video might work together as a series and go and create them!
I’m sure we’re all familiar with the concept of an ebook! They can be easy to create as a PDF or even in a format that you could sell on Amazon. But since this post is all about keeping it simple let’s focus on the PDF version.
Think about how you can help people achieve an outcome, solve a problem or educate them around a topic via your ebook.
You could even repurpose other content you’ve written such as blog posts and articles to form part of your ebook content.
Email based course
This is such an easy way to create something that can help people and it’s so simple!
You create written content (you could also link to PDF resources or videos etc) and the whole course is delivered via email which you set up to automatically send to people via your email list provider such as Convertkit or Mailerlite.
I purchased a course a little while ago which was all email based and it was so easy to access and action because it was right there in your inbox.
Bundle of PDF resources
Another super simple thing you could sell is a bundle of PDF resources. This might include a mix of e-books or printables and templates as we’ve already mentioned, but it could include any kind of resource that you deliver in a written format which has been saved as a PDF. Bonus points if it’s well designed.
I sold a bundle of PDF’s I had previously created for my first group program Fabulous You and it worked really well!
The final super simple idea is to create an audio collection – maybe this is recorded meditations or something else where you talk people through something that is going to help them. The added benefit of audio is that it can be really accessible for people and they can listen podcast style while they’re doing other things.
Again, think about what you can help people with via your audio content, is it educational, inspirational, what’s the specific outcome going to be for them?
Making it (really) easy
Obviously there’s loads of ways to make passive income and these are just 6 tiny ideas but for me, these are the simplest places to start.
Remember that you don’t have to create everything from scratch. You’ve probably got free content you’ve created that can be used as a starting point or videos that you’ve done somewhere else which you can repurpose or re-record with new information added to them.
Just think about stuff that you might already have in your business and what else you can add in to someone who is paying you is getting an additional outcome or new / fresh information.
You don’t have to have a community
To make these products as passive as possible remember that you don’t have to include a community like a Facebook group as that’s an extra thing to manage.
Make sure that whatever you’re offering is created and structured in a way that it doesn’t need the community element and that they can get what they need out of the product itself.
Or, you could create a bigger more general Facebook group that is open or restricted to clients and customers only (which is what I have) and then it’s not a single community to manage just for that product.
Easy and inexpensive systems
Make the tech elements as simple and inexpensive as possible. One of the mistakes people make in online business is they invest in something like Teachable or Kajabi which can be quite expensive early on in their business and they can be quite a big expense when you’re just starting out.
The good news is you don’t need a platform such as that to sell your stuff. When you’re in the early days of your business, and even if you’re further on, I think there’s a lot of benefits for keeping your tech stack simple and inexpensive.
Don’t spend loads of time on it
Another mistake people make (and I include myself in this!) is they spend a lot of time creating an online course but haven’t yet built up the community or audience to make that thing profitable.
As someone who has loads of ideas and is quite multi-passionate it can be easy to get swept up in the excitement of creating new things, but when we spend ages on it and it’s not going to be profitable from the outset that might just not make good business sense.
However, even if you haven’t got a big community or audience (remember that ‘big’ is very much a relative term!) I still think that creating passive income products is a good idea and that’s why I suggest looking at these super simple and easy to create ideas so you’re not investing too much time and money into them.
When we have a smaller passive income product, it gives people an option for working with us that isn’t a £2k coaching package for example. And once someone has purchased something from you that relationship has changed.
Equipment doesn’t have to be scary
Something that can put people off creating these products is perfectionism and not having the ideal equipment to create things. However, it really doesn’t have to be pro level to help people. If you’re charging £100 / $100 and under I don’t think people are expecting videos with professional quality production.
I managed with a standard webcam and my apple headphones with mic for a long time and while I would always suggest if you do have the budget it can be useful to invest in better tech, there’s no reason why you can’t start with what you have.
If this has been helpful and has given you loads of ideas about what you could create in your own business then do check out my new mini course Super Simple Passive Income which will teach you several low tech ways of creating, selling and delivering your own passive income products in your business.
As always if you’ve found this blog post helpful please do leave me a comment below! What passive income product are you going to create in your coaching business?
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