5 Reasons Service-Providers and Coaches Need a Passive Income Stream

Have you heard the phrase, “Make money while you sleep”? It’s a common phrase thrown around the internet marketing world that describes the power of having a passive income stream:

Make a product one time but reap the rewards for years to come!

How to create a passive income stream: woman smiling while sitting with laptop with pink stickers on wall behind her.

Passive income can benefit absolutely everyone, no matter what type of business you have or what type of coach you are.

The key is to make the product creation as simple and as inexpensive as possible. This doesn’t mean your product will be cheap; it means you should focus on your area of expertise and solve a common problem among your audience.

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Why coaches and service-providers need info-products:

1. Supplement your income when a client cancels their contract. No one wants to think about losing a client (or two!) but it happens.

Instead of panicking at the idea of finding a new client to fill that space, you can approach the task calmly, knowing you have passive income to fill that gap temporarily.

2. Expand your name recognition and attract new buyers from your target audience.

The world is a big place and you always have the opportunity to reach new people in your target audience.

Using your products as a giveaway or pricing it on the low end will entice these newcomers to learn more about you and your coaching practices.

3. Attract speaking or media engagements.

Event organizers and reporters are constantly searching online for speakers or interview subjects.

If you have products as part of your business and have a consistent marketing plan, the media will likely find you faster in their online searches.

Adding these events to your media profile will immediately elevate your authority level, too.

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4. Lead your prospects through a sales funnel, ultimately leading them to your more expensive coaching packages.

A sales funnel is a must-have for coaches because people want to know about your practices prior to paying hundreds or thousands of dollars on a coaching package.

Showcase your expertise with smaller, more inexpensive products first, then entice those buyers with your higher-priced packages.

5. Use products as part of your overall marketing plan. When you have products, you can run promotions that garner lots of attention on social media.

Offer a freebie, a bonus if they buy a coaching package, or offer a chapter of your ebook as a teaser to entice them to buy. Unique promotions will attract attention from new prospects in your target market.

Get help creating your passive income stream

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I’ll share tips on how to create them, how to price them, and how to know WHAT your audience actually wants. Get all the resources by clicking this link here.

Get ready to create a passive income stream to boost your revenue to new heights!

Ebook bundle on how to create a passive income stream for coaches and service-providers.