Most new coaches spend almost their full time on getting interested prospects into their free sessions and converting them to paying clients.
And it all works well until you have sufficient time to take on motivated and hungry clients on 1:1. But what if they don’t bring the revenue you set as your objective?
There are four ways to go here. You can either:
- Increase the number of clients (until your time maxes out)
- Increase your price (until your prospects sign up with your competitor)
- Increase your client lifecycle value (get repeat clients) OR
- Leverage your income
All four ways are doable and might be the right strategy for you. If you aim for a small increase of revenue, go with any of the first three. If you however aim to play big, choose the 4th one.
Leverage – but what?
Well, it is all about leveraging your time (just imagine, freeing up more time for yourself to spend with your family, while earning more money!) AND leveraging your reach (supporting 10, 50 or 100 people at the same time).
Leverage – what not?
One thing leverage does NOT bring with itself – more work. It actually brings you more income, with the same amount (or less) work.
And if you come with the objection that it doesn’t fit into your business model, let me tell you, there are tons of ways how you could leverage your income, I am sure there is something that fits well with your model, too.
It can be group coaching, it could be membership site, it could be other virtual events, if you are thinking of just a simple leverage. You can also choose among fully automated product delivery options like e-books, e-courses or home study programs which you are setting up only once and will generate you income (and showcases your expertise) 7/7, 24/24 – even while you are asleep.
So, do you choose to work harder or smarter? Do you want to book more clients or leverage? It is all your choice…
P.S. If you completely see the benefits of leveraging your income, but just don’t know how to do it, join my Creating Programs Blueprint starting now! The Program guides you through the different forms and ways you can leverage your income and introduces you to various leveraged income stream models you can apply in your business straight away. Read more information here.