As a coach, you’re probably billing around $100 to $200 an hour for your sessions. That’s not bad at all! However, the problem is you’re limited to the number of hours you put in. There are only 24 hours in a day and most likely you’re not working all 24, not to mention if you get sick or take a vacation.
The most successful coaches rely on more than just the sessions. They also create and sell products. These include books, eBooks, workbooks, tip sheets, audio podcasts, DVDs, membership sites, courses/lessons, vision boards, and/or tools (i.e. goal setting and tracking tools, evaluation tools, and self-awareness exercises). The sky’s the limit to what types of products you can create.
Unfortunately though, many are resistant to product creation because they’re overwhelmed. If you’re such a coach, I’m here to tell you…creating your own product is not as hard as you think. In fact, not only is it easy, but it can cost little to nothing.
First thing you should consider is what problem do you plan to solve? To figure this out, identify your target market. Then, ask yourself what type of problems do they face? Why would they need a coach? Create a product that will help them resolve this problem. For instance, present step by step tactics to accomplish a particular goal.
Next, establish how you’re going to communicate your solution. Are you going to write a book on it? Create an audio version of your method? Offer a video of yourself presenting the steps? Perhaps some sort of combination? A few ideas include:
Ebooks – One of the easiest and quickest products you can create is an EBook. All you have to do is write it on something like Microsoft Word or iWork and save it as a PDF file or upload it to a third party site like LuLu.com. If you choose the PDF file, you will also need a shopping cart which you can set up via PayPal. Purchases can be made and you can either email the file manually or set up a system on your website where buyers are automatically directed it. But, if you ask me…I think using such sites as Lulu.com will be easier. Grant it, a small portion of each purchase will go back to Lulu.com for using their services, but, there are no up-front fees and it’s nice how they take care of it all. Via Lulu, your book can even distribute through Amazon. Similarly, you can create your tools and vision boards using this strategy.
Books – If you can create an eBook, you can create a book. With sites such as Lulu.com, you have the opportunity to become a published author. You upload your work onto their website and select your preference on size, hard/soft cover, color/black & white, etc. While a small percentage of the revenue will go back to Lulu.com, there are no upfront fees, you hold control of your work, and your book can distribute on such sites as Barnes & Noble and Amazon.com.
Audio Books – If you’ve written a book, why not create an audio of it? Record yourself reading and edit it with such a free software as Audacity.
Videos – If you’re intimidated by speaking in front of a camera, you can place a funny picture of someone behind the camera and act as if you’re talking to them. You’ll feel more comfortable and can maintain natural eye contact. If you don’t want to use your own face, you can go the screen capture route with such software as CamStudio for Windows or Screenflow with Mac.
Seminars/Webinars – Seminars and webinars are informative and a great opportunity to build a client coach relationship as well as increase your credibility. Your personality can shine and further increase your brand image. You can even create multiple products. In addition to the seminar/webinar itself, you can create a DVD/recording, a typed transcript, tools, and supplemental information.
Trust me, it really isn’t too hard to create products for your coaching practice and the profit margins are huge. So why not take advantage of it? For instance, identify what problem you’re going to solve and write an outline on how your method solves it. Write down each step necessary to get from point A to point B.
Once you have the bones, fill in the details. Finally, edit and create your product (i.e. via uploading it on Lulu.com). If you have any questions, shoot me an email to LBrown@ConsciousStrategies.com.
Good Luck and Happy Profit Increasing!