Get the full show notes at http://impactdrivenentrepreneur.com/how-to-monetize-your-content/
There are so many ways that you can monetize and this can be overwhelming to entrepreneurs. This post was inspired by Sarah in the private Facebook Community Entrepreneurial Moms who was working on researching the various ways she could monetize her blog and wanted the one that would make her the most money.
I will be talking about the Thrive Business Model Training that I did with my private coaching clients last December. This never before released private training is your for free just click here.
Why Choose only one way to monetize?
When I started my business I tried a few ways to monetize and what took off for me was 1:1 coaching. It made sense to me because I have a background in psychology and nursing and I loved the 1:1 relationships that my previous career allowed me to create, I also learned some very helpful counseling skills in that line of work.
After only a few months, my coaching practice began to get overly full and I wanted to continue to increase my income and also I wanted to decrease my work hours. So I added passive income streams into my business through courses after this interview that I did with Laura Brandenburg it allowed for me to think creatively about what I might be able to offer that would be helpful to people who were not my 1:1 clients.
One of the biggest lessons was that what will be very valuable to somebody else is probably something you already use and you likely use it every day. This single phrase she said allowed me to think creatively at what I was trying to offer as a course. I had tried to sell other courses but they were these big huge courses that were not very practical. This allowed me to see that the consistently visible system that I used with every single one of my 1:1 clients is what I would turn into a course.
This new way of looking at course creation coupled with a strong launch plan that I learned from my mentor James Wedmore, allowed me to create a passive income course that was selling one per day passively for about a month and start to really create passive income in my business.
An Insurance Policy Your Income When you build out multiple streams of income if one of these income streams breaks or somehow decreases you can fall back on the others. When I was focused only on coaching and I felt overwhelmed and burnt out- like I didn't have another option. This put a lot of pressure on me to sell my 1:1 packages making sales even harder than it needed to be.
I have also seen this with almost every mom I have ever coached, there comes a point where your mind starts to sabotage your efforts to get clients because you simply know you don't have that much bandwidth to support another person.
Think About Repeat Customers
Having multiple ways that you serve somebody will allow you to get repeat customers and some of those people will buy multiple products from you multiple programs.
Example: You offer a course, an affiliate product, and private coaching.
Someone might start off with you purchasing the course, the see your affiliate promotion and get that too because it will help them to do the thing your course taught. After a few months. they think "Wow that course was awesome I wonder what it would be like to work with her privately" and then they buy your private coaching.
When y
