I have met many different coaches - life coaches, career coaches, business coaches and many others, who think that the only way to make money with coaching is by providing one-on-one coaching services to their clients.

This is not true - there are many different ways to make money with your coaching services. The key to increasing your coaching revenues is creating information products that will add thousands of dollars to your bottom line, without increasing the amount of time you spend working.

Here are the different products and services that you can offer your clients:

- One-on-One Coaching Services. This is definitely the most popular way for coaches to make money with their coaching practice. Offering one-on-one services is usually the very first money-making thing that a coach does, and coaches continue doing this for a long time.

Offering one-on-one services will definitely brings in more revenue for your coaching business.

- Group Coaching is another great way to make money with your coaching business. When you do group coaching, both you and your group members get a ton of benefits. You get to work with many people in your target market, share your brilliance you’re your ideas.

They get to get your coaching at prices that are much lower than your one-on-one fees. This way everyone wins!

- Teleseminars. Teleseminars are classes that you can teach over the phone. Are there topics that your target market is interested in? Create a teleseminar on one of these topics and invite your target market to join you on these calls.

Teleseminars allow you to help many people at the same time and offer your target market access to your knowledge and expertise at a much lower fee.

- Home Study Guides. Package your knowledge and information into different media - audio, video, text documents, etc. Use these different documents to create Home Study Guides - packages that contain information in many different formats.

- Ebooks. Share your information through a text document - write and put together an ebook. Selling an ebook is another great way to add additional income streams to your coaching business.

I have just outlined four additional ways to start adding income streams to your coaching business. Pick one and start using it immediately to increase your revenues!

To learn how to create information products, join me for FREE Information Products Teleseminar at http://www.avocadoconsulting.com/in/

Biana Babinsky

Many coaches have told me that all they wish for is a full coaching practice. This was also what a client of mine, Linda, really wished for. She mapped out exactly how she saw her full practice - 25 clients, each one signed up for her 2-sessions a month package.

After creating a marketing plan, and diligently using it to Linda got her wish. She had 25 clients she enjoyed working with, each one was signed up for her 2-sessions a month package.

But, she was still having some issues:

- She wanted to coach only three days a week and spend the other two days on in-person networking events, marketing and spending time with her family. This proved to be impossible, because she could not coordinate the schedules of 26 people (25 clients and her) to fit all the sessions into Wednesdays, Thursdays and Fridays. As a result she didn’t have the free days to do her networking and marketing that she originally thought she would.

- She didn’t have time to market and network - because she didn’t have her free days, it became hard to fit her marketing and networking in-between her client sessions.

- After some time of working with 25 clients she became tired and overwhelmed She hired an assistant to schedule and re-schedule clients and take care of all the admin work. While doing that definitely helped, she was still feeling overwhelmed.

- She wanted to work with more people, but she could not physically take on any more clients.

She started not enjoying her work as much as she used to - she was tired, overwhelmed and she knew that she was not doing some of the things she needed to do. She wasn’t able to help everyone she wanted to help, she had no time for marketing, and, most importantly, she started not enjoying her work!

Be careful what you wish for. One question that I ask my new coaching clients is: “If I could grant any wish for your coaching business, what would it be?” Many coaches that I have worked with told me immediately that their wish would be for a full coaching practice. Many coaches believe that the only way to have a successful business is by having a full practice. And this is not true. There are many different ways to have an extremely successful coaching business:

- Some coaches don’t have to work with one-on-one clients at all. Some coaches I know only work with clients in group settings.

- You can offer create a very successful coaching business by helping your clients with information products. Teleseminars, audios, e-courses, ebooks, study guides - you can offer these information products in addition to your coaching services. That way you will be able to work with very few clients one-on-one and you will be able to help many more clients with your products.

There are many more ways to structure your coaching business. You could membership web sites to offer different levels of coaching programs. You could offer a group coaching program and give your participants an option to buy a few one-on-one sessions when they need additional help. You are only limited by your imagination!

You are running your own coaching business, which means that you set the rules. If the current coaching business model that you have isn’t working for you, map out the coaching model that will fit you better and then create a plan to achieve it!

Linda in the example above decided not to take on any additional clients until she was down to 15 clients. So every time a client graduated, she didn’t look for a replacement, but instead used the time she had freed up to market, build her list and create information products. Later, she decided that her ideal coaching business was a mix of 10 one-on-one clients, teleseminars and a membership web site.

What is a model of YOUR ideal coaching business? Post a comment and share with us!

Biana Babinsky

P.S. Learn how to create your ideal coaching business at the online business mentoring web site

How many times has this happened to you? You are talking to a prospect who sounds like a perfect client. You have had a wonderful conversation and you are really looking forward to working together. But at the last minute, as soon as the prospect hears about how much you charge, the prospect says: “I can’t afford this!”

So, what do you do? You have three options:

Option 1: Lower Your Prices To Accommodate This Client

I have to tell you, this is the worst option. I teach my students to never lower their coaching prices.

When you lower your prices the message that you are sending out to the world is “I do not value my own services, so I am lowering my prices.” If you do not value your services, no one else will either.

Even if the client decides to hire you at the lower rate, you will secretly resent the client and will not be able to be your best with this client. This is a lose-lose situation for both of you.

Option 2: Be Polite, But Stand Your Ground

Tell the potential client that you would love to work with them, but your rates are your rates, and that’s what you charge.

Better than option #1, but you still did not help the client and did not earn any more money. This is why we have:

Option 3: Recommend A Lower Priced Product

This is the best option for both you and the potential client. Not everyone is going to become your one-on-one client. But you still want to help as many people as possible, but not necessarily by working one-on-one with each of them.

Offering products to people who can’t afford your services helps you in many different ways. You are able to help them without having to lower your fee. And you are able to make money - a win-win for both of you!

So, how can you offer products to your potential customers? Here are a few options:

Create Your Own Products

Here are some products you can create:

- E-books.

- Audio Products. Record yourself on your computer, record an interview with you or someone else, record a class or workshop, etc.

- Teleseminars. Teach a class over the phone.

- Membership Web Site. Repackage your knowledge, and help your target market in a group setting.

Want to create your own products? Learn how to do that in the How To Create Information Products Guide, available at http://www.marketingsalad.com/products.html

Or, you can

Offer Other People’s Products

So what if you don’t have any products for sale (yet!) and you need to recommend a product to someone today? Recommend other people’s products! You can recommend other people’s products and still earn money with them!

Recommend books. Books are great to learn from and inexpensive to purchase, so most all of your potential clients will be able to afford them. Join an affiliate program at Amazon or some other online bookseller and you will be able to recommend books and earn money. An affiliate program is a program that lets you recommend someone else’s products, while earning commissions on every sale that you refer.

Recommend products from other online business owners. If you have used another business owner’s products and think that your clients and potential clients will benefit from those products as well, join the business owner’s affiliate program and earn money by recommending their products.

It may not be obvious from the business owner’s web site whether they offer an affiliate program or not. If you want to recommend someone’s products, but you can’t find an affiliate program on their web site, you may want to e-mail the business owner personally and ask if they offer an affiliate program.

Want to recommend my products? Click here to join my affiliate program and earn 40% commissions on every sale!

Biana Babinsky