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You know, what’s better than one stream of income? Two streams of income! And you know, what’s better than two streams of income? Multiple streams of income. So today we are going to talk about how do you generate and have multiple streams of income as a coach or as a consultant beyond than just one on one, working with clients one on one. Now, let me just say this before I teach you the eight streams of income you could develop as a coach or as a consultant, do not try to do all this at once. Then you become shiny object. Don’t do that. You wanna develop this one stream of income at a time you focus on one, you develop it, get it going. And then you do the second one and you do the third one. You master one at a time. Don’t do that. Then you become an opportunity seeker. We are consultants, coaches and experts. So we have to focus. So multiple streams of income. What are some of the streams of income you could develop as a coach or as a consultant is very simple. First, you have what I call books. Now they could be actual physical books. They could be eBooks, and also they could be audiobooks. Now you don’t money from books. You make money with books. It positions you as the authority in your marketplace. I’ve talked about this in the previous episode. So that’s good, books. Then you have what I call digital or online courses. Something that you could put together. It could be a multimedia course that you could sell online using a platform such as Kajabi, which is what I use. So digital courses, then you have membership sites,

Which I love. Why? Cuz it gives you recurring revenue and think about a membership site is nothing more than a group of digital courses that you deliver. It could be full access at once, or it could be at a dripping sequence, like a continuity program. But the bottom line is you’re charging a monthly fee or an annual fee for people to access your content. A membership site, very powerful. And then, let’s not forget of course events. As a coach, as a consultant, events are very profitable and powerful if done properly. I have a lot of mentees. They do five figure, six figure, even seven figure from a single event. So events, I love events. I do a lot of events and nothing is more impactful as far as I’m concerned to create that transformation for your clients. So events, and then you also have coaching. Now it could be one-on-one coaching. It could also be group coaching. It could be in person. It could also be done through virtually, which is what I do coaching. Then you also have a variation of coaching, which is VIP day. It’s not ongoing, but basically they come to your site or you go to their office. You go to their site, it’s a half a day or it’s a full day VIP strategy session, a full day, half a day of coaching. That’s also very powerful. And then you have speaking.

So beyond then just doing your own events, you could be speaking at other people’s events. And in the previous episode, I’ve talked about this. You could speak for a fee like a keynote speaker, you get paid, they pay for the travel hotel and you get paid X amount of dollars to deliver a speech, very common, or you can speak for free, but then you offer your digital courses, your membership site, or your upcoming events or a combination of these things. Some sort of a high ticket offer speaking. And then let’s not forget this, affiliate. Meaning you could promote other people’s products to your list, to your prospects, to your clients. One of the most powerful questions you could ask yourself is how could I make money? When people don’t buy from me? Those unconverted leads, what do you do with those? Well, you could promote other people’s offers to them just because they don’t buy from you doesn’t mean they don’t like you.

Maybe just not a good fit. Maybe it’s not the right time. Well, you could promote other people’s products and services, right? How could you make money even after your clients leave you when they no longer do business with you. Maybe there are tools. Maybe there are things that you have recommended in the past and now they are still using it. You guys are no longer working together, but you are still generating income from it. I have multiple, multiple, multiple streams of income just from this alone. Things that I promoted years and years ago. So 8 extremes of income that you could develop as a coach or consultant, do not try to do this all at once. It’s like the warning, Hey, don’t try this at home. But one at a time, after a few years, as a coach consultant, you should have multiple streams of income coming in because this is actually a very good way.

Not just to sell your clients or to maximize the lifetime value of a client, but to serve them, they could study your books. They can buy your courses, they could buy your coaching and then study your courses when you’re not there in between, right? They could come to your events if they want a deeper, more impactful experience, right? There are some tools that they might need, or you might get new clients from speaking. Or you might have clients that are signing up for your membership site, but they wanna go deeper with you. And then they might buy your VIP day after VIP day. They might want ongoing coaching from you. So this is how you should think about your business beyond than just I’m working with clients. One on one until then go high ticket.