Financial Resource

If you’re a coach, trainer or therapist, you must read and act on the information in this article if you want to achieve financial freedom. It’s vital that you set up a simple “plumbing system” to generate multiple streams of passive income and I’m going to demonstrate exactly how to do it in 5 steps.

A simple but reliable rule of thumb is that 80% of your revenues will come from 20% of your clients – this is what has become known as the Pareto principle and is very powerful if you know how to apply it in order to achieve financial freedom.

To create financial freedom from an internet-based coaching, training or therapy business, first identify how much monthly passive income you need to enjoy your desired lifestyle. Or you can create financial freedom much faster by working out how much monthly passive income is needed to cover current outgoings before you move on to create further wealth.

You should be looking to create 5 income streams as a coach, trainer or therapist:-

1. Recurring income through some form of continuity program, offering valuable content on autopilot every month. Imagine of you could recruit 70 members at just £39 a month – that’s £2730 passive income every month already!

2. A “big ticket” product which involves no one-to-one time from you or personal effort to fulfill it. This could be a home-study course created when you filmed a seminar series (see 4 below). Let’s say your “big ticket” product sells for £249 and you sell a conservative 5 each month – that’s another £1245 passive income every month! Using the examples above, we’ve reached £3975 a month. Surely that would that be enough for you to achieve financial freedom from where you are now? How exciting is that?

3. A top end coaching program at a premium price. Yes, I know this involves exchanging time for money, but by implementing 1 and 2 above, you’re already financially free and can focus on doing stuff you love and really helping the people you want to help most. Between 4-5% of your list will want to spend the most money with you, so ensure that the coaching program is premium priced and offers excellent content and client outcomes.

4. Live events such as seminars. These are big payday events at say £995 a ticket where you professionally record the content to create a “big ticket” product (2 above), create DVDs from the live content and up sell other offers such as continuity and top end coaching.

5. License or franchise your products to others in the form of a “business in a box” opportunity.. This is where massive wealth can be created.

Using the above formula, you can easily achieve financial freedom as a coach, trainer or therapist in less than 2 years. Imagine living the life of your dreams, complete with laptop lifestyle in just 2 years’ time!

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