When I started my health coaching business, I intended to fill my roster with private clients in order to earn a good yearly salary. And I started off strong!
But then a few things happened.
First, I found myself finishing up with client programs and not filling their spots right away. Every time I had open space in my calendar, I panicked. If I wasn’t seeing a paying client, I wasn’t getting paid. And if I wasn’t getting paid then how was I going to earn enough to live on?
The second thing that happened was that I found myself feeling drained. As an introvert, it takes extra effort and energy for me to work one-on-one with clients. I alternated between loving the work and not really loving the work. OK, I’ll admit it. I eventually started dreading the days I had to meet with lots of clients.
Over the years, I’ve tried many different ways of shaping my business. I’ve also worked with hundreds of IIN grads to do the same.
What I’ve learned through experience is that the best way to earn a living as a health coach is having multiple income streams.
You’ve probably heard this advice before, yes? Some examples of income streams you can create are private coaching, group coaching, online programs, downloadable products, physical products, giving workshops or doing public speaking, freelance writing and acting as an affiliate for brands you love.
Sounds a little overwhelming, doesn’t it?
My advice is to not try and tackle everything at once. Your business, like any new business, will take some time to grow.
Start with what you have
What you probably have right off the bat is a private health coaching offering. You may also feel comfortable offering group coaching.
Add in workshops, public speaking events and freelance writing
These benefit your business twice. You can earn a fee per event or article, plus you’ll get exposure and have the opportunity to add new subscribers to your mailing list. That’s extremely important when you’re starting out.
Create passive income
Once your audience and mailing list is sizable, you can most effectively make money through passive income streams like selling an ebook or acting as an affiliate.
Launch larger projects, like online programs, writing a book or hosting a retreat
Now that you’re earning from multiple sources and have an audience that loves your work, it’s time to invest some time in larger undertakings. These will boost your income to the next level.
Michelle Pfennighaus, IIN Class of 2009 and star of the movie “Lemonade,” has been seen on ABC, CBS and NPR with her inspiring story of reinvention. As a health coach and business mentor, she has worked with clients around the world. Connect with Michelle on her website and on Facebook and Twitter