6 PROVEN Ways For Coaches To Make Money Online

As a coach or an expert or author trying to get your name out there, trying to really make a difference and build a business at the same time, it can be challenging to decide how you want to actually grow your business. Truth of the matter is that there are many different ways that you can grow an online business teaching your passions, teaching the things you love, that you know, and that you're good at. There's a lot of different ways you can do that. So today what I wanted to do was help you get clarity. Really, that's the point of this. Around 6 proven coaching models and ways that you can really grow your business and actually make money online. I wanted to do this because I know from experience that it's— you hear all these different approaches and things that you should do and how other people became successful, and it's like, oh, it's kind of overwhelming. So these are 6 proven ones. I'm not just saying they're proven. I know that these are proven because I have either used them to make money online or even in person as well, but mostly online. And if I haven't used one of these, I have friends in the space who have built their business around these. Okay. So I'm not just kind of throwing minutia and fluff at you. This is real stuff that you can actually use. And I recommend you listen through all of them so you can know what the 6 business models are, the 6 proven ways to make money online. At the end, definitely stick around because I'm going to give you a great strategy on how to actually approach any given one of these that you decide to go after. Okay. So you can have a, a real game plan and a pure focus at the end of this. So make sure you stick around to get that game plan. You know what the 6 are and you can decide which one is best for you. Without further ado, let's dive into 6 proven ways for coaches to make money online. Welcome to episode number 12 of the Profit Your Knowledge podcast. I'm your host, I'm James Allen, here to help you turn your knowledge, passions, and skills into an online business so that you can be your own boss, make a difference in the world, and build yourself a life of freedom. I'm pumped about today's episode. I thought it was a cool idea. It was just intuition kind of hit me with this. And bear with me, by the way, if my voice is a little, I guess, hoarse, or if I maybe sneeze halfway through this, I don't know. I'm, I'm kind of just getting over a little cold that I had over the weekend. Nothing extreme. It's not COVID. I tested. But anyway, that's what's happening. So we're going to dive into 6 proven ways for you as a coach to make money online. If you're not a coach, get out of here. Why are you doing this? I'm kidding. If you're an aspiring coach, this is also great too, especially if you're like just getting into the game of wanting to coach people, wanted to work with people, whether it's fitness coaching or business coaching or productivity. Performance, whatever kind of coaching it is. You want to help people. Bottom line, one of these business models that I like to use is what I'm going to kind of dive into today. But if, if you want to start creating YouTube videos and you want to start maybe building digital products and just really growing your business online or focusing online, then I highly recommend you pick up a 5-step action plan that I put together. I laid out the entire business model that I like to use, which I'm going to dive into this. And it's really just a beautiful business model because I have tried a lot of things. I've been in the game for over 4 years at the time of this recording, and I've tried so much and made so many investments, and a lot of them were just total crap and some of them were great. And those ones that were great really outweighed the crappy ones. Okay, this is a great business model. It's one that you can check out. It's how you get discovered and You create content basically, and then you have to bring people from that free content like blogs or videos or social media posts. You can even do bring them over to an email list and then you can build a relationship on email lists. But the beautiful thing about it is that it can be automated and I show you exactly how to do that. Even if you don't know what your idea is, I show you how to do it. 5 steps starting with your ideas. If you already know that part, you can do a little double check, decide if you want to actually refine what your idea is. We can go on to the next pieces. And I literally give you tons of goods inside of that. And there's even some links to different videos so you can have more clarity on what I'm actually talking about because it is a pretty compact PDF that you're going to get. It's only 8 pages long plus the COVID photo. So really it's like 7 pages long, but it's going to be super valuable for you. Okay. So to pick up your guide, if you're really interested in turning what you know, what you love, what you're good at, your knowledge, passions, and skills into an online business, and getting out there and starting to make money online, then I highly recommend you just check it out. It's free. It's my gift to you. So you get clarity on a proven business model, and I'm going to dive more into that here in a minute. So to get the guide, just go to ProfitYourKnowledge.com/guide. There's also a link in the description as well. Okay. 6 proven ways for coaches, consultants as well, people who teach things to make money online, to get discovered and start making this work. We're just going to dive through these. I'm going to go through the pros and cons as well. And then, yeah, let's just, let's just, let's just dig in. Number 1 is writing books. You can write books. I'm going to go from like least, I guess I shouldn't say rewarding, just the ones you can make like the lowest amount of money versus how you can make the highest amount of money. In that order. So writing books is definitely a way, and you can make a lot of money writing books. There's people who have like 6-figure income streams just from their books. If you're just starting out, I would not recommend this. Okay. I tried to actually write a book and it was not my thing. I like wrote a couple of chapters and I was just like, this is, this is not it. This is not what I need to be doing right now. So I did not keep writing a book. Plus it just wasn't the time. I think you should write a book when you're like very established in working with people. You've worked with a lot of people. You have a good process or system, and then you can go over and actually write the book. Okay. But when you're like just starting out or kind of getting the ball rolling, you know, then I don't think it's really time to write a book. Plus it's a low ticket option. So let's dive into the pros and cons. Pros: books are accessible for a lot of people, very accessible. People can do audiobooks, they can go pick up a book. It's a low ticket item, doesn't require spending hundreds of dollars or thousands of dollars. But actually some books, I've seen priced that high. So you can make a book, but generally a book is anywhere from like $10 to $30, you know, nothing crazy. So it's accessible for a lot of people, which is nice. Um, also a lot of people will probably pick up the book, only pay $10 or $15, $20, and they're like, nah, and then they don't read it. So it's kind of unfortunate. Um, but a lot of people get great value. I get great value from books as well. Books also can lead to speaking opportunities and just, you know, presenting opportunities, which is really great. And I think that's a better way to actually use a book. And it's also a great lead magnet. So this is why people like Russell Brunson, for example, with ClickFunnels, they have inside of ClickFunnels a funnel that you can do a one-click and it builds your funnel. And it's all built around the book funnel. It's literally called the book funnel. Because something that Russell Brunson does and a lot of these really big entrepreneurs do is they write a book and then they give the book away for free. So they send you a whole copy and everything, but you have to pay for like shipping. They get you because it's a lead magnet. You're like, wow, that's huge value upfront. They wrote a book and they put a ton of effort and time into it, and then they give you the book. You have to put in your credit card information to get to pay for the shipping, but then that sets up a whole entire funnel that you have. So the shipping's like, you know, $5, $10 or something. And then you have to, yeah, end up getting presented with like bump orders and upsells and all these different things. Sometimes they have like 20 upsells and I'm just like, ah, I just want to get my book, you know? So you don't have to buy those upsells obviously, but that's how people make money from the book is that they write this book, they use it as a lead magnet, run ads to it. Or tell people about it, and then they sell stuff on the back end after they've collected your information. Okay, strategy right there. But yeah, I think writing books, best pro of it is that you're a published author. That speaks a lot because it takes a lot to write a book. There's ways to write books really fast. There's like a, a YouTube channel called Self Publishing Something. If you type in self-publish a book, he's going to pop up. I forgot his name, but I looked into him for a little while. but they literally help you write a book super fast. It's really cool how they do it. And they have a process to it and everything. So you can write books pretty quick if you're, if you like writing too. But yeah, it leads to public speaking opportunities is probably the biggest thing. The cons when it comes to writing a book, it takes a long time to create. You don't just write a book overnight like that unless you have a really small book. Even like, I think a smaller book could even be harder to write because you have to be more strategic with it almost. Um, But, but books take a long time to create and then you have an editor come through. There's a lot of like moving parts to writing a book, so they're also difficult to update. Something important to think about. Let's say that you want to add a chapter or a second edition to your book. Maybe you want to take a chapter away. You're like, this is just, I realize it's totally unnecessary. You got a lot of feedback. Now you have to go through and edit the book, either add your chapter or take your chapter away. Maybe even have an editor look at it again, refine it, and now you have to go publish more books. Okay, I'm not a big book person. Some people could be like, oh, that's not how it goes. But bottom line, it's a lot more tedious to actually create and then you have to print copies and then you have copies on the side. I know you can do like print on demand, but still it's more difficult to update. And yeah, it has a low selling point. If you wanted to make like $10,000 a month just from your book and you had a $10 book, you'd have to sell 1,000 copies every single month. That's kind of difficult to do, I guess, depending on where you're at and what your position is. So it is a way to make money online. You can do the print on demand where people just find your book and then they buy it. I have to— I really invite you and challenge you to assess where you're at in your business, because if you are very established and you're like, I want to do more of the public speaking stuff, then yeah, heck yeah, go for writing a book. Okay, so number 2 is membership sites. Membership sites can make a lot of money. I know people who have like $200,000 per month membership sites, like freaking crazy. It's like $100 per month and they have a couple thousand people inside of there. It's wild. Um, pros of membership sites, recurring revenue, recurring revenue. You get to create recurring revenue inside your business. People pay $50 or $100. Per month. And you can do more expensive ones, but on average, $50 to $100, $47 to $97. It's pretty typical for a membership site, but you get to create recurring revenue. The only thing you have to consider is that there's this thing called churn where people unsubscribe and it's totally a thing. It's one of the cons. Um, but it is beautiful. That is like probably the best way for people in our situation who do coaching and teaching things is that they get to create recurring revenue. Another pro is that you get to coach a lot of people with minimal time commitment, assuming that you have a lot of people inside your membership site. You can— the potential is that you can help a lot of people inside of this, and you don't need to put a ridiculous amount of time into it, which is pretty cool because you also have a community, which is like a big piece to a membership site. There's a community of people in there, and they get to connect with people and start serving each other and helping each other. So there's people getting helped and served while you're hands off. You're like hanging out, having dinner with a friend or coffee or whatever, going on a vacation. And you do— you still have to put in time. So that's the other— that's kind of a con is that you don't just like do a $100 membership, $100 per month membership and just call it a day. You're like, oh yeah, it's all good. I can just sit back and do nothing unless you have a team of people, you have coaches and people who come in and serve these people. But it takes ongoing effort. I learned from one of my mentors, Graham Cochran, who has a very successful membership site. It's very phenomenal as well. I've been in it. Um, but he talks about the 3 C's to a membership site, which are the coaching, where you're actually sitting there and doing live calls with people or one-on-one, depending on the size of your coaching, uh, or the size of your audience inside this membership site. So you have your coaching, you have your content, which people have inside to like learn about or dive deeper on your topic that the product is built around or the membership site, and then you have the community. Now, Graham talks about it where he says like, people sign up for the content or the coaching, but they stick around for the community. And I think that's really important. Okay. Um, you do need to have a big audience. That's a con. You have a relatively large audience. I would say at least 1,000 people that are engaged, they really engage with you. Then you consider, consider doing a membership site. Cause I mean, there's no point in having a membership site where you have like one person in it paying you $100 a month and they're just like, I'm just kind of here, you know, that's not valuable enough. If you have a lot of people in there where they can connect with like-minded people, that's awesome. Okay, so takes ongoing effort, need a big audience, and people unsubscribe. They— it's called churn. They unsubscribe, they decide, ah, it's not really my thing anymore, it wasn't what I was looking for. I don't— something, something came up in life. I need to keep that extra $100 a month or $50 a month. It is what it is. Okay. But you can make a lot of money. You just need to have a pretty big audience with it. Excuse me. Number 3 is online courses. This is one of my favorite ways to make money online is creating online courses. It's what I teach. If you pick up my 5-step guide, I talk about online courses. This is the one, you know, spoiler alert. Uh, I also teach some other stuff. I do a bit of a hybrid approach, which I'll get into in a little bit, but Online courses are a great way to create something that is accessible for a lot of people. Most coaches charge, you know, anywhere from $1,500, like the bare minimum, I'd say, to $30,000 or more, depending on what level they're at and what they offer. They charge a lot of money. Usually it's in the couple thousand dollar range to work with someone. Courses are great because they can put that teaching or that process into a digital platform that's self-paced for people, so it's more accessible. For them to kind of like take their time with, but also it's more affordable because you don't have to put the time in, which ongoing, I should say, which is pretty awesome. Online courses are also more valuable than books. You can charge an online course for anywhere from $47 or $50 all the way up to $1,000 or more. I have bought a copywriting course that was $2,000 and had a payment plan, and I was just, yeah, using that. So, you know, you can charge a lot for online courses. You could still make it like a high-ticket item. It's also a long-term asset, which is phenomenal. You can have online courses where people can discover it. It's something built when it really has value. It's a really great asset that allows for you to go to my next pro to create automated and scalable passive income, which is great, especially if you follow the business model that I teach and that I've learned and that I love. That I run my business on. People find content like this on YouTube. They go over to your website because you guide them over there and then you get to trigger automations where it sends emails to them and then they can, they can find out about your online course, get value from you, and it's all automated. It takes time to build it for sure, but when you get it going, you get it dialed in to where it's good enough to start getting discovered, bringing people over, making sales. You have a passive income. Which is freaking awesome. It's super, super cool. And I think it's a great long-term strategy to work towards as a coach, regardless of where you're at, because you can create that passive income. And that's what allows you to work like part-time hours, like 20 hours per week, go play golf with your friends. Like, I like to go play golf with my dad. You know, I go do that kind of stuff. Online courses also give us great profit margins. The amount of money that it takes to run an online course business very minimal. You could use Kajabi like I use in the minimum payment plan that they have. And it's like it's $150 unless you do yearly, it's $119. Let's say $150 and you sell an online course that's $200. You sell one per month in an automated system that you build. It's awesome. Like you paid for your entire software to run this online business. Okay. And then think about when you get to the point eventually run this system, getting better at it, that you're able to do a sale a day at $200 because you have enough people coming through, you know, like it's ridiculous. So the amount of money you can make is way higher than the amount of cost that it takes. And that's what scalability is really all about. But there are a couple of cons to online courses. Number one is that they can take a long time to create. I would say if you're new with online courses, focus on mini courses. Until you get the system dialed in because mini courses don't take as long. And when you know how to build a mini course, you can build a full-fledged course. Okay. But I wouldn't say like put all this time into building a full-fledged flagship online course. Um, unless you have someone there helping you like really do it so they can oversee. But if you're doing it like on your own, focus on mini courses till you get it dialed in. It's also going to help you start bringing in some revenue, like a $100 mini course. That's a great price point. When you start making $100 a day, like, holy crap, that's awesome. You know, passively. But they do take a long time to create, or they can. There's a lot of skills that you need to develop too. Like, you need to be good at marketing. That's another kind of con. It's also kind of a pro too. And if you think about it, that I have to build the skill of marketing, but you have to really get good at copywriting and building funnels and streamlining funnels. Funnels don't need to be complicated. This is like what really I help people with this on top of like booking phone calls as well and selling more high-ticket coaching because I like this hybrid approach. But I would say if you start creating online courses, you have to be good at teaching and you have to enjoy teaching, which could be a con, could be a pro for you. It's kind of in this gray area. You have to enjoy teaching and not just direct coaching because there is a difference. You're teaching one-on-one like I am right now. I'm teaching you about things, different business models and things. That go inside of each one. You have to really enjoy that. I personally really love that. And if you start going down the online course creation route, I highly recommend that you look into copywriting, that you learn about copywriting, because copywriting is everything. It's what allows people to click on your emails, to read your emails, to enjoy them, to click on your sales page, to actually read your sales page, and to make sales. When you get that skill down, you're set. Okay. It's probably the biggest skill that would make everything else easier. Uh, okay, cool. So that's online courses. Next is public speaking and events. Now we're starting to get into more of the, uh, the cash money, high ticket stuff. Public speaking is phenomenal. When I went through my coaching institute, which is called Brave Thinking Institute by Mary Morrissey, this is what they taught us. Their simple formula for success: do public speaking, speak on your own stage or other people's stages. Invite people to do a strategy session or a coaching call with you, and then enroll them into your program. And they gave us programs and all this cool stuff. So great school. If you're looking into getting certified, highly recommend you check out Brave Thinking Institute. Let's dive into some pros with public speaking and just events in general. Public speaking is one of the most powerful ways to showcase expertise and authority. Authority. I'm not saying like you control people. I'm just saying like if you see someone on a stage and they get up there and they look like fresh, you know, clean, and they're teaching a subject, like naturally you see them as a powerful figure unless they suck at public speaking, I guess. But if they have some like good chops, just the fact that they're on the stage is like they must be an expert in some sense. So it was one of the most powerful ways to show that because anybody can make YouTube videos and all this kind of stuff. But to get on stages and speak, it takes a lot of work, you know, and it takes a lot to get to that point and to show yourself as being the expert. So very powerful. You can also piggyback on other people's audiences. And public speaking isn't, isn't just speaking on stages. It's also online. What I'm doing right now on the podcast, or if you're on YouTube, is I'm doing public speaking. I show up every single week and do public speaking and I just hit record and just go. I'm not doing a bunch of editing and fancy stuff, which is a topic for a different day. We're talking about content. But what's beautiful about is that if you're able to have public speaking skills, you can go present on a podcast and build your audience that way and be presented on podcasts, but also hop on stages where people have these big events where your target audience is already paying to show up there. And then speak. And it's just great because you can get in front of a lot of people, which leads me to my next pro. You can sell one-to-many and you can get paid for speaking. Just for being on the stage, you can make money. You could charge $5,000 or more as a speaking fee, or it could be $1,000 or a couple hundred dollars. Still, you're getting paid just to speak there and just to be on the stage, which is pretty cool. But also some speaking events not a lot of them, but some of them, you can get in front of your target audience and sell a product. So you can get paid like $5,000 just to be on the stage. And then— excuse me— and then you can, you can offer like a course or to enroll people into your coaching program. It's so cool. You can make a lot of money doing it if you really go down this route. And this is why people praise public speaking and just like using this as a proven business model. I did public speaking. I enrolled the vice president of MassMutual or one of the MassMutual kind of like buildings, I guess, or districts or whatever you want to call them. I went into MassMutual, went in the top suite, spoke to a bunch of executives, and I enrolled the vice president to work with me and do coaching with me. That was back in the day when I was doing like life coaching stuff. Oh, it's coming up. But no, it's possible. And I've been paid. I've been paid to show up and speak on stages. I've done all that stuff. Okay. It is fun. It is cool. It is a lot of work too. A couple of cons with public speaking is that you have to master one of the biggest human fears. The biggest human fears is standing up on a stage and speaking to people, having everybody looking at you. That is, most people aren't willing to do that. Okay. I mean, when I'm here, I'm talking to a camera and my microphone, like I am not on a stage. I don't mind it. I'm a Leo. Okay. If you haven't picked that up already, I like being on stages. I like being in the spotlight, which is why I'm a musician. I love to rock out. But public speaking was pretty natural for me because I grew up being on stages and doing public speaking and that kind of stuff because naturally I just liked it. Okay. But if you're not into that, you have to, you have to develop that skill. Otherwise you can't be successful at being a speaker. Okay. There's a lot of things we're not going to dive into how to do public speaking today. Another con, I guess, that the getting over the fear of showing up and doing public speaking could be a pro for you, um, depending on how you want to look at it. Another con is getting people to show up to your event or to other people's events. There's some events where you have to bring people, you have to make sales and like pre-sell the tickets yourself, and that can be difficult. To get someone to commit even on a webinar online where it's quote unquote easier for people. They still don't do it. It is difficult. You have to give people some incentive, some reason to show up, and that takes work. Okay. But getting people to show up is probably the biggest challenge that people have, especially if you put on your own event or your own workshop. How do you get people to show up? Okay. It's a con. It's something you need to look into, a challenge, a barrier that you have, but it's possible to overcome because people do it all the time. Getting yourself booked for events can be challenging. I know from experience, it's especially if you're doing it yourself or you hire an agency to do it. I hired an agency and they ran me dry of money. They were getting me booked on stages, but it was like Rotary Clubs and it wasn't really bringing in revenue like they promised. And I was like, can you guys put me on some better stuff? Because I'm paying you like $200 every time you book me on a stage. Um, so yeah, I actually had more success booking myself and doing the phone calls, but I had to sit there and make phone calls and be told no directly to my face or my ear on the phone multiple, multiple times. Okay. But I've also spoken on stages and made $5,000 to do it. Like, so there's pros and cons. Okay. But you have to decide what you really want. Is the juice worth the squeeze for you? All right. Because you're going to have to learn those kinds of skills. Number 5, the 5th proven business model to make money online for coaches is group coaching or masterminds. The pros of group coaching and masterminds is that you can serve more people for a premium price. You can charge $3,000 per person or more. You can do $12,000 per person depending how long it is, how much is into it, how much experience you have. You can charge more of a high ticket with multiple people, which is pretty sick. I've done this myself too. Um, it also frees up more of your time. It's more scalable. Okay. You can have 10 people in a group that each paid you $3,000. So you made $30,000, which is awesome. Uh, and instead of meeting with one person a day or a couple people per day with 10 clients one-on-one, you can meet one time per week with 10 people in the group. That's pretty awesome. So it's more scalable because you don't have to put as much time and energy into it because coaching takes a lot of time and energy. Hands down, whether it's group or one-to-one, doesn't matter. Students or clients can get more value from other people in the group, from connecting with people, kind of like the, the membership site like we talked about. It's a really great value. And I have been in group coaching, I've done group coaching, and yeah, students get along, we meet each other, we get to connect with each other and to support each other with our own skills and expertise. I think group coaching is phenomenal. Couple cons though. It's not as personal as one-on-one because you're not working with every individual person, which may not be your cup of tea. It may not be what other people really want. Something to consider because you're speaking like one-to-many. You can be working with one person at a time and kind of have hot seats, but you only have so much time in a day to get through as many people as you can. You also need to have enough people that are willing to sign up for this to pay you a premium of like let's say $3,000 per person or even $1,500 per person. You have to have enough people that are willing to put that money in and that will also show up and be there. Okay. Things to consider, pros and cons. The last one is one-on-one coaching. One-on-one coaching, I think, is the fundamental piece that every coach needs to master is how to market, how to create offers, how to connect with people and enroll them into one-on-one coaching. It is the fundamental skill set, in my opinion, that people need to master before they move on to the other stuff. Kind of. I mean, with the public speaking, like, that's how you get discovered, how you invite people over to work with you one-on-one. But regardless, this is the number one that you need to get down. Pros of one-on-one coaching. It is the highest price point because people pay for proximity. Your online course can be like $500 or $100 or something, but to work with you one-on-one could be a couple thousand dollars to go over the same exact thing. Why? Because people pay for proximity. They pay to have direct access to you, to sit down, to have them be in the spotlight with you helping them, listening to them, coaching them, challenging them. It, it's the highest price point that you can by far charge. I say you should charge a minimum. Of $500 per month, whatever that is for a package for you. If it's 3 months, it'd be $1,500 for 3 months is the minimum you should go by far. And that's what I help people with. That's what I teach them with when it comes to one-on-one coaching, because you're putting your time and energy into this person, into one single person. You're putting in so much effort into one person, especially if you want to do a good job. It's not just like, it's not easy. It takes a lot of effort. It takes a lot of energy. It takes your time. If you had 10 clients one-on-one and you had that in a week, like that's 10 hours of your time just from sitting down on phone calls. And it probably will go over too, unless you did like 30 minutes per week. But still, calls tend to go over. It just happens because you want to serve people. Okay. I, I, at least I do. So highest price point, people pay for proximity. It's also the most simple. One-on-one coaching, you can make the most amount of money one-on-one for charging a premium to work with you. But also it's the most simple. You just enroll people, you work with them. You can have tools and systems and stuff that can help people have a better experience and get better results. But really, like, you can just sit down on the phone with them or on a Zoom call. Pretty straightforward, pretty simple. You could literally start right now. And if you haven't done it, you should. Okay. It is, like I said, the most valuable skill set to develop, to be able to know who you serve, what you help them do, and how you help them do it, to be able to find these people and turn these conversations into enrollment calls and into a client roster. Like, that is a beautiful skill set when you get that down. And this is something that I like to teach people when I work with them, because I realize this was like, if I learn the skill of being able to connect with the right people and knowing who I serve, Having conversations and turning them into clients, that is like the coolest thing in the world because that is real power, in my opinion. Being able to just whip out your phone, social media, it's like a 24/7 networking event. You can connect with people, you can enroll them and invite them to do coaching with them, serve them powerfully, and then invite them to work with you. Be like, hey, this is what it would look like. They're like, oh sweet, I'm ready for that. Or maybe they're not. At least you got to help some people. But learning that skill set, you can literally never be out of money. When you get it down. Okay. But it takes practice, takes strategy, takes skill. It's also the most fulfilling, and clients can and should get the best results from one-on-one coaching. Working with you, it's the most fulfilling because you're working with someone directly. Um, and yeah, because of that, you put the most energy, most effort into one person. They should get the best results possible. There are some cons to one-on-one coaching. It takes the most time and energy. Like I mentioned, you can only serve one person at a time. That's what you're doing. And it's not scalable without a team. If you don't have a team of people and it's just you, it's not scalable because you have to put your time and energy into it. If you have a team, you can still do one-on-one coaching, but you would have to eventually have moved to either group coaching or you would eventually have to hire different coaches. And assign them to different clients so that you could free up more of your time and still bring in that high revenue. Pros and cons. Got to think about it. All right. So I just went over 6 of them. I'll just recap what they are. Number 1 is writing books. Number 2 is creating membership sites. Number 3 is online courses. Number 4 is public speaking and events. Number 5, group coaching or masterminds. And number 6 is one-on-one coaching. Are there other business models that you could pursue? Sure. These are 6 proven ones that I have proven that work for me. And also that, like I said, I have friends— I haven't done a membership site yet, but eventually I'd like to. I have friends, I have mentors who have them, and they're incredibly successful. It's one of the biggest pieces to their revenue. Can you do multiple ones of these at a time? Yes, you can. You can have one-on-one coaching. You can offer that. You can do your group coaching as well. You could do public speaking on how to get out there and then also bring people over to your business. You can sell online courses and have a passive income system running for you. And you can also have a membership site that people sign up for. Eventually you can get to the point where you have all these things going and you have multiple streams of income as a coach. That's the goal, right? But depending on where you're at, if you're just starting, you should really— I would— well, you can do whatever the heck you want, but I would challenge you and invite you to just focus on the one-on-one coaching piece. If you're just starting out, because that's how you're going to serve people. You're going to learn about your audience, who you like to work with, who you don't like to work with. And then it's going to make building online courses or membership sites so much easier. Okay. And you can also kind of focus on the public speaking piece. Again, it depends on where you're at. Also, it depends when you hear these 6 proven models, which one is actually intriguing to you? Which one sounds fun to you? Does public speaking sound really fun? Does it feel like a calling for you? Maybe it does. Maybe, maybe you're just petrified with speaking on stages. Does creating online courses and building this passive income system sound way cooler to you? In my opinion, it does. That's just me though. Being able to just put out content and have a system built where people can come over, they can check it out and decide if they want to buy. And then you have enough people coming through. You can do a public speaking event and then bring people over to the system, initiate the system by opting in for a lead magnet. and then they can go through and they can end up finding out about your course and paying for your course. You can make a sale a day and then you eventually can do multiple sales per day. Okay. All of these take skill building and they take time. So my biggest piece of advice that I could give you is that all of these work. I would say to pick one that you really want to excel at. At this point in your life and where you're at in your business, maybe you are really good. Maybe you're doing like $20,000 a month or $50K or even $100K per month listening to this. And you're like, I want to go down the published author route because I haven't done that yet. Go for it. All of them work. Pick the one that is the most intriguing to you that you really would love to excel at based on where you're at. And then what I'm going to challenge you to do is to break down all of the skill sets necessary to be successful at that one. Because the truth of the matter is that we can only really focus on one at a time. Okay? When you break down the skill sets, you can, you can start learning those skill sets and becoming more competent in those skill sets. And then you just have to stick with it until you win. That's like my biggest piece of advice right there. So let me give you an example. Online courses. When I first heard about it, I was like, that's what I want. I want to learn how to create passive income. Selling online courses and building online courses and creating these assets for myself and my business that don't require the time, energy to put in, the time and energy to like ongoingly put in and to create scalable income. Like all of that. I was just like, that's what I want. So I started building online courses and I built about 6 online courses until I sold one hands-off and it actually worked for me and then it proved the whole system and then it's just the rest is history from there. It did. It took me 6. It took time to learn different things. And the biggest skill that I— if you're thinking about the online course route is copywriting. So when you think about these to break down the skill sets, ask yourself, like, if it's online courses, what's the number 1 skill set that I could develop that would make everything else easier or totally unnecessary to be successful at this? That's a question that I asked in terms of online courses. And the biggest one that popped up, the aha moment for me was copywriting. Copywriting is everything. It's your opt-in, it's your website, the messaging, all of that. It's how your writing speaks to people and influences people to take action, to buy your course, to opt-in. Like all of that is copywriting. So I knew that if I learn copywriting and get good at that, everything else is going to be easier. I know I can teach. I know I can make good lessons. Based on where I'm at, that's the one thing. Okay, so ask yourself, what is the number one skill that I could develop based on where I'm at that's going to make everything else easier or unnecessary for this? If it's public speaking, it's just a matter of you actually speaking. So set a timer. These are just ideas. You could set a timer for one time per day for like 10 minutes or even 30 minutes. And you teach, you just— no recording, no— or you record it if you want to. but you don't have to. You, uh, just hit your timer, go for it, and teach a topic. That's it for until the timer goes off, 10, 30 minutes, and just get used to doing public speaking. You can do what I'm doing. I just hit record and I just teach a lesson. Okay, hopefully I'm getting better at public speaking doing this. Um, but if I go on a stage, I can't be like, oh, I'm gonna edit that out. Like, no, I can't do that. I have to present, deal with my mistakes, and, you know, act like it didn't happen, basically just roll off the tongue or acknowledge that I did it. Okay, so what's the skill set that you really want to master? If it's one-on-one coaching, it's the skill set of starting conversations, being genuine with people, inviting them to do a coaching call with you. Maybe you're really good at that, but converting them from like just being a looky-loo to an actual client, maybe you need to work on your sales process. That's the one skill that you could develop. In terms of that, that would make everything else easier or totally unnecessary? Maybe it's just picking the right prospects. Okay, so I challenge you to kind of think about that, and I'm going to leave you with that. If you got value from today and you want to learn more about the business model that I like to teach in terms of like the online courses stuff and having conversations with people, because online courses, they take time. To actually build, and it's a long-term strategy. The short-term strategy is just booking phone calls on the side, being able to just fill up your calendar with people, connect with them, make some high-ticket sales of $3,000 or $5,000 or more, $10,000, whatever you want based on your product or your offer that you have. If you really want to learn about that process, pick up my 5-step guide. I literally walk you through step by step how I run my business and how I do all this and how I make money on the backend of YouTube. Okay. You don't need to have a big audience for this or YouTube or my podcast, but you have to be consistent with it. And you do have to build out some processes and learn how to have conversations with people. So I'll show you all that inside of my 5-step guide. So to pick it up, just go to profityourknowledge.com/guide. Or again, there's a link in the description. All right. But yeah, if you got value from today's lesson, please share it. That's the biggest thing. Uh, like it if you're on YouTube, share, leave a review on the podcast of a takeaway that you got. Let me know in a comment on YouTube. That's my biggest thing. Pick one of these business models, stick with it, and I guarantee that if you really put your heart and soul into it, you will be successful over time. Okay, but stick with it until you win. Make sure it's in alignment with you. That's my biggest piece of advice. That's all I got for you. Take what you learned here, get out there, start building your business, and I will see you in the next one.