Economic times are hard right now and it would be a perfect time to create an extra stream of income. Many people are struggling right now and you can help some of them to make their lives easier and earn yourself some income in the process.
Turn your expertise into income
Think of the problems that many people are going through right now. Identify a problem that affects many people that you can solve. This should ideally be something you are well versed in such that you are competent to show someone else the way.
Maybe you have had a successful career in sales for 5, 10, 15 years and have learned practical skills and strategies that can help others who are struggling to become successful. The expertise you want to share with others could be weaning a baby, setting up a business from scratch, setting up accounting systems for a business, improving time management, overcoming procrastination, etc.
How will you help people to find solutions to this problem? What has worked for you and how can it be adapted to other people’s situations? There is a lot of information inside of you that can benefit other people. You only need to get it from inside of you so that others can access it.
Your solutions can’t be applicable for all people so identify your ideal client and focus on providing solutions to that particular client. Think about who your ideal client is in terms of age, income bracket, lifestyle, occupation, etc.
Select carefully the people to work with, keeping in mind that you are likely to surround yourself with that kind of people for decades to come. A message directed at no one in particular is nobody’s message so be clear who you are addressing as you promote your program.
Get yourself a coach or a mentor, someone experienced who can hold your hand as you find your way. This will shorten your learning curve. Trying to find your way on a road you have not walked before could see you unnecessarily waste a lot of time and resources.
Structure your business
Success loves structure. Come up with a simple, clear step-by-step guide to help your ideal client solve the specific problem you are addressing. Document the steps you will be using to work with clients such as the weekly emails and reporting forms for your clients. You can get free samples online and adapt them to your coaching business.
Come up with the structure you will use for your coaching sessions. Will you use phone call or video call for coaching? Will you have face-to-face sessions? How will structure a single session? How much will you charge for your sessions?
Success loves speed. If your business takes too long to get customers, you will go out of business. The product you are developing is important but getting word out the earliest possible is one sure way to attract customers. Do not devote all your time to perfecting your product while neglecting the marketing and sales aspect of your business.
Start promoting your program as soon as you have your outline ready, even as you continue to perfect it. Get word out about the service you are offering even before the products are ready for the market.
Look for opportunities to give talks about the problem you are helping people to solve. Join relevant online communities and get yourself noticed as you help people find solutions to this specific problem.
To help you turn your skills into income, I have put together a coaching program that places the right tools in your hands. Book a free session here to assess if the program is for you.