5 Simple Passive Income Ideas for Coaches
Have you ever bought into this idea that you have to show up for every single dollar that you earn? We've convinced ourselves about what it means to receive income. I don't know about you, but I'm here to tell you that working a nine to five is not the only way. But we still buy into that, and we normalize it, right?
You work your nine to five for 40 hours a week. At the end of two weeks, you get a paycheck, and this is what we normalize. That is the narrative that we grow up with and have drilled into our heads.
But as I moved into a new level in business, I realized that doesn't have to be your answer. And so today, what I want to talk about is I want to talk about passive income options for coaches. Maybe you thought about selling something in your coaching business which doesn't include one on one coaching.
Are you ready to create consistent passive income within your coaching business without the burnout?
I’m hosting a webinar for coaches helping you finally create more passive income within your coaching business. With Passive Profits, I'm literally helping you find a simple way to increase your revenue and your reach, and your business without burnout. I'm showing you what content can and should be sold passively. I'm giving you a step by step strategy that you can implement that will help you to avoid the overwhelm in building out this part of your product suite that can supplement the other parts of your business.
The Truth Behind Passive Income for Coaches
Maybe the idea of making money in your sleep or while on vacation when you see everyone talking about it is kind of appealing to you. Well, I'm excited because that's exactly what we're going to dive in and talk about today.
So first, let's start with the foundational piece. What is passive income? So if you're not familiar with passive income, passive income is essentially where you create something one time, and then you can make income on it continuously passively, without a ton of effort from you after you've already created it.
So think about it. As coaches, we have seven days a week, 24 hours a day, and 365 days a year. And so it can be difficult to try to do all the things and be all of the places. And this is why passive income becomes really powerful. So let's say, for example, you create something one time, then you can continue to sell it without actually having to show up for it.
So that's what I love so much about it, because I don't think we talk about this enough.
All in all the benefits of passive income are endless.
5 Simple Passive Income Ideas for Coaches
What I want to talk about is I want to talk about different ideas for passive income that you could leverage and pull into your coaching business.
Creating and publishing books
The first type of passive income is creating books. As an author, creating a book was the first time I experienced what passive income truly was.I wrote my first book, and even years later, it's been at least five years since I wrote that book. I still get monthly royalties on that book, so I wrote it one time. And don't get me wrong, it took a lot of work to put into it, but it's something that continues to bring an income for me each month, and all of my subsequent books have done the same. So creating or writing a book is actually an amazing strategy to help you bring in income passively.
2. Creating eBooks
The second type of passive income for coaches are creating eBooks. We're all familiar with what an eBook is and maybe you've purchased one or downloaded one or gotten a free one before. But people love eBooks because eBooks are simple and quick ways to get a bunch of information, take it in, and help solve a problem or achieve a certain goal. So let's say for example, you have written your passion is that you want to help people budget better. You could write an eBook on budgeting.
Let's say for example, you want to help people leave their nine to five. You can create an eBook on that very topic. You literally could even take content that you already have and repurpose it, such as blog posts. Or you could take your podcast and strip the audio and create part of your eBook content so that it doesn't even require a lot for you to create upfront. And then once beef it up and make it look pretty; now you get to sell it on repeat, which is amazing.
3. Selling Templates + Printables
Another strategy for selling something passively as a coach could be a creating a template. So principles and templates are amazing actionable products that help your clients see what it is that you have to offer or help them to build from that. So let's say for example, you want to create a template on how to run a discovery call because you close on sales calls 90% of the time. Now you have a template that people would likely buy. It could be a template I just recently purchased or was about to purchase.
In this case, it’s an SOP about onboarding a new team member. So having a template like that saved me, and will potentially save me time. Just think about it, I don't have to create a SOP, it's already created and I can onboard a new team member and hand it off, right? So things like that save people time and energy and so people are willing and ready to buy it.
As far as printables, you could think about recipes. Do you have a list of recipes that you can combine together and create like a printable guide that you could sell to people for a fee of recipes that you've already had that are family recipes that you use again and again that people love to eat from you?
4. Making Video Series
Another passive income strategy as a coach could be creating video series that you would sell as trainings or webinars. So a video series is really simple. If you think about a topic that you want to support people with, you can literally knock that out in one sitting. You put on some nice earrings, put on a nice shirt, make sure your hair is done, and knock out four or ten minute videos and that becomes a video bundle that you can sell.
So for me, I recently created a bundle called Tapping Into Abundance. I was getting a ton of feedback on my Pinterest as well as my YouTube where people were loving my tapping sessions. And so I decided to bundle some of my most popular tapping sessions that I kept for my one on one clients and I bundled those and sold it as a video series. And I continue to sell that even though I've created those videos six months ago. Okay, the key here, if you want to think about how each of these videos might work together as a series and then move forward and create them from there.
And again, something you could repurpose again and again, which I love, you could do the same exact idea with podcasting. I have a client of mine who has a super dope podcast and she gets amazing feedback on her podcast. So what she decided to do is to create a private podcast. And so she took three of her most frequently asked questions, and she made six different videos that she bundled together and she sold that as a bundled audio collection. Okay, I've seen people do this with different meditations or hypnosis or things like that.
Because again, once you create it one time, you don't have to continue to create it again and again and again. People essentially love what you created and then they purchase it. They purchase that hypnosis or they purchase that meditation bundle, or they purchase your audio personal development bundle or whatever it may be. So what you want to think about is what it is that you can help inspire people with as it relates to audio content. Is it something educational?
Is it something inspirational? And then what is that specific outcome going to be for them? And how can you pull that together and create a bundle for them?
5. Creating an online course
Finally, the last passive strategy that I have in mind that has been amazing and has definitely brought me a ton of passive income is an online course.
People love learning, and people love learning online. I recently read that OVER 3 MILLION STUDENTS COMPLETE THEIR HIGHER EDUCATION ONLINE. I remember reading how many people were looking for online skill sets like how do I fix a toilet online, or how do I start a business online, or how do I write a book online? And they were doing all these things. And this is why websites such as Udemy and things like that became really popular, because people want to learn, but people love to learn on demand. This is why websites like Netflix and Hulu and Peacock and things like that are also popular, because people want to have that entertainment or that learning possibility, but they want to do it on demand.
Online courses have been all the rage for me personally, this is how I started off. I created a course called the Book Writing Bootcamp, and I taught it live in the beginning so that I could learn the process of how I was walking and supporting people through the process of writing the book. And after I ran it a few times and I did a few one on one clients, I realized it required more of me to constantly show up live. And I could only take a handful of one on one clients because I had other things I needed to do. So I decided to pull back and take that content and create an evergreen course.
And so this course, at any point, people could jump in, they could join in, and they could learn the same tools that they would have learned when I was taking them through the live process. This course, honestly, I cannot stress enough, changed my life. I don't talk about this enough, but that course, the income I made from that course right before the pandemic, the end of 2019, paid for my daughters and I to go to Paris when I wasn't even making a ton of money or had a ton of time. I wasn't sure how I was going to make a ton of money because I didn't have a ton of time. I was still working a full time job.
I was in the process of filing and going through divorce, so I didn't have a lot of income at that time. And so to bring an income passively was crazy. And then even crazier than that, while we were literally on the top of the Eiffel Tower, I made a sale. And it just showed me that passive income is available. And it really changed the game for me.
I created the content in advance, and that required some intention behind it. It required me to be disciplined and dedicated. It required time. But after it was created, this is something that I continue to sell again and again and again. And since then, I've created four additional courses that are passive because that changed the game for me.
And I share that because that can also be available for you.
How to Create a Passive Income Stream as a Coach, Today
The truth is, passive income can happen, right? We don't have to overthink about the process. You don't have to have some crazy expensive system in place. You don't have to have some special community or some huge following to be able to make it happen.
You don't even have to spend a crazy amount of time on it. You can still create passive income in a way that feels aligned for you. And if you would love to know how to do that, I'm so excited to share that I have officially opened my training called Passive Profits. And through Passive Profits, I am showing you an easy evergreen system which shows you a simple strategy where money can actually grow on trees.
So we're changing the narrative inside of this program.
Don’t forget to grab your seat in this workshop!
With Passive Profits, I'm literally helping you find a simple way to increase your revenue and your reach, and your business without burnout. I'm showing you what content can and should be sold passively. I'm giving you a step by step strategy that you can implement that will help you to avoid the overwhelm in building out this part of your product suite that can supplement the other parts of your business.
I'm showing you why every single service based provider, coach, consultant, healer needs at least one passive stream of income.
And I'm showing you how to turn your training programs into scalable, profitable and passive systems. Right? In addition, I have an amazing bonus called Evergreen Sales and how to make money on repeat. And this is a workbook that will really help you to process and work through that, as well as add the bonus of the EFT Tapping into Abundance bundle that I referenced earlier as I talked about a video bundle that you could also sell.
This offer is a no brainer deal and it's something you will definitely want to grab because once you learn the formula, you can apply again and again and again and you get to make money on repeat with little to no effort from you.
If you are ready to join us, you're done hustling, working too hard, normalizing burnout, burning the candle at both ends, and you are ready to make income passively.
You're ready to make income while on vacation, while at the pool, while on the top of the Eiffel Tower, while in your sleep or wherever it may be, and you're ready to change that narrative with me, then you need to join: https://www.nicolyawilliams.com/passive-profits-workshop
I have been sitting on this idea for probably about a year, and the more and more of my clients that have asked me how I do it, I knew it was time to share and I can't wait to see you there.
