Recurring Income from Coaching

 Recurring Income from Coaching

Recurring income is a wonderful thing to have—especially when you’re building life changing income as someone offering coaching for life or business related topics. It’s hard to get new customers—you know that as a businessperson. It’s much easier and much more ideal to have the same customers pay you over and over again.

That’s exactly what can happen when you focus on recurring income from coaching. You’ll find coaching clients, win them over, hook them with a fantastic, long-term coaching plan or program, and they’ll pay you over and over again.

As a coach, you provide a wonderful service. People pay you to learn what you know. They pay to get access to your unique insights for their life or business. They’re also paying to tap into your experience, including your prior failures, so that their path to success is easier and quicker.

Sometimes, coaching is a one-off thing. A client will hire you as a coach and pay you one sum of money in exchange for help in reaching a particular milestone or help in resolving an important problem they have.

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That’s a great arrangement. It feels really good to help people in this way. You’re truly contributing to their life and success in some important ways. Being a coach can be extremely fulfilling. You’re giving back and earning a great income doing it.

But, is that all there is? Should you have to struggle to get new coaching clients time and time again? I don’t think that’s necessarily what you want. There’s an even better, potentially more lucrative coaching business model to focus on. What is it? It’s earning recurring income through coaching.

As I mentioned before, it’s much better to get the same clients and customers to pay you over and over again than it is to find new clients each time. Don’t get me wrong—it’s great when you do get a good one-off customer or client who pays you well.

But, what’s even better is when clients pay you over and over again. It’s great when you earn an income without having to focus on marketing and the struggle of wondering where in the world your next client is going to come from.

Sure, this all sounds great… but will the same clients really be willing to pay you for coaching over an extended period of time? Will they be okay with paying you for coaching every single month?

These are all great questions to ask yourself. The number one thing, of course, is to figure out what people in your niche are desperate to learn or do and what they’ll be willing to pay good money for.

If you already offer coaching, then this is probably all figured out already. You just need to tweak or add to your program to get people coming back for more. If you don’t have things figured out yet, then it’s time to do some research and soul-searching ahead of time. Then, you can figure out how you can turn the coaching leg of your business into a successful, recurring income business model.

Transform Your Coaching To Earn a Recurring Income

Structure your coaching program in a way that will encourage people to pay you over and over again—happily, because your advice is giving them a positive return on their investment.

Maybe that just means meeting people where they are and growing your program as they grow. Your clients will eventually want to turn small goals into bigger goals, and you can get right there along with them.

Or, maybe you can offer coaching to the same clients on a different topic each month. That can get people interested and keep them paying. Or, perhaps you can offer tiers of coaching—beginner all the way through to advanced. That can keep your customers active and engaged at all levels. You’ll be there for them all the way through.

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Your coaching is something that can and will grow and change over time. Switch your mindset from the possibility of getting clients to pay you for coaching one time and figure out what you can offer that will have them paying you over and over again.

Getting Paid—the Recurring Way

Now, how are you going to accept payment? There are a couple of different options here. You can simply have your clients sign up and pay manually each month. Many will be wiling to do that and you can simply invoice them.

But, it might make more sense to ask your clients to sign up for recurring billing. That way, they don’t have to think about paying you and you don’t have to think about getting paid—it just happens on autopilot.

You can set this sort of automated billing up using PayPal or whatever payment processor you prefer to use. JVZoo and other sites make it easy to do this as well, while using PayPal.

Getting Clients to Stick Around Month After Month

You have to make sure you’re providing enough value so people will want to stick around. That means really wow’ing them with your content, experience, and insights.

Share what you know and what you’ve learned. Test and tweak new things right alongside them.