6 passive revenue streams to increase your income

As a coach, practitioner, or therapist your primary income likely comes from one-on-one or group coaching sessions. And that’s absolutely wonderful if it’s working for you.

However, if you’re feeling a little burnt out or craving some time away from your business (without sacrificing your income goals), you may want to think about 1 or more passive income streams to grow your business.

Diversifying your income streams can help you scale your business and create more financial stability. It can also take the pressure off when LIFE STUFF HAPPENS. Things like illness, burnout, pregnancy, maternity/paternity leave, bereavement, caretaking, family vacations, hospitalizations, cold and flu, migraines, PMS… I mean…. it all happens!! Why not set up your business where you don’t have to worry about finances when this stuff comes up.

So here are five passive income streams that can complement your coaching services and help grow your income:

1. Online Courses

My absolute favorite!! Creating and selling online courses is an excellent way to package your expertise and reach a wider audience. Whatever you repeat over and over again to clients is great content to add into a course.

• Benefits: Scalable, high-profit margin, establishes authority

• How to start:

  • Identify your most popular coaching topics

  • Break them down into manageable modules

  • Record video lessons and create supporting materials

  • Use platforms like Kartra, Kajabi, Squarespace, Teachable, Thinkific to host and sell your course.

• I personally use and recommend Kartra! You can signup using my affiliate link here.

2. A low-cost paid Workshop or Masterclass

Put together a meaty topic that your audience needs help with and sell it as a low-cost paid pre-recorded masterclass or workshop. Deep dive into a tangible topic that will have them feeling inspired afterwards. Price it at $47-$197 to gain passive income throughout the year.

• Benefits: Low production cost, easy to make, builds credibility, can then upsell your more expensive coaching programs and courses, it gets your audience used to your teaching style and hopefully wanting more!!

• Ideas:

  • 1 hour masterclass on a nutrition or coaching topic that your audience NEEDS help on.

  • 3-day 20 minute workshop delivered via email (all pre-recorded of course!)

3. An online Membership, Lounge, Hub, or Club

Create a membership site where clients can access exclusive content, resources, and community. I like to call this “less passive” because a membership may require more ongoing effort than say, a pre-recorded masterclass or course. But it can still provide tons of benefit to members and you may need to only show up with new content a few times a month. Sounds pretty great, right?

• Benefits: Recurring revenue, fosters community, provides ongoing value

• Features to include:

  • Monthly live Q&A sessions

  • Exclusive content library

  • Member forums or discussion boards

  • Discounts on your other products or services

  • Connection with others

• I personally use and love Kartra for my tech membership hub! You can signup here with my affiliate link.

4. Digital Products

Examples can be: roadmaps, templates, digital guides, handbooks, step-by-step workbooks

• Benefits: Quicker to make than a course or membership or workshop.

• Best practices:

  • You need more volume to make a significant amount of income, so even better would be to turn your workbook into a workshop or course. But you can start with a low-cost digital product to see if there is a need in the market first!

  • This can be an easy low-cost resource to make your content accessible to a wider audience.

  • Create in Canva and download as a PDF. Sell on your Instagram, Stan Store, or Website!

5. Paid Video Library / Hub

Similar to a membership, but it can have less “ongoing maintenance” once it’s built. Your members can pay to have access to the content and when they no longer need it, they can cancel. This is great for learning tech, learning a skill, or learning a process.

• Benefits: Builds brand awareness, showcases expertise, less ongoing maintenance compared to a membership

• Content ideas:

  • "How-to" tutorials

  • Expert interviews

  • Case studies

  • Quick tips and advice

• I personally use and love Kartra for my tech membership hub! You can signup here with my affiliate link.

6. A Paid Private Podcast

One of the newer passive income strategies that not everyone is doing!! A paid private podcast can be a revenue stream that gives your audience exclusive access to you. Add a new podcast episode 1-2 times a month and allow them to binge former episodes. To keep access, they need to pay a monthly fee. You could also monetize through ads or sponsorships.

• Benefits: Builds brand awareness, showcases expertise, recurring revenue, exclusive content, builds trust and deepens relationships.

• Content ideas:

  • "How-to" tutorials

  • Expert interviews

  • Case studies

  • Quick tips and advice

• I highly recommend HELLO AUDIO as your private podcast platform of choice. You can signup here using my affiliate link.

Remember, while these income streams are considered "passive," they do require upfront work and ongoing maintenance. The key is to create valuable content that aligns with your coaching expertise and serves your target audience.

As you build these income streams, you'll not only increase your revenue but also expand your reach and establish yourself as an authority in your field.