It feels like everyone in the online space is becoming a coach. There are a number of reasons for this: you can share your expertise, build authority, help other people achieve their goals, and make great money.
Really Great Money
When I began The D.O.N.E. Society, the original idea that I had was to eventually become a coach. This wasn't a stretch as I spent the past 10 years of my life working with people and connecting them with resources to make their lives better.
As I began working on growing TDS I noticed that I loved connecting with group members but the idea of one on one coaching as a part of my long-term earnings plan became more and more unappealing.
In retrospect, this should have been a surprise. What I loved doing in my old job: meeting people, helping connect them with great resources and cool events I was recreating in my business model. What I accidentally added to my business was the one thing I didn't enjoy in my old job: having to always be available.
When I began thinking about working for myself the number one goal that I had was to grow my passive income but it was very easy to get distracted by the numerous other ways there are to make money online.
Coaching is Not for Me
One-time webinars, one on one time in my groups, and special events are great. Coaching people on a weekly basis just won't work for me because it's too close to what I used to do before.
So how on earth do I plan on monetizing while growing a community...but not offering ongoing coaching? Fortunately, there are a ton of ways to do this.
- Short-term courses
- Membership site
- Affiliate income
- Sponsored content
- Joint Venture Collaborations
- Online content
- Podcast sponsors/podcast ads
- Public speaking
I will be frank and say that all of these ways of making money are very appealing but that my favorite ways to make money involve passive income.
It's a bit addictive.
I love helping people and then when I'm done for the day, signing off and waking up in the morning with cash in my account. Moving forward I will focus on serving the people that I'm helping via:
- The D.O.N.E. Society
- Colorado Luv Hub (my Colorado niche site)
- The Shop My Closet Project (my personal finance site)
In order to earn more, I need to serve more. I will focus on that and work to help as many people as I possibly can.