More effective than online courses to help someone leverage your experience and knowledge is personalized one-on-one coaching or consulting. This is where you meet regularly to customize and tailor your knowledge and experience to help each client’s needs at the time, when they need it.

This article is an excerpt from our eBook which is available on Amazon Kindle.

What To Sell

You are selling your expertise! But not in a pre-boxed book or online course, rather through personal and interactive coaching or consulting sessions.

How to Get the Products

YOU are the product, however you will likely want to spend some time “systematizing” some of your experience into digestible lessons for your clients. Plan to have a road map or something for them to follow but be prepared to adjust on the fly depending on their needs.

Clients are hiring coaches and consultants for business, finances, fitness, mental health, nutrition, etc. Just be aware that even if you have expertise, there may some industries that require certifications in order to operate as a coach or consultant.

How to Get Customers

Don’t underestimate word of mouth in your own social network, however most Entrepreneurs who are coaching or consulting are advertising with Facebook ads, Google AdWords, and YouTube ads to find clients. Additionally, starting your own Facebook group and providing value is a way to attract clients.

Advantages

Coaching and Consulting are great ways to get paid for the knowledge already inside your brain without having to spend a lot of time putting it on paper and recording as a course, hoping you hit the right points. After 20 years in your field it may take too long to create courses of everything you know, but on demand your clients can tap into that knowledge right when they need it.

Also, as with most service business models there is not much upfront money or time involved other than advertising your services to find clients.

Disadvantages

Coaching and Consulting often can command hundreds of dollars per hour. In that case the decision to hire you becomes a lot harder for your clients, and therefore they need to KNOW, LIKE and TRUST you. That often leads entrepreneurs into building sales funnel to develop and nurture the relationship with potential customers until they are comfortable to buy from you. That is where Click Funnels as a platform comes in handy.

Risks

As with many service businesses, the biggest risk is clients don’t want to hire you for the specific services you are offering. In many cases you need to think about how to define your expertise in terms of solving specific problems that your ideal client is likely to encounter. For example, it may be hard to stand out as a personal trainer, but if you become known as the person to help new moms get back to their pre-baby fitness despite having limited time to work out, then you can stand out in a crowded market.

Money Needed to Get Started

$200-$400 for a website platform, including Click Funnels, and initial advertising budget.

Expected Profit (% of sale price)

50-75% depending on how well your marketing funnel is working.

Resources and Examples

Third-party links and resources. Commissioned links below.

Click Funnels

Article: Facebook Ads for Beginners

Article: YouTube Ads for Beginners

Article: 7 Steps To Build A Thriving Online Coaching Business

This article is an excerpt from our eBook which is available on Amazon Kindle.

Disclaimers

IMPORTANT NOTE ABOUT THE AUTHOR: Earnings and Legal Disclaimers: The author is a professional 20 year entrepreneur and his results are not typical. His experiences and those of his examples and students are not typical and not a guarantee you will make money. You may make more, less, or the same. There is risk of losing money in every new business. Individual results will always vary and yours will depend entirely on your individual capacity, work ethic, business skills and experience, level of motivation, diligence in applying information, the economy, the normal and unforeseen risks of doing business, and other factors. Additionally, the author is not a lawyer, CPA, or CFP and does NOT offer legal or financial advice. The author is not responsible for your actions. You are solely responsible for your own moves and decisions and the evaluation and use of information should be based on your own due diligence. Unless otherwise noted, all photos courtesy of Pexels attribution free license.