3 Steps to More Income by Leveraging Your Time, Energy and Expertise - By: Veronica Lim

When we start out as coaches or consultants, or as another kind of service professional, we trade our time for money. This means that we have one-on-one relationships with our clients and we have to be present in an appointment with them in order to create an income. This is great at the start because it helps us to build our experience and expertise. But over time, it can become restrictive because we are tied to our schedule and the only ways of then increasing our income is to raise our fees or to take on more clients. Both are limited, especially the latter because we only have so many hours in the day to fit in those clients.

What if you'd like to take the ceiling off your income totally?

The good news is that it's possible and easier than many professionals realize. Here are 3 easy ways to leverage your time and energy for more income, an income which is limited only by your own creativity and willingness to extend more offerings to your clients.

(1) Run a workshop or teleseminar

Running a workshop or teleseminar allows you to share what you know with your clients. As a massage therapist, perhaps you could teach a workshop or teleseminar on, "How to Boost Your Health with the Art of Gentle Touch". Or as a coach, you might teach parents "How to Deepen Your Relationship with Your Teen Kid through the Power of Listening".

By running workshops and teleseminars, you move away from the one-on-one model to a one-to-many model. You show up once for that workshop but you are reaching many people at the same time. It also makes it easier for someone to "get a taste" of you before committing to a higher fee service with you because the fee for attending a workshop is less than working personally on a one-on-one basis. In this way, it helps you to open your doors more easily to potential clients.

Priced correctly, you will also increase your income for the same amount of time you spend on running the workshop or teleseminar because you leverage the number of people you reach.

(2) Create an information product

When you create an information product, you invest your time and energy once, when you create the product, but you then get paid for it over and over again, everytime someone purchases that item from you. It is a passive stream of income, which means that you can make a sale even when you're on holiday or asleep. You do this by setting up automated systems that don't need you to be there in order to deliver. But you still get paid - how good is that!

Creating an information product is not difficult. Do you enjoy writing? Do you enjoy talking about what you do? If someone asked you questions, about what you do, could you tell them? What do you feel passionate about that you could talk about it easily and effortlessly? What questions do your clients typically ask you that you find yourself responding to over and over again?

These provide you with the topics around which you can then create your information products, such as an audio set of CDs, downloadable mp3s or an e-book.

(3) Create a membership program

If your subject is extensive, you could create a membership program. You enlist people to join a program for which they pay a monthly subscription that gives them access to your material (benefits) as long as they remain a member. These benefits could be ongoing and new information that they can access by being a member. It may also give them additional benefits such as discounts off other services and products. They can access a membership area of your website in order to get the information or you could deliver it via email.

For example, one type of membership program is where people subscribe for a set period of time to receive an e-course. You deliver the e-course to them through an automated service, let's say, on a weekly basis, for six months, and so they pay you a monthly fee for six months. By automating, you set up the system to run and then you no longer need to be there to make sure that people receive their e-course, because it has already been set up at the beginning.

Because these programs have a continuing element over a period of time, they are also often called continuity programs. It's a great way to smooth out your cashflow because you know that you'll be receiving a certain amount of income each and every month for the duration of their membership. It is also a passive income stream.

So there you have it - 3 easy ways to leverage your time and energy for more income. What's exciting about this is that the same subject can be used as the main topic for each of the 3 ways - the workshop or teleseminar, the information product and the membership program.

YOUR TURN

Think about what subject you would enjoy sharing with others. Start with an easy topic for you and begin to flesh out what you might share in a workshop. Then go from there and you'll soon be on your way to creating new and passive streams of income, freeing yourself up to more time to do other things you love, while taking the ceiling off your income potential.

About the Author

(c) Veronica Lim. Veronica Lim coaches and provides strategies for coaches, consultants, and other service professionals who are ready to have more business, more time, more money and more fun, by leveraging their energy, time, passion and expertise. Sign up for your free Success Kit now, at http://www.veronicalim.com

Article Directory Source: http://www.articlerich.com/profile/Veronica-Lim/50857

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