3 Game-Changing Reasons Why Coaching Is the Ultimate Cash Cow When Your Business Is New

Hey Friend!

If you are an online business owner, you started because you wanted to make money. What so often happens though is we can’t seem to create the kind of revenue we were hoping for. We might even get confused trying to decide what direction or service is the best option for us to create income fast because as we know, starting a business isn’t cheap. But today I wanted to show you as simple, budget-friendly way to create a cash cow from your business.

A cash cow is something that produces a profit for you to have more cash to do other things with. So a cash cow is what is going to make you the most money in your pocket the quickest. So what is that “thing” that’s going to be the magic money maker?

Enter coaching!

Let’s talk about 3 game-changing reasons why coaching is the ultimate cash cow.

Testimonial

 “Hi, Stef this is Jeannie Baldomero from the Raising Her Confidently Podcast. My podcast has grown to 47,747 downloads in 9 months with P2P and I launched it in January. I created and launched a brand new course and my revenue has doubled month over month since pitching on my podcast. My business has a marketing funnel I have full confidence in. Podcasting is the way and to me feels like the right way to promote my offerings. I rebranded through the market research, my website page is gorgeous simplified, and all about serving my avatar. I have a clear offering that I am confident to sell. My Facebook page is full of moms who want to be there and were not invited to join. My email list has grown and I’m already seeing conversion. I myself have been transformed and refueled to serve moms of teen girls. “

These results are possible for you too!

This testimonial is proof that it’s absolutely possible for you to grow your online business with podcasting. It’s just so exciting to be in alignment with what God has called you to do and see the fruits of your labor. Imagine if you saw results like 47,000 downloads, launching a course, having a converting website, growing your email list, and having revenue double month and month!

If you want to start a podcast that works to grow your business, helps people find you, and makes them excited to work with you then you need to consider coaching as your next and best service.

 You might think:

• What is my coaching offer?
• What is my course?
• How do I shoot out emails?

All these things are taught step by step simply and strategically with all the accountability and support inside my 6-month group coaching program called Podcast to Profit (which we also refer to as P2P). If you have a podcast in the world, then this is the program for you!

Apply NOW so we can hopefully hear your testimony 6 months.  If you do not have a podcast yet check out this free workshop called Podcast for Growth on how podcasting works to grow an online business and make money online. 

3 Game-changing Reasons Why Coaching is The Ultimate Cash Cow

Coaching is a phenomenal way to create a cash cow in your business. Starting a business can be tough especially if you are trying to figure everything out from scratch. You want to create a profitable business and you want to make money, but it’s probably not working or you have no idea where to start. Maybe you have a business and it’s just not making you any money. 

Now if the word coaching freaks you out, it can be mentorship, guidance, or leading people. But in essence, you are sitting down with someone and helping them get a result that you already know how to get. It’s very simple and easy. It’s not something you need to make into a super big deal. When you sit down to coffee with a friend and you help them solve their problems, you are coaching them.

Coaching is one of the most profitable businesses you can get into when you are new!

Coaching is one of the most profitable businesses you can get into when you are new. I teach this inside Podcast to Profit. I talk about the how and why to start a coaching business as our first source of income because it’s the easiest way to start producing profit and make your company that cash cow. 

Let’s face it, building an online business is not overnight, or super easy, but if you do it right with consistency, discipline dedication, and clarity. Things like knowing what your business is, and working through the fine details- all of which we go through in Podcast to Profit so if you are struggling with that or if you feel a little all over the place, then come into P2P and we will get you zoned in and get you that really big growth.

But let’s get to the 3 reasons why coaching is a cash cow.

Reason Number 1: High-Profit Margins

Coaching typically involves 1-to-1 Zoom/online meetings. This means when you charge, you can charge a premium rate for your expertise and time. Now let’s talk entry-level rates. Inside Podcast to Profit, we typically start your coaching offer at $47/hour. This is when you have zero audience. This is an incredible hourly rate because you are basically getting paid to do market research, learn what your person needs and wants, and practice solving their problems. Over time you will scale those prices as you hit the lid of your demand like when you max on clients. There is a certain criteria we use in P2P of when to raise your prices and how often and all those details. You’ll be able to grow those prices pretty considerably.

When I first started my podcast in 2018, I started around $80/hr for coaching and when I retired about a year ago we were at $800/hr which is absolutely crazy to think about, but it just happened because that was the level of demand there was. It’s crazy to imagine the potential that you will have when it comes to profit margin which is why coaching as a viable option is such a great way to start producing cash when you get started. The best part is you don’t need a huge audience to get started either.

You don’t need a huge audience to make it a cash cow.

Here’s how it can look:

• You start a podcast and do it right using my system
• The audience comes in
• You market the coaching in the way I teach you
• I give you my sales templates
• I tell you how to pitch on the show and everything you need to have people coming in wanting to do calls with you

So you don’t need a huge audience to start securing these calls because I will teach you how to bring in the right people in an effective way.

Reason number 2: Low Overhead

Coaching has low overhead, unlike physical businesses where you have to have infrastructure or inventory or in-person practices like services, or agencies that would require you to pay for staff. Compared, coaching is minimal. It’s you and a Zoom room which is no more than $20/month and your podcast mic which you already have. Basically, it’s zero overhead.

It eliminates the need for all these extra costs. Even course hosting is expensive when you get started if you want to have products that can get expensive as well. This is a great way before you have a lot of extra money to fill up the bank account and to be able to show up and make a premium for your time.

Reason number 3: Repeat Business

Coaching is a cash cow because it is the epitome of a repeat business producer. You get someone to sit with you for an hour for a call and they will want to do it again. Don’t worry I’m going to help you decide what to coach on, what to price it at, and how to set up the back end of the coaching.

But what I found in my business was I had an 85-90% resign rate. If someone did an hour, 90% of those people wanted a package. Then once they completed a package, 40% of those people wanted another package after that. There’s no easier way to create cash in your business than to help someone solve a problem and then they believe in you trust you even more deeply, and want to continue working with you. Repeat business is inevitable if you coach with intention and you solve their problem. This leads to a steady stream of repeat business AND they start referring family and friends to you that need help in the same area. This provides a super stable income source for you because your clients aren’t fickle and they keep showing up and keep resigning with you month over month and sometimes year over year.

I retired from coaching a while ago, but I still have 3 clients on my books who keep resigning and just ask “Please let me resign one more time” and this has been going on for 5 years! Repeat business can be so real and so fruitful.

Start dreaming about what you could offer as a coach.

Open your mind to what you could coach on in what it is that I podcast about. If you don’t have a podcast start to think “What will I help people with?”

Think about that number 1 problem that you’ve already overcome in your micro niche that you can help other people with. Bring that idea into Podcast to Profit with you when you join my 6-month group coaching mastermind program because I will help you refine it and actually create an offer out of it.

I’m Here to Help!

So are you ready to get started?

Then apply to Podcast to Profit. If you don’t have a podcast yet, come apply anyway because we do have a bundle offer that is a really great deal for those of you who don’t have a podcast but want to take Podcast to Profit and get your podcast launched. We have a solution for you!

Hopefully, that was encouraging and gave you insight into why coaching is such a great option. Check out the other blogs and podcast episodes we have so we can dive deeper into all these topics like social media why we don’t need it and how there’s a better way to grow. Starting a business, making money, and growing an audience, all with the foundation of faith!

God bless!

Xo,

Stef

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Before you go, be sure to watch the free workshop!

This free workshop is for you if you want to grow an online business in less time.

It will teach you how to explode your audience without the social media hustle, make consistent sales using a podcast, and plan, record, and launch a podcast with ease!

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How I Built a Six-Figure Coaching Business in Less Than 24 Months

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