Forbes released its list of top richest people in the world and someone new made it to #1. He’s not an oil tycoon and he didn’t develop some super sophisticated software either.
He owns clothing stores.
Tons of people own clothing stores. Yet his has made him the richest man in the world. He took something that he knew a lot about and turned it into a super successful empire.
Now, what if you could do something similar?
Take what you’re really knowledgeable about…
Something that just comes automatic to you…
And teach it to others WHILE enjoying a new stream of income too…?
If that seems like something that you’d like to know more about, then keep reading because I’m about to give you the low down on one huge way to do it. It will be a great addition to your coaching business. In fact, when I started using it I saw my business scale from a quarter of a million to almost a million in a short amount of time.
I believe every coach should take advantage of info products.
Maybe you’ve heard of them.
These are products that you see where people have taken what they know and turned into a way to teach or inspire others, such as what I do with Free Sessions That Sell. It’s as simple as taking information that you already know (like a hobby, or skill) and creating things that people can consume them with.
Info products may come in the form of membership programs, books, audio programs and video programs.
I recommend every coach has at least one for 3 main reasons…
#1 – They are a great way to spread your message further – faster.
I remember in my early years as a coach I was teaching a lot of the same stuff to different people. I thought… what if I could have a shortcut way to get all this information to everybody. Info products allowed me to do that. It allowed me to take information that people wanted to know and get it out without me having to do it with everyone one by one. Plus, I could reach more people and not just my 1-on-1 clients.
#2 – Great way to increase your income.
Info products can increase your business income because you can get your message out further without having to rely on just 1-on-1 coaching. Think of it this way…. If a singer had a song and performed it to only one person, they could only make money from that one person. But, if they took the song, recorded it and sold it online, they’d be able to reach far more people than they would if they were just singing it individually to every person they encounter. Info products are the same. You are able to take your knowledge and skills and teach it or relay it to more than one person faster. That alone will boost the income of your business.
#3 – Passive income.
Imagine how awesome it is to make money even when you’re not working! I remember when I saw people in our industry doing these kinds of things and making money while they were sleeping, I knew I had to get in on it too.
Before you can get started with an info product you need an idea. If you already have an idea and wonder if it’s good enough, check out this video that my mentor, Eben Pagan just released. I’ve learned much of what I know today about info products from him.
It shows you how to get started with finding your big idea to turn into a product that will sell very well.
I can tell you now that you are probably sitting on several great ideas already. Much of what you’re helping your clients have breakthroughs with is a great start.
I hope this gets the wheels turning in your head of all the endless ways you can make a bigger impact in your business and make passive income. Go ahead now and watch the video that I suggested. It’s so inspiring. Then come up with 3 to 5 ideas you can turn into an info product (don’t forget to share them in the comment box).
Next time, I’m going to share with you two mistakes that coaches make (just in case you’re one of them) that prevents them from ever getting starting with their own info product.
I’m not promising you’ll become the richest person in the world, but you will have a great chance at making a lot of more money, living your passion and helping others.
Are you ready to create your big idea? Leave your comments below.