Effective business coaches view companies with fresh eyes, pose key questions, and help owners craft growth plans. Think of a business coach as your insider info broker, sifting through what works and what doesn’t to shape your company into a money-making venture.
If you run a business with an online presence (which every business should have!), there are many hands-off ways to add revenue streams to your arsenal. These methods can boost your earnings while you focus on your current members. Passive income is a great way to improve your bottom line as you actively promote your business. You’ve put good money into your business and website; why not make them work harder for you?
1. Affiliate Marketing
Affiliate marketing is an easy way to earn commissions by suggesting products or services to your audience. It’s like telling a friend about a great restaurant you found. Just join the product’s affiliate program and add a special link to a product review on your blog or a page listing business tools you recommend.
When someone clicks your link and buys the product, you get a commission. You can also add affiliate links to eBooks or other digital products you sell. But remember to check the Terms of Service for all social media platforms before posting affiliate links, and be sure you’re not clashing with regulations from the FTC. An affiliate marketing training course can help you navigate these waters safely.
2. Upsells
Adding upsells to your sales funnel is another opportunity to bring in extra money that too many content biz owners miss. Do you have a basic sales funnel that offers something to your broad audience, then provides more focused, pricier options over time?
These additional offers guide customers down the funnel toward your most expensive product. For each main offer in your funnel, think of an upsell your customer would find valuable. It could be free access to your private Facebook group or perhaps a report, checklist, form, or eBook for a small fee that’s an easy add-on to their order.
For your pricier offers, include a more expensive upsell, like a trial period in your membership site. The key is to choose relevant upsells that will help your customer and make sense with the initial purchase. In other words, don’t create an upsell that doesn’t fit.
3. Streamline Your Operations
Streamlining operations is crucial for all businesses, whether they’re online or not. A business coach can objectively evaluate your workflow and suggest ways to enhance customer service, billing, and order fulfillment, among other areas.
Often, business owners are too close to the issues to see how things connect (or don’t). It’s like having someone else proofread your sales copy; they’re more likely to spot errors because they didn’t write it.
Business owners often struggle to see the big picture, much like writers missing typos in their own work. A fresh perspective can reveal inefficiencies and opportunities for improvement that may have been hiding in plain sight.
Want to try adding a passive income stream to level up your bottom line? Join me on October 30 for a free live training on Affiliate Marketing Basics.
