One of my coaching mentors has been privileged to work with a variety of “experts” over the last few years – helping them leverage their knowledge into real businesses. But here’s a common theme I noticed from his discussions about coaching these experts:
“Authors want to write books, speakers want to speak and coaches want to coach.”
However, if you select one and only one, you will likely be frustrated with the results of your business.
What I also took note of from our discussions was while he’s coaching these variety of experts they seemly became frustrated not because of their knowledge in their expertise, but because they have a hard time getting awareness and visibility for their expertise and then turning that expertise into intellectual property.
If you are a great author but know nothing about speaking, coaching, doing seminars, consulting and selling your own product, then you will have a limited message and will bypass millions of dollars and the time freedom that’s available to you.
If you are an awesome coach but you’ve never captured your particular expertise in teleseminars, workshops, ebooks, and instructional manuals, you will wear yourself out trying to get just one more client this week.
If you speak with passion and move your audiences to action, but have never taken the time to learn online marketing, you will be destined to a life in airports and hotels and miss the daily life with your family.
If you are the world’s best pediatrician but increase your income only by herding 30 more babies into your office this week, you will die of exhaustion and miss the lives of your own children.
Only by creating multiple streams of income will you be able to have a stress-free, balanced and profitable business.
If you’re an author, speaker, coach, consultant, or professional here are some ways to create multiple streams of income from turning your expertise into intellectual property:
- Obtain speaking engagements.
- Coaching/Consulting sessions.
- Develop a seminar/workshop.
- Sell digital audio products.
- Write an eBook.
- Create an instructional manual.
- Create a monthly subscription membership.
- Create a conference.
- Sell personality profiles.
- Develop a tool kit.
- Create a coaching 101 online program.
- Teach a class.