“Make money while you sleep!” – we’ve all heard of the joy & amazement that is “passive income”, right?
“Make money while you sleep!” – we’ve all heard of the joy & amazement that is “passive income”, right?
AKA: Selling offers that don’t require any “live” interaction or maintenance, and can be sold totally passively (like self-guided courses, ebooks, and guides).
Listen, I’m no mathematician, but I *do* crunch the numbers for my clients regularly. ??
Because if they want to be successful (and make good money), the math needs to be matching ??
For example: Let’s say you want to create a low-ticket course or recipe guide – something you can sell passively – and you’re SURE this is how you’re gonna get rich.
? Reality check: That is HIGHLY unlikely unless you have a MASSIVE following.
Let’s do the math…
???? Your goal: Make $50k in a year selling a $27 course.
???? To do that, you need to sell 1,851 courses during the year, which = 155 per month.
???? This means you should have an audience of at least 4,000-6,000 people – to begin with.
But you need NEW eyes on your offer each month, so you should also be growing your social media following RAPIDLY – either organically or by running ads (which I do NOT recommend for newbie coaches).
???? Meanwhile, you COULD be selling 1:1 coaching for $400 per month…
And guess how many seats of 3-month coaching packages you’d need to sell to hit $50k?
Only 42. ??
So, what makes more sense to you? Trying to find 1,851 buyers… or 42?
“But Lynette, it’s SO much easier to sell lower ticket offers than high ticket coaching!”
Actually - it’s not.
People are STILL MORE willing to hand over $$$$ for a high-level coaching solution, than they are for a $27 guide with information they can probably find for free on Pinterest ????♀?
And if you’re finding they’re not buying high-ticket coaching from YOU… that comes back to effective marketing, my friend (as it usually does ). ??
Thoughts? ??
#leadershipdevelopment #personaldevelopment #employeeengagement #passiveincome #businessowners #coaching