April 12, 2022
Coaching can be a wild ride and, let’s face it, sometimes those rainy days come around more than we’d like. In this post, I’ll share how I’ve set up three simple streams of passive income that stack up to over £10,000 a month, most months, all while focusing on my main coaching work. No wild schemes, no endless hustle, just things any everyday coach can actually do.
It took me a year, a whole year!, to figure out the first dead-easy trick: don’t let your business cash just sit there doing nothing. Even if you only have £5,000 or £10,000 in your business account, this can turn into a steady stream of bonus income with almost no effort.
Here’s what I changed:
Example:
It doesn’t sound mind-blowing, but if you’ve got the cash lying around for taxes or a rainy day, why not earn a little? All the small numbers add up and, honestly, it feels like free money.
Now, before you groan, hear me out. You’re probably already recommending software, tools, or even events to your clients. Why not get a little thank you from those companies in the form of affiliate payments?
The important thing here is to only recommend things you actually use! No dodgy products just for a quick buck. If you use a bit of software every day, check their site for an affiliate or partner programme. If you speak at events, sometimes you can earn a bonus for bringing in more attendees.
Quick steps:
It’s not about doing weird or awkward sales pitches, it’s about being rewarded for the recommendations you already make.
The last one’s a bit more work, but it does pay off in a big way over time. Most of us already have bits and pieces that can be turned into small but steady money-makers.
What counts as an asset?
Here’s what I’ve done:
A table for the assets-turned-income idea:
The dream is to get your regular business costs down so that your main coaching income becomes pure profit. And you don't even have to build anything new, just repurpose stuff you've already got. If you've never written a book, maybe just start by bulking up something you’ve made already. If writing’s not your thing, look at old resources: there’s probably value in there you can turn into cash with a few tweaks.
So many coaches overcomplicate passive income. I know, I used to. But now? Just focus on:
No magic formula. No wild promises. Just three things you can do this month to earn a bit more without breaking your back. You might not notice it at first, but after a year? It adds up.
You don't need a huge amount to begin. The article suggests that even having £5,000 or £10,000 in a business savings account can start generating a steady stream of extra income with almost no effort.
No, it's quite straightforward. The process involves listing the tools you already recommend, finding their affiliate or partner programme, and then using your unique link when you suggest them to clients. It's about being rewarded for authentic recommendations.
You can monetise a variety of materials you likely already have. Think about old lead magnets, checklists, guides you've made for clients, or even your collection of blog posts. Your business website itself can also be an asset through content partnerships.
The first two ideas, earning interest on cash and affiliate marketing, require very little ongoing effort once set up. Monetising existing assets, like turning a guide into a book, involves more initial work but can pay off significantly over time with minimal maintenance.
The article shows it's possible by combining several streams. While results vary, the focus of these "Three Surprisingly Simple Ideas" is to build steady, cumulative income that reduces business stress and increases your financial options over time.
