As a business coach, I have experienced the ups and downs of the coaching industry firsthand. One of the most valuable lessons I’ve learned is the importance of having a passive income stream. This additional source of revenue has not only provided financial stability but also allowed me to focus on delivering high-quality coaching without the constant pressure of client acquisition.
When I first started my coaching practice, my income was solely dependent on the number of one-on-one clients I could attract and retain. This often led to periods of financial uncertainty, especially during times when client demand fluctuated. By developing a passive income stream, I created a safety net that provided consistent revenue, regardless of the ebb and flow of my active coaching engagements.
For example, I began by creating online courses and e-books that clients could purchase at any time. These products generated income without requiring my continuous effort. Knowing that I had a steady stream of passive income gave me peace of mind and allowed me to make more strategic decisions for my business.
With the financial cushion provided by passive income, I found that I could focus more on the quality of my coaching rather than constantly chasing new clients. This shift in focus allowed me to invest more time and energy into developing comprehensive coaching programs and providing the most up-to-date business strategies.
One of the turning points in my coaching career was when my wife Pam and I, together with our business partner, launched our revolutionary business coaching platform and program. This comprehensive and state-of-the-art program not only provides business coaches and consultants their own passive income vehicle (ProfitUniversity™), but also helps them create a steady stream of qualified business owners’ leads, convert a significant portion of those leads into well-paying clients ($440-$1,170 per hour or $24,000-$64,000 per year), and assist those coaches in navigating the challenging process of putting business growth plans into action.
We are Business Growthology™. Our coaches help business owners DOUBLE or even TRIPLE their net profits while spending little to no additional money on marketing or advertising to do so. We provide our Business Growthologists™ with a way of showing business owners a clear ROI of working with them BEFORE they hire them!
We train our business coaches not to rely on referrals and social media for their leads. We have several proven methods that allow our advisors to consistently and predictably generate as many leads as they can handle. But maybe more importantly, our method has business owners willing and eager to meet with our advisors.
We provide you with our very own state-of-the-art PROFITUNIVERSITY™ platform. It was designed to provide you with the option of “enrolling” struggling business owners into a “self-guided”, DIY coaching program where they can receive access to the strategy videos and workbooks our advisors use to train, teach, and coach their one-on-one and group clients to build successful and highly profitable businesses. And best of all, our business center handles all the administration for you… so this program is totally hands-free for you. Just 20 clients enrolled in the DIY program can result in $4,000 a month or $48,000 a year in passive income.
Relying solely on personal business coaching for income can be risky. Economic downturns, market changes, or personal circumstances can significantly impact your ability to maintain a steady client base. Having multiple streams of income diversifies your revenue sources and mitigates risk.
Passive income is not just a financial strategy; it’s a pathway to greater stability, freedom, and growth for business coaches. My journey with passive income has transformed my coaching practice, providing the financial security to focus on quality, scale my impact, and navigate challenges with confidence.
Scott Lippitt has over 25 years of experience in marketing and advertising for some of the biggest brands in the US, such as Progressive Insurance, Black & Decker, Hallmark, Hershey’s, Arby’s, Dunkin’ Donuts, and Old Spice.
Fifteen years ago, he and his wife Pam got tired of turning millionaires into billionaires (or at the bare minimum, multi-millionaires)… ‘they weren’t that grateful nor were they that generous!” So, they turned their attention from helping Wall Street to helping Main Street.
Now, Scott Lippitt works with small business owners to help them double and even triple their profit while spending little to no additional monies on marketing to do so. He also offers a program that provides advisors, consultants, and coaches with the tools, training, and support to generate a consistent flow of qualified leads and predictably convert those leads into high-paying clients ($440-$1,180 per hour!) To learn more or to contact Scott, go to www.businessgrowthology.com or email info@businessresultants.com.