The ConnectedCoach Podcast

4 Myths Stopping Coaches from New Revenue Streams

In today's modern coaching/training world it's never been more important (and simple) to create multiple revenue streams.

That being said though - coaches continue to believe in myths (aka make excuses) that are just too easy to overcome.

In this episode, we talk through them so that you can make the key moves necessary to get your business to the next level.

If you like what you hear please check out our free education HERE or start your free CoachNow PRO trial HERE.

See ya next time!




Have you been looking at alternative sources of revenue or essentially extra sources of revenue, but haven't quite been able to pull the trigger thousands and thousands of coaches have come to us over the years. Always looking for that extra information, that extra motivation to get them over the hump and what we've landed on here.

And I wanted to share this with you now is that there's these myths that coaches continue to tell themselves and exacerbate this problem of never getting. So we here at the connected coach academy really want to make sure that you as coaches have the opportu. To de-risk your business have multiple sources of income and hopefully move to passive income.

So let's get into it.

So let's start off with the, the most prevalent myth across all of the coaching and training industries. And that's that you don't have enough time. And the reality is you don't have enough time because you are selling your time. You're coaching too much, and that's kind of how you're maybe perceiving it, but it's because you are selling your time for money.

Your business model doesn't have a lot of leverage in it. So therefore it's very difficult to carve out extra time. To build your actual business because you're always delivering this coaching experience. Now the reality is though you always make time for what's important. So let's talk about, uh, a pretty good example here.

So if you're a kid, if let's say you're a parent, let's start off there just to make sure that we're on the same page. So if you're a parent and you son or daughter comes in and they have a, a dramatic injury and you're in the middle of coaching or in the middle of doing so. You are gonna stop everything you're doing and attend to that injury.

Maybe take them to the hospital if that's what's necessary. So why do I say that is that you viewing you're viewing that injury as the most important thing to handle right then and there. So you're gonna absolutely take care of it. So I'm asking you to treat your business as seriously, look at the opportunities ahead of you and stop making excuses around not having enough.

if you continue to do that, you're gonna continue to be stuck and you're never gonna really break outta that pattern. And de-risk your business, and you're definitely not gonna create new sources of revenue. So let's get into the second myth and that would be lack of direction. Now, this might feel true to you.

As I say this, Hey, I don't know what to do. I don't know how to. and yes, that may be true in this moment, but if you look around, there is a plethora of information. And my suggestion to you is to find a mentor. So it's never been easier to create digital products and create some sort of online business, uh, and alternative sources of revenue.

It's just the information is there. And I would suggest that you look for a mentor. We'd be happy to help you at the connected coach academy and at coach. Now, if it's something you're interested. But whether it's through us or someone else, please don't use lack of direction as an excuse any longer because the information is there now, as we're going through this, you might start recognizing that while these might be called myths.

Uh, it, a lot of these are just excuses that you are giving yourself. They're reasons why you're not getting up and taking action. And one of those would be motivat. I want to, I need to, if only you're just kind of kicking the can down the road over and over and over again, instead of taking action, that is the number one thing.

And I think, honestly, that is the number one skill that I have that maybe has put me in the position that I'm in today is that I don't, I carve out the time for sure. I look for the resources to, to learn what I need to. But once I'm there I take action probably before most of you would, or even before I should I start putting things in play immediately.

And I think there's, again, you're gonna learn a ton through us and through other resources along the way about the business of coaching, the industry itself and how to, you know, change your business models and create new revenue sources. But really no matter what you learn. You've got to put it into play.

I cannot stress this enough. Take action. Even if it's a super small step, make sure you're moving forward and, uh, putting things into play. As soon as you can. The last myth here is confidence. We bump up against this every single day as we mentor and coach coaches around the business side of things, or even just the technology side of things.

They're always saying, well, you know, I'm just a coach. I need more information. Uh, who would even buy this from me, but the reality is, is that people love you. You are in the business of helping people achieve their passion. So you've got a huge, huge leg up. And the other is, I wanna remind you if you've been following along at all with anything that we're doing.

Is that you need to position your mindset as an entrepreneur and a coach. Second start making decisions from that point, build confidence from that point, focus on your business as well as just kind of the tactical and technical part of your coaching practice. But believe it or not, as I've said, you are more primed to be successful than just about anybody.

There is a huge wave of people trying to become coaches or build some sort of online business, but they've actually never coached anyone. So if you're watching this, it's incredibly likely that you're already, you're already in the business of coaching. You already have a moderately or highly successful high touch coaching business.

And you're watching this video, cuz you're curious about these alternative sources of revenue. so in that case, you already know what people want. You've helped them. And now it's just about packaging it and presenting it in a different way and you are gonna learn by doing it. So let's review here, time.

You're gonna make time for what's important. So let's make sure that you view de-risking your business and creating more sources of revenue as important, lack of direct. Find a mentor. Find the education. We provide that here at the connected coach academy and coach now. So we've got you covered at the very least motivation stops sitting on the couch, stops thinking about what if and take action that is the key.

You just start putting things in play and everything will be right. And lastly, let's improve this confidence. You are already in the business of helping people and now let's help more people by be creating more offers and more products. And you're going to learn by doing it. All right now that we've recapped everything.

If you are watching this on YouTube, please leave a comment below. Let us know some of the things that you're struggling with so we can jump in and help you out. Also, please head over to coach We've got tons of resources there and you can subscribe to, uh, our, our weekly newsletter to get.

A lot of stuff kind of dropped into your inbox. You can also head over to coach and kick off a free trial of our software free seven day trial, no credit card needed. So again, if you're on YouTube, thanks for being here, please like comment, subscribe. That would be great. And then if you're listening to this on any of your podcast apps, please, uh, follow along and share the episode with some of your peers, because we are here to help as many coaches and trainers as we can.

Break out of this treadmill, stop selling time for money and create new sources of revenue through technology and by providing you a ton of education. So thanks again for tuning in and we will see you next time. Cheers.