12 Ways Coaches Can Create Multiple Revenue Streams

Expert Panel® Forbes Councils Members

The most successful businesses are the ones that are adaptable, versatile and rely on multiple revenue streams to turn profits. At first glance, it may seem as if a coaching service only has one possible revenue stream—consulting with clients—but if you dig deeper, there are plenty of ways to generate additional income through a coaching practice. 

From investing to creating products and everything in between, you can create more paths to earning revenue with your coaching services. It just takes some creativity and careful planning. Below, 12 professionals from Forbes Coaches Council share how they have created multiple revenue streams in their own practices. 

1. Focus On Helping Clients Rather Than Yourself

One way I generate additional income streams is by consulting to help my clients find a franchise opportunity consistent with their goals or simply diversify their portfolio by investing in an established franchise. The second way is by helping successful, local businesses turn their business into a national brand. Focus on how you can help your client rather than yourself, and it might just reveal what the new income stream could be. – Eddie Rodriguez, The Franchise Tailor

2. Become A Course Creator

I have created multiple streams of revenue for my coaching business by becoming a course creator for nonprofit founders at various levels of entrepreneurship. My masterclass takes them from “employee to entrepreneur,” and my mastermind takes them from “entrepreneur to enterprise.” Finally, we have a leadership retreat for CEOs. – Kamila Brown Washington, LevelUP Entrepreneurs, LLC

3. Use Software To Design Strategy

Coaching is a combination of science and art—accordingly, I use software to help diagnose and design good strategies. While I certainly have decades of experience, using software helps check my thinking, and especially my bias. Thus, I earn from software licenses, one-on-one coaching, team coaching and training that leverages art and science, as well as workshops. – Ben Levitan, Cedalion Partners

4. Develop A Few Core Products

I have a few core products, yet they all revolve around the same core audience and “need” that women have. I’ve also identified what should be done “live” and what can be automated so that revenue streams can be scaled. – Jacqueline Hawk, Soar Coaching and Consulting

5. Combine Requested Products And Services

My revenue streams are a combination of products and services my clients have asked for and what I personally enjoy working on. I love to write and create, so books and workshops are a natural fit. My mastermind group started when clients expressed interest in collaborating with each other. I started a podcast because I enjoy learning from others and creating value for my customers and clients. – Brian Bartes, LifeExcellence

6. Offer Variable Price Points

My coaching service operates across three price points, making it accessible regardless of budget. This has created multiple revenue streams that are not all based on my presence, but more on my ability to see a need and respond accordingly. – Claudine Reid, PJ’s Community Service

7. Serve As An Affiliate For Others’ Products

I offer an initial quarterly program as well as an ongoing continuity program. In addition, I have served as an affiliate for people whose products I believe in deeply and are well-aligned with me, my values, what I stand for and what my clients would value. – Sunny Smith, Empowering Women Physicians

8. Explore Unique Ways To Leverage Your Talents

Explore and experiment with not-so-familiar ways to leverage your talents. Often, we have a tendency to get comfortable with what’s working, thinking that we simply need to do more. By exploring and experimenting with innovative ways to do what you love and love what you do, you may uncover an untapped avenue to bring in a creative stream of income. – Sheila Carmichael, Transitions D2D, LLC

9. Create Self-Learning Products

I started by creating different services and revenue streams, including training, team development, consulting and individual coaching. Then, I developed self-learning products and books that wouldn’t depend on my time—video-based programs first, and later, e-learning programs. Finally, I developed train-the-trainer programs with licensing fees for worldwide implementation. – Mark Samuel, IMPAQ Corporation

10. Only Engage In Revenue Streams That Support Core Activities

I coach highly intelligent executives who want to increase their influence in complex situations, and I train coaches in my academy. I will only engage in revenue streams that really support these activities. The danger beginning coaches face is spreading themselves too thin so that there is no way they can market everything they do. Multiple revenue streams? Yes. Staying identifiable? Yes, yes, yes! – Kirsten Dierolf, SolutionsAcademy – Speaking! GmbH

11. Include Other Coaches On Your Platform

I include other coaches with different expertise areas on my platform. Now, I can provide other coaches the opportunity to do work they love and clients the resources they need while making money to support the infrastructure of the website and ads, as well as my business development efforts. – Natasha Ganem, Lion Leadership

12. Do Virtual And In-Person Speaking Engagements

Speaking both virtually and in-person has created an additional revenue stream for my coaching service. The benefits are threefold: I receive revenues for the speaking engagement, generate private clients as a result of the event, and earn passive income from selling resources that participants can purchase following the speaking event. Aside from the additional revenue, this approach allows me to reach and impact more people. – Cathy Lanzalaco, Inspire Careers LLC