Many coaches, consultants, authors and other experts have amazing knowledge and know-how that others would be willing to pay for, but they just don’t know how to turn their wisdom into a 6-figure business. Yes you can always work with clients individually, but that should be your highest priced service—after all your time and know-how are very valuable.
One of the best ways to leverage your knowledge and create a great passive income stream while serving more clients is to create and sell a home study program–a popular type of information product. Many people shy away from doing this because they assume it will be a massive job to actually create one—kind of like writing a book. But that couldn’t be further from the truth. It’s actually possible to create a home study program painlessly in 60 days or less when you have the right formula or system., which is why I developed my home study income system.
Imagine that you have a steady stream of online sales that provide a really nice cash flow in your business and you are able to attract new clients more easily because:
- it provides a way for people to learn from you without the large investment necessary to work with you privately
- you offer a money-back guarantee so it’s no risk for them to try your program
- it’s perfect for people that like to learn at their own pace and on their own schedule.
One way to easily create a home study program is to first do research or conduct surveys to see what people in your niche most want to learn from you. What are they willing to pay for? Then, based on your research, choose your topic. You can record live tele-classes, coaching sessions, live events or interviews with other experts on different aspects of that topic. Then add some worksheets, checklists, instruction sheets, videos or other implementation components and you have a multi-media home study program that can be delivered digitally or can become a hard copy product on CD’s with a workbook.
That’s just one of many methods for creating your home study program without sitting down day after day and writing out lessons.
Once you’ve created it, build a solid marketing plan that includes online marketing, social media, affiliate partners and possibly some pay-per-click ads. Put together the necessary web sales pages and autoresponder lists and messages to make your sales process run smoothly. Implement your plan on a timeline, and track where your traffic and sales are coming from so you can refine your sales pages to convert more leads to sales. Of course this process must be broken down into a step by step system, but once you’ve got it working, you can use it again and again.
Be strategic about leveraging your home study program. Think of positioning your program as the lead-in to your more expensive programs where people can get personal help implementing what they learned in your home study. You can also leverage the work you’ve done by pulling parts of it out to use as articles, blog posts or video content. Finally your home study program can position you as a real expert. Ask buyers for testimonials and include them on your webpage so sales continue to roll in.
There are dozens of strategies for marketing, selling and leveraging your home study program, so consider planning one as your next product.