The online coaching world is a huge business with no signs of slowing down. The millennial’s are tapping into their own power of steering clear of the 9 to 5 by running their own online businesses or launching their own businesses around their jobs. If you’re building a business online you will have seen the growth in posts about 10K, 20K months. Now there is a question mark over the authenticity of some of these claims (another topic for another day!) however it is happening and is completely possible.
The huge gap that isn’t being filled by many service based entrepreneurs is the opportunity to launch physical products in their businesses. The skill of launching products successfully is centered around knowing your audience. When you understand what your audience desires or needs in their life you can create products to serve them.
It’s the same principle when coaches launch their online programs or coaching packages. They are offering something that will benefit their ideal client. The coaches that are generating the 10k, 20k plus months are experts in this. They know exactly what their audiences wants and package their services up in a way that appeals. Which is exactly why they are missing out on an additional income in their business if they don’t launch physical products. They have built up their tribe or community by understanding what they want. It’s a no-brainer!
One of the myths around launching physical products is that it’s time consuming. Yes this can be the case but by creating a process that is focused on automation it doesn’t have to be the case. Launching a personally branded product range that is picked, packed and delivered by a fulfillment center allows a service based entrepreneur to keep their energy focused on their clients whilst bringing in sales.
The benefits are huge even when you take the additional income out of the equation. It strengthens their brand, it brings a new dynamic to their business as well as serving their tribe in a whole new way. A personally branded product aligned with a successful service based business is a positive step forward to creating a multi dimensional business.