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How to build your first 2 income streams:
(without knowing how to code)
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(without knowing how to code)
1/ Eliminate the "fallacy of expertise"
When you get started, you can& #39;t worry about "am I an expert?"
If you do, you& #39;ll never get started.
Instead, make a list of your accomplishments, big and small, over the last 2-3 years.
What skills did you learn during this period?
When you get started, you can& #39;t worry about "am I an expert?"
If you do, you& #39;ll never get started.
Instead, make a list of your accomplishments, big and small, over the last 2-3 years.
What skills did you learn during this period?
2/ Identify your interests
Inside of the list you just created, will be things you loved doing and hated doing.
Sorry, but you can& #39;t scale misery.
Choose something you built skills in, that you also enjoy doing/talking about/writing about.
This will be your core focus.
Inside of the list you just created, will be things you loved doing and hated doing.
Sorry, but you can& #39;t scale misery.
Choose something you built skills in, that you also enjoy doing/talking about/writing about.
This will be your core focus.
3/ Find the "you" from 2-3 years ago
Your goal is to find people who are just like you, but much earlier in their journey.
Where do they hang out online? Try places like:
- Reddit
- Twitter
- LinkedIn
- FB Groups
If you can& #39;t find them, use tools like @sparktoro to help.
Your goal is to find people who are just like you, but much earlier in their journey.
Where do they hang out online? Try places like:
- FB Groups
If you can& #39;t find them, use tools like @sparktoro to help.
4/ Create content
Next, it& #39;s time to establish credibility.
Here are some easy ways:
- Teardowns
- Tweet threads
- Step-by-step guides
Show the people 2-3 years behind you that you understand their challenges & have solved them before.
This will gain you a small following.
Next, it& #39;s time to establish credibility.
Here are some easy ways:
- Teardowns
- Tweet threads
- Step-by-step guides
Show the people 2-3 years behind you that you understand their challenges & have solved them before.
This will gain you a small following.
5/ Create a service business
A simple coaching business can be your 1st income stream.
An MVP landing page + @stripe or @gumroad to collect payments.
The key? Make the pricing a no-brainer.
You& #39;re not looking to get rich here, you& #39;re looking to learn.
(more on this)
A simple coaching business can be your 1st income stream.
An MVP landing page + @stripe or @gumroad to collect payments.
The key? Make the pricing a no-brainer.
You& #39;re not looking to get rich here, you& #39;re looking to learn.
6/ Promote it
It& #39;s unlikely you& #39;ll get clients just because you exist.
Instead, find easy ways to promote it.
When your new followers ask you questions, tell them about your coaching business.
When you write content, share a link at the end.
Super simple stuff.
It& #39;s unlikely you& #39;ll get clients just because you exist.
Instead, find easy ways to promote it.
When your new followers ask you questions, tell them about your coaching business.
When you write content, share a link at the end.
Super simple stuff.
7/ Listen for commonalities
This is a key step to creating your 2nd income stream.
Your goal when coaching is to listen for the most common problems of your students.
- Write down every problem you hear
- Dive deeper to understand them
- Keep a running list
This is the gold.
This is a key step to creating your 2nd income stream.
Your goal when coaching is to listen for the most common problems of your students.
- Write down every problem you hear
- Dive deeper to understand them
- Keep a running list
This is the gold.
8/ Build a digital product
Your 2nd income stream is your 1st digital product. Focused on the most common problem above.
Take someone from problem to solution in 45 minutes or less.
Keep it focused.
Single problem → single solution
Price it reasonably to build trust.
Your 2nd income stream is your 1st digital product. Focused on the most common problem above.
Take someone from problem to solution in 45 minutes or less.
Keep it focused.
Single problem → single solution
Price it reasonably to build trust.
9/ Raise your rates
With a lower-priced product, you can now increase your coaching rates.
When people want coaching, you can coach.
When they don& #39;t, tell them about your digital product.
You now have an offering for different learning styles and price points.
With a lower-priced product, you can now increase your coaching rates.
When people want coaching, you can coach.
When they don& #39;t, tell them about your digital product.
You now have an offering for different learning styles and price points.
10/ Set up your systems
- Create useful content
- Drive people to the product
- Upsell 1:1 coaching packages
With this simple system it& #39;s only a matter of time before you add a 3rd income stream:
- Consulting
- Community
- Physical products
- Cohort-based coaching
Next?
- Create useful content
- Drive people to the product
- Upsell 1:1 coaching packages
With this simple system it& #39;s only a matter of time before you add a 3rd income stream:
- Consulting
- Community
- Physical products
- Cohort-based coaching
Next?
Get started.
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If this was helpful, feel free to RT or give me a follow.
If you want tips like this every Saturday morning, subscribe to my weekly newsletter → https://www.justinwelsh.me/blog?tag=newsletter
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