Multiple Income Streams // Ideas for Health Coaches
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As a business owner, it's incredibly important to have multiple sources of income rather just relying on a single source of income. You're going to feel so much more comfortable if you have multiple income streams that are going to pick up the slack when other streams slow down. And in this video, I'm going to share with you all eight of my sources of income so that you maybe get a little bit of inspiration or see what's possible when it comes to making other sources of income.
My first source of income, and probably one of my primary sources of income up until about a year ago, was one-on-one coaching. That's going to change a lot in 2020 because I actually stopped taking one-on-one clients, but this is basically me exchanging my consulting services, my advice with health coaches who are looking to grow their business. Now, something I've learned is my zone of genius isn't really one-on-one coaching. I do think I'm good at it. But me personally, I prefer to put my energy into other things, like courses and group programs. So in 2020, this is probably going to become significantly less of my income streams. But currently, beginning of 2020, it still is one of my primary sources of income.
Number two is my HTMA Expert course. This is my course for health professionals, health coaches, fitness pros, health practitioners who want to learn hair tissue mineral analysis. This is one of my biggest moneymakers and in 2020 I expect it to be one of my primary streams of income as well. I teach this course live so I'm showing up weekly for live Q&As for the six weeks that we actually run the course. If you are interested in being a part of the HTMA Expert course, which launches January 28th, click here.
My third source of income is my monthly membership program. After health coaches or practitioners have completed the HTMA Expert course, they usually want to access my support. They still want to have help with their case studies and implementing what they learned in the course. So, I have HTMA Masters membership, which is for graduates of my course only. But basically, within that group we do review calls. We help them with their case studies. We make sure all their questions are answered in regards to hair tissue mineral analysis. We also dig into some of the other functional tests, like the organic acids, GI-MAP, and DUTCH test.
My next source of income is my 360 Mastermind. In November 2019, me and my business bestie, Christine Hansen, launched our yearlong mastermind program for health coaches. This was a really big source of my income at the end of 2019, and it's going to be a sort of a minor part of my income going into 2020. Most people paid up front, but some people are on subscription plans, therefore we will still continue to receive those payments on a monthly basis.
My fifth source of income is HTMA test kit orders. We have a program in my company where health coaches can actually order HTMA kits through us instead of the lab. Because depending on what people's health certifications are, they may or may not be able to actually set up a direct account with the lab. So for those people who maybe don't have the credentials that the lab is looking for, we allow them to order HTMA kits through us. We do mark them up slightly because I am basically paying an assistant to manage that program, plus I pay a mail lady to actually ship out those kits for me.
My sixth source of income is supplement commission. Now, I don't do health coaching anymore, but I do have an online dispensary with Fullscript. That means that my past clients have accounts. And any time they order under my account, I get a commission. Now, supplement commission used to be a lot more for me but since I don't really health coach anymore, it's not as much as it used to be.
My seventh source of income is High on Energy commission. Some of you may know I used to run a group membership program called High on Energy. That was where I helped women resolve their chronic fatigue and basically get more energy. When I decided to end that, I didn't really want to just let it go because I'd created such an amazing community of women. So I offered the membership to another practitioner and she runs that program now and rebranded it to a different name, Healing Journey Services. I had her take over the program in exchange for commissions of the sales for the next year.
And then my final stream of income comes from affiliate sales. Affiliates are certain products that I love that I recommend. This is definitely my smallest income source, but I do make some commissions. For example, I recommend the Pure Effect water filter because I think it's so important to be drinking clean water, so that is a product I recommend. I also promote the Joovv LED Red Light, therapy light, because it's amazing for antiaging and skin, and I've found it to be really, really effective for sports injuries. I also recommend the HeartMath device, which is a sort of meditation-like device that I love and has helped me so much in terms of how I deal with stress and how I feel overall about myself. I make a few hundred dollars a month on commissions from those products.
So those are my eight streams of income. And going into 2020, I'm probably going to add a few more courses. My plan in 2020 is to create a whole library of business courses specifically for health coaches and other wellness professionals, spiritual advisors, or anyone who does online coaching.
Remember as a business owner, multiple incomes take away so much of your stress and overwhelming feelings when it comes to money if you set up multiple income streams. And if you don't even know where to start and have yet to determine a niche, I have a workbook just for you, my Money-Making Niche workbook!