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Hey, this is Dan Lok. If you don’t know me, we have generated over a hundred million dollars in coaching and digital course sales and rapidly growing. Now, one of the biggest challenges with being a coach, a consultant, you know, this more than anybody else is you experience the income roller coaster. So you get clients, you fulfill those clients, right? You deliver your services and then you have to go out there and hunt for clients. And then your income kind of goes up and down and up and down and up and down. So today I’m gonna teach you three simple ways you could leverage your coaching practice and how do you do that and actually create recurring income out of it. Are you excited? Yes. There are three ways you could do this. Number one is depends on what you do. If you are consulting with business owners, if you’re consulting with CEOs, if you’re consulting with kind of in the B2B kind of space, one of the simplest and easiest ways to create recurring income is by recommending tools.

So I do this a lot. So not only I’m working with the clients one on one, but I have affiliate relationships, right? I have tools and software that I recommend to these clients so they could run their businesses better, right? That when they sign up for these software tools, then my company would get an affiliate commission example. I would recommend Kajabi. I would recommend HubSpot. I would recommend hosting. I would recommend all these suite of tools that I use personally in my business. They want to use what I use, cuz it works. Now when they sign up for these services, I will be able to generate recurring revenue with no cost. One of the most powerful questions you could ask yourself is this, how do you make money when your clients leave you? So some of these client relationships may be the last three months, six months, eight months, a year, two years, but eventually they will leave you, what do you do?

Here’s what you could do. You put them on different software that you would get recurring commissions for. So even though after they leave you, they’re still making money. That’s number one, number two, you take your lump sum and you break it into installment. It would help to ease this. Instead of this, you have recurring income. So, you know, in the beginning of the month, how much you would be making, I’ll give you a simple example. Let’s say your program is $12,000 a year. You break it apart as a thousand bucks a month, a thousand bucks a month, a thousand bucks a month. Right? You could do it that way. So you convert some of those clients into monthly installment. We have a lot of recurring revenue coming in because a lot of what we do ISOC recurring, I don’t want this. I want to have nice, steady growth.

So I’ve structured my coaching and consulting enterprise in such a way that we do this way. Number three, this is my favorite. And by far the most powerful. And that is again, it depends on what you do. In my case, I’m consulting with experts and CEOs, and business owners. I do what I call value-based pricing value-based pricing. So it could look something like this. Let’s say at the beginning of the relationship, we sit down face to face or virtually, and we kind of discuss what are their goals? Where do they want to be? They want to go from, let’s say 5 million to 10 million in three years. Let’s say that’s, that’s their goals. 5 million to $10 million. I said, okay. So here’s what I charge right? To start with the relationship. And if I could get you there within the timeframe of what you want, anything above that, I would do a rough share model.

So example, right? So from 5 million to 10 million. Great. So what you’re paying me, I know I’m confident I could get you to say by next year, right? Let’s say 7 million. Okay, great. That’s how much, how much I charge that’s how much you charge anything above 7 million. Anything between 7 million and 10 million. I would get a percentage of the revenue on top of my retainer on top of my fee. So now I’m not just getting a fee. We are not just having a transactional relationship. We have a transformational relationship. We are acting more like a partner. Let me get you there. And if I could get you there, here’s what I want. And if I could bypass that engage the 10, 12 million, it’s a, win-win, it’s a win for them because they know I’ll work hard to get them to where they want to go. It’s a win for me because now it gives me more income in the future. If you structure this properly and I teach this within my community, I have clients that are paying me hundreds of thousands of dollars, right? Because I’ve helped them done this. I’m not doing the consulting, but I’m still getting paid because how I have been able to structure these types of revenue share opportunities and you could do the same. So now you could turn your coaching practice into recurring revenue. So those are the three simple things that you could do today to turn your coaching practice into recurring revenue until next time go high ticket.