Starting a new income stream for your online business coaching can be a daunting task, but it doesn’t have to be. By following these five simple steps, you can effectively create a new income stream that is tailored to your target audience and their needs.

Identify One Specific Person In Your Target Audience

To create an income stream that is effective, you must first identify who your perfect client is. This means considering their demographics, interests, and needs. Once you have a clear picture of who your perfect client is, you can tailor your new income stream to meet their most pressing need.

Look for Gaps

Another important step in creating a new income stream is to identify the gaps in your niche. What are the biggest complaints or frustrations your clients tell you about? Do you see others talking about this in groups, chats, or even reviews? By identifying these gaps, you can create a new income stream that addresses these unmet needs and sets you apart from the competition.

Break it Down

Once you have identified a problem that your perfect client is facing, it is important to break it down into smaller, more manageable steps. These steps will make it easier for your clients to understand the process and achieve a successful result.


After breaking the problem down into smaller steps, choose one step that is particularly complicated to achieve on their own. Outline a simple solution to help them solve that one initial step (not the entire problem). At times you’ll find what your perfect clients think they want is not what you know they need to do first so this could take a little time to flesh out.

Test Your Idea

Finally, create a juicy lead magnet to test the interest in your new income stream. A lead magnet is a free, valuable resource that entices your target audience to opt-in to your email list. By creating a lead magnet, you can test the interest in your offer and grow your list of potential buyers at the same time. 

By following these five steps, you can effectively create a new income stream for your online business coaching that meets the needs of your target audience and generates revenue for your business. Remember, it is important to do your research and test the market before creating an offer to ensure that your time and effort are well spent.

If you’re ready to create a lead magnet and want to do it as quickly and easily as possible, then grab my FREE Quickstart Guide with Canva Template below!

Lead Magnet Guide

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