There is something VERY enjoyable and rewarding about helping other people achieve their goals and objectives and even better, a great income is waiting for anyone who is prepared to specialise and grow in this area.
Even if you do this as just part of your income generation you will find it is very worthwhile both mentally and financially. Coaching and mentoring others is not a difficult skill to pick up and master and if you know your subject matter well it’s a very simple task to achieve.
To put this into perspective for you I have run one particular mentoring package on creative thinking and idea generation many times over. Initially it took me two days to prepare and rehearse and since that time I have presented the same course across the internet more than 20 times to well over 350 people, and I will go on presenting the same course for many years to come.
I just love creating such material ONCE and then go on financially benefiting from it for years to come. I have a wide variety of such coaching and mentoring packages available which I have prepared and have successfully run in the past and could run again tomorrow if I wished or was asked to do so.
By conducting your coaching and mentoring online you can work with individuals from around the globe. Over the past year I have mentored individuals from the following countries.
I don’t need to advertise my services as my name and services have always been passed on by personal recommendation or people finding my websites and for that reason I ALWAYS have a LONG LIST of enthusiastic individuals waiting to begin mentoring with me.
The same will happen to you as you progress and build experience. Although people and different cultures may change slightly around the globe, the mentoring process is always exactly the same and always gives me a BIG BUZZ as I see my students advancing and approaching and surpassing their objectives.
Coaching and mentoring is not what most people imagine.
One-to-one mentoring is a very personal conversation between two people.
Very often they do most of the talking and I ask questions and listen to their response as they think things out. Sometimes to shortcut the process I WILL tell them what they need to do to achieve their objective or make suggestion. However, generally I like to guide and steer them to arrive at their conclusion themselves.
Group coaching and mentoring means I often teach a specific skill via a slide presentation and then deal with problems and issues that may arise as the group put this new skill into practice for themselves. Often I just act as a facilitator of such groups as the students become very involved in the conversation and often share their experiences with the group which is a fantastic environment in which to learn in.
I ALWAYS set structured tasks which will take them closer to achieving their goals.
What skills do you possess that you can mentor upon that others would be happy to pay for? There are literally 1,000′s of subjects which could be made highly saleable and attractive. Just think outside your usual comfort zone and see what you can come up with.
Just remember if you believe you can you WILL come up with some very workable ideas.
Now would be a good time to start writing out a list of possibilities so identify what skills you have that could be moneytised – EVERYONE has at least one! Tell me about all the skills and talents which your mother would proudly boast about?
You of course can learn new skills with the specific objective of mentoring or coaching in them.
What skills do you want to learn that as you assimilate you could convert into a mentoring package for others? I have mentioned this technique elsewhere in the ‘Fast Track’ to Internet wealth tutorial. If there is something you would like to coach and mentor others on you should start out by learning the subject yourself.
In fact, if one of the reasons that you are learning something is so you can later mentor and coach upon the same subject, you will not only learn the information but gain a lot of insight from the learning process and how you could improve it and make it easier for others who you mentor. Remember that the same problems and challenges you will encounter as you learn are likely to be the very same ones your future students will stumble upon and have problems with also.
For this reason you should pay particular notice to as you begin to master your new subject and the methods you used to overcome the problem. Document everything, your thoughts and feelings as you progress as well as observation which may help you in the future.
So now would be a good time to stop for a while and make a list of ALL of the things and skills you would LIKE to learn however silly they may seem because as you learn you may be establishing a new and HIGHLY profitable ongoing profit stream for yourself which makes learning a great investment into your future.
I am NOT showing you these to impress you, but impress upon you that if you have the right attitude you will be able to develop a small arsenal of mentoring products from which you can sell to make an enviable living.
I have listed below 7 of the subjects which I presently mentor upon and a couple of those mentoring courses work on virtually automatic unless the student would like some additional mentoring and then they (for an additional fee) are invited to participate in either group or one-to-one mentoring. The ‘fast Track’ is an automated mentoring course where mentoring is available to those who want it to help them advance more quickly. You can learn more about the automation process I use from the modules on memberships and product information development.
I have mentored on all of these topics and many more.
You have probably already picked up on the fact that I mentor in many different ways so now I have given you a brief overview of the bigger picture and the topics which I enjoy mentoring upon, I would like to get more specific about the methods which I use and have found generate good profits.
I often promote FREE webinars to attract prospects to join my newsletter or mailing list and such webinars are a fantastic way of promoting your services. They give a taste of YOU and the way in which you relate and interact with potential students making webinars a great showcase for you.
When I deliver a free webinar I always give away TONS of no obligation value although most of what I am offering is either incomplete information, or concentrates on WHAT needs to be done rather than HOW to do it. However, I am very open about this fact and my opt-in rates for such webinars have been as high as 67% which is excellent.
As you progress and gain experience there is no reason why you shouldn’t charge for such webinars. A few years ago I decided to test the market and I put a price tag of £25 on one particular webinar I conducted. It was actually two half hour webinars with an instructional email which I sent out in-between and it offered exceptionally good value for the information I shared, and the results delegates received.
I was not sure how many delegates I would get as I promoted it to my list and was really surprised when I made more than 300 sales. Now 300 x £25 = £ 7,500 profit which is an excellent income for a few hours’ work. I have no doubt that if I had really thrown myself into the task of promoting this event I could have sold easily three or four times as many tickets as well as massively adding to my mailing list.
This was not a one-off fluke as I have sold lots of similar webinars at £10 or £15 a ticket where I have had in excess of 100 to 150 attendees. Such webinars are really easy to conduct; in fact, I could almost eat my supper while I present them. (Only Joking!)
I know a lot of individuals who are new to generating an Internet related income find that conducting webinars and presenting a bit overwhelming. However, I can promise you that once you have presented a couple of them even to a small audience of just 2 or 3 people (friends you have asked to give you feedback) you will not find them at all difficult. Then, like me, you may find conducting them soon becomes one of your favourite methods of mentoring or coaching.
Over the years I have put together a number of short period (4-6 week) group mentoring topics which generally sell like proverbial HOT CAKES, and are a very nice way of generating profits.
I provide core or module material either weekly by email or in a membership site which opens new material to the delegates every week. I usually answer their questions which are sent to me by email on short live Q&A webinars or on a forum I set up for the purpose. In this way everyone gets to learn from the other course delegates which is a HUGE additional benefit in itself.
Depending upon the subject matter, I may present the core material in written format, via per-recorded videos or live webinar presentations, or a mixture of all three as they ALL work exceptionally well. I particularly like phone in webinars where the delegates can get to raise their hands if they want to speak or chat with me directly as I am presenting.
A mixture of presentation and mentoring makes for a VERY valuable learning format. I ALWAYS record such presentations and have actually used the recording as part of the next course I have sold on the same subject. This removes live interaction and involvement from me completely.
I have actually presented such these per-recorded webinars as the entire course and had run it while I was away on holiday and I am sure some from the comments I received many of the delegates thought that they were live!
I have run groups with more than 50 attendees, and have had two different groups running at the same time and I don’t even break into a sweat. Can you see why I am so enthusiastic about mentoring and coaching as a way of generating income?
I generally charge £300 – £450 for 4- 6 weeks course which is exceptionally inexpensive when you consider the ROI (return on investment) and what they could generate from the information they are exposed to. If you sold 100 seats a year at £300 you will have generated a £30k income!
I could double or treble this with my eyes shut and the overhead is virtually nil!
I have found through testing that 4 – 6 week courses seem the most popular although I have also found that 12 weeks (At a MUCH higher price) also work very well for me where I share material which takes longer to assimilate and get working. The nice thing about mentoring for short periods is that just like a school term people can see an end to it.
Here are a few of my course titles which have proved to be big hits:
As a matter of interest anything to do with romance is usually a SELL-OUT!
Now this is the very top level of mentoring which I offer and it can be quite intense although nearly always exceptionally gratifying fun. I will get my students to establish their goals and objectives and then mentor them to achieve them and overcome any problems and challenges which arise while doing so.
Our session usually last 45 minutes to an hour and they move quickly. I listen carefully and offer feedback to my students and although I am there to help them every week I give them a few (OFTEN DIFFICULT) tasks that take them closer to achieving their objective. It’s their time and we can use it how they wish just so long as we finish closer to their objectives or goals which they have set for themselves. On a weekly basis I just like to stretch them a bit more than they would without my help and one student described me as a paid bully which I suppose I am.
The biggest problem I find with mentoring this way (Probably because I am a BIG softy) is over running on time as some students start to become serious as the session is approaching its conclusion for that week. However, when I have my next student waiting to begin at the top of the hour I have to become very firm.
As you are probably realising I take my lifestyle very seriously and am even a little bit lazy and for that reason I don’t ever take on more than 5 1 to 1 clients at any one time and I ALWAYS have a waiting list!
I try to do such coaching on Friday morning and start early on that day so I can start my weekend by 1.00 or 2.00pm at the latest.
It’s not a secret and I do adapt it to the task, but generally for my PPS ‘Fast Track’ members I ask £1,500 per month paid in advance with 6 month minimum commitment and 3 months cancellation time. For other executive clients who may require a second session in the week I charge as high as £5,000 per month.
As I have already mentioned, 5 students take up a maximum of a day of my time per week which is why I enjoy working with them so much.
The associated benefits of mastermind groups are many!
I was running mastermind groups years ago when we took the time to meet in person. However, with the internet and modern Internet meeting facilities it offers you many potential methods for generating a healthy profit.
A mastermind group is a small group of like-minded and forward looking individuals who are constantly searching for ways of growing and taking their business forward. They may have come from completely different industries and backgrounds, which is a good thing as they often bring a different thinking and perspective to the group. So belonging to a mastermind group which contains the butcher, baker and candle stick maker would be far superior to a group with 3 accounts in it as you are looking for more creative people rather than analytical members.
One by one members of the group share what they are trying to achieve and the problems and challenges they may be facing. At this point the others in the group will share their ideas and insights and often bring high quality and cross pollinated ideas from their industry. I have belonged to a number of such groups and seen some AMAZING progress made due to this combined effort.
You will have heard the old saying that two heads are better than one, and it follows that three heads are better than two, and so on. Well it’s true! However, two head don’t necessarily mean twice as good because from experience I can tell you that if you quantify the results very often two heads would be equivalent to four, six or even TEN times as good. I hope that this puts the power of mastermind groups into perspective for you?
Some spectacular results have come out of mastermind groups and everyone who I have known to participate in one has only good things to say about them although occasionally you do get clashes of personalities within them.
The strategy here is to think about the group and forget your own problems and let the rest of your group concentrate on them for you and see what comes out of it. Just focus your energy on the problems and goals of others in the group and watch the magic start to happen.
You want to start by inviting VERY SELECT individuals to attend mastermind tasters. Remember to try and select creative people as much as possible and ones who are already doing well in business as these are the very individuals who will understand and appreciate the power and value of mastermind groups the very most.
Your objective is to find a mixture of CREATIVE individuals to agree in principle until you have enough people to make the group fly. Then once you have a group of potential members you can arrange a meeting time and I promise this will be the MOST DIFFICULT part as whatever time you select it will not suit everyone. For that reason choose a time which suits you first and have a couple of standbys members which you can substitute and bring into the picture when this happens.
To allow everyone to have enough time to get benefit you would want to limit your group to a maximum of number of 6. Now you will be the facilitator and will have to take the lead on this as well keeping control of the meeting which can get VERY heated. Sometime your group will become so excited and enthusiastic with the process and full of ideas that they want to share that they will all want to talk and share their ideas at the very same time. This is where a good conference facility such as ‘go to meeting’ comes into its own as you can switch people off and quickly regain control again.
Every delegate has to be CRYSTAL CLEAR on what they are trying to achieve and be able to articulate this concisely to the rest of the group before it is opened up to the group to work upon. Another method would be to send these objectives in by email to the facilitator who redistributes them to the rest of the group in advance of the meeting.
The group would meet for a 3 hour period which would mean that you could spend approximately 30 minutes or two 15 sessions on each member’s problems or objectives. Then every new meeting you could deal with new objectives, or old ones which have not been resolved.
In the past I have participated and facilitated such meetings live and ALWAYS BENEFITED from them even when I am the facilitator. I presently am a member of one which has members around the globe and we meet approximately every two weeks and this year are planning a few days together in some exotic location. The energy such meetings generate always make me super creative and often I have had to sit down and scribble my ideas on paper for half-hour or so afterwards.
Now, if this profit module has captured your imagination and you now want to generate an income from facilitating mastermind groups, you have the choice of presenting them live or online.
If I were to run mastermind groups today I would run them biweekly and charge £250 a month for a minimum of a 3 month minimum period. I could easily run a group a day and am certain that after a short while I would have no shortage of delegates to fill them and keep me busy.
Are you starting to see the financial possibilities?
I have found no better tool to mentor 1 to 1 students than Skype professional. It allows me access to a white board facility and to look at websites together or even share my students desktop. However, an alternative which offers a premium version is ooVoo and you can learn more about it at:
I have found this a useful facility when I record video interviews so check it out for yourself.
However, when it comes to group coaching I have tried just about every platform on the market and all but one share the same two problems which are that the sound quality CAN be poor and the video which slows down to accommodate the slowest connection. This can mean that some people get a poor experience of your webinar or presentation which I find unacceptable.
However, there is one platform that has solved this problem by buffering the sound so it is always of a high quality. Now it doesn’t have the same bells and whistles that some platforms have and certainly doesn’t look as sexy. However, it is exceptionally easy to use and allows me all the facilities I need to conduct quality presentations, meetings and webinar where everyone will hear and see everything on their computer and can participate by phoning in or even using Skype.
It allows me to conduct just as many webinars and meeting using power point slide shows as I wish and then reshow a recording of the same presentation indefinitely to unlimited sized audiences. Right now I have a package that allows me up to 500 web delegates and 100 on the phone lines. However, I could inexpensively upgrade to groups of 5,000 or more. I should be so lucky!
The cost of this platform is really inexpensive and right now as they are offering a free 21 day trial to test it out so I suggest you check it out for yourself by going to:
This ‘Fast Track’ to internet wealth course can be used as a template. Most of my different courses and subjects are constructed in the same way. You should also consider joining me on one of my live or 1-to-1 or group mentoring sessions and you will soon get the idea. I promise you it’s not rocket science and generally just plain common sense.
In fact, it is probably a lot easier. The very best method I have found to sell mentoring is to give a complimentary taster session as an assessment. The way to do this is to tell them you need to assess their needs and then you go into mentor mode when you start speaking.
If it’s one of my short courses I am trying to sell I invite them on a webinar and that (if they are a qualified) prospect this often does the trick and converts them into a customer. I can easily convert 25% – 30% of prospects using this process, sometimes much higher percentages!
Give them the headache, agitate the problem by rubbing salt in to the wound and then present them with the pill to make the problem go away which just happens to be one of my mentoring products.