How to 10x your business by creating an online course
The most successful businesses have found a way to provide more value to more people at a higher profit.
For this to be possible, you need to leverage your resources and your time ranks among the most important.
So many entrepreneurs make the mistake of building a business that’s completely dependent upon how many hours you put in and become stuck in the trading time for money trap.
Not only is this a risky (and exhausting) business model, it’s also putting a cap on your success because no matter how hard you work you can’t add more hours to the day.
However, when you package your expertise in a way that isn’t dependent upon where you live or how many hours you work a whole new world of possibility opens up.
Suddenly, the time and geographic barriers that once stunted your growth become nonexistent and your earning potential becomes unlimited.
Instead of taking on projects or clients just to pay the bills or feeling like you’re running on a never-ending hamster wheel, you have the freedom to only work with who you want, when you want, doing what you want.
And this changes EVERYTHING.
In today’s digital world there’s an unprecedented opportunity to obtain financial freedom doing what you love and helping others change their lives for the better.
I know this because I’ve experienced it first hand and have helped hundreds of others do the same by turning what they already know into a scalable online course.
Today I want to share exactly how to get started and guide you through the course creation roadmap.
I’ll also share a few examples of clients who have completely revolutionized their business by productizing their expertise, in hopes that it opens your mind up to new possibilities.
So let’s dive in…
WHY PEOPLE PAY PREMIUM PRICES FOR ONLINE COURSES
Paying for education is not a new concept. People have been paying for knowledge since the beginning of time. The difference is that now learners are no longer limited to the traditional education system. Instead, they can learn directly from the source, from people who have already achieved the result they want to achieve.
Therefore, if you’re able to teach someone a system, framework or process that will expedite the process of getting from where they are to where they want to be, adding an online course to your product suite is an excellent idea.
THREE PHASES OF COURSE CREATION
The course creation process is broken down into three main phases and each phase consists of a few processes.
Phase 1: Content Creation
The first phase focuses on ensuring there is a market for your course, organizing and synthesizing your expertise, and actually creating the content for your course. This usually entails video lessons, slide presentations, and worksheets or activities.
Phase 2: Design and Technology
After your content is created you’re ready to begin setting up the infrastructure. This entails building your membership site and setting up the other necessary systems like your payment processor and email provider.
Phase 3: Marketing and Launch Strategy
Now that your course is complete, it’s time to let the world know the doors are open. One of the fastest ways to gain traction and increase sales is by creating an affiliate partner program. You’ll also want to implement a launch strategy to build anticipation and excitement for your program.
SO HERE’S HOW IT ALL BREAKS DOWN…
Phase 1 Components:
Validating your idea – Before you put all the time and energy into creating a course it’s extremely important to validate that there is a market demand. Essentially, you want to ensure that people are willing to pay for the solution you are offering.
Outlining your course – Organize your content in a clear and actionable format by chunking it into manageable pieces. The format is very similar to how a book has sections and chapters within each section. A course has modules (like the sections of a book) and lessons (like chapters) within that module.
Creating your content – After you have your course outline 100% complete you are ready to begin creating the actual content. This is broken down into 5 steps:
- Create your worksheets/activities – These are resources that help your customers implement what they learn. A few examples are checklists, cheat sheets, templates ect.
- Script your video lessons
- Create slides for your video lessons.
- Record your video lessons
- Edit your videos
Phase 2 Components:
Building your membership site and integrating necessary systems – Your membership site will be the central hub for your online course. This is where customers will be able to access all the content you created in phase one.
Phase 3 Components:
Build an affiliate partner program – One of the most effective ways to increase your reach is by partnering with other people/businesses that are already serving your target market and have them promote your product to their audience.
Launch Strategy – The purpose of a launch is to help your audience form the beliefs necessary to become a customer and overcome objections that may prevent them from purchasing. In addition, your launch builds anticipation and excitement for your program.
NOW IT’S TIME TO TAKE ACTION…
Now you’re armed and equipped to take the first step towards turning your knowledge, skills, and experience into a scalable, recurring revenue stream. For a more in depth walkthrough of the course creation process check out this blog article on The Result Centered Training Formula which will teach you the exact steps I use to structure courses for maximum effectiveness.
ONLINE COURSE EXAMPLES
Here are a few examples of clients who have taken their businesses to a whole new level by adding an online course to their product suite.
The Milky Way
ONLINE COURSE: The Milky Way Online Retreats and Courses
Erin and Lisa are an extraordinary example of what’s possible when you step past the boundaries of a service based business.
Instead of limiting their revenue stream to one-on-one clients, they created online courses and retreats on various topics such as newborn, maternity, and family photography.
The Milky Way filled a void in the photography industry by building a safe and supportive community that inspired photographers to improve their skills and confidence. They’ve become a market leader and the business is generating multiple millions per year.
INDUSTRY: Relationship Therapist
ONLINE COURSE: Relationship Skills Bootcamp
Steph and Darcy are licensed therapists in New York City. Their practice, Alternatives Counseling, was formed in 1998 and specializes in individuals and couples who want more out of their relationships.
After reaching a cap on how many patients they could serve, they decided to scale their business by creating a program that teaches the skills necessary to find and keep lasting love.
In addition to bringing in an entirely new revenue stream with unlimited earning potential, their course has also drastically increased the demand for their one-on-one services.
Renew Physical Therapy
INDUSTRY: Physical Therapy
ONLINE COURSE: Pelvic Alchemy
Isa Herrera is a licensed physical therapist, as well as an expert in integrative pelvic floor therapies in the field of women’s health.
Since 2005 she’s helped over ten thousand women treat pelvic paid at her NYC-based healing center Renew Physical Therapy.
After learning about the new opportunity that online courses created she’s been on a mission to get the word out globally to all kinds of professionals who treat pelvic floor and patients who have the “I Can Do It” mindset.
Her online courses consist of programs for patients as well as health professionals that serve as continuing education credits.
THE POWER TO SING
INDUSTRY: Singing Coach
ONLINE COURSE: Sing Higher Than Ever Before
Chuck’s passion for singing is contagious. While he loves working with his private students, he wanted to share his love for singing with more people across the world.
Chuck began to build a YouTube following by producing high-quality free content and then launched his paid online courses.
MEGAN HARRISON CONSULTING
INDUSTRY: Digital Agency
ONLINE COURSE: Online Courses Academy
I’d be quite the hypocrite if I didn’t take my own advice 🙂 Online Courses Academy is a complete implementation program for entrepreneurs who want to productize their expertise by creating their own online course.
The program guides the user through each core component of course creation from validating your idea, creating your outline, creating your content, building your membership, building your affiliate program, and establishing your launch strategy.
Online Course Academy puts the course creation process in turbo-drive and saves you from expensive and exhausting trial and error.