More money, more time, and a bigger impact on the world. That’s what you’re missing out on if you aren’t already creating your own online courses.
We’ve entered a new era of online courses, and more people are looking to learn from experts in almost every niche you can imagine. From business to relationships, health to hobbies. However, as more people buy into the online course boom, your competitors are slowing edging ahead of you.
Today I’m going to share with you the 3 most important reasons that you should be creating an online course immediately:
- To generate sustainable & predictable revenue month on month
- To win back your time freedom by taking advantage of leveraged products
- To reach a bigger audience and help people at scale
Forbes Predicts Online Education To Be A $325 Billion Dollar Industry By 2025 – I Think That’s An Underestimate
There is no doubt in my mind that 2020 accelerated the adoption of online education into the mainstream. The explosion of businesses leaping into the online course space was incredible to witness.
In my opinion, we’re only just getting started, and you’re still at a huge advantage if you dive into building your courses now. Though, if you wait, it’s more than likely that your competitors will beat you to the punch line.
2021 will be a tough financial year if you continue to do what you always did.
Quite frankly, things aren’t going to go back to normal once we get a vaccine and international travel resumes. There are tons of Fortune 500 companies around the globe who are vacating office spaces and turning to fully remote workplaces.
With more and more employees working from home, it’s going to be tricky to navigate the reemerging markets if you aren’t prepared to meet your customers where they’re at.
Whether you’re selling B2B or B2C, the mode of delivering your products and services needs to leverage the current reality we’re living in. People can’t come to you anymore, you’ve got to go to them – right into their living rooms and makeshift home office spaces.
That’s why online courses are such powerful products to have in your revenue stream. People still need to work with you, grow with you, learn from you, be supported by you. If you don’t have a product designed to deliver those services, you’re leaving money on the table. That $325 Billion dollar payday will be someone else’s for the taking. Stop wasting time, and get ahead of the curve now.
January and February is the absolute best time of the year to launch an online course.
Just looking at the data in Google Trends for the search term “online course”, it’s obviously clear that traffic spikes around the beginning of the year, every single year. And this isn’t a new thing. Those trend lines date back right back to 2004 when Google first started. You can literally see the spikes in the search results.
Why is that? Because everyone wants to set their intentions for the year ahead. The “New Year, new me” crowds come rushing through the door looking to finally make 2021 the year to learn guitar, get fit, grow the business, get better at public speaking, land the dream job, start an e-Com company, to improve their relationship, to train their dog (you get the point).
Right now (November/December) is the absolute best time of the entire year to be building an online course so that you’re prepared to capture that market when it comes knocking at your door. If you wait until January or February, you will have missed your shot for an entire year.
Let me put it to you this way. If you go to a store and they’re not selling the product you need, do you just give up and go home? No, you go to the next store that has the product in stock. So why would online courses be any different?
Future-proof your business by entering a market just starting its exponential growth climb.
If 2020 has taught us anything, it’s that business is incredibly sensitive when it comes to a crisis. When entire industries shut down, people lose their houses, families break apart, children go hungry. I know this sounds melodramatic, but it’s the gut-wrenching reality that hundreds of thousands of business owners around the planet are struggling to overcome right now.
By building a solid revenue stream based on digital information products, you are future-proofing your financial security long into the future. And here’s the cherry on top… the online education industry is sky-rocketing ahead of growth projections now thanks to the pandemic. If you establish a foothold in your niche selling courses, building authority in the space and delivering outstanding course results, that revenue stream is going to balloon significantly in the next 24-48 months.
You really don’t have the luxury of time to sit around planning this out for the next 12-18 months, it’s action time right now.
Build A Business That Has The Capacity To Scale Quickly (Without You Needing To Work Harder To Sustain It)
Building a sustainable business that grows year on year is one of the most challenging journeys many of us will ever embark on. As you reach each new level, there seems to be an ever-growing set of problems on your plate.
In my opinion, online courses are one of the most leveraged assets you can create in your business that will bring in profit and customers while you’re actually doing LESS work. You know how the old saying goes, “work smarter, not harder”.
Create an environment that allows you to work ON your business, not IN it.
In the early stages of business, you wear all the hats. You’re writing copy, building websites, sending out emails, answering customer support, doing your accounting; all while trying to serve your customers, find new ones, and essentially grow your business.
That is a oneway ticket to Burnout Ville.
By the time you’ve dealt with all your work obligations, spent quality time with family & friends, done all your household chores, there is just no time left to sit back and really strategise on how you’ll grow out of “the endless hamster wheel” that is your business.
Now I’ve seen this time and time again, but business owners who sell courses as a key revenue stream, are literally creating free time on their calendars – spare time by the bucketload as a matter of fact. Selling a digital product is a little bit of front loading work to get it created, but then it’s an asset that you can sell over and over again with little to no retouching on your part.
That means you have a leveraged product generating new customers, more revenue and creating time freedom so you can spend those extra hours working on your business, rather than in it.
Get some help in your business sooner rather than later, but not until you have the resources to sustain it.
When working with clients to scale their business, one of my favourite stages in their growth is seeing them hire team members to help them grow even faster. Online courses generate an incredibly healthy profit margin straight out of the box. After you’ve spent $79/mth hosting it on Thinkific and $49/mth on Activecampain for your email list, you’re pretty much covered in terms of overheads.
With that excess revenue not going into creating and delivering the same product over and over again, you should look at hiring team members to come on board to start taking over some of the many hats you’ve been wearing all this time.
This is the absolute fastest way to win back your time freedom while still keeping your business bottom line well into the green.
Create courses based on what you’re already doing well instead of diving into new territory.
Building courses should be supplementary to what you’re already doing in your business. Remember, we’re trying to make your life easier, not harder. So if you’ve decided that courses are a great fit for your business (re-read the above if you have doubts!), then there’s no use in you creating a course on a subject that you really don’t know much about.
Stick to what you know and your customers will be delighted with the content. If you’re still stuck on what topic to choose, just consider how you work with people and what you help them with. There are usually 2-3 core desires that your target market comes to you for. Focus on those areas first and you’ll already have a strong foundation to build on.
There Might Only One Of You, But You Can Leverage Yourself Through Online Courses To Help Almost Anyone On The Planet, Anywhere, Anytime.
We’ve never had more access to knowledge and information than we do right now. Any question, problem, or hurdle we’re facing can be addressed with a quick Google search and sifting through a handful of YouTube videos.
So with people turning online to get help, it makes sense that you would have a pathway for your customers (and potential customers) to learn directly from you. After all, you are unique to your competitors, you do things differently, get better results and the content you produce would be way better than what someone would have access to just Googling for it online.
Give the people what they want!
People really need your help right now. It’s been a rough year.
One of the reasons I love helping businesses create and sell online courses is because of the sheer volume of people they can help. When you think about it, there really isn’t a limit to the number of people you can reach.
Just look at what Kahn Academy did. They’ve basically democratised high-quality school education and made it entirely free, and accessible forever.
If you think about your business, while you don’t need to give everything away for free, you can still create courses to help people along in their journey incrementally. Use your courses as stepping stones to lead customers to your high-ticket offers. In the process, they will get tremendous value out of it, and the business will be profitable as well. It’s a win-win.
Creating a lasting legacy for your business long after you decide to down tools.
Say one day you decide you want to change careers, move across the world, start a family or go live in the woods as a recluse. In a traditional business setting, unless you have a company selling products that have nothing to do with you personally, when you leave your business stops.
With products like online courses, people can continue learning from you long after you decide to wind down or retire. It’s the gift that keeps on giving as I tell my clients. Whether it’s 10 students or 10,000, they’ve all still gone through the same course that you created. They will all have experienced growth, and all it took was for you to create that one course.
If that’s not enough motivation to start creating a course today, I don’t know what is.
So where to from here?
If you haven’t already been planning it, you really need to get your head in the game when it comes to online courses. I’ve yet to come across a business or a niche that couldn’t benefit from creating and selling courses, and I’m open to being proven wrong. More predictable revenue coming in sustainably each month, more time to focus on growing your business, and of course he ability help people at scale.
I’m hosting a free live 3-day masterclass series on how you can leverage online courses in 2021 – REGISTER HERE.
And if you’ve already decided you want to start creating online courses, I’d love to help you put it together and launch it. Check out Online Course Business Builder for more info.