Ep #002: Creating a Real Business Strategy for your Online Course – Part 1

August 6, 2018

Ep #002: Creating a Real Business Strategy for your Online Course – Part 1

Yesterday I was about to leave my apartment but was obstructed by 2 bags of trash, 4 bags of groceries and dirty clothes.
Exhibit A

As I moved the hangers out of the way, scooted the bags over, and walked out the door I thought this perfectly reinforced a point that I tell potential course creators all the time.

Let me explain...

Although it may look otherwise, I’m actually a pretty clean and organized person. The mess in front of my door was due to:

  • My groceries just being delivered by Instacart - A grocery delivery app/service.
  • I set out my dry cleaning for Presssbox - A 24/7 on demand dry cleaning service.
  • Minte Housekeeping, a subscription service for weekly hotel-style housekeeping, was on their way up to clean, take the trash out, and put the groceries away for me.

So what’s the point?

The point is that people pay premium prices for speed and convenience.

One of the most common concerns I hear from people that want to create an online course is... 

“Would someone really pay for a course on this when there’s so much information on the internet for free?”

The answer is YES and I had three perfect examples of this simultaneously sitting in front of my door.

Yes, there is a slight upcharge for groceries when you purchase from Instacart but it saves me hours from having to go to the store and do it myself.

Yes, I could probably find a housekeeper that may be less expensive but the convenience and trust that comes from working with a company that partnered directly with my building and completes extensive background checks far outweighs the savings in my opinion.

And as for the dry cleaning, in all honesty, it would probably be months before I got around to dropping my clothes off but because they eliminated the friction points involved in the process, they’ve successfully increased the frequency of purchase from their customers.

These examples just happen to be service-based businesses but the exact same thing applies to online courses.

Right now I’d gladly pay to learn from someone I know has the knowledge and experience I need rather than searching and trying to learn on my own for any of the following topics…

  • How to become more proficient using my Canon 70D DSLR.
  • How to cook chicken in a way that doesn’t end up tasting like rubber.
  • How to get my dog to stop lunging at other dogs when I’m walking her on a leash and inadvertently spill coffee, green smoothie, water or whatever else I may be holding all over me.
  • How to speed up my design workflow in Sketch App.

So here’s what I want you to take away from this…

  1. Your job as a course creator is to expedite the process of getting your customers results. If you can do this, you have the first critical component of a successful online course.
  2. It doesn’t matter if there are other people selling courses on the same topic. Customers are going to buy from people and businesses they trust and you can eliminate competition by forming a relationship with your audience.
  3. Don’t underestimate the power of strategic partnerships. Finding win-win solutions with other people and companies that are already serving your ideal target market is one of the fastest paths to growth.
  4. Make it as easy as possible for your customers to buy from you.

These are all examples of the "little" things that lead to big results when combined and executed in a complete product strategy.

In my latest episode of Online Courses Academy TV, I share the three key objectives that go into creating a full strategy for your online course that brings in substantial revenue for your business.

Click below to watch now.