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 todays 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 gets you thinking about how you can do the same!
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.
The first step to making this a reality is understanding the three phases of the course creation process so you can implement just-in-time-learning and focus on the most important next steps instead of getting stuck in analysis paralysis.
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.
***You are in this phase if you are have not yet finished outlining your course or if you are in the process of creating your content.
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.
***You are in this phase if your content is already created and your ready to build your membership site.
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.
***You are in this phase if your membership site is near completion or if you have hired a company to design/develop your course for you. Therefore, you have the time and energy to focus on planning your launch.
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.
Online Course Examples
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.
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.