LADDER OF RESOURCES FOR YOUR ONLINE COURSE
An inside peek at the systems running the show as you hit each revenue goal with your course or membership! Start at the bottom and work your way up the ladder!
Now that you've proven that your course will sell this step is all about growing revenue and making your customer experience inside your course the best it can be.
Keep your eyes on the prize! Stay steady in the flow of this course and avoid the temptation to do more or create more courses.
After running my online course for a year I had the *brilliant* idea that I'd be able to make more sales by creating lots of mini-courses for $20 each that I could sell, give away, or use as bonuses to promote my site design course.
Boy, was I wrong!
By the end of 2015, I had 30 mini-courses that each took tons of time to market, create, and deliver to my customers. My customers quickly got confused about what they should buy from me... my $897 course or my $20 mini-course.
I spent 90% of my time working on mini-courses that were 10% of my income and these mini-courses slowed the sales of my signature course down to a trickle.
All because I thought I needed to make more stuff or have more stuff to sell!
You're still sticking with the 30% in expenses to your revenue so when you move from $25,000 in sales to $50,000 you earn $7500 more to use towards expenses.
You can use your expense money to revamp your branding, hire a copywriter, invest in a Facebook ads expert, or use it to fine-tune your course site.
RECOMMENDED TECH TOOLS
Anything that enhances your workflow, makes creating videos or PDFs easier or helps you streamline tech stuff.
At this stage, you'll want to have someone helping you (without hiring a full-time tech team) so that you can focus on delivering value to your course participants without getting sucked into "working on your website."
In this step, you're excited about the possibility of creating a course and having your first paying participants. You're also feeling a little bit like a fish out of water because you've never done this before.
Creating the best content possible for your course and delivering it in the simplest way possible so you can grow to $25,000 in course revenue as quickly as possible.
All the things add up quickly in this step and you're not sure how soon all of your hard work will pay off. You want to keep a close eye on your expenses and tools you use.
I vote for investing your money in tools and systems that grow with your business so you avoid having to migrate or move things to bigger systems later (which can get expensive!)
You should be tracking your expenses and spending $7500 (30% of revenue to expenses) or less in this step.
*Please note! I did not have a budget for my first online course in 2014. I created it and tried every theme, plugin, and tool under the sun. I hit $25,000 in sales in my first six months (YAY), but my expenses totaled a whopping $19,500!
I don't want your expenses to go unnoticed in this step because you're excited (like I was) to get everything up and running, but not sure how to make it happen.
- Pumpkin Plan: by Mike Michalowicz. Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
- Profit First: by Mike Michalowicz. Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
- Courses That Convert by Amy Porterfield. Learn how to create your first profitable course from A-Z.
- BeaverBuilder Pro WordPress theme and page builder plugin.
- ConvertKit email marketing system.
- Infusionsoft email marketing system.
- AccessAlly Pro membership plugin for WordPress.
- New Kajabi all-in-one membership system that's perfect if you don't want to use WordPress.
**Disclaimer: I'm not a financial guru or accountant and share this info as a resource to help you avoid making costly mistakes early in your business. The recommended tech tools section uses affiliate links. That means I'm financially compensated at no additional charge to you if you purchase a tech tool using my affiliate link.