In the world of online business, the pursuit of passive income through launching online courses has gained a LOT of attention. Everyone and their mom wants to launch a course or digital product. However, before you take the plunge into course creation, you might be wondering, "Should I launch a course? Am I ready?!"
I've been selling online courses and services for 11 years. (Yes, I am an online business grandma.) So if there's anyone who can help you understand whether you're ready to launch a course or if you should focus on client work, it's me.
In this article & podcast episode I'm going to share 4 things you need in place before you should even think about launching a course or digital product…
Hit play on the player below or keep reading!
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Transcript
In the world of online business, the pursuit of passive income through launching online courses has gained a LOT of attention. Everyone and their mom wants to launch a course or digital product. However, before you take the plunge into course creation, you might be wondering, "Should I launch a course? Am I ready?!"
I've been selling online courses and services for 11 years. (Yes, I am an online business grandma.) So if there's anyone who can help you understand whether you're ready to launch a course or if you should focus on client work, it's me.
In this article I'm going to share 4 things you need in place before you should even think about launching a course or digital product:
Are You Ready to Launch a Course?
1. Do You Have at Least 1000 Engaged Subscribers on Your Email List?
When considering launching a course, email list size matters. On average, only 1-3% of subscribers who enter an email funnel, such as a webinar funnel, convert into course sales. If you have 500 subscribers and 250 join your webinar, with a 1% conversion rate, you're looking at approximately 3 sales.
From that you can predict that to make 3 more sales, you'll need to get 250 more people into your webinar funnel. (You'll actually need more than that because the 250 who joined last time were probably long-time fans of your work. The next 250 will be newer to your brand, and therefore convert at a slightly lower percentage.) However, growing your email list can be challenging if you're totally new to it.
To sell 1:1 services or done-for-you services though, you don't need a big audience. One of my course students got a client from Instagram even though she has less than 500 followers! So if email list and audience size isn't on your side, focus on selling services and growing your audience for now.
2. Do You Have a Desire to Grow an Audience?
Selling courses is all about numbers. The more people in your funnel, the more sales you can generate. To succeed in selling courses, you need to excel at audience building or be willing to build one. This involves being seen as a leader in your niche.
If you're not keen on focusing intensely on growing your audience every month, a client-based business might be a better fit. You can still earn a substantial income without a large following.
3. Do You Have a Proven Framework to Teach, & Results to Back It Up?
Never sell a course on a topic you haven't mastered yourself (or helped your clients master.)
Selling a course on getting booked out when you've never been booked out, or building a six figure business when you've never built that... it lacks integrity.
People join courses with testimonials and social proof. Your expertise should be unquestionable.
If you haven't got proof of the result you want your course to help others get, you need to work with clients and build up testimonials and social proof. THEN package your expertise into a course in the future.
4. Solid Business Foundations
You need solid business foundations before you try to sell a course. Without them, your course will likely flop.
Foundations like:
A Super Niche: Combining your top passions to create a "super niche" can prevent you from feeling confined in your niche.
Profitable Messaging: Clear and precise messaging is crucial for businesses in 2023. Vague messaging kills online businesses. Your target audience should understand what you offer immediately. If they don't, they're clicking away!
True Fan Tribe: An audience that is more than just a following, they're a community. You are their favourite person to follow online. They can't get enough of your content! THIS is what a true fan tribe is.
If you haven't addressed these 4 things, it's crucial to do so before launching of a course.
While the allure of earning income while you sleep is enticing, creating a course is a time-consuming journey. And it's best not to start investing time in it if you don't have these 4 things in place.
If you've realized that you're not quite ready to launch a course and need to focus on attracting clients (for income now) and building your audience (for a course launch in the future), I have something that can help you:
Check out my free guide on booking online clients consistently and building a 5-10k/month online business working just three days a week.
In this guide, you'll learn:
💸 How I made an extra $45,178 in a year converting Instagram reel viewers into paying clients & students.
🔥 5 steps for a $5-10k/month online service biz working 3 days a week.
👉 More pricing frameworks. ($10K months included.)
🚀 The top mistake keeping your income under $5k/month.
About Nesha
Hey there! I’m Nesha, 10-year traveling entrepreneur and host of The Simple Business Show. I teach online service providers how to make a full-time income online without working full-time hours, so they have the time, location and financial freedom to live the lifestyle they dream of.
Looking for more ways I can help you? Here they are:
1:1 Coaching: Work with me on an intimate level to take your business from where it is to where you want it to go.
Group Coaching Program: The Simple Business Builder. Join the waitlist.
Organize & Automate - Join 1200+ students and learn how to organize your entire online service-based business in just two weeks (on the side of your regular routine!) so you can stop stressing and fall back in love with your business.
Simple Sales School - Learn how to get a consistent flow of clients so you can build the income & financial freedom you desire.
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