There are a lot of good reasons for creating an online course – maybe you have a knack for teaching, love sharing your passion and interests with others, or maybe you’re simply looking for new ways to generate income.
Whatever it is that’s got you thinking about creating an online course, there are 5 benefits that will make your decision to launch that digital product of yours even easier!
5 Benefits of Creating an Online Course.
01. Courses allow you to leverage your knowledge and get paid for it.
Now I am willing to bet that you know how to do something that someone else is dying to learn.
Whether it’s cooking healthy meals, an exercise routine, knowing how to communicate with your spouse, or even knowing how to travel on a shoestring budget.
Whatever it is…
Just imagine being able to share your knowledge with someone and they pay you for it.
Well that is what online courses can do or you.
Athletes, coaches, fitness trainers, designers, real estate agents and entrepreneurs alike are taking their knowledge, experiences, and skills, turning it into an online training course, and making a living doing it.
Lewis Howes is living proof that you can turn a failed career in professional football into a multi-million dollar information empire with online courses. He’s a former football player, two sport All-American turned New York Times best selling author, investor and marketing authority that helps people turn their passion into profits online.
Charlene Johnson is proof that you can have a personal transformation and package it into an online fitness course. She’s one of the world’s top physical fitness authorities, the creator of PiYO, TurboKick and Hip Hop Hustle and now sells courses that help entrepreneurs leverage social media to grow their business.
Russel Brunson got started selling potato guns DVDs online. I mean come on. He now has a multiple million dollar a month online empire that included digital products, courses, consulting and software. But it all started with teaching someone else how to do something silly with a potato! (you’d be surprised what people are interested in).
You can entrepreneurs creating and selling online training courses on just about ANYTHING. And many of them are winning big.
So just think about it. What do you know that someone else is willing to pay to learn?
If you’ve gone to college or spent years learning on the job, then you have a lot of knowledge you can share with other people.
If you’re an entrepreneur and run your own business then an online course is the perfect way to showcase your expertise and let people know that you’re an authority in your niche!
If you’re a speaker, teacher, or author, an online course gives you something tangible to sell.
Maybe you’re obsessed with social media and know how to create viral content on sites like Tik Tok or Instagram, do you know how many people would kill to learn how you do it?
Having an online course one is one of the best ways for you to package up your skills, expertise and talents and create revenue on your own terms.
02. Creating a course positions you as an authority in your niche.
Remember when the cool thing was to write a book and become a published author?! Well creating and selling an online course will give you the same type of street cred!
Creating your own course helps to position you as an authority on your topic. It elevates you from weekend warrior to master, and indicates that you have enough expertise in that area that you can teach a course on it.
This authority makes it easier for you to promote and market the other areas of your business, and positions you as a credible thought leader that can lend their voice to interviews, podcasts and guest expert opportunities.
03. It helps build your customer product map.
Many successful businesses have what is known as a ‘customer product map’ – a range of product offerings that cover a wide range of price points.
(Think of Geico. They don’t just sell car insurance, they also sell homeowners insurance, renters insurance, condo insurance, boat insurance, etc.)
The point of a customer product map is to have a product for new or entry level customers who might just want to test the water with you, or only have a basic, non-urgent need right now.
But as these customers consume more of your content and become more familiar with you and the quality of the content you have to offer, the know like and trust factor will increase which makes it easier for them to invest in your higher ticket products.
Short, lower cost, and lower commitment online courses can make an excellent entry product for you on your customer product map. Obviously, lower ticket offers are less of a risk for people who don’t know you, and a convenient purchase for those who don’t want to spend more.
Longer, more expensive online programs can fill the need within your customer product map, for those people in your audience who want or need a higher (or more advanced) level of guidance to further their progress, knowledge, and skills.
04. Courses can create multiple streams of passive income.
I have created dozens of income streams from network marketing to speaking, brand design services to one-on-one coaching, but none have come close to generating as much revenue as information products.
Information products are low-cost, quick to create, and easy to sell. I can create a product one time, then sell it over and over again to people all around the world.
There is nothing to manufacture or ship, no inventory to store, and I don’t have to be tied to a desk, tied to a stage, or tied to a client to make money. I can be traveling, hanging out, or sleeping; regardless of what I am doing, I have the ability to make sales and actually make more money when I’m not actively working.
So just imagine, having not one course, but multiple courses that you can sell to drive revenue into your business. Even if your primary business is a brick and mortar or service-based business?
I am a true believer that NO business owner should ever rely on one income source, especially if that income source depends on physical interaction with customers. (just look at how the Covid pandemic decimated so many businesses!)
Diversification is key. By diversifying your income you will drastically decrease the chance of your business buckling when one source of income is cut off.
And online courses are an excellent, recession and pandemic-proof income source. If you have skills or expertise that are valuable to other people, or you know how to solve problems people are willing to pay to fix, an online course is your golden ticket.
An online course gives you regular, recurring income that can give you that little (or a lot) extra you need to make your life more comfortable.
And depending on the business model you use, you may not have to do a whole lot for that money once your course has been created.
If you look at the math, you can sell an online course for $500 and with 10 customers a month you could add an additional $5,000 a month to your bottom line – I mean come on, what could you do with that extra income?
If you got 20 customers, that would be $10,000 a month in profits – just from your online course.
And if you went with premium pricing (popular with coaching programs), then you’d only need 5 members a month paying $2000 each to achieve a $10,000 monthly income. Whoot whoot!
05. Courses will help you to scale your business.
Too many business owners limit their income potential because they can’t see past the “‘time for money trap”. Exchanging your time for money with service based or 1:1 coaching formats are not the only ways to make money!
And, don’t get me wrong, do what makes you happy but also know that there is an easier (different) way!
So, even if you don’t want to give up your 1:1 coaching, e-commerce or brick and mortar businesses – an online course can bring stability to your income and help you avoid the peaks and valleys that can come with a service based business.
And even better, if you’re able to execute a solid marketing strategy that builds your email list and drives targeted leads into your sales funnels, your course sales should be growing every month, meaning that your recurring income will grow every month too. What’s not to like about that?
When you create a digital asset and put systems in place you can sell that course you just created to a large number of people, without any additional time investment.
So making more money in less time is the epitome of scaling! And what all business owners strive for. Make more, without investing more time. So if you’re looking for a way to scale your business, and escape the time for money trap, creating and selling an online course could be the perfect solution.
So, how does creating an online course sound to you right now?
Whether you’re thinking of adding an online course to an existing business, or creating an entirely new business solely focused on packaging up your content into a course, hopefully, you’ll agree that there are some awesome benefits to turning your ideas into information products!
In order to make sure you get started on the right track with your online course, try asking yourself the following questions:
- What do you know that you can put in a course people will pay for? (i.e, think of special talents and skills you have, solutions you’ve come up with to overcome a problem, advice people are always asking you for)
- Are there other people selling courses on the topic or subject you want to teach? If they can do it, you can do it too!
- What pricing structure will you use, and how many customers do you need to achieve your desired income?
If you’re thinking of creating your own passive income-generating online course, be sure to check out additional resources at the bottom of this page. You can also join us inside of the FREE WomanpreneuHER FB Group for more tutorials, tips, and training on how to create 6-figure success with online courses and digital products.
Here’s to your 6-figure future!
P.S. *Use the Viral Content Startup Kit to get 365 Days of social media prompts, content, and live ideas to attract your ideal customers and clients. Click HERE to grab yours now.*