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How to Build an Online Empire using E-Books and Courses
How to Build an Online Empire using E-Books and Courses
As every successful entrepreneur tells us, building a profitable and sustainable business requires a lot of hard work and perseverance. Building a company that sells online courses is no exception.
And while many online courses create hope to eventually earn a full-time income by selling their courses, most of them build their business part-time until they can confidently commit full-time without risking their income.
What’s a full-time income?
We asked, and it turns out that for most online course creators, the amount of annual income needed to justify full-time work in their company is $ 100,000.
For an early stage course builder, $ 100,000 may seem like an ambitious income goal. Note that the resulting net income (ie. benefits), having reduced taxes and expenses in this amount, is comparable to the average family income of most families in the United States.
In other words, it takes about 100,000 annual income, such as the owner of a company, to generate a profit comparable to the annual salary of the average employee.
In this sense, we contacted our network of course creators who have generated more than 100,000 más annual income through online courses. Our goal was to identify a proven framework for growing online course business 6 numbers or more with annual turnover, a framework that can also be applied if you are starting from scratch (no list, audience, etc.) or building a part-time business.
Interesting fact: according to Wikipedia, if you earn 100,000 USD (USD) for one year, it immediately puts you in the top 0.08% of earnings worldwide. Great job!
5 myths about building a successful business by selling online courses
5 myths about building a successful online course business
When asking more than a dozen 6-picture course creators how they built their business, we found several false, but generally accepted, assumptions about what it does to create a successful company selling courses online.
We want to officially dispel these myths to you now:
Myth # 1: you need big launches to build a big company
Despite the hype, major launches are definitely not a requirement to build a successful online course business. Many course creators, especially those who maintain member sites with recurring monthly subscriptions, avoid the start-up model altogether. Instead, they create automated sales and marketing systems that constantly attract new customers.
It should also be noted that almost invariably people who run an online course launches which generates tens or even hundreds of thousands of dollars in income in a short time have several benefits, including:
Established brands (authority in your market)
Several years of business and marketing experience
History of other courses and / or product launches (also known as practice!)
Large audiences who know, love and trust them (mailing lists, social media followers, etc.).)
Relationships with joint venture partners that help promote your course
A respectable marketing budget and strategy for launching it
People and systems in place to prevent accidents
Since the majority of online course creators do not have these advantages, at least in the early stages of building their business, running develop and tuned course launch is simply not possible. This does not mean that it is not possible, but for most early career course creators there are better things you can do with your time and resources.
As Scott Oldford says in our business advice article, ” money follows momentum, not perfection-just get started and get sales-that is the most important part of the beginning.”
In fact, just launch we encourage course creators at an early stage to have a small one that aims to validate the application for your course and collect feedback from students, before investing more time and resources, improving and promoting your course.
“If you want to build a real, sustainable and long-term business, you do not need to launch. What you really need is the engine (funnel), which you can fill with gasoline (traffic) at a profit.”- Sergio Estévez
Myth # 2: you must create many courses
Most people we talked about are born more than.100,000 in annual income from its online course sales did so in only 1 or 2 courses.
Instead of creating a large number of training sessions, focus on creating a course for a specific audience. Once you have created a course, change your goal of having as many students as possible in that course before you start creating a new one.
“When I got the 6 numbers, I had two courses. One Facebook Facebook Facebook Facebook Facebook Facebook Facebook Facebook Marketing Course was a rudimentary course on how to start Facebook Marketing 9 97 and the other was a signature course Facebook 497 to create a Facebook marketing plan.Open system.
Myth # 3: you need a wide audience
Your audience size is important, but not as important as you might think. The obvious advantage of the general public is the ability to reach more people. If you have 10,000 people on the mailing list, for example, emails are read by more people than if you have 1,000 people on the mailing list (everything else is the same).
But the size of the audience is not as important as the relationship you can build with the audience. A small audience that knows, loves and trusts you is much more valuable than a large audience that barely knows who you are.
“You don’t need a big list to reach 6 figures, but you need to care about people’s list and do everything you can to serve them excellence. 6 to reach the number, you only need 200 customers at the price level of 5,500.Open system.
Myth # 4: the course must be perfect
Perfectionism has prevented more course creators from publishing their courses than perhaps anything else. But there’s a big problem with perfection: it’s subjective.
What you think is perfect is probably not the same as what customers think is perfect. The course also does not have to be perfect for it to be valuable. If the course is good enough to help someone, it’s good enough to publish. Published is better than perfect.
“Money follows speed, not perfection. This means you don’t need your website or course to be perfect. I have re-recorded our main product six times since its inception in May 2015. just started and getting sales. This is the most important part of the beginning.Open system.
Myth # 5: you have to sell expensive courses
You don’t have to charge thousands of dollars for your courses to get 6-digit income. Many course creators reach 6 chapters by selling courses for a few hundred dollars, sometimes less.
A popular pricing strategy is to create an inexpensive (or even free) introductory course that increases the sales of a more advanced course at a higher price. With this approach, you can sell multiple courses with the same customer, and do not need to acquire a new customer for a high price for each sale.
Another approach is to create a membership site with continuous training, charging students a recurring monthly fee payment rather than a one-time purchase.
“When I reached 6 annual sales figures, I had just over 4,100 people on my mailing list, 3 courses (ranging from $ 100 to 3,360) and a handful of e-books(priced from $ 5,660). Many of my books and courses built on top of each other, so the customer often bought several products from me in a short time.”- Queen Anaejionu
Don’t let myths stop you from building a successful business
Demand for online education is booming right now, so courses and training related to the creation and sale of online courses are not difficult to find.
And while there is a lot of excellent training, created by people who have proven to create and sell successful online courses, there are also not so good training.
Watch out generally for anyone who tells you that online courses can be created and sold in only one way. With thousands of people and companies selling courses on Thinkific, we have seen the data. There is more than one way to build a successful online course business, and we have numerous case studies to prove it.
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