You’re probably considering adding another stream of income. Perhaps your goal is to leverage your expertise with a business model where you stop trading time for money. If that’s your case, creating an online product makes sense. It allows you to make some money without having to incur in labor cost and other expenses that a traditional business has.
Typically, we see companies and individuals like coaches, consultants, and service providers, using e-Learning platforms to do the following:
- Developing a training system with remote access so their employees can work from anywhere
- Attracting cold leads
- Creating new business models so they can stop trading hours per money
- Increasing sales by penetrating new markets
If this list makes sense to you, then, these 3 steps will help you to jumpstart your business.
1- Define your target audience: who will most likely buy your course right now? If you have clients waiting for your program, start with them. Don’t keep waiting. Take imperfect action and launch the program. You might want to give those first clients a special rate because they are your “first generation”.
2- Define your competition: e-Learning products are in high demand. We have access to so much information, that attention has become the scarcest resource. Identify who are your competitors and design your unique valuable proposition, leveraging what they offer, and adding your unique brilliance. Don’t copy their model. This is a big mistake that can cost you hundreds of thousands of dollars.
3- Add perks: Once you have designed your e-Learning course, think about the extras. What can you give your clients that don’t cost you any money or time? Perhaps, access to a secret group, access to the recorded lessons, a free ticket to your next event, discounts, bonus? We call these perks! Everyone likes to feel that they are getting something extra!
These 3 steps are crucial to creating your business model. We have created multiple million dollar businesses using these 3 simple steps and they work great. However, there is something that we want you to know… the demand for e-Learning products has become more conservative in the United States.
You might want to consider a marketing strategy that allows you to find clients globally! Watch our video about the ugly side of e-Learning courses.
We would love to have a conversation about your e-Learning product! Hit the contact button and let’s talk very soon!
