Creating Courses is a Great Way to Generate Passive Streams of Income
Jun 06, 2022
Before we dive right in, welcome! You’ve now entered into The Dreamer’s Lounge! I’m Ariel Schiffer, and I have made it my mission to take out the digital trash one bad course at a time. I am the creator of The Course Alchemist, Industrial Organizational Psychologist, and Curriculum and course design expert.
This podcast is for entrepreneurs who are looking to elevate their digital product suite so their offers speak for themselves. Nothing is worse than being oversold into something that under-delivers just like an overpriced bottle of wine. So, if you’re ready to develop high-quality offers, bring in consistent revenue, and have a business with long-term results for you AND your clients, grab your drink and join us inside…
Want Passive Income Streams? Try Your Hand at Course Creation
One of the most common questions I get is, how do I create multiple streams of income if I’m already pulled in so many different directions? If you are a small business owner, chances are one of your main goals is to try and reach as many ideal clients as you can. This is no small task, especially if you are chronically busy (and if you own your own business, you probably are).
Revenue is a great way to measure not only your success but also gauge the impact of your product or service. And as luck would have it, there are endless ways to develop and leverage your course AND your business and help extend your reach that much further.
Practical Ways to Broaden Your Horizons
If you are investing so much time and energy in not only your business but also your courses, you want to make sure you’re maximizing your impact; the best way to do this is to find out what works versus what sounds good in theory and then executing the viable options.
Below you’ll find a list of practical ways to incorporate courses cohesively into your business to leverage profits and increase engagement:
- Self-led course
These make a lot of people nervous. While there’s lots of work up front, you kind of just leave your learners to do with the course what they will. Will they get it? What if they can’t understand it and blame you- I’m here to tell you to have a little faith in your learners. Self-led courses are great to have on deck for the very reason that they are hands-off, and as long as the courses themselves are quality content, you shouldn’t have any problems with effectiveness or ease of use.
- Group Programs
So while group programs do require your time and leadership skills, they’re efficient since you’re reaching multiple people at once, instead of individual teaching. These are typically best for beginners who still need a lot of guidance as they learn the basics of whatever industry you’re in.
- Masterminds
Masterminds are similar to group programs, except these are aimed more at those with experience in the industry you’re creating for. These meetings are more like think tanks for students with knowledge of the subject- spaces perhaps facilitated by you to help people brainstorm collectively, and develop new ideas.
- Break-up Your Course
Another great option for your course development is to break it up. Multiple digital components create an instant sales funnel and allow your customers to customize their own course and offer them flexibility to learn what they want on their time.
- Maximize Quality
This one should go without saying, but your courses are reflective of your business as a whole. This means that your courses should be up to your standards, and make people want to not only invest, but also keep investing. Once people associate your courses and content with the utmost quality they’ll trust you to help them with any and all transformations they seek going forward.
- Your Course Should Be the Backbone
Again, your course should encourage people to check out the rest of your business, and vice versa. This reciprocal, self-sustaining marketing tool is invaluable and ensures a steady stream of consistent engagement and revenue.
- Create an Education Platform
This fosters a sense of community among your clients, and it also goes a long way to showcase your knowledge of the subject you teach.
- White Label
Go through the proper legal channels to ensure your course is sellable to other organizations for their own personal use.
- Sell to Organizations or Higher Education
As mentioned above, if your course is not only legally available but adaptable enough, there is a great opportunity to sell it to organizations or even colleges or places of higher learning.
- Create a Hybrid Course
Take programs you already have, and adapt them to individual clients as well as a curated program for a particular client.
Parting Gifts: The Bottomline
Before I leave you I’d like to remind you of a few important things to keep in mind, as well as questions to ask yourself going forward in your business pursuits. Not only is it so important to remember your why and your overall goal, it’s also important to implement change when needed. This can often look like truly hearing client feedback, as well as addressing any question that repeatedly comes up and incorporating that concept somewhere in your course.
I know millennials especially won’t want to hear this, but lastly, sometimes you really do have to slide into some DMs, reach out, and network. It won’t kill you to have a power lunch or make a few phone calls, especially if it ends up with you selling a course to a Fortune 500 company.
If you enjoyed the episode please take a second to rate & review. Each review helps me fulfill my mission of improving the quality of learning in the online business industry. Don’t forget to take a screenshot, share it in your Instagram stories and tag me @dreamprocourses.
See you next week!
P.S. - Creating a truly transformational course doesn’t have to feel overwhelming! Join The Course Alchemist today to begin concocting your secret elixir for creating courses that deliver extraordinary transformations and leave your clients spellbound.
Let us show you the focused path to course creation.
Dreampro Course Camp™ is your map through the course creation wilderness, showing you the easier path to creating innovative courses that get s’more results for your students
(and for your bank account).
