Full disclosure, Rob has been a client for several years and through our work together, he’s launched multiple online courses, which has grossed well over $100K in product-based revenue.
Topics We Cover:
3. Market and Sell: Enjoying content creation and having a liking for it is crucial in the online course world, but it’s equally important to be good at marketing and selling.
4. Service + Product Business: It is possible to have a healthy client services business while also offering courses, subscriptions, or even software, providing multiple revenue streams.
5. Test In 10 Hours: Transitioning from client services to building products involves a different mindset and upfront investment, but both can be profitable and complement each other.
6. The First $100K: The importance of validating and launching products or services using a Kickstarter-like approach to minimize risks and gather valuable feedback from potential customers.
Timestamps:
[00:06:45] Diversify business with courses and client services. Courses offer potential for infinite upside, while client projects have strict ceiling. Reframe courses as self-directed projects for psychological benefits.
[00:12:49] There is a significant difference in profitability between client services and self-directed projects. Client services offer more certainty, but there are psychological hurdles to overcome when transitioning to self-directed work. Both can be profitable and complement each other.
[00:15:58] Traditional jobs have perceived security but also involve risk. Just like flying is safer than driving, client services are not necessarily safer than products. Use a Kickstarter-like approach by selling the table of contents of a product or service before building it. This allows for instant validation and reduces the risk of investing time and money into something that may not be successful.
[00:23:43] Rob recommends Marc’s template to gather feedback on potential products through surveys. The survey asks questions about pricing and preferences, which helps identify the ideal price for a product.
[00:28:34] Creating and delegating course content was more difficult than expected due to stress and differing preferences among team members. Content creation requires a unique style and is not easily assigned to those skilled in other areas.
[00:31:44] Transitioning to new roles can have unexpected effects on the brain, and not everyone is suited for certain skills or tasks. Rob regrets not considering this when assigning live webinars and recording courses, as it caused more stress than anticipated.
[00:35:46] Helping people transition from conscious incompetence to conscious competence is valuable.
[00:37:21] Being able to move between stages of learning is essential for effective teaching. Empathy and understanding one’s own challenges are key.
[00:40:56] Importance of selling and marketing in courses.
[00:44:08] Reframing sales as a service that improves lives, not sleazy.
