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creating online course
Online Courses

#110: Are you making this crippling mistake with your course?

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So you want to create an online course? And you want it to SELL. So, “I’ll just make a cheap one.” You think. That’ll sell better, right? Erm… Let’s chat about that right now. 

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Things You’ll Learn in this Episode of Doing it Online:

  • Why a cheaper, smaller course is NOT easier or more profitable…
  • 3 steps to creating a high-value, profitable, online course…

As always, these notes are great! (If we do say so ourselves…) But, they’re just the tip of the iceberg. The podcast is the full berg. It’s big, and it packs a punch. So definitely go get hit with the full impact. This stuff is just too important to only skim the surface! 

Here’s the situation: you’re working with clients, sharing your expertise and knowledge in some way right now. Whether that’s through a membership site, 1:1 services etc.

And you’re hitting a ceiling. You want to grow and have more revenue, profit, and have more impact. 

…But there’s only so many of you. 

So! The people on Instagram tell you that the solution to this is to create an online course and sell that! 

That’s a good decision. However! 

The problem comes in with the decisions that people make next, in terms of what type of course they create, how they structure and price it. 

And if you get those decisions wrong, you’ll find yourself up against horrible outcomes like:

3 problems with creating a cheap online course…

  • You will have created HUGE amounts of work for yourself… but the return on investment (ROI) is terrible. 
  • Scaling still won’t be an option, because there’s no margin for marketing.
  • If people do buy the course, the chance of them actually doing it, aren’t high. 

I go into these points in more detail in the episode, but let me just say that when  investment is low, people don’t value it, so they don’t do it and get the outcome, and no-one wins.

However! 

[PA-DING!] You know what that sound means, it’s time for a…

Kate Caveat…

I’m not talking about just sticking a zero on the end of your program and dusting your hands. Big fat no. Skin-crawling stuff. I’m talking about finding a balance and designing a program that works for you, (you run a business, not a charity), and that’s actually going to help your client get the best possible results. 

And we’ve talked about pricing a BUNCH over here. You can check out this episode here if you want to dive into that a bit more. 

Why a cheap online course seems like the answer…

Like I said, I get why people think cheaper is better when it comes to creating an online course, but why is that? Why do we think cheaper is the answer?

3 reasons!

We think…

  1. It will be easier to sell… 
  2. A premium offer will be more work for them to create and market…
  3. “What I’m creating isn’t that valuable…”

Ok, first of all, is a cheaper offer easier to sell? 

Fractionally. 

And if a premium program brings in 10x the revenue than a cheap one, and is only fractionally more difficult to sell, then what makes more sense here?

The value still has to be there. The price has to be a fair exchange of value, but just making it cheaper simply isn’t going to make it more profitable. 

Is a premium offer less work to deliver?

No.

If you do it right, it’s actually going to be a very similar amount of energy input from you whether it’s a cheaper or premium program. (I go into this more in the episode, so definitely give that a listen.)

Is what I’m creating valuable?

What if you’re here and thinking that you need to create a cheap course because your work isn’t that valuable? Honestly, you’re probably just undervaluing yourself and undercharging, a lot of people who first start to work with me are. 

But if you’re still not knowing deep down in your soul just how important and impactful the work you do is, then maybe it’s not the right time to be creating a program. Spend time listening to your audience, honing your skills and tuning in to who that person is you love to help… 

And then, come back and create something amazing…

3 steps to create a premium, high-value online course…

Ok! So now let’s dive into the 3 steps to creating that epic, premium, super high-value online course of your dreams…

Step #1: Choose the right problem to solve…

It needs to be ONE problem with a clear outcome, that people truly value. Plus, it needs to be a problem that you actually enjoy helping people with. 

Step #2: Choose the right market to solve it for…

You need to choose a market that can easily afford your solution, and really values the outcome. As in, they’re going to freaking love you for helping them solve their problem and enjoy the experience. 

This will allow you to have a more profitable business, and make a bigger impact in the world because you have more profit to be able to. 

If you set your base pricing around the most broke person on your list, you’re doing everyone a disservice. You can not price out of guilt. Remember, you’re running a business, not a charity. 

Step #3: Choose the right way to deliver it…

Right now, start with what’s the simplest, easiest way you can do this while still providing high-value. That probably means rolling up your sleeves, getting your hands a bit dirty to start with. Which is great, because it’s going to give you a lot of contact and feedback – all of which you need to make sure that your program is freaking amazing. 

As you get more people into your program, (and because you’ve priced it in a profitable way), you will be able to afford to add in other components, like guest coaches or mentors and other things that make your program an incredible place for people to be…

Want to turn your 1:1 services into a high-value course? 

We’re doing a special bonus training on this next month inside eCourse Empire. It’s going to walk you through how to take your 1:1 services into a more premium program, OR how to restructure your existing online course into a high-ticket group program… 

So, if you want more help with this, make sure you join us in eCourse Empire before applications close on 10th August, Aussie time! (Which is 9th August for almost everyone else.) 

Click here for all the details and to apply now! 

 

Are you making this crippling mistake with your course? Are you making this crippling mistake with your course?

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