Online course vs coaching program? Are you wondering which one is more profitable?
If you’ve been wondering whether to launch a one on one coaching program or a digital course - my 11+ years of business experience will help you figure out what is going to be best for you, your customers, and your business.
I’m going to share with you ALL I know about going down the path of launching coaching programs, digital courses, and actually creating a business model that serves you best.
My suggestions might surprise you, so stay with me as we dive in!
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This week, since we are talking about creating a profitable course, I have My Social Media Business Playbook with a clear, 5-step roadmap to help you build a successful online business, even if you're just starting out. You can download it by clicking below.
This is actually part four of a four part series where we have been talking about creating digital courses. In part three, I gave 7 Profitable Online Course Ideas (create a course that leads you to financial freedom).
When it comes to my journey, I’ve done both coaching and moved to creating digital courses.
I’m going to explain to you how I made this work, because once I made that work, I quickly transitioned into creating a digital course to leverage out some of my time.
There is no “one shoe size fits all". This is going to be very specific to what you love doing.
A. Coaching (This can typically be a group or one-on-one real time coaching; in person or via zoom)
Pros
- It’s very fast and it’s very easy to set up;
- Personal interaction with your people;
- You get fast, real-time testimonials.
Cons
- Trading time for dollars. If you’re doing real time coaching, that means you have to be present for the coaching;
- You have to follow a schedule (I personally didn’t love being on anyone’s time schedule);
- Scalability. It may be difficult (not impossible) since you’re really giving your one-on-one time even if you venture into a group setting.
After I learned the downfalls of coaching for me, I wanted to create a more leveraged way to still be able to make an impact with my information with my people.
I moved from coaching to creating a digital program which stemmed from what I learned from my one on one coaching.
After going through this training episode, you might want to read about How I Made $250,000 With My First Online Course.
I used to run an annual in-person mastermind called The Ultimate Branding Experience where I coached my clients on how to build their email list, create automated sales, and attract an engaged audience.
I did this workshop for six years where I could only work with 50 people so I could give them the same one-on-one contact that people were actually paying for.
My people would pay $6,000 to $8,000 to be part of it so I really gave them my time to meet their expectations.
Fast forward to 2020 where live events were no longer being done.
I had to think about how I can make this curriculum available to people who want to go through it.
I ended up creating a digital course called My List Building Bootcamp.
Unlike the mastermind, we reduced the price because it wasn’t in-person. It was essentially the same curriculum that I taught in the Ultimate Branding Experience - it was just pre-recorded.
I put the lessons into modules and walk them through workshop setting style. It was as if I was with them in their living room coaching them.
We reduced the price but we were able to scale this in a massive way.
We enrolled 622 students inside of that program and I was able to 8x my income and my impact with that online training program.
B. Digital Program - Is something that is pre-recorded where people can get access to you whenever and wherever in the world.
Your customers/clients can log in and access videos, tutorials, and checklists that you’ve already created.
Pros
- Highly leveraged format and better learning experience for your people;
- Scalability;
- Bigger impact with more people;
- Pure Passive Residual Income
Cons
- Takes time to create - front loaded work;
- Occasional updates are required;
- Some tech setup needs to be implemented/Members Only Area.
Back in 2014, when I launched my very first digital course (read about How I Made $250,000 With My First Online Course.) I really wish I would have had more training on Steps To Finding a Wildly Profitable Online Course Idea or how to implement the best digital course idea out in the marketplace so that it’s most profitable. Training that will help you go from point A to point Z in your digital course creation world.
The Revenue Multiplier Masterclass | Free Online Training Class Happening Now - How I'm Attracting Perfect Prospects & Teammates Everyday, That WANT To Sign Up With Me… All On Autopilot, Using An Unconventional Digital Marketing Strategy That I Know You'll Be So Excited To See & Use In Your Business!
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