I need you to sit down for this, because when I tell you how big the market is for online courses, you’re going to fall over. If you fall off your chair, at least you won’t fall quite so far.
The market for online courses was $57 billion in 2014. It was expected to double in 2015, and continue to grow from there.
Imagine getting just one teeny tiny slice of that pie? Holy cow, right?
When I saw Derek Halpern’s video about “How to create an online business that sells online courses,” I didn’t know my mind would get blown quite so dramatically. But now that I’ve watched it, I want to create an online course (and I bet you will too, because it’s way easier than I thought)!
Other than potentially making gobs of money, why should you bother creating an online course? Two reasons: Courses help people afford you, and you don’t have to trade your time for money (aka, it creates passive income).
Here’s what I learned in the video about how to create an online course:
Find an idea
If you want to create and sell online courses, you need a good idea. Obviously. So, here’s how to find an idea in 15 minutes or less:
1 – What skill so you have that people ask about all the time? Create a course that teaches people how to do it.
2 – Do people always come to you with the same problems? Create a course that solves those problems.
3 – Don’t have a great idea? Find the pain and eliminate it. Go out into the real world and research problems – aka, find the pain. Find three or four bestselling books on a topic that you’re interested in. Read the five-star and one-star reviews, and look for trigger phrases (people complaining about a problem).
List all the problems and solutions, as this helps you understand your customer. Imagine a friend came to you with the problem. What would you tell your friend?
Create solid content for your first course
The content of your first course has to be great, but – surprise – the quality doesn’t have to be perfect. Use your first course to see if it people want it and will pay for it before you spend a lot of money on high-quality production. If the course takes off, you can go back and re-produce it.
Don’t create an eight-week course right out of the gate! It’ll be expensive and take a long time to complete. Create an entry-level course instead. Derek’s first course, which he readily admits was super low quality, included a handful of videos and a worksheet. It took him three weeks to create, but it took off, thus proving that he could build a business out of online courses.
What do you think? Are you ready to create an online course?
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