You’ve worked for years, building a solid business that has steadily grown through referrals. But sometimes you wonder — is that all there is? Perhaps you see the years snaking out ahead of you and question whether you want to go on doing the same thing, with all of your income dependent on the clients that you see, day after day, year after year.
Consider the unique information and expertise that you have gained over your career, not just as a business owner, but through life experience and other professions that may have proceeded this one. You may have written articles, handouts for workshops, marketing plan, an outline for a book, etc. or produced some products to sell. Are these materials you created still working for you or are they static, sitting on a shelf, on your computer hard drive or in file folders?
You might be missing out on the opportunity to leverage that knowledge into an online course that could be bringing in loads of passive income in a booming industry.
According to Forbes.com, online education went from an impressive $48 billion industry at the beginning of 2015 and projected a staggering jump to $115 billion by the end of last year.
Let me share a story – in 2014 I was invited to speak at a large wellness conference in London. A colleague of mine from NJ was also invited; we were given a small stipend but most of the expenses would be “on us.” But what a great opportunity to travel overseas and be exposed to a massive new audience! Karen is a compelling speaker and author of 2 books. She schlepped a whole bunch of them to London, hoping to sell enough to pay her expenses. By the end of the 2-day event, having to bring them back and forth to the hall each day, she had sold a grand total of 7 — hardly a drop in the bucket for her out-of-pocket expenses.
I, on the other hand, brought only a few sets of books, intending to exhibit them and give some away. After my presentation, I sold an online certification course and broke even for my expenses. Two weeks later, following up with some prospects, I made a tidy profit.
In 2008 I was diagnosed with an auto-immune disorder and found that by radically changing my eating I could be free of the debilitating symptoms. I started writing about this and was invited to appear in a variety of media to share my story. I also recognized — with my background as a hypnotherapist â€“ that changing one’s eating habits was not something that could be easily accomplished without some subconscious help.
Holistic Health Coaching was becoming a hot new profession, attracting thousands to online and hands-on training schools. Because I recognized that I had the niche expertise of understanding the mind-body dynamics, I decided to offer the only combination “Holistic Health and Life Coaching” certification on the market. I officially launched the Natural Wellness Academy in 2013.
However, in late 2012 when I announced it in a newsletter to the ever-growing email list I had amassed through my appearances, I had 6 people sign up and pay even before I started sending course materials in March 2013!
Today we have students in 10 countries around the world and the income from my academy and program — mostly passive, once the course is created — has been enough to support me, as well as giving me the financial freedom to pursue other passions. Online learning offers flexibility to the student and global exposure of your brand.
Last year I decided to offer a hypnotherapy certification program and about 60% of my students have gone on from the coaching program to hypnotherapy. Online learning can convert clients into long-term customers.
In 2015 I worked with Karen to build her own certification course. Even as an excellent writer and presenter, e-learning curriculum and course creation is a very different paradigm. She went back to that conference and came home this time at break even, having easily sold a course, along with several prospects to follow up with.
Do you have specific expertise or a niche market that you are not exploiting to the best of your advantage? I am such a believer in the power and profit of e-learning that I am now working with professionals to help them leverage their unique knowledge into a money-making online course that works 24/7 — even when you can’t!
Send us an email or call (813) 892-3676 to inquire about our FREE 1/2 HOUR CONSULTATION. Let’s see what we can create!