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#53: Creating and Marketing Online Courses for Passive Income

Today's Guest

What You'll Learn

Online courses have become an essential method for how people learn in modern-day. Therefore, creating online courses can make for a very profitable income stream with many entrepreneurs achieving 6- and 7-figure incomes.

Whether you're looking to run a business purely based on online training or you're just looking for a new income stream, creating an online course could be a smart next step for your business.

The thought of creating an online course can be daunting. There is, after all, a lot of work to be done before you can "open the doors" and start making money from your online course. There are also a lot of things to consider:

  • What topic or knowledge do you have that can be turned into an online course?
  • Will it be a course that people will want to buy?
  • How will you structure the course so it helps the student achieve their goal and achieve positive reviews?
  • How will you promote and market the course?

For the answers to these questions and many more, I turn to online course marketing expert, Tom Libelt.

As you'll discover, online courses can be very profitable, but it's also easy to make mistakes. For example, some topics don't transition well to online training and some courses can end up overly complicated.

No-Nonsense Approach to Creating Online Courses

One thing I found interesting about my interview with Tom is his no-nonsense approach to creating online courses. Tom calls it as he sees it. Just listen to what he says about MBAs. He doesn't sit on the fence and I commend him for that.

It's the same way when he talks about passive income. He's realistic in that you have to do the work up front. You also have to update your marketing from time to time because no marketing campaign works forever.

"Passive income - it's passive once you do the work up front... Otherwise it's not passive. It will never be passive." - Tom Libelt

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As always, there was lots of great tips and ideas in this interview, but there are some I particularly want to highlight:

  1. 1
    Online courses can be very profitable but ONLY if you have a solid marketing plan. Building the darn thing is not enough!
  2. 2
    Be careful about creating courses with a vague value proposition. Life coaching, meditation courses, healing crystals - these can be a disaster unless managed correctly.
  3. 3
    Give your students what they need and nothing more. Remove the fluff. Padding a course out won't convey more value. It will bore your students and keep them from completing it.
  4. 4
    Include plenty of examples and case studies that show people how to use the information you are presenting. It will help them with the implementation and give them confidence that what you're teaching works.

Ideas for creating an online course

If you listenend to my last podcast episode with Kenda McDonald you'll know that content marketing can be a great way to generate leads for your business. The good news is that anything you create here can be repurposed and used in an online course.

Blog posts, LinkedIn articles, case studies, videos you created for YouTube or Facebook - they can all be repurposed for an online course!

As always, I'd love to hear from you. Have you got an idea for online course of your own? Come and tell us about it in the Get Real About Business Podcast Community or leave a comment at the bottom of this page.

If you'd like help with it, book a Discovery Session with me. I've been developing online courses for years and I love sharing what I've learned about it. Heck, I can even put my team on it if you need it.

Links mentioned in this episode:

Note: Some of the resources below may be affiliate links, meaning I get paid a commission (at no extra cost to you) if you use that link to make a purchase.

Hey, Thanks for Listening

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Special thanks to Tom Libelt for joining me this episode. Until next time!

This episode is brought to you by:

My very own business growth programme, the Get Real About Business Mastermind.

Surround yourself with experts and get top-notch advice to increase profits in your business and scale it for greater impact. Apply today for a complimentary Discovery Call and find out how a business mastermind can help you take your business to new levels.

About the Author Clive Maloney

Clive is the founder and small business coach at Get Real About Business. He specialises in teaching business owners how to make more money, more easily, while enjoying a business and lifestyle that reflects their priorities. When not coaching and training, Clive hosts the Get Real About Business Podcast in which he shares the mic with world-class experts from around the globe to discuss marketing and business growth strategies.

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