Do you want to finally turn your dream of being a 6 Figure Course Creator to reality?
In this post, I will cover time-saving and productivity tips on how to take your online course from dream to done like a boss!
Frankly speaking , as a full-time 8-5 pm corporate job employee, when it comes to creating an exceptional online course, I tend to procrastinate.
Let’s be honest, creating content for the online course is not easy solely because it takes a lot of our time to do research, outline, organize ideas, and to actually produce the course. It’s a lot of work! We need to juggle between business, 9-5 work and daily life.
But if you have a system and tools in place that would take off some of your burdens, then everything will be a lot easier and seamless.
This is my favorite tips! If creating your course content is giving you nightmares, use shortcuts such as premade content and premade templates for online course business.
Try using Done-For-You content packages and teach your tribe with content in it.
You will not only get top-quality lessons on various topics, you can also customize and brand the content and really make your own.
Create a checklist, action plans, exercises, resource directories and more using the done for you content..
Using done-for-you content will cut your work enormously.
And not only, the done-for-you content is well-researched; but it also covers tons of topics that you might not think of.
(P/s Female CEO Club -my membershipalso offers a VIP Club which allows you to have full entire shop access to my products including done for you content, including forms and kits.)
You can take it a step further by adding your own unique voice to this structure, basic lesson content that you can expand on and customize yourself.
2. Use premade templates
You can also use helpful templates and software to set your course landing page and sales page up like Elementor or LeadPages® as a page builder that provides customizable, brand-able templates that will certainly fulfill this need.
This way, you can just plug and play the templates with just one click of installation. Plus there are various elegant, fun, and aesthetic templates that you choose and purchased online that fits your own style..
An example of the Sales Page Template made using Elementor is my own Bright and Sunny Sales Page Elementor Template.
The sections are strategically designed to walk your audience from problems to solutions which is your amazing course. It also has built-in bullets, checkboxes, and a pricing table that makes selling your course easier.
1. Cheap and affordable – for only $49, you get access to their Pro features. And if didn’t require annual support, you can just purchase one time
2. Work flawlessly with self-hosted WordPress.org . I love set up my business using WordPress.org because the monthly cost doesn’t take an arm and leg. This way you can run your course business at low risk with low investment which is perfect for solopreneurs and beginners!
3. One-click installation. When you install the templates right, everything will look just like the demo! So what you see is what you get. You only need to customize the colors according to your brand and add in a few related links.
This way you can cut the cost of hiring designers and web developer because the installation is so easy!
These Elementor templates also save time… and, more important, it give you a consistent structure and layout. This helps your business look and feels professional and well-organized.
3. Use predesigned course Canva templates
Canva is my favorite design tool and one of the tools that I swear by in my life.
With these Canva templates, you can create as many courses and as many modules and lessons using the same repeated design, branding, and structures. You might change the style once in a while but branding repetition is key.
Why? Because repetition is one of the key building blocks of establishing authority. You need to consistently present content in the same way and in the same order. People find repetition reassuring.
It also helps “stamp” a process in their brains which builds a habit of returning to that process again and again.
As a recap to take your course creation from dream to done, you might need..
The advantage of templates and content from sources like FemaleCEO Club is you are being able to create a true “rinse-and-repeat” process for your courses, course modules, and sales page that all professionally consistent and flawless.
All you have to do is stamp them with your unique branding elements and customize the content with your own takes on topics.
In conclusion, using templates and DFY content, templates and services saves you hours of work, and makes your branding and online course look cohesive, ultra-professional and top quality.
This helps you avoid failure to show up consistently and mistakes that would weaken your business.
These are the exact tried and tested content creation secrets by yours truly to help your course business from dream to done! Good luck in starting your online business;)
When I started my business, I bypass this important step to do market research, hence I was stuck for quite a long time.
When I said long, it was about 2 years of going back and forth back to square one. I was unclear about my course topic, customer problem, and the demand.
My point is if you are trying to create an online course, don’t miss this step. ‼️
By following the tips in this blogpost ??3 Tips To Choose Your Perfect Course Idea, you will have already done the most important part of researching your market which is identifying your ideal client.
One point to keep in mind here, your ideal customer should also be your ideal potential clients.
Ultimately, looking at the bigger picture you want the ideal customer who takes action and “graduates” your course to go on to become your one-on-one client or a member of your Elite VIP Group or Mastermind.
Market research strategy #1 : Attend similar webinar
Here’s a great way to research your market:
➡️ Attend webinars given by top related-field coaches.
Focus on the comments streaming in the chat box on the webinar. That’s where you’ll often find real pain points.
For example, if you are a life coach specializing in confidence building, listening to a “How to Become Wealthy” webinar can actually be very valuable since a common complaint of those lacking in confidence is they don’t make enough money so you can pretty much count on them being interested in attending webinars on financial well-being.
The comments streaming in the chatbox of a “big” webinar (where the attendees number in the thousands) very quickly begin to take on a common theme.
You will hear things that may surprise you repeated over and over again.
* “I’m overweight”
* “My husband is not supportive of my business”
* “I feel like a fraud”
* “I’m broke/I’m in financial trouble”
Comments like these that are repeated multiple times in a variety of ways but essentially mean the same thing. It will tip you off to:
Ideas to put on the back burner for future launches, campaigns or courses
Take out groups of people you don’t want to deal with
Get brilliant “sparks” of ideas for your perfect course!
People say unguarded things in the heat of the moment. They let slip what’s really bothering them in the comments. It’s almost like a confessional.
And what you’re hearing are their real issues.
So, just from our four little examples of common complaints in our wealth webinar, you as a life coach might want to ignore comments not relevant to your area of expertise, and focus on the personal expressions of doubt repeated over and over.
Based on reading those repeated comments, you first want to create a course that repels those in financial trouble, since that’s not your focus.
If your brand focus is on reaching already-achieving, competent businesswomen with hidden, self-sabotaging insecurities, the repeated complaint of feeling like a fraud might inspire you to create a course called: “Freeing Your Successful Self from Your Inner Imposter (and Claiming Your Place at the Top)”.
Market research strategy #2 : forums
Forum like Quora is great for you to your market research.
Complaints and wishes expressed in social media groups, blog comments, and forums are also helpful in identifying pain points and problems related to your course niche.
You can compile all the input that you get from reading forums and the comments but remember to always run them through the filter of “is this right for your brand or market?”
P/s A great place to compile and organize all your input and ideas that you get is by using Trello! Don’t mess up your brain. Your brain is only to capture ideas not storing them 😉
Market research strategy #3 : Udemy
One more very good and effective way to see if people will really pay for the type of course ideas you have in mind is to check it in big teaching websites like Udemy or Lynda.com , where there are over 4,000 courses (over 900 for business).
Your Tasks Today is
1. Open Udemy.com or Lynda.com
2. Search for popular topics in your field or niche…
3. Then note what is missing in the course
4. Check what is the common question that being asked for.
Do you want to create an online course and make money while you sleep?
‘Yes of course you do!’ I think everyone does. And selling an online course is one of the easy routes to start your online empire especially when you do it right..
So you may be just like me, a multi-passionate business owner and you might have tons of course ideas on your bucket list. To avoid overwhelm and have major success, we however need to niche down. So in this post, we will talk about How to Niche Down and Decide on Your Perfectly AIigned Course Idea.
This is the Part 1 of How to Create A Fun Online Course Like A Boss. You can read this post for a general roadmap on how to create an Online Course Like a Boss make 6 Figure.
I am all about simplicity. If you want to learn how I presell my course before creating any content for the course and have a massively successful launch, I have a free 5 Day Email Course to teach you that. Click here..
By the way, congratulations on deciding to create an online course. Now it’s time to take the necessary steps to take your course idea from being an ordinary course to an exceptional one that is perfect for your audiences.
Niche Down Tips 001 – Understanding your ‘why’
You may have an idea about your course topic, but don’t rush into creating it just yet.
It’s very important that you are clear on what is your profitable course idea and why it is the best course topic for you, your branding, and your audience.
Getting clear on your “why” will ensure that you create the exact course that your ideal customer wants, solve their problems, and the one that stands out from the crowd and most importantly the one that makes you feel good for the long term.
There are three boxes your course idea has to “tick”, in order for it to be a top course creator in your niche.
It has to…
Focus on something you are passionate about teaching—something so easy for you, (p/s you might often take it for granted)
Solve the current most urgent problem or need for your ideal customers
Be in complete alignment with you and your business brand
Brainstorm as many ideas as you can but before you spend any more time on a particular idea, run it against the checklist of these three boxes, and make sure it hits all three✅.
Let’s go through these three criteria one by one, to see why they are so crucial to create the best selling and an exceptional course…
Checklist 1 : Identify Something You Are Passionate About
Knowing the “why” of your business is impossible unless you are fully confident and sure of the “who” in “who you are”.
This involves recognizing your strengths, skills and talents, accepting your weaknesses, and realizing that you are a unique person. Always remember that there is no one else like you with what you teach and your experiences.
So to identify something you really are passionate about, list down ..
your skills and talents
what you can spend hours on without realizing the time pass by
what you actually love that brings joy and creative outflow inside of you..
When you understand why you love and hate the things you do, why you struggle with certain things, where your values lie, what you love about yourself and what you hate, it suddenly becomes much easier to step onto your zone of genius and create something that sets you on fire and brings you joy.
Teaching a course that sets you on fire and brings you joy is an almost certain guarantee that you’ll do the same thing for your audience and students.
Plus when you do something that you love, there is a higher chance that you going to do this online course business for a long term.
Thus this is a powerful place to start figuring out before you start creating an online course.
Checklist 2 : Solve The Most Urgent Current Need For Your Ideal Customer
The best-selling online course is the course that solves a painful problem and urgent needs.
So how you can identify your ideal customer’s current most urgent need?
(P/s you can ask directly to your audience -what is their problem and what is their urgent need but sometimes they don’t even realize that they have the problem and what they actually need to solve it.)
So, As a leader in the online course world, you might have to answer these few questions yourself.
What the current course world is NOT supplying your ideal customer/student with, right now
“Missing pieces”- What other competitors may be deliberately not included in their course
What you can add that will make your course better aligned to your audience than every other expert’s course on the similar topic
What your audience is actually looking for vs. what is available online
For example, are there only advanced courses on a topic, when what she needs is a beginner-level introductory course?
Are current courses on the topic far toogeneralized and intensive, when what she needs is simply a course to teach her how to do one specific task?
And why are you the best person to help her out of this dilemma?
Above all, what will she gladly and happily pay for, and how much will she be willing to pay?
Checklist 3 : Be in Alignment with Your Business Brand
Finally, the last crucial test to apply to your course idea is :
Ask yourself, “Is this course in alignment with my business brand?”
It’s important to look at your Big Picture when you are planning courses, rather than only being reactive to clients’ needs.
Let’s say you are teaching a “Transform Your Sales Funnel” course, and you are getting repeated complaints from your subscribers that they are getting bogged down by not understanding how email software works, how to segment lists or even set them up in their autoresponders, that’s a genuine problem that could potentially distract them and make them drop your course.
The problem is real—they’re talking about it. So what do you do?
You have more than one option in offering a solution.
The real question is: Which one should you choose?
For example, you could:
Include a VA package as an upsell they can add, promising a one-time, 5-hour block of time from a VA partner to do the whole thing for them
Provide links and resources sending them to tutorials or services they can check out
Make it a component of your course and teach them how to do it
Run a separate course on Autoresponder Management
There’s no one “right” answer to this—much depends on your particular audience and your own skills and interests plus on your brand, but if it’s a problem that might result in distracting people away from what you’re trying to teach, you do want to address it in some fashion.
But do you really want to run a separate “Easy Autoresponder for Beginners” course if you are building your brand around “Sales Funnels” to a high-end clientele with the money to outsource?
The answer is most likely “No!” That’s not in alignment with your locus. A better solution would be to recommend outsourcing services and provide links.
If you are a life coach, however, and your business is all about building self-esteem and removing blocks, ‘Autoresponder Management’ courses would actually weaken and dilute your brand. They’re irrelevant to your specific locus.
Look at the Big Picture and answer these questions to ensure your course idea is in alignment with your business brand..
What do you want to be known for?
What level of client do you want to work with?
What income do you want to make?
What income bracket do you need to target in order for that goal to happen?
All this needs to be taken into account when you decide on the right idea for your course.
If you become reactive and start trying to solve every need, you will be guilty of “piece-mealing” your business—jumping around, trying to be a jill-of-all-trades.
Specialize and make sure your courses enhance your specialty.
If you’re a solopreneur who wants to start an online course business, you will also love..
Coaching templates are pre-designed worksheets or guides that coaches can use with their clients to help them achieve specific goals. They are often based on proven coaching methodologies and techniques, and can be customized to fit the needs and goals of the individual client. Coaching templates can be helpful for coaches because they provide a structured framework for working with clients, and can save time by eliminating the need to create a worksheet from scratch. They can also be helpful for clients because they provide a clear roadmap for achieving their goals, and can help them stay focused and on track.
Common type of coaching templates
Some common types of coaching templates include:
Goal-setting templates: These templates help clients define and clarify their goals, and create action plans for achieving them.
Life balance templates: These templates help clients assess and improve their work-life balance, and identify strategies for managing their time and energy more effectively.
Performance improvement templates: These templates help clients identify areas for improvement and develop action plans for boosting their performance in their personal or professional lives.
Career development templates: These templates help clients assess their current career situation, identify their strengths and areas for growth, and develop plans for advancing their careers.
Leadership development templates: These templates help leaders identify their leadership style, assess their strengths and areas for growth, and develop action plans for becoming more effective leaders.
Canva is a graphic design platform that allows users to create a wide range of visual content, including coaching templates. Some potential benefits of using Canva coaching templates include:
Professional design: Canva templates are designed by professional graphic designers, so they look polished and professional. This can help coaches create materials that are visually appealing and engaging for their clients.
Easy customization: Canva templates are easy to customize, so coaches can adapt them to fit the specific needs and goals of their clients. This can save time and effort compared to creating templates from scratch.
Wide range of templates: Canva offers a wide range of coaching templates for different types of coaching, such as career development, leadership development, and goal setting. This can help coaches find templates that are well-suited to their clients’ needs.
Accessibility: Canva templates can be accessed from any device with an internet connection, which makes them convenient to use.
Collaboration: Canva allows coaches to collaborate with their clients on templates in real-time, which can be helpful for creating materials that are tailored to the client’s needs and goals.
List of Canva Templates for Coaches and Online Course Creators
Coaching Program Packages Guide
20 PAGES STRATEGIC DONE FOR YOU TEMPLATE FOR BUSINESS COACHES, CONSULTANT, ONLINE FEMALE ENTREPRENEUR TO KICK OFF THEIR BUSINESS
These 20, designed-for-you Canva Slide Deck templates are perfect for CONTENT REATORS. You’ll have a stunning and professionally designed template in a matter of a couple hours, NOT DAYS!
Every single person has self-doubt and insecurities at some point in their lives but that doesn’t mean you have to sink under the weight of those insecurities. Instead of suffering in silence, take an action step to dig yourself out of that hole.
Engage with others on social media , be it facebook group or Instagram. Write a blog post. Post inspirational quotes.
Each of these tasks will help your business move forward while focusing your attention on your expertise instead of swallowing in self-loathing.
Hold yourself back from comparing yourself to others.
“Comparison is the thief of joy,” and you don’t know how many hurdles that other expert had to jump to reach their success.
How toIgnore the Negative Self-Talk and Embrace Your Expertise
First thing first, THINK of what you have done in the past..
What do you think about when you hear the word “expert”? Do you picture a professor with certification or degree or do you picture yourself?
What makes you hesitate about putting your picture under the Expert heading?
Just think about your own experiences and your education, and you have clients, think about your training and your clients’ result .
If you are a blogger , think about your blog posts, your research, and your continuing education.
Do you think the average person signs up for specialized training? Regular people may do lots of reading about certain subjects they find interesting but they don’t necessarily call themselves a coach or an expert.
They don’t have the same passion you have for helping others or for learning every last detail of your specialty.
An interest, yes, but not necessarily a passion.
Let me break it to you: If you have paying clients, you’re an expert.
If not , its time to find one.
Embrace Your Expertise
According to Dictionary.com, the definition of “expert” is “a person who has a comprehensive and authoritative knowledge of or skill in a particular area.”
Notice how there’s no mention of degrees. There is nothing that says you have to have a Master’s or Ph.D. or any other letters after your name to be an expert (excluding the medical profession, of course).
In other lines of work, you’ll find that years of work experience often trumps formal education simply because not every life experience can be taught from a textbook.
The same can be said about the coaching business. You will find coaches who have gone through the certification process while you find other coaches who are successful business owners with no certification but who have learned lessons through their experience.
Of course, your credibility will grow if you become a certified coach and if your audience sees that you’re constantly learning and taking classes but when you’re just starting out, don’t be afraid to embrace your expertise and working experience because you definitely know more than your tribe.
You have done the research.
You have offered your expert advice to help others online.
You have a deep-rooted passion for your specialty and for helping your followers.
YOU are an expert.
Create an Online Class to Solidify Your Expert Status
Your followers want more from you, especially if they can’t afford your one-on-one coaching prices yet, so creating an online class is just one way to offer your expertise to the masses.
Stop Analysis Paralysis and Take Action
How many times have you thought of ideas for building your business only to get caught in the “analysis paralysis” that seems to plague solopreneurs?
You know the vicious cycle: You get a great idea, you get excited for it, but then weeks later you still haven’t started it and you’re losing steam.
Or, worse yet, you see a competitor who just launched a similar product and you talk yourself out of following through on your idea.
First of all, if there are competitive products based on similar topics, that’s a good thing. That means there’s a market willing to pay money for your information. You are also a unique individual who has unique talents and a unique way of speaking to her tribe, so why not put your own spin on a similar product?
Smart business owners will do some research, however, before starting the production process, primarily to cover their bases and include all the information their audience is craving.
Review your audience’s pain points and struggles. How can you address those in your product? Can you present your product differently than the competitors’ products?
What’s missing from their products that you can provide in your product? If you’re not sure how to answer these questions, simply ask your audience via email, survey, or social media. People love voicing their opinions so ask them!
Enlist Your VA for Maximum Productivity
Acting on your intuition when a product presents itself is vital to keeping up your momentum and avoiding analysis paralysis. Assign a simple task to your VA, such as creating a production timeline (and save it as a template for future products) or conducting the market research.
Ask your VA to stir up some buzz on social media (without giving away too much, of course) and let your followers chime in about what they want to see from you.
In the meantime, you start creating a product outline and brainstorm where you’ll get the content (ghostwriter, expert interviews, past content that you wrote, etc.)
Taking at least one action step each day will prevent you from stopping dead in your tracks and thinking there is no way you can compete with others. That’s negative self-talk that you need to battle and overcome.
Reciting some positive affirmations or meditating can help dispel that negative self-talk.
Need Some Validation? Ask in Your Mastermind Groups
Sometimes we need that extra kick of positive energy to get started or keep going, so if you need that boost, approach a couple of members in a mastermind group or other business friends you trust to get their opinions. Before you ask, however, be prepared to accept some constructive criticism.
Not everyone will love your idea but that doesn’t mean it’s not worth pursuing. Maybe they will suggest some added topics or suggest a different format.
Weigh their opinions and feedback but don’t let those opinions alone curtail your production activity. You understand best of all what your audience needs and which course format they will prefer.
Give Up the Excuses;You Really CAN Teach an Online Course
Have you looked at your competitors recently to see what they’re doing in their business?
Don’t compare yourself to them because that will wear on your self-esteem but simply look at their websites and take note of what packages and products they offer.
Do they offer anything different from you? Do they have a variety of packages and products at differing price points?
Do they have a signature product?
It’s important to take note of these things because you want to stay competitive in your pricing and in your offerings.
Never copy someone’s idea exactly but you can certainly take a similar theme and create your own product with your own spin or unique twist.
I’ve mentioned before the importance of creating multiple streams of income so now it’s time to examine if you have enough streams to build a profit.
Do you have any extra streams of income? How much are you making from each stream? If the answer is zero to either question, it’s time to get working to make the most of your time.
Time is Money, So Focus!
What do your followers want from you?
Do they want an online course or do they want a group coaching program?
Which one do YOU feel most comfortable producing? You will never please everybody so do your market research, go with your gut about which one you want to do, and then take action steps to get it done.
If you can write a how-to article or record a step-by-step video, then you can teach an online class. You certainly need to prepare and it may be stepping out of your comfort zone but it IS possible to find yourself teaching a class (or multiple classes) about a topic that lights up your passion.
If you have built your business around this passion, then this online course could easily become your signature course.
Have you heard of Dave Ramsey? He’s built himself a nice empire based on his financial expertise, specifically how to get out of debt and how to manage money. Take a look at his class offerings.
You’ll notice that each class he offers goes into different levels of detail. Notice, too, how he has classes for the same topic but geared towards different markets: parents and kids. He also has business offerings.
Keep in mind that these were not created overnight and Dave Ramsey has quite the team of producers working for him; but it IS possible for you to grow your business in a similar fashion, provided you focus your time and you’re passionate about your topic.
If your self-doubt takes over, try meditating, journaling, or simply getting outside in the fresh air to clear your mind and refocus on your WHY.
Why do you want to create an online course? Who do you want to help?
Are you the best suited expert to help your audience?
Turn that negative self-talk into positive talk to keep your momentum moving forward.
If you’re coaching clients on a 1:1 basis, then you’re charging for your time, which is an example of “active income”.
With active income your earnings are directly tied to the amount of time you spend with each client.
If you have 8 clients a day, you’ll get paid 8 times; if you go on vacation and have zero clients a day, you’ll have no money coming in.
While this 1:1 premise can be profitable with high-end clients, you’ll still reach that glass ceiling because you only have so much time in a day to devote to clients.
So, if you want to break that glass ceiling and earn more while still coaching 1:1, it’s time to develop some passive income streams.
Here are My Top 3 Passive Income Ideas
Passive income is a way to leverage your 1:1 coaching by reaching more people at one time.
What’s the best way to do that? The choice is up to you; start off by choosing one passive income idea and when that is complete and you see sales, try creating a different stream of income.
Ideally, your passive income and active income are like gears in a clock, all working in perfect harmony to increase your profits and expand your name recognition.
1. Write a book.
Publishing a book gives you instant credibility with the world at large. Make it onto the Amazon Best Sellers list and you’ll go to the front of the line in superstardom.
Writing a book will open up doors to media interviews and speaking gigs, which in turn expose you to brand new, bigger audiences. Plus you’ll make those fans who can’t afford your 1:1 coaching extremely happy because they can still learn something from you in printed form.
2.Sell your recordings.
Whether you record webinars, podcast interviews, or organize a summit of business leaders, selling the recordings after the event is another way to earn passive income.
As always, there’s work to be done getting these webinars, interviews, and summits organized and running without a hitch, but offering a paid product for those who couldn’t attend live earns you some extra cash but also endears you to those fans who will still benefit from your brilliance.
3. Create a course…or a series.
Creating courses is a way to delve deeper into your expertise than a published book will allow. Consider this a passive way to coach clients in the comfort of their own homes but on a grander scale. Just think…your fans can follow along in DIY fashion, with your words guiding them to their next steps, without you having to schedule each person into your already-busy calendar.
Plus your fans can work at their own pace instead of worrying about deadlines or having to attend webinars live. Give them what they want but allow them to work at their own pace.
Delegate some of the prep work to ghostwriters or a virtual assistant to make your part of the upfront work even more passive.
You’ll pay those contractors to organize and produce the finished product but consider that an investment in your business. Remember…you’ll have these finished products for years to come after this initial investment.
How Can Your Business Benefit From Passive Income
Have you heard the statistic that millionaires have at least seven income streams? That’s seven different ways that they’re making money each month.
Now take a look at your business; how many streams of income do you currently have? If it’s only one, then it’s time to open up that creative part of your brain and create more income streams.
Passive income is something of a misnomer. Work is still involved in creating products or setting up different forms of income but the difference is these streams of income can work for you almost on autopilot for years to come, long after the initial work is complete.
So think of the creative process as work-heavy in the beginning while you can still earn money from them well into the future.
Benefits of Passive Income
Increase your bottom line profits.
This is the most obvious benefit but certainly worth mentioning because who doesn’t want to earn more profits? If you created a for-profit business, extra ways to earn income are always welcomed. As you well know, limiting your practice to 1:1 coaching can limit your income potential, making passive income streams even more important when your coaching calendar is filled to capacity.
2.Regain time in your day.
Hold up…I know I just said that creating products and other streams of income takes time but jump ahead and think about the back end of the process, when your product or income stream is completely set up and the upfront work is done. With a consistent, strong marketing plan, you can easily earn money on these passive income streams without much effort, even while you sleep, which means you can take off a little earlier or take an entire day off for fun because your passive income is still earning money.
3. Increase your credibility by helping more people.
Think of passive income as a way to share your expertise with an ever-expanding audience. A snowball at the top of a mountain is very small, which represents you with your inner circle of coaching clients. But as the snowball travels down the hill, it gathers more and more snow until it reaches mammoth size. The same is true of you as you reach out to more and more people, networking online and off, and providing guidance through your books, webinars, or courses. You’re leveraging your knowledge and showcasing your expertise to infinitely more people, which will lead to increased sales and an army of people who rave about your work. In this case, the snowball effect is a very good thing!
Planning Your Passive Income
Now that I’ve sold you on the benefits of having passive income streams, it’s time to plan out what those streams should be for your business. Traditionally, passive income often means affiliate marketing, writing a book, or creating courses based on your coaching specialty.
Of course, use your creativity to think of an idea that’s different from what other coaches produce that will also appeal to your ideal target market.
4 Myths about Passive Income
Creating multiple streams of passive income is a wise business decision but don’t be fooled by some of the myths around this topic. Do your research objectively and learn how to read between the lines of promises people make. This sage advice is often correct: If it sounds too good to be true, it probably isn’t true.
Myth #1: Creating passive income is quick and easy.
Anyone who has worked to create a product, write a book, create a niche website, or even promote affiliate links will tell you this myth is false. You’ll always have to do work at the beginning and the amount of work and how long it takes you will vary considerably depending on your income stream. Anyone promising you overnight riches is out of touch or trying to sell you a scam.
Myth #2: You can set it and forget it after your passive income stream is set up.
This is only true if you hire a project manager to manage the daily marketing and promotion plans for your chosen income stream. But even if you outsource the daily management, at some point you still need to evaluate if updates are needed or if it’s worth the ROI.
Myth #3: If you create it, it will sell.
This is a take on the famous line from Field of Dreams, “If you build it, they will come.” It worked well in the movie but in real life, you can’t just put up a sales page or publish a book on Amazon and wait for the sales to roll in. Organic search traffic is always nice but you’ll reap far greater profits if you actively market your products on social media, to your email lists, at live events, and with creative advertising campaigns. In the internet world with millions of products and websites, you have to work hard to make your products known. If you don’t toot your own horn, nobody will know what you have to offer.
Myth #4: You need large amounts of capital to create passive income.
Again, this depends on the type of income stream you choose to create but unless you want to start flipping houses, online income streams do not require huge amounts of capital. Take a look at Pat Flynn of Smart Passive Income. One of his business models which contributed to his earning over $5 million was to create niche websites. Today you can start a website with a very inexpensive domain purchase and an equally inexpensive web hosting package. Even if you want to self-publish a book on Amazon, you’ll invest more time in getting the manuscript ready than you will to actually publish.
One bonus tip: Try to focus on one income stream at a time until it becomes profitable. Once it makes you a consistent income and you have a process in place for managing it, start to research your next income stream.
Also remember that not every idea will be a grand slam. If an income stream isn’t performing as you had hoped, go back to the drawing board or retire that idea and move on to the next.
Yes, You CAN Teach the World What You Know!
3 Tips for Creating a Positive Mindset
What’s holding you back from creating a course or two that can greatly benefit your ideal client: Fear of failure? Fear of success? Fear of looking like an imposter? Feeling like you’re not expert enough?
Believe it or not, most entrepreneurs struggle with mindset roadblocks at some point. Even more experienced business owners can struggle with a roadblock or insecurities. I’ve met plenty of entrepreneurs who label themselves as introverted and I shake my head in shock because that’s not the image they portray online; that’s the ultimate “fake it til you make it” thinking.
Lifting mental roadblocks can be done with some daily habits and positive self-talk. Here are three tips you can implement right now in your daily life to create a positive mindset:
1. Start your day with positive affirmations. A quick Google search will give you thousands of affirmations to choose from but you just need to start with a couple of affirmations that resonate with you. Post them anywhere in your home that you’ll see them often. Say one or more as you shower or find 5 minutes of quiet time in the morning to say affirmations or to enjoy a short, guided meditation. If you get stressed during the day, walk away from your desk and start repeating your affirmations. The more you repeat your affirmations, the more your brain will believe them to be true.
2.Surround yourself with positive, authentic people. You don’t need a bunch of fake friends telling you how great you are; instead, find business peers, coaches, or other friends who genuinely try to lift people up and make the world a better place. Their positivity will rub off on you and sometimes all you need is a quick 5-minute phone call to one of these positive people to lift your funk.
3. Connect with your tribe; they are the ones who WANT to hear from you. We are all experts at something, even if we are self-taught don’t have an official degree. A lot can be learned from our life experiences and that translates into expertise. Even if you feel like you can learn more about your chosen specialty, you still know a lot more than your tribe, and they follow YOU because of your style and authenticity. Are there other experts in the online world in your chosen field? For sure, but don’t let their celebrity, status, or number of social media followers intimidate you. Share your message far and wide and your tribe will find you.
While you’re testing out these tips, start a brainstorm list of course ideas. You don’t need to know the formats or the specifics of how to create a course just yet; simply jot down ideas that would help your ideal audience. Somewhere in there is a course just begging to be created, some topic that your audience desperately needs to understand. Keep that list growing until you feel inspired to create your course.
Your Next Step – Create that Course!
When inspiration strikes, don’t let that course idea simple fester in your mind. It’s time to create that course and tell your audience about it.
How to Build a Passive Income Empire by Hiring a Dream Team
Building your business to have a diverse set of income streams is a wise move. Plus, if you hire a team of contractors to handle the production, your passive income truly becomes much more passive once you get your team started.
Think of it this way: If you invest in the stock market, every financial advisor suggests splitting up your investments into a diverse array of stocks and bonds, simply for the fact that not every company will perform well all the time. When one company has a bad quarter, a diverse portfolio allows you to minimize your losses, especially if the other companies in your portfolio are doing well.
Independent contractors are also advised to work for an array of clients instead of devoting all their time to just one client, simply because you never know when that one client will close up shop or decide to hire a different contractor. The same is true for your own business. What if you lost multiple clients in one month? Do you have a calm way to make up that income or would you be scrambling in a panic? Creating passive income over time lessens the panic.
How a Dream Team Benefits Your Business
Working with independent contractors allows you to focus on your daily money-making tasks while your products, classes, books, summits or webinars are being produced in the background. While these products will certainly be money-makers, delegating the creation to a team makes them even more passive so you can focus on your coaching clients and marketing.
In general, your dream team will consist of a graphic designer, a ghostwriter, and a virtual assistant, although your team will look different from other coaches based upon what type of products you’re creating. If you need to grow your team, hire a project manager to oversee deadlines and to answer questions from your contractors. Again, this allows you to focus on your daily tasks.
To make the most of your team investment, decide if you need all these players on a monthly, quarterly, or annual basis. This frequency will depend highly on the types of products on your brainstorm list and how quickly you want to produce them. Just keep in mind that contractors take work all throughout the year so there’s no guarantee that your favorite ghostwriter will be available in 11 months to work on your next project.
One of the most frequent questions or complaints about hiring a team is that it costs more money. Very true, but consider this an upfront investment in your business. You’re paying your team one sum per project but you can then sell that same product for years to come, with no changes. If you price your product carefully and do the research to know this is what your audience wants, you will likely make your initial investment back very quickly; then the rest of your earnings are pure profit.
One last tip: Advise your dream team to document their processes during the creation period or assign this task to your project manager. This way there’s less of a learning curve if you have to hire a new team member in the future because they can refer back to these process notes.