Online Courses. The ideal ‘passive’ income model for consistent income and a freedom based lifestyle.
I have news for you…. it’s not that simple!
Last year I spoke to many health business owners who felt ‘ready’ to create an online course. Half of them I supported in developing their course, and the other half I gave the following advice….
Online courses need to be marketed, supported and updated time and time again, therefore, they are not passive income streams. Also, having relevant experience and a solid reputation is vital for the success of an online course.
So, before you commit to creating an online course for your health business, consider the following to decide if you and your business are ready…
- Do you have sufficient experience working with clients one on one and feel confident in your field/area of expertise?
For example, have you been health coaching for over a year, seen successful results in over 20 clients and feel confident in addressing a specific weight loss issue?
- Have you identified your niche in both your target audience and a specific problem/issue that you help solve?
- Do you have available funds to support the creation and marketing of the course?
Unless you’re confident in setting up a website, membership portal and all the marketing material to go with it, you will need additional support like a project manager or virtual assistant. Therefore, it’s not worth investing in a course unless you have available income to do so.
- Do you have a significant number of email subscribers?
The average email open rate for the health & fitness industry is approx 23% and the click-through rate is 3% (see source). Therefore, if you only have 100 subscribers, approx 23 people will open your email and 3 of them are likely to click-thorough to ‘find out more’ or ‘buy now’. This is a small return on investment, so it’s recommended to have a significant number of followers before you launch an online course.
Not ready for an online course yet? Here’s some suggestions for what you can do instead and how to prepare…
- Focus on developing your knowledge and experience
(especially if you’ve just graduated from your health or nutrition course).
There is no need to rush into online products when you’re first starting out.
- Focus on creating valuable content
Such as blog posts, free opt-ins and resources that you can share now to build subscribers and followers. This content can be used for online course material in future.
- Identify the content which is most engaging
Identifying the topics and resources your customers enjoy/need the most will give you ideas for potential courses in the future.
For example, my Processes & Procedures Guide is an extremely popular download, which means I could potentially expand on this topic in future and offer more advice via an online course.
- Create a simple 7 day email automation as a free optin
As long as you have great content that will help a customer reach a certain goal or solve a particular problem, you can breakdown your advice into daily emails, with info, action steps and an opportunity for them to see positive results. Offering this as a free optin can help build your email list and act as a pilot program, so you can test the waters before committing to an online course.
Here’s a couple of examples:
– 7 Day Detox with recipes, shopping lists and information about why and how to cleanse your body
– 7 Steps to increasing happiness and self-love, including daily positive affirmations and journalling
Has this blog post been helpful? Are you ready to create an online course? Comment below.