In the ever-expanding world of online education, the desire to create and sell courses is prevalent among experts in various fields. It’s an enticing proposition – the potential to share knowledge, reach a wide audience, and generate income through a 1-to-many model. However, many aspiring online course creators rush into launching courses without fully considering the high-ticket approach, a strategy that can offer numerous advantages. In this post, we’ll explore why selling your expertise through high-ticket 1-on-1 services first might be a smarter path to long-term success in the online course industry.
The Rush to Launch: A Common Pitfall
In my daily practice, I find that online course creators are often in a hurry to launch their courses. There’s a sense of urgency to generate income quickly, and many believe that launching a course is the way to do so. However, this rush to launch is often accompanied by several challenges:
1. Limited Resources: Online course creators frequently have limited budgets, and they may not be able to invest in essential aspects such as quality content creation, marketing, building their course website, and other things needed to launch and subsequently market. A limited budget limits the option to outsource. And when you can’t outsource, you have to do it yourself. This obviously costs time, but time is limited when you want to launch fast.
2. Overwhelm: Creating and managing a course is a significant undertaking, and underestimating the workload can lead to burnout and frustration. Read the blog post I wrote about beathing overwhelm here.
Although it is popular among providers of LMS software or other course service providers to say that you can launch your course within 5 or 10 days and start making thousands of dollars off the bat, this, in most cases, is not a reality. Stats show that 53% of online course creators take 3 months or more to create their course.
So again, launching a course is no quick and easy fix to generate income.
3. Tough Competition: The market for low-priced online courses is saturated, making it harder to stand out and generate significant revenue.
Of course, this depends on your topic, but if your topic is mainstream instead of niche, competition could be a challenge.
The High Ticket Approach: A Paradigm Shift
Now, let’s consider an alternative approach – selling your expertise through high-ticket 1-on-1 services before diving into course creation. Here are some compelling reasons why this strategy can be advantageous:
1. Capitalize on Your Expertise
When you sell high-ticket 1-on-1 services, you’re capitalizing on your expertise. People are willing to pay a premium for personalized and personal guidance from someone with deep knowledge in a specific area. This not only allows you to earn income but also helps you gain valuable experience working closely with clients.
2. Learn and Refine Your Process
By offering 1-on-1 services, you can fine-tune your process or framework. You can test different strategies, gather feedback, and improve based on real-world experience. This iterative approach ensures that when you do create a course, it’s refined and effective.
3. Build Trust and Reputation
High-ticket clients often become your best advocates. When you deliver exceptional results through personalized services, you build trust and a solid reputation in your niche. These satisfied clients can later refer others to your offerings.
4. Generate Income Early
Selling high-ticket services allows you to generate income early in your journey as an online course creator. This income can be reinvested into your business, enabling you to create high-quality courses with better production values, marketing campaigns, and support systems.
5. Easier Marketing
Selling a high-ticket service can be easier from a marketing perspective. A good offer is easier to sell to one person than to 1,000 people. Besides, the effort you put into a marketing campaign is the same for a higher-priced service or a low-ticket course.
The Fulfillment Perspective and Solutions
One concern that often arises when considering the high-ticket approach is the fulfillment aspect. With one-on-one clients, you have to deliver personalized services every time. In contrast, online courses can be created once and potentially reach a larger audience. The fulfillment process for courses – once created – is far easier, more flexible, and scalable:
1. Tiered Courses: You can create tiered courses with varying levels of interaction. Some may be self-paced, while others offer more instructor involvement. This allows you to cater to different student preferences and engagement levels.
2. Automation: Utilize automation tools and platforms to handle routine tasks like enrollment, progress tracking, and communication. This frees up time for more personalized interaction with students who require it.
3. Community Building: Foster a sense of community among your course students. Encourage peer-to-peer interactions, provide discussion forums, and host live Q&A sessions to enhance the learning experience without overwhelming yourself.
The High Ticket vs. Online Course: Pros and Cons
Let’s summarize the pros and cons of both approaches to help you make an informed decision:
High Ticket Services:
– Capitalize on your expertise.
– Learn and refine your process.
– Build trust and reputation.
– Generate income early.
– Easier marketing.
– Requires more time and effort per client.
– Limited scalability compared to online courses.
– Potential for income through a 1-to-many business model.
– Wider reach and scalability.
– Can serve a global audience.
– Lower fulfillment effort per student.
– Highly competitive.
– Initial investment in content creation and marketing.
– Takes time to create and launch.
– It may take time to establish credibility and trust, making it harder to market.
While online courses hold immense potential, the rush to create them can often lead to challenges that hinder your success. By initially embracing the high-ticket approach, you can capitalize on your expertise, build a solid reputation, and generate income while refining your offerings. When the time is right, transitioning into course creation will be a more strategic move, leveraging your experience and credibility to reach a wider audience. Remember, the journey of an online course creator is a marathon, not a sprint. Taking the time to build a strong foundation can ultimately lead to long-term success in this dynamic field and could be the smarter path forward for you.