Everywhere you look online now, you see an online course or membership that offers anyone who has a little time and money the chance to gain new skills. With no commute to a physical classroom, these educational opportunities allow anyone no matter how busy they are or where they’re located to learn.
5 Reasons Why You Should Create an Online Course or Membership for Passive Profit
People Need Help and You Can Provide It
People get on the internet to find information they need. If you can address a need in your target market and teach them how to fulfill or solve it, you can help people. People ultimately pay money to get rid of or solve a problem. So if you aren’t solving a problem then you might need to re-evaluate your business model. This benefits your audience, but it also benefits you by building relationships. After people take your course or join your membership, they’ll continue to follow you and they may take future courses.
You Can Become an Expert
Creating online courses and memberships help you to become an established expert in your field. Right now, you may not feel like much of an expert. What on earth can you possibly teach people? But if you think about it, there is a great deal of knowledge you’ve gained through running your business. This is knowledge you can easily teach others (and you can research to fill in any gaps). The way I like to look at it is, if you are at least one step ahead of someone you can teach them something. You’ll become the go-to for information for your audience, and their go-to when they need your products or services.
Catch up (or Surpass) the Competition
There is a decent chance none of your direct competitors are running online courses or memberships for their customers. If they aren’t, this puts you in a unique position. A very good position! Among the competition, you’re more than just another business, but also a valuable learning resource. This gives you a tremendous competitive advantage because most customers will come into your world and interact and learn from you before they actually buy from you.
If your competitors are already offering online courses and memberships, it’s even more essential that you start doing so as well. Find a unique angle or a unique approach to what you’re teaching to set your course or memberships apart. There can always be someone else teaching the same thing you do, but do they teach it like you? Do they have your special sauce? That’s what will set you apart and make you unique.
Profits Now and in the Future
You can sell your online courses and memberships and truly profit from them. And when I say profit, I mean passive recurring income that you make in your sleep. Imagine waking up to consistent payment confirmations, or the cha-chinging of notifications that you had another sale! NICE RIGHT?
There are free courses available online, as well as a great deal of free information, but if you can provide real value, offer something unique, and market your courses and memberships well, you can charge a good price for them and you’ll see enrollment.
Even better, you can use your online course or membership as a way to build future profits as these digital products build a relationship with your audience. Even if you offer a free course, you’ll establish yourself as an expert and trusted source of information.
There are many ways to profit from online courses and memberships, including running a short free course that leads to a longer premium course. Or even having a premium course that then leads to a backend membership that members of the course can join to continue implementing what you have taught them in the course. You can also build a passive income by creating courses that students can take at any time and that runs mostly through automation. These would be evergreen courses. They don’t require launching, but always have open enrollment.
It’s much easier than you probably imagine to create and run an online course or membership. It just takes a bit of organizing and preparing. You can research to gather whatever information you need to fill in knowledge gaps. Your digital products will exist and be managed on a platform specially designed for courses and memberships. And once you run one, it gets much easier to do the next.
An online course or membership offers a great way to reach your audience and if you’re not doing it now, you’re missing out on a great opportunity. And literally leaving money on the table. I don’t know about you but I’m not in the business of leaving money on the table!
Looking for more information about adding passive income (like an online course or membership) to your wedding business? Download my free Ebook on 20 Profitable Offerings for Wedding Professionals and discover if digital products are a good addition to your creative business.
Ready to start earning passive revenue and scaling your business? Get our Passive Income Ultimate Guide.
Plus, 5 more posts you might like:
- How To Leverage The Connections You Already Have Through An Affiliate Program
- How to Pitch Yourself for Speaking Opportunities
- Dreaming of making passive income in your business? Do THIS first!
- 3 Steps to Create and Diversify Passive Income
- How to Sell via an Email Funnel to Earn Passive Income