You’re probably familiar with Napoleon Hill’s Think and Grow Rich. But today’s guest, Danny Iny, is going to teach you how you can Teach and Grow Rich through building your own online courses.
Danny is the founder of Mirasee, a company that helps clients with audience building, offer creation, and building and selling courses. He is an entrepreneur and the author of several books including Teach and Grow Rich. Today, Danny shares with us some great thoughts about how you can utilize online courses to grow your business.
Here are the highlights of my conversation with Danny:
Why online courses are a hot topic:
- Crossing the boundary from niche to mainstream
- Entrepreneurs can create a real educational experience and a huge impact
Biggest mistake in course creation: Confusing information and education
Most online courses don’t do a good job in delivering the outcomes they promise. In order to do a good job, you need to back up and be able to distinguish between information and education.
- Information is exemplified by books which can be bought and the responsibility to learn is on you. Find to create an information product and sell it at a price that information justifies (cheap or free).
- Education leads to transformation. There is a partnership between the student and the teacher so it commands a premium price. Find to create an education product that creates a real transformation and charge a premium for it.
Why build courses:
- It can be a revenue stream.
- It can be a diversification for an existing revenue stream
Things to consider when getting started with your online course:
- Make sure to test.
Just because you think people should want it doesn’t mean people actually will. Make sure what you think people want is aligned with what they really want. Reach out to a group of people and ask if this certain topic interests them.
- Get a bunch of yes’s to get their commitment.
Get a bunch of people to put money on the table so you know they’re committed. Offer them a great deal since they’re going to give you feedback on what’s working and what’s not.
- Limit the scope of what you’re going to teach and deliver.
Sometimes we have the tendency of stacking more and more into our course but it’s not great for students. You can’t include things that are not critical as these can distract them or confuse them. Don’t think about all the things you can include but what is the least that you can give people that will still lead to a transformation that they want.
- Start mapping out what to teach.
The best way is to start with the end goal. What do they need before that and before that until you get to where you are. All the other stuff would come later.
- Once you find a routine that works, then you can make it permanent.
Only do stuff such as videos after you know that you nailed it.
- Design your curriculum with your average students in mind.
These are the students who want to be successful with the right support and infrastructure. They are your guiding north star. The length of the course depends on your content.
Strategies for pre-selling your course:
- The number one driver for sales is proof.
- The more proof you get, the easier everything else gets.
- The trick is having a process in the infrastructure that makes leads want to turn into customers.
Danny’s Major Takeaway:
Come from a place of service. Find the legitimate way in which what you have is best for them. Teaching is putting aside what you think is important and focusing on what they think is important to serve them as well as you can.
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