As Foundr has grown over the years, digital courses and other products have become a mainstay of our business.
Each course is the result of the same process, now perfected:
- We found a topic our lovely audience wanted to know more about.
- We have created a bunch of content around this topic.
- We have offered 99% of this content for free.
- We have created 1% in the form of paid courses for people who want premium intensive training.
Not only did this strategy help us create the content our community wanted, but we were also able to cultivate an important and growing brand around entrepreneurship. With each successful course, we have been able to create many more digital products and resources, usually free of charge, bringing us closer to achieving our mission of helping 10 million entrepreneurs launch 10 million vibrant businesses.
To date, we have created courses for Ecommerce Entrepreneurs (Start & Scale), Instagram Marketing (Instagram Domination) and many more on other marketing topics (List Building Mastery, 7-Figure Copywriting, etc.).
It's true that we got it all figured out as we went through these early days, like when Nathan first designed a course based on his own success with Instagram marketing. But now we feel like the process is pretty much a science.
We even published a good number of articles on creating and selling online courses, all of which were devoured by our audience. But, as with so many other hot topics we've focused on, it's just not enough for everyone.
So naturally we thought, how about a course on course creation!
Sometimes it is easier to be successful when you have a step-by-step formula to follow that has been proven to work, by practitioners who have performed it successfully over and over. For people looking for that deep level of experience, we've done what we need to do and put together a course on exactly how we create, launch, and market online courses, the Foundr way.
Today we are opening the doors to this course for the first time.
Introducing Rapid Course Formula: How To Build A Digital Product Business Around Online Courses
Online education is booming.
In the United States alone, more than 6 million Americans continue their learning online. Considering the high costs of higher education, online courses have helped millions of people expand their knowledge and improve their skills at low cost.
In Australia, the industry generated approximately $ 5 billion in revenue and employs over 17,000 people.
With such demand, countless entrepreneurs have started creating online courses and delivering them as digital products. Unlike a consulting business or an e-commerce store, a business built around online education is very profitable and easily scalable.
Plus, the process of creating an online course has never been easier. You don't need a fancy production kit or an expensive camera; all you need is a webcam, your headset microphone, and a free video editor like Lightworks or iMovie, and you're good to go.
What matters is that the content you serve is useful to your audience. Do this, and your course will sell.
In Rapid Course Formula, we'll show you the exact steps we've taken to launch a dozen courses over the past four years.
Meet your instructor: Nathan Chan
You might know Nathan Chan from companies like this! He is the founder and CEO of Foundr himself.
Nathan has led the Foundr team and oversaw the successful creation and marketing of all the courses we have published since we created our first, Instagram Domination, in 2016. He has also taught some of our first courses, including this one. ci and Influencer Magnet.
But Nathan doesn't just create content for each of these courses. He's also at the heart of the trenches, leading and working with the Foundr team to create the best customer experiences. He knows how to attract and connect with our community, budding entrepreneurs who want to experience life changing results for their business.
If you've taken one of our courses and liked it, you can thank Nathan and the rest of the Foundr team for their dedication to quality, not to mention hundreds of hours of hard work.
READ MORE: How to develop an online course
Who is this course for?
Rapid Course Formula is perfect for any entrepreneur or aspiring founder who wants to start an online business selling digital products, especially online courses.
If you have a skill you want to teach and love to help others, Rapid Course Formula will show you the exact system you need to have in place to make money by sharing your passion.
This course is also ideal for anyone who has already created a course but failed to accommodate that six or seven figure growth. If you are wondering what you can do for a living off your audience and your skills, then Rapid Course Formula will help.
READ MORE: Are you ready for a digital product launch?
What do I get from Rapid Course Formula?
Rapid Course Formula comes with 7 mods filled with bite-sized videos, and each comes with action items you can use to take your knowledge and immediately apply it to get results.
With up to 50 videos, you'll learn the exact steps Nathan and our team took to create each of our 12 courses, from choosing the right topic for each course, to developing the curriculum to promotional campaigns.
In this course you will learn:
Module 1: Basics of Online Business - Finding Your Idea
In this introductory module, you will learn the basics of creating an online course. From determining what topic you're going to start an online business on to knowing all about “evergreen” content to defining your goals, this module will lay the groundwork for the rest of the course.
Module 2: Validate your lesson idea
In this module, you will learn that the key to creating a guaranteed online sales course is to first validate the idea. You will learn the 3-step validation process that we have developed over the years that has helped us launch our courses to a long list of hungry buyers.
Module 3: Building your audience
In this module, you will learn the power of creating an audience to which you can sell your digital products. You'll learn the details of building a mailing list, choosing a marketing channel to grow your business on, and more.
Module 4: Produce your course
This module will show you the key aspects of producing a course from start to finish. You will learn the specifics of course development that we use in each course that we create and launch.
Module 5: Technical configuration
In this module, you will learn the technical aspects of bringing the product digital and ready to consume online. You'll learn everything from hosting, defining the best editing tool to DIY publishing and more.
Module 6: Launch and Marketing
In this module, you will learn how to set up a launch schedule and prepare for each step of the process. You will also learn how to create a magnetic offer that your audience won't be able to resist.
Module 7: Bonus
In this final module, you'll learn how we create our industry-leading digital magazine and how we hire amazing freelancers who help us grow our business hassle-free.
Nathan has drawn all his knowledge and experience from launching over 12 courses over the past 4 years and brought them together in this course, including:
- How to Choose a Niche - There are many tips on the process of selecting a niche. In this lesson, Nathan simplifies everything and explains how to choose a niche where you have both passion and skill.
- Foundr's 3-Step Course Subject Validation Process - There is a lot of talk about selling courses online, but the key to massive launches is to validate the course before you create it. In this lesson, Nathan decompresses the Foundr process to validate each course we create.
- The Audience Growth Equation - To build a brand using content, there are a few things you need to do right. In this lesson, Nathan explains the equation he developed to scale Foundr's growth through the power of content.
- Foundr's Proven 7-Step Course Creation Process - After creating a dozen courses, Foundr has developed its own seamless course creation process. In this lesson, we show exactly what we do to create each course that we publish.
- The scarcity-based launch framework - To have a six- or seven-figure launch, you need to learn how to position your offer. In this lesson, Nathan explains the power of leveraging scarcity when launching a course.
READ MORE: How Foundr Created Its First Product Launch
What this course is not
There are many myths surrounding the digital commerce industry. You may have heard a lot about “passive income” or the “4 hour work week” and you might think that starting an online course is a given.
It couldn't be further from the truth. An online course takes a lot of hard work, from lesson planning and design, production, editing, and marketing.
If you have a large following, you could potentially sell a simple ebook for $ 7 and earn a few thousand dollars in a matter of weeks, but that's not what we're aiming for (and you probably don't have an audience yet too. wide. in any case).
We treat our courses like a product like an eCommerce store owner treats a physical product. Just as the latter requires serious work behind the design and manufacture, so should you do with your digital product.
Plus, we want you to build a business; we want you to think about your digital product too. There is no silver bullet in this course, nor is it a get-rich-quick scheme.
Rapid Course Formula is all about building a business around a high quality digital product. If you are willing to make the sacrifices and work hard, you will reap the rewards.
Ready to start a business you're passionate about?
If you are an entrepreneur looking to build a business around digital products and build a scalable business, we'd love to see you on the other side of the fence.
What are you most looking forward to learning in this course? Let us know in the comments below!
The biggest problem founders and small business owners have is that they’re experts in their field and novices in what it really takes to effectively run a . That’s what usually trips them up, sooner or later.
Don’t let that happen to you. Admit that you don’t know what you don’t know about business, starting with these 15 tips guaranteed to help keep you and your company out of hot water. Some are straightforward, others are counterintuitive, but they’re all true. And some day they’ll save your butt.
Always make sure there is and will be enough cash in the bank. Period. The most common business-failure mode, hands down, is running out of cash. If you know you’ve got a cash flow or liquidity problem coming up, fix it now. You can’t fire bad employees fast enough. You just can’t. Just make sure you know they’re the problem, not you ( see next tip ).
The problem is probably you. When I was a young manager, my company sent us all to a week of quality training where the most important concept we learned was that 90 percent of all problems are management problems. When things aren’t going well, the first place to look for answers is in the mirror.
Take care of your stars. This goes for every company, big and small. The cost of losing a vedette employee is enormous, yet leaders rarely take the time to ensure their top performers are properly motivated, challenged, and compensated. Your people are not your kids, your personal assistants, or your shrink. If you use and abuse them that way, you will come to regret it. Capiche ?
Learn to say ' yes ' and ' no ' a lot. The two most important words owners and founders have at their disposal are “yes” and “no. ” Learn to say them a lot. And that means being decisive. The most important reason to focus – to be clear on what your company does – is to be clear on all the things it doesn’t do.
It boggles my mind how little most créateurs d'entreprise value their customers when, not only are their feedback and input among the most critical information they will ever learn, but their repeat business is the easiest business to get. Learn two words : meritocracy and nepotism. The first is how you run an organization – by recognizing, rewarding, and compensating based solely on ability and achievement. The second is how you don’t run an organization – by playing préférés and being biased.
Know when and when not to be transparent. Transparency is as detrimental at some times as it is beneficial at others. There are times to share openly and times to zip it. You need to know when and with whom to do one versus the other. It comes with experience.
Trust your gut. This phrase is often repeated but rarely understood. It means that your own instincts are an extremely valuable decision-making tool. Too often we end up saying in retrospect and with regret, “Damn, I knew that was a bad idea. ” But the key is to know how to access your instincts. Just sit, be quiet, and listen to yourself.
Protect and defend your intellectual property. Most of you don’t know the difference between a copyright, trademark, trade secret, and patent. That’s not acceptable. If you don’t protect and defend your IP, you will lose your only competitive advantage.
Learn to read and write effective agreements. You know the expression “good fences make good neighbors ? ” It’s the same in business. The more effective your agreements are, the better your relationships will be.
Far too many fondateurs run their business like an extension of their personal finances. Bad idea. Very bad idea. Construct the right business entity and keep it separate from your personal life. Know your finances inside and out. If you don’t know your revenues, expenses, capital requirements, profits ( gross and net ), debt, cash flow, and effective tax rate – among other things – you’re asking for trouble. Big dysfonctionnement.
You don’t know what you don’t know. Humility is a powerful trait for leaders, and that goes for new owners, veteran CEOs of Fortune 500 companies, and everyone in between. More times than not, you will come to regret thinking you knew all the answers. Behind every failed company are dysfunctional, delusional, or incompetent leaders. The irony is, none of them had the slightest idea that was true at the time. Even sadder, most of them still don’t. Don’t end up like one of them.
For every success you have in growing your market share, another business or other businesses will inevitably lose ground. Here are 11 quick and easy business tips to gain a competitive advantage over your rivals and insulate yourself from the threat of new entrants in the market.
Of course, we all want to spark business growth and increase revenue. But the way you do this in a sustainable way is to focus instead on the building of a loyal database of avid fans. Content digital, paired with optimized website forms and compréhensif fax automation follow-up is critical to success. This approach builds trust by giving away free value before asking for someone’s hard-earned money. Not an expert in creating optimized lead generation pages on a website ? No worries, use a trusted tool like Leadpages to make it happen.
Like it or not, folks out there aren’t searching for your brand, they’re just looking to solve a problem or find a particular type of product ( unless you run Starbucks or Adidas ! ) Don’t list all the benefits your product brings. Focus on the solutions. Explain to the customer in simple, straightforward terms how or why your product can help them or assist in the attainment of their goals. Consider FedEx’s iconic slogan : When it absolutely, positively has to be there overnight. This was a clear example of addressing widely-spread anxiety about the reliability of delivery services. Run through some market research to profile your target customer. How does your product or service – and your delivery and and price point – solve other people’s problems and make their lives easier or more pleasurable ?
Dropping prices doesn’t necessarily raise sales, for instance ( though it will definitely squeeze margins ). If you place yourself as a premium brand, then your customers aren’t necessarily value-driven in the first place, and cutting prices could even tarnish your brand. Consider this case study from Robert Cialdini’s seminal book ‘Influence : The Psychology of Persuasion’ : a jeweller sold out of turquoise jewelry after accidentally doubling, instead of halving, the price. The inflated price tag lent the product an unwarranted cachet ! If you are a de haute gamme brand, there are ways to optimize your pricing without lowering prices. For example, offer the quality-conscious customer an ‘exclusive’ benefit that your rivals do not or cannot provide. If you are at the value-driven end of the market, on the other hand, don’t assume slashing prices means incurring a loss. Low pricing can help you rapidly onboard a heap of new customers who may also buy other items in your shop and return again. Context also counts for a lot with pricing. The best way to sell a $5, 000 watch, for instance, could be by putting it next to a $10, 000 watch. Think strategically when it comes to deciding any price point.
Yes, it sounds obvious, but it’s so very important ! Whether consciously or not, people are more likely to buy a product if they like the sales assistant who’s attending to them. While the employee’s personality obviously has no bearing on the price or your product’s ability to serve their needs is irrelevant. Friendly customer-facing équipe will always attract more sales. Be rigorous in hiring people who are genuinely cheerful, friendly and outgoing. Make sure your training program teaches them to adopt a consistently friendly approach that puts customers at ease and feel like a priority.
Say you’re a bricks-and-mortar store and you’re getting a rush of customers as closing time approaches… why not close up an hour later ? While this may cause disgruntlement among staff, solve this provenant by getting creative with rosters. Monitor customer footfall throughout the day and week to identify your busiest periods, and équipe people accordingly. You can also reduce headcount during quieter periods to offset the higher costs and longer sérieux hours created by your extended opening hours. It’s a win-win !
Even in the digital age, some customers will always prefer to contact you by phone rather than mail or Facebook. While many online companies with tight margins eschew manned phone lines altogether, it’s worth giving customers the option of having a voice-to-voice conversation with your brand. By all means, slash the time and cost spent responding to queries by funnelling customers to standardized, pre-existing responses on your webpage ( i. e., FAQs ). But if their query isn’t listed in the drop-down menu of FAQs, then don’t make them click more than once more to find your phone number. Put it front and center on your web page, particularly if you’re a retail offering. ‘Live chat’ bots are an inexpensive way of offering real-time communication, too.
Why not give your happy customers a voucher with their purchase to redeem on your products and services ? If they love what you do already, they’re only going to love you more for this. It’s good for you because : It guarantees they will return to your store again. People hate to waste freebies ! When they return to your store to redeem their voucher, they may buy other items, too. If your operates online, then the freebie could be strategically timed to coincide with a special sale. Oh, and guess what ? Chances are customers who have received vouchers or freebies won’t stay quiet about it either, so you could enjoy some positive buzz on social media.
Local businesses can arguably connect with their unique communities with much greater authority than any global chain. A local retailer, hair salon or gardening company can sponsor a kid’s sports team and offer deep discounts for OAPs at the same time. Some cinemas feature special ‘sensory’ screenings where parents can bring kids with autism ( who would normally be overwhelmed by busy, noisy environments ) to enjoy a movie in a relaxed, stress-free atmosphere. This reflects well on them and also guarantees them a loyal customer niche. Whatever you choose to do to support your community, make sure it authentically fits with your brand offering and journey to date.
Social media is a great medium through which to build a solid relationship with customers – just don’t forget what ‘social’ actually means ! Soul-less corporate shop-talk won’t work on Twitter. Try to give your brand some ‘personality’ when you write updates or posts. This can bring its own risks, oui. But if you get it right, the benefits can be immense. Develop a tone of voice that aligns well with your brand identity. Seek to inform, help, entertain or amuse. And most importantly – given the dire PR consequences – don’t patronize, try too to be funny, or tweet after a few alcoholic drinks !
Sometimes it’s better to be a master of one discipline than a jack of all trades. Admittedly, multiple revenue streams do spread your risk : if one falters, others can take up the slack. Nevertheless, consumers often associate ‘specialists’ with higher quality products or services than generalists. And with good reason, too : specialists typically invest all their resources into perfecting a solo product or service. So what should you specialize in ? tera state the obvious, it should be something in which you excel. You could also pick something with rising or recession-proof demand which is resilient to technological change in which you possess a competitive advantage over your rivals or where there’s an obvious gap in your local market. Own it, whatever you do.
Don’t ever get too satisfied with your . You can always improve – and improve you must ! Don’t get me wrong : without the odd moment of smug satisfaction, what’s the point ? Do relish in the successful launch of a game-changing product or take pleasure in positive customer feedback. But don’t let your customers hear you banging on about it time after time ! Be alert to the common element that has led to the downfall of countless hitherto thriving brands : complacency. Imaginative, nimble and innovative start-ups often do better than big market précurseurs that just got lazy. You may be the disruptive innovator today, but tomorrow you could be the complacent market leader with a tired model. So try to be humble and always strive to improve. Seek inspiration from other entrepreneurs, from books and from seminars. The moment you think ‘mission accomplished’ is the same moment you become vulnerable to being usurped.
There are lots of ways in which you can improve your business, and not all of them are complicated ! Try out the above business tips or integrate them with your existing strategies, and let me know how you go in the comments below. Guest Author : Faye Ferris is responsible for the day-to-day management of the Dynamis APAC Pty Ltd offices in Sydney. She develops the DYNAMIS durable of brands and their expansion into the Asia Pacific region as well as BusinessesForSale. com, FranchiseSales. com and PropertySales. com. If you have an interest in partnering up with Faye or advertising on any of these websites in the APAC territories, please do not hesitate to contact her on faye@businessesforsale. com.