Should I launch an online course for my business?
As a business coach for smart, savvy female entrepreneurs, one of the questions I’m often asked is, “Should I launch an online course?” And my usual answer is, “Well, that depends.”
Online programs can be a fantastic way to expand your reach, generate passive income, and make your knowledge more accessible to a wider audience.
But there are several factors you need to consider when deciding whether it makes sense for your business and, based on these factors, the right formats and tools to create and successfully deliver your course.
Let’s dig in.
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1. Assess Your Current Business Situation
You need to do an inventory of your current business situation, including:
Your service or product offerings
Your pricing
Your ideal clients or target market
What's working well or not in your business
This information will help you identify the reasons why you want to create an online offering and determine whether it's a good fit for your business goals.
2. Identify Your Motivation
Understanding the "why" behind your desire to create an online offering is crucial for success, as this will help you determine the need and inform the format, positioning, content, pricing, and more.
Some common motivations include:
Delivering your services in a new way
Reaching a broader audience
Creating an additional revenue stream
Offering more affordable options
Working with groups instead of just one-on-one
Generating passive income
Responding to customer demand
3. Explore Online Course Formats
There are several formats to choose from when creating your online course, including:
Group Coaching Online
Self-Service Courses
Combination Courses (a mix of live and pre-recorded content)
Each format has pros and cons, so choose one that aligns with your motivations, intended outcomes, and what works for you.
Yes, this last point matters — don’t just default to what you think you should do and/or what everyone else is doing. Creating, launching, and running a program is a big undertaking and, frankly, it needs to light you up. If it doesn’t, don’t do it.
4. Key Considerations
As you move forward, keep these key considerations in mind:
Time and money: Creating an online course requires a significant investment of both time and money. Consider your available resources and be realistic about what you can achieve within your desired launch timeline.
Pricing and payment options: Determine the price of your course and how it fits with your other offerings. Consider whether you will require upfront payment or offer payment plans.
Launch period and course duration: Decide if your program will only be available during a launch period and if it will have a start and end date.
Marketing and sales: Plan how to market and sell your course, including social media, email campaigns, webinars, and paid ads.
5. Investment Breakdown
Consider the following aspects when determining your time and money investment:
Research and content creation
Course setup and administration
Marketing and sales efforts
If you plan to do all the work yourself, be prepared for a substantial time investment. Alternatively, you can invest money in hiring professionals to help with content creation, course management, and marketing.
6. Platforms and Tools for Online Courses
There are numerous platforms and tools available for creating and delivering online courses.
Some simple and cost-effective options include:
Email platforms (e.g., Mailchimp, Flodesk, Active Campaign, Klayvio, Constant Contact)
Google Drive for hosting content
PowerPoint or Canva for presentations
Zoom for live group coaching or one-on-one sessions
Voxer for group communication
Venmo or PayPal for accepting payments
Standalone sales pages or website-integrated landing pages for launching your course
For more robust course hosting and all-in-one solutions, consider platforms like:
Zenler
Kartra
Kajabi
Ruzuku
Circle
Your website (depending on your service provider)
These platforms often include features such as sales pages, email campaigns, live video, and content hosting, ensuring that you have everything you need to launch and manage your online course.
7. Tips for Getting Started
To make the most of your online course creation process, follow these tips:
Determine how much time you have available for research, planning, and development.
Take your desired launch date into account and work backward to set a start date for your course creation process.
Block non-negotiable time on your calendar dedicated to working on your program.
Be prepared to adjust your schedule when "life happens" and make up for lost time when necessary.
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Launching an online course or program for your small business can be an amazing experience that helps you reach new audiences, generate additional revenue, and share your expertise with more people who can benefit from the transformation you deliver.
When you consider your motivations, choose the right course format, and utilize the appropriate tools and platforms, you can create a successful online offering that benefits both you and your customers.
If you need help determining how a digital program can help you profitably grow your business, book a Discovery Call so we can start exploring your options.
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