How Much Can You Make Selling Online Courses?
Well basically, you can make an infinite amount of money selling online courses because the overhead is so low and it doesn’t cost you a lot of money to get started.
In this article, I will break down for you how much you can make selling your online course. I will break down the exact way on how you can reach $100k and $1M in revenue.
You know, most people think a million dollars is this fairytale story and that you can only get rich inheriting a lot of money. And I would like to challenge you on this thought.
It is absolutely possible to reach 1M$ (and beyond!) selling your knowledge online. So, let’s get this party started.
Do It The Right Way From The Start
Here is an easy breakdown, on how much you can make selling online courses:
Price x sold courses = revenue
$ 97 x 10,300 = $1M
$ 497 x 2,012 = $1M
$997 x 1,003 = $1M
$ 1997 x 500 = $ 1M
$ 10,000 x 100 = $1M
Your goal may not be $1M, but let’s say you would be totally happy and satisfied with $100,000 more on your bank account per year.
It still is a very decent number and would make so many people happy.
So, let’s break down the maths to reach $100,000 in revenue selling online courses:
$ 97 x 1,030 = $100K
$ 497 x 201 = $100K
$997 x 100 = $100K
$ 1997 x 50 = $100K
$ 10,000 x 10 = $100K
So now since you see what is possible, I would like to tell you how to get there too.
I have created an entire mini-course on how to build a strong foundation for your online course. If you would like my help nailing down the one-course idea which sells, you can sign up here for my mini-course “Get your course idea kick-started”.
This course consists of five learning modules (MP3 and MP4 format), five interactive workbooks which will help to guide you through step by step to build a strong online course foundation. There are also some surprise pieces of content along the way. 😉
Newsflash: not many people know how to do that, as most course creators just jump in and get started without selling their course before they created it, without having done proper research and without having ever gone this route before.
So, they end up wasting months of time creating a product which either nobody wants to buy, or only a few people.
Let’s continue and assume you have been through my training (From Idea to Course), which teaches you how to create a scalable online course which will bring you consistent income.
If you did that, then you are off to a pretty good start and you will be able to scale this baby to the moon and back.
Now, how will you get to your 100k / year? Well, that’s easy maths too.
You sell via webinars, 5-day challenges, phone calls or on events.
The conversion rate on all of these strategies depend on your skills and you will need to practise over and over and over again and become really freaking good at them.
To give you a better understanding, the average conversion rate of a webinar for newbies who have never done it before is 5%.
Shameless plug: one of my students just finished her first webinar and reached an 8% conversion rate!
And a good average conversion rate for those who are skilled in holding kick-ass presentations is around 19% (according to Neil Patel).
Let’s assume 100 people attend your webinar, and you convert 19 of those people. Your course is priced at $997.
$ 997 x 19 people = $18,943
It is really really that simple guy. Now let’s assume your conversion rate is meh because you just started out and you sell to 5% of those attendees.
$ 997 x 5 people = $4,985
So there you have it. Now you can hold one webinar per week, that would quadruple your monthly income:
$ 18,948 x 4 = $ 75,792 / month!
If you repeat this every month throughout the year:
$ 75,792 / month x 12 = $ 909,504
So that’s almost a million!
Do It The Right Way From The Start
There are many more tactics for how you can sell your online course, and a webinar is just one of those of course. Once you become really good at holding your live webinars and you see your closing rate going through the roof, you are ready to set this all on autopilot (you need lots of training and feedback to nail this down!)
And guess what? You can then take off a month or two and come and visit me in Bali. So that’s basically a good plan.
It sounds all very easy, right? It’s certainly simple as you have just read. But it’s not easy.
Why? Because most people don’t ever follow through. It takes dedication and hard work to get the things done.
Most people think “they know it all”, get started on their own, fail along the way, get discouraged and never pick up on their project again.
And don’t get me wrong, I used to be like this as well. And it blows my mind today… What was I even thinking lol. It wasn’t until I got coaching myself from different people who could point me in the right direction, speed up my process, and showed me what’s possible and what I need to do next, and what I should better stop doing right now.
Because they’ve done it. They’ve been there and they saw the bigger picture. Surrounding myself with these people made me believe and see it’s possible, and that I can do it too.
My moral of this story is we should never stop educating ourselves, no matter where we are at in our business journey. Only this way we constantly evolve, learn and teach others what we have learned and how they can do it better.
Even the best athletes in the world don’t “do things on their own” and have even several coaches.
Excuse me, but by now you know I am very direct. If you think you can do it on your own, then I think that’s very adorable.
Get yourself signed up for a mastermind group already, join a programme or sign up for a course. Your future self will thank you for it.
If you can’t afford to pay for a mastermind, create your own. It’s harder but not impossible… so good luck with that!
Now, I’m throwing the ball back at you. What’s up with you? What are your plans for the future?
How much can you make selling online courses? What is your number? What is your goal?
How are you taking action today? Do you want to start prepping for a better financial future or are you still “doing it on your own?”
You need to surround yourself with people who can push you get to the next level and stop hanging out listening to people’s advice who’s bank account has the same number as yours.
If you are ready to commit, talk to me.
Book your call right now here.
I am excited to take you on your course creation journey and bring you closer to your financial goal.
PS – Don’t book your call if you are not ready to commit.
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