Amy Porterfield, ex-corporate girl turned online marketing expert and CEO of a multimillion-dollar business, shares insights on creating a profitable digital course. She emphasizes stepping outside your comfort zone, maximizing efficiency, and setting revenue goals. Learn how to price different types of courses and sign up for a masterclass to unleash your potential.
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Quick takeaways
Creating a digital course can provide additional revenue and reach a wider audience for business owners offering one-on-one coaching or services.
Using the Sweet Spot Formula can help in identifying a profitable course topic by considering expertise, audience struggles, market demand, and personal satisfaction.
Deep dives
Benefits of Adding a Digital Course as an Additional Revenue Generator
Adding a digital course to your already successful business can provide several benefits. For example, if you are currently doing one-on-one coaching or service work, creating a digital course allows you to reach a wider audience and generate additional revenue. Amy Porterfield mentions a student of hers who was a psychologist and created a digital course to reach more people and make money when she wasn't working one-on-one. By leveraging your expertise and skills into a profitable digital course, you can have more freedom and create an extra stream of income.
The Sweet Spot Formula for Choosing Your Course Topic
When deciding on the topic of your digital course, Amy Porterfield suggests using the Sweet Spot Formula. This formula consists of four quadrants. The first quadrant is identifying your expertise and where you have seen results for yourself or others. Amy gives an example of a student who worked at a bank but created a course on her hobby of boudoir photography, which became highly successful. The second quadrant involves understanding the struggles, pain points, and desires of your target audience. The third quadrant focuses on assessing the money potential and market demand for your course topic. Finally, the fourth quadrant emphasizes finding a topic that brings you joy and satisfaction. By considering these four quadrants, you can come up with an initial idea for your digital course.
Determining Revenue Potential for Your Digital Course
Amy Porterfield shares insights on how to determine the revenue potential of your digital course. She advises setting goals for your course launch and deciding on a pricing strategy based on the type of course you create: starter course, spotlight course, or signature course. Amy provides examples of how different pricing strategies can help you achieve your revenue goals. For instance, if your goal is to make $5,000 with a course priced at $250, you only need 20 sales. Creating higher-priced courses or incorporating upsells can help you reach even higher revenue targets. By understanding the math and strategically pricing your course, you can have a clear idea of the income you can generate.
Amy Porterfield is an ex-corporate girl turned online marketing expert, author of the New York Times bestselling book Two Weeks Notice, and CEO of a multimillion-dollar business. Her action-by-action teaching style provides aspiring business owners with the tools they need to bypass the overwhelm and build a business they love. Learn more at AmyPorterfield.com.
Top 3 Value Bombs
1. Everybody has a digital course in them, and the only thing that might stop you from getting started is thinking that your idea isn't good enough, or you're not ready, or you need more time. And all of that is an excuse.
2. The sweet spot formula is your first big validation exercise to get the idea out of your head and to get things rolling.
3. Know how much money you consider is good, great, and the amount you consider to be ON FIRE!
HubSpot There’s a better way to win, and it all starts with the new HubSpot Sales Hub. It’s smart software for smart sales teams that feels good to use! Try it for yourself at HubSpot.com/sales
Belay Stop wasting time on tedious tasks that are better done by someone else. Delegate with BELAY Download their latest resource, The Power of Productivity, for free. Just text FIRE to 55123
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