A lot of us are wondering what we should focus on in our business with so much change and uncertainty engulfing us daily.
On top of that, many have lost income and need to replace it.
But with disruption there comes opportunity.
It’s become clear to me over the past several weeks, as I’ve worked with clients and had conversations about what’s working now, that online courses fall into the category of “significant opportunities” right now.
I’ll share the reasons why in a moment. But first, I want to be clear that I’m not one to push a “here’s the one thing you absolutely must do right now because it’s the only thing that can fix everything for you” solution.
With that said, here’s why now might be the perfect time for you to launch your first (or next) online course.
1) Online Learning is a Big Opportunity Right Now
Throngs of people have turned to the Internet for learning since going into quarantine. People are also using this time to learn new skills and ideas both as a pastime as well as to bolster their resume for the future.
I have one client that recently partnered with an educational organization to create new training because more of their students and alumni are asking for it. They had never done a digital offer before. The first one sold out in a matter of days.
Awareness of digital learning has increased dramatically. This shift presents an opportunity that will endure beyond the pandemic.
2) Bring In Cash Quickly
You’ve already heard the story about how one of my clients lost 40% of her immediate income when the coronavirus arrived in the States. This created a lot of uncertainty and stress.
However, she went from being stressed about paying bills to replace that income in just three weeks by quickly launching digital courses. It’s worth noting this was her first time offering an online course.
You can launch a pilot course and bring in much-needed cash in a matter of a few weeks. The operative word here is “pilot.” It doesn’t need to be fancy to bring in good money and make an impact on people’s lives.
3) Create an Asset You Can Leverage for Years to Come
While so many things are stuck in a holding pattern of uncertainty, one thing you can do right now is set yourself up for future growth. Launching an online course not only brings cash in the door right away, it creates an asset that will grow your brand and business for years to come.
4) Protect Your Business Against Downturn
I have two friends who make a lot of money speaking. When COVID hit, they both lost tens of thousands of dollars in gigs in the blink of an eye.
For one friend, this represented 95% of her income…gone. She went from multiple six figures to worry about paying her rent. The other friend still has more than enough income to float her through the quarantine. The difference is that friend #2 has online courses and programs to sell.
Your business is strengthened against inevitable shake-ups and downturns when you diversify your sources of income.
5) An Entirely New Audience is Waiting for You
I have a client who was forced by the quarantine to take her workshops and classes online. To her surprise, she’s attracting a significant number of students from outside her usual crowd. Without the limitation of geography, she’s now reaching an international audience.
These are paying students who are now on her list. These are people she can sell other offers to in the future, even beyond the pandemic.
6) A Sense of Purpose During These Difficult Times
As one client put it: “When I feel down about everything going on and wonder if I’m doing enough, I find that focusing on creating my online courses gives me a sense of purpose. Plus, it gives me an opportunity to focus on helping others.”