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How to Get the Highest Profitability from Your Online Course

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January 27, 2021

It’s 2021 and we are not seeing online courses or digital products easing up at all. In fact, I think 2021 we’ll see online courses and digital products ramp up even more than last year if that’s possible. If you are watching this, there is a good possibility that you are planning to launch a course this year. Whether it’s your first-course launch or your 20th-course launch, I’m here to tell you how you can make the most profit possible. Spoiler Alert: No, I’m not going to tell you to spend $0 and do all the work yourself. Keep reading to see what I have to say, and make sure to read until the end because I have something for you that I’m so excited about it and it’s going to help you plan for maximum profitability!

As I said, whether this is your first rodeo with course launches or your 20th, I want you to be profitable – and not only profitable but the max profitability you can get! So, how can I do that for you? Well, technically I can’t DO that for you but I can tell you how you can achieve it.

My first tip – PLAN! Yes, that’s right. Plan for the launch. I know it’s super easy these days to use a site like Kajabi or Teachable or something similar and get a landing page and space for your course content up in a matter of days but that doesn’t mean you shouldn’t plan for what is going to happen leading up to the launch, during the launch and after the launch! The best thing you can do is budget specifically for the launch. A budget is a form of planning your money. You are figuring out where your money is going to come from, where it’s going to go, how much you’re going to receive and how much you’re going to spend. And don’t be scared by the term budget, I don’t think you have to pinch pennies and cut all of your spendings in order to make a profit, I just think you have to plan for it. So go ahead and spend some time creating a budget specific to your course or digital product launch and see how you can plan out the money you’re receiving, the money you’re spending, and what your bottom-line profit will look like.

My second tip – Create a revenue and cash flow plan. Yep, that’s right – more planning! But seriously, after you have a budget in place, you can look at your revenue and cash situation and plan what that will look like. I like to do this with (at minimum) two scenarios – a breakeven scenario and a dream sales scenario. So I like to see what it would look like if I made just enough sales that I broke even based on the budget that I had in place and then also I will have a dream sales goal where I run a cash and revenue flow plan to see what that would look like if I made that dream sales goal as well. By doing this, you know exactly what to expect as far as money that’s coming in and money that’s going out. 

My third and final tip – Analyze your profit. You planned, you launched, now what? Well, how did it go? Did you meet your breakeven goal or even better did you meet your dream sales goal? No matter where you were at, break-even, dream sales, or somewhere in-between, you’ll want to analyze and see after all of that at the end of the day how much profit you made. What was worth the time and money and what wasn’t? By analyzing all of this, looking at the numbers and the money you brought in and spent and how that really played out, and what your bottom line profit was, you’ll be able to plan for the next launch. If you follow these 3 tips: plan by budgeting, creating a cash and revenue plan, and analyzing what happened after the launch, I pretty much can guarantee you that with every launch it’s going to get a little better because you’re going to see what worked and what didn’t. Where was your money and time best spent and where was it not best spent? And with that, you’re really going to be able to maximize your profits because for the first time maybe or maybe just better planned than usual, you’re going to be able to see your actual profit!

We help so many business owners with their bookkeeping and taxes that are launching courses and digital products and at the end of the day, they don’t really know what their profitability is. The reason is that they’re scrambling to get all of the content, all of the lead pages and lead magnets, all of the funnels, ads, etc. And when they launch, they see a lot of money coming in and a lot of money going out, and they don’t really know what their profit is on that specific launch or that specific product. You’ll hear me say it in videos a lot when I’m talking about best practices for bookkeeping, you really want to know your numbers. If you don’t know your numbers, how can you make good business decisions going forward? The same goes for all of the little things that you’re doing in your business. So if you are a course creator or a digital product creator, someone who is branching out into that space this year, or if this is your 20th launch, you really want to know: what is my profitability and how can I really maximize that? Well, you’ve got to know your numbers and you have to see them on paper, so-to-speak!

Now, I’m so excited because *drum roll please* I just launched a course especially for you and it’s all about budgeting for a course launch! I took the budget I put together and used it for my own course launches and added training videos and free downloads so that you too can use it to budget for your own course launch. I’m so excited about this because it’s an easy, simplified method but it’s a sure way to step into your course launch with more clarity than ever before when it comes to money.

 

 

So what is included in this course? A customizable budget for your course launch, a cash flow plan, and a step-by-step process on how to analyze your profit after the launch. The best part is, it’s only $47, yes you heard that right, $47!  I truly stand behind my course. After working with hundreds of course creators I saw a pattern. Too many are going into their launches blind. I know that “Budgeting for Your Online Course” will bring value to your next launch.  That’s why I am including a 100% Money Back Guarantee. I am including this because I have full confidence that this will benefit both you and your business!

What will be the result of this course? A custom plan for profit! No more heading into a course launch blindly, wondering if you’ll even make any money at the end of the day. So, what are you waiting for? Buy my new course today and start budgeting for your course launch!

Plus, I have a free bonus: I’ll be offering up a free Q+A session here in a couple of weeks so make sure to stay up-to-date with my blogs so you don’t miss it!

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