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What are the pros and cons of creating and selling an online course?
Is it worth it to create an online course? Are you not sure yet?
You're in luck because in today's video I'm going to cover a full list of pros and cons, things to think about or look out for, and much more before creating your online course!
In this video, I am going to cover:
- The breakdown of the most common pros and cons of creating and selling an online course
- Why you can NOT let the cons list stop you from ever releasing your online course or program
- AND... why creating an online course is way more profitable than any other business out there!!
What are the pros and cons to creating and selling an online course. That's what we cover in today's video. And don't forget to subscribe if you like videos like this, as I release them each and every week,
Hey everybody, Dan Henry here, founder of get clients.com. And I'm very excited about today's video, because if you'd like to learn the pros and cons of selling all my courses, wouldn't you like to learn it from the guy that literally wrote the book on online courses and I'm serious because this is my book, digital millionaire secrets, a wall street journal bestseller. And it's literally all about selling online courses and coaching. So what I'm going to do in this video is I'm going to go over the pros and cons. Now you may be considering selling an online course for a variety of reasons. Maybe you want to sell what, you know, you want to profit from selling your advice, or maybe you have a product that if people just knew a little bit more about how it works, or they were a little bit more educated on the subject, they would buy it.
Or maybe you have a software and you want to grow your software by selling or giving away for free and online courses that educate someone how to use that software or that use that tool so that they'll go out and actually buy it and use it. So regardless of where you are in that space, I think you'll find this video very helpful. So let's move over to the board here and I'm going to go ahead and go through each one and elaborate on these pros and cons. So let's start with the cons and keep in mind these cons, if you know what you're doing cannot be that bad and not be that much of an undertaking. And I'll explain why. So the first thing is updates. You will have to update your online course when updates are needed. So for instance, let's say that you have a course on Facebook ads or podcasting or something that requires technical skill.
You'll need to make sure that if something massive changes in that space, like, you know, a website changes or something like that, that you will update them. Now, one thing that I do to keep my courses up to date is I separate strategy videos from tech videos. So I give a lesson in strategy so that, you know, I can teach that maybe I teach it from a whiteboard or live action, like this video right here. And that strategy really likely does not change because I will tell you, for instance, I used to have a Facebook ads course. And when it comes to writing copy and creatives and things like that, that stuff really doesn't change. Maybe this stuff in the dashboard changes, but not so much the actual strategy. And so what I like to do is I record strategy videos, and then I record actual tech or implementation videos.
And those are usually screenshare. So at any point, if I need to go update those videos, it's super easy to do. And I don't have to jump back up here and film videos and redo everything and cut my hair again. I can just use the videos that need updating as screenshare videos. It makes it a lot easier. So the second thing is piracy. Now piracy is a big issue with online courses. If your course sells a single copy, likely within five minutes, it's going to get pirated. Now I'm actually going to make a separate video on this subject on how to deal with piracy in online courses. Cause believe me, with over 15,000 customers, if there's one person that knows how to deal with piracy in online courses, it's more a here's. The thing about piracy is if you sell a course that you sell over an order page, it's going to get pirated, but there's some strategies and techniques you can use to limit that as well as actually flip it around and use it to your advantage.
But you will deal with that. The thing you have to understand is that will happen and you can't not move forward with an online course because you're afraid of piracy. I would not have made, I would not have created an eight-figure company selling information products. If I was worried about, or I freaked out when my stuff got pirated, it has been pirated. But the thing is, is that I know how to use it to my advantage. Plus, if you sell a higher-end course, one that you would sell over the phone, piracy doesn't happen because people sign a contract or on the phone that it just doesn't happen. I'll expand more of this in a different video. But the S the third thing is planning and production. Now, most people make a huge mistake here, and they try to spend weeks and weeks filming and planning and doing everything.
And again, this will be even yet another video I'll expand on, but I like making videos. But the point here is that your first iteration of your online course should not be fancy because you're likely going to change it. And you're likely going to update it. And you're likely going to get a lot of feedback from your initial students. And so I wouldn't go crazy. In fact, my first course that made $8 million total over the course of a few years. First was just some dirty down and dirty slides with me talking over a cheap microphone. And then later on, you know, I made it more polished. But the thing about it is, is that, you know, planning and production can be, if you know what you're doing a lot quicker. In fact, if you would like me to do a video on how to create an online course in just one day, leave a comment in the comment section and let me know, say yes, man, I'd love for you to do a video on how to create an online course in just one day.
And if I get enough comments, I'll go ahead and do that. But keep in mind, there is some planning and production when it comes to that, you have to sit down and you have to record the videos and all that. But again, what business doesn't have planning and production so hard for me to really define that as a con, but the fourth one is taxes. Now, what do I mean by taxes? Because online courses is such a high profit business. And we'll talk about that over here in a minute. There's not as many write-offs as in traditional business. Sure. You can write off things like software and, and, and you know, online tools and things like that. But you do have to have a pretty good CPA to really get in there and get the deductions. Cause it's not as cut and dry as normal business, but again, because you're paying so much in taxes means you're making a lot of money.
So again, questionable, whether that's a con. Now the final thing is going to be refinement. You're going to need to refine things as you go, you're going to have customer services. You're going to have customer support tickets. You're going to have people that are students that think they're missing something, or they want to learn something extra. And you may have to refine things, get the course better. You may find that people aren't getting as good a results as you want. And that's totally normal. You can't sit here and say that if you create a course today, that if you're refining it over time in one year or two years or three years, it's not going to be better than the first iteration that your students aren't going to get better results than the first iteration. That's just how it goes is how you refine any product.
And so one thing with all my courses is you want to begin and you want to constantly refine, because if you don't refine, you're not going to be able to compete. You're going to want to have a good product and a good product starts with the product being pretty good and then getting better and better, better over time until it's eventually great. So that right there is a, I guess a con, but honestly, if you care about your students, you'll want to refine the course over time anyway, and put that attention into it. So now let's move to the pros. The first pro is authority. Just the fact that you're teaching it, whether you believe you're an expert in authority or somebody, else's, it doesn't matter. Just the fact that you've taken the time to teach it and create a course lends you immediate authority.
It's very similar to a book. The fact that I wrote a book automatically gives me authority. When I go on a podcast, if I say, Hey, I have a course on this subject, or, Hey, I have a book on this subject automatically. It gives me authority. But if I say, Hey, interview me on your podcast. I don't have a book. I don't have a course. I don't, I just have done this thing. It doesn't lend as much authority, but if you teach something, it has instant authority. The second thing is more impact. If you do something for someone, you can make this much impact, but if you teach people to do it, you can make a lot more impact. It's sorta like if I hand you a fish, I feed you for a day and it impacts you for that day. But if I hand you a fishing pole and I teach you how to fish now, I've taught you to feed yourself for the rest of your life.
And that is much more impactful. I believe teaching something is more impactful than doing it for them. The third thing is high profit. Listen, I have owned two bars. I have honed an airbrush tattoo company. I've owned a cotton candy company. I have owned an SEO company and agency I've been everywhere. I to teach your company had a company called dork teas, where we had tee shirts. That said stuff like have like captain Picard on the toilet and said, captain's log. Yeah. You know, it just silly stuff. And I've done all of it. And let me tell you something right now, there is no greater purpose, profit business, online courses. They're so profitable because there's no cost of goods. Once you create it doesn't matter. If one person watched the course or 1 million people watched the course, it, it doesn't really cost you anything extra, maybe some extra staff for support, but it's not like you pay per course.
Once the videos are done, they're done. So it's very, very high profit. Also educate to sell online courses are some of the best ways to educate potential customers so that they can buy your products. If you have a software and you give out a free or low priced online course, and you educate people and you make them go, wow, this is amazing. I can do this well in your course, you teach with your software, how to do it. Now they can buy your software. And now they see how valuable your software is. For instance, I build up a multimillion dollar software company simply because I had an online course that taught people how to use Facebook ads to advertise for the local business. So I partnered with a company. We created a software that allowed them to manage their clients and update their clients on their leads.
We then refilm the course. We taught them how to grow their local ads with that software. And we didn't really do any extra work. We built a multimillion dollar software company simply by creating a tool that our existing students could use. So if you already have a software, you could create a course, give it away for free or charge a low price. Use your tool in the course and just skyrocket sales. Now, please, don't ask me about that program. That course I don't sell it anymore. And I've even sold the company, the software company that I started, and we got a great multiple for it. So again, just so many ways to make money with online courses. The other thing is scale guys, if you, again, back to the impact, if you imagine how much work you would do, if you had a hundred done for you clients, a massive amount of work, but if you have a hundred students, it's, it's like no work.
I mean, we have over 15,000 customers and I'll tell you right now that we do less work with 15,000 customers than we do with then I would think we would do with a hundred done for you clients. And the reason I say, I think it's because the most clients I've ever had at one time was about 15 done for you clients. And that was a nightmare. I can't imagine 100, but I'll tell you right now, I do less work with 15,000 customers than I did with 15 done for you clients, 15,000 students, online course, students versus 15 done for you clients more work in the 15 clients. So more scalability as well. You can have the potential for affiliate offers. So just like I mentioned for the software in my courses, I use various tools owned by other companies and they have affiliate programs. And so I just pop in the link in my course, and I say, Hey, this is how you do this with this thing, by the way, if you want to sign up for this tool, here's the link.
And that's my affiliate link. I've generated over three quarters of a million we're approaching. Eventually we'll hit 1 million in affiliate commissions with click funnels because in my program, I teach people how to create the landing pages and the marketing funnels they need. And we use click funnels. So, you know, watching that affiliate account grow from a hundred thousand, two hundred thousand five hundred thousand seven hundred fifty all the way up, and eventually we'll hit 1 million. And guys, all I did was say, Hey, here's the link to get this software that I use, that I'm teaching you to achieve your goal. This is one of the softwares I use. So a ton of opportunities there for affiliate offers. Just, just the tools that you use that you teach in the program, give him an affiliate link done. Also it's very passive. It's very passive business compared to most businesses. Again, like I said, the done for you clients, way more work, online courses, even a coaching program where everybody attends a group coaching call, way more passive.
Personally, I don't do much in my program except you know, the content creating updates for the program, as well as something YouTube videos and podcasts. That's pretty much all I do. That's it. And in coaching. And finally, and this is great. One V and this is one, a lot of people don't think about it validates permanent products. So for instance, after I had a successful multimillion dollar course that teaches people how to sell their advice online. I eventually turned it into a legitimate coaching program and we upgraded the whole program. I have four coaches, there's four calls per week, and now it's an a coaching program. So that digital product, that coaching program ended up being so popular and so successful that it validated exactly what I was teaching. I adjusted lessons. I answered questions on coaching calls. I refined my ability to teach that subject.
And so I then eventually created this book and wrote this book, digital millionaire secrets. I didn't just write this book. I taught what's in this book in an online course and a coaching program, refined it, validated it. And then I put some of the biggest takeaways in this book and it became a wall street journal bestseller. I highly doubt that this would have became a wall street journal bestseller if I just wrote it. And I didn't, I just guessed what I'd write in the book. No, there were stories and concepts and strategies and techniques that I included or didn't include in the book based on my experience with my online courses. So that right there is the pros and the cons to online courses. I hope you enjoyed this video. And if you'd like a copy of this book, I'll leave a link in the description where you can get this book for free, just pay shipping as well. If you've already read the book and you'd like my company to help you grow and scale S or even just start your online course or coaching program, then you can book a call and speak with my team to see if it's a fit. I'll leave a link for that description as well. But don't forget to subscribe because I release new videos like this each and every week. And I don't want you to miss them. I'll see you in the next one.