The World's Most Perfect Business
Free Book Reveals
How To Turn
Into A Massive, Passive Income
Through Online Courses!
Welcome and thanks for visiting!
I'm Dave Espino and I am committed to helping you succeed with your own "How-To" video courses!
I help you leverage who you are so you can live your best life!
Why learn from me? Well, I’ve sold over $140 million of my own "How-To" video courses and related services, so I'm pretty qualified to help you with YOUR "How-To" video courses!
Hey welcome back, this is Dave Espino and today I want to discuss how much time you should invest when creating a passive income.
How Long it Takes Me
The quick answer is how many passive income streams do you want? Right? Because for me it takes me about 6 to 8 hours to create one online course and I use online courses to create passive income. Let's just say it takes me one full working day in the typical 9 to 5 model to create an online course.
Well I could hypothetically create a course every single day. Right now I don't do that because part of the work is creating the online course and then part of it is publishing the course and maybe doing a little bit of initial marketing to get the course launched. In general I could conceivably create at least an online course every week, and I've been on paces like that where I've actually done that.
In fact, one week I created five online courses. This was back in November of 2015 I believe, and it was amazing. It gave me a great income boost.
How Much Passive Income Do You Want?
So if you're in the online course business, the question should be “how many online income streams do I want?” Because really the sky's the limit. When you know how to create an online course that's like having your own superpower. You could create online courses about any kind of topic and you don't have to be an expert to do that. You could research out your course topic and create a course based on your research. You could create a beginner's course and create a course that only takes care of the newbies in that business, right? So you don't have to be this end all be all expert, or the world's leading authority on this topic.
That's not the case. All kinds of people can learn from you. Even if you create a beginner's course on a topic. Let me tell you some of the 60+ courses that I've created I was not an expert on, and yet people are getting tremendous value from these courses. They're giving my courses high ratings and they continue to buy my courses, and the reason is that it's a well put together and teaches them what I promised to teach them for that.
You don't have to be the world's leading authority. So back to the question, how much time should I dedicate to creating passive income? It really depends on how much passive income you want. Alright, so I hope you enjoyed this article and I'll see you next time.
Welcome back, and today I wanted to talk about how you can sell courses online. There's so many different answers to this question, so let me kind of go through it with you and go through the different methods I've used in the past.
What Are Your Options?
First of all, the broad question is, how do I sell courses online? Well, there's two primary ways that you can do it. Number one is you can sell on Udemy.com and other similar online course marketplaces. You can actually take the same course that you publish on Udemy, which is the biggest online course marketplace at the moment, and you can take that same course and publish it on all these other marketplaces. That's a good strategy because now you're able to not only have the income from you to me, but also these other marketplaces.
It diversifies and spreads out your income, spreads out your risk, and it's a really good strategy. It's a strategy that I employed as well.
The second way that you can sell online courses is through your own sales funnel, through your own self hosted online course platform. Right now there are a couple of good platforms for that. One of them is called Thinkific.com and the other one is called Teachable.com. When you put your course on one of these platforms, it's different because it's not a marketplace. There's no competition, there's no other instructors, it's just your course landing page and you now have full responsibility to sell your course.
You Need This to Help Sell Your Course So in order to sell your course, then what you need is a sales funnel. The sales funnel is a simple series of steps that people will follow and then eventually land on your course landing page and buy your course. Understand that it takes about 6, 7, or 8 exposures to an ad before people decide to buy from you.
What you want to do is set up a series of either emails or communications or Messenger Bot messages that go out to your audience so that you slowly but surely warm them up to buying your course. Now that takes time. It takes time to set up, but once you set it up it's an automated system that continues to sell your courses day in and day out and that's awesome.
So you have the marketplace model and then you have the sales funnel model and in my opinion, the sales funnel model is far better.
How I Sell Courses and Use Sales Funnels
In my case, I have about 60 plus online courses. 52 of them are on the marketplaces like Udemy or these other marketplaces and 8 of them are self hosted. I actually make a lot more money, even as much as 10 times more, on myself hosted courses than I do in my marketplace courses.
And the reason for that is there's less competition; there's no competition. I get 100% of the revenue versus sharing the revenue, and I've set up an automated system to be able to market these courses at a much higher price point.
So when you combine a much higher price point with no competition and you don't have to revenue share at all with a marketplace, that has the makings for a highly profitable business.
Those are the two main ways that you can sell your online course. Now if you're asking about ways to market your online course, that's another question and I might answer that in another article, but let me tell you for now what I would do is I'd be looking for people who already have the audience. People that you want to sell your course to, find those people online and do a joint venture with them.
Set up an affiliate arrangement with them, make it so that they benefit from you offering your course to their audience. That's one of the easiest ways to do it is to set up an affiliate arrangement.
Split your revenue 50 / 50 with that person that owns the website, that owns the Facebook group, that has a Youtube channel that has your audience; the audience you're trying to target. Split the profits with them and you'd be amazed at how much money you can make and how quickly you can make it by bringing in an affiliate, somebody who has a vested financial interest in sharing their audience with you so that you can make sales very, very quickly.
If you're interested in the online course business be sure to follow my content. I'm putting together a Fast Start Guide, to give some tips and tricks to help you get started in the online course business. Be on the lookout for that link in a future article. All right, I hope you enjoyed this article and I'll see you next time.
Hey this is Dave Espino, the InfoBoss, and today I wanted to talk to you about some of the best products you can sell online. Although I've sold all kinds of products online, I mean you name it I've probably sold it online, I have a particular favorite and that is digital products.
Why Are They My Favorite?
Now, digital products are amazing because you typically get 100% profit margin. That means everything that you sell that product for you get back in profit.
There is no cost to manufacturer or a digital product.
There's no cost to duplicate a digital product like there would be if you had DVD’s or CD’s.
So really 100% of that money is yours to keep. That's an amazing benefit of having a digital product. But then on top of that, the fact that you can create an automated sales system for your digital product while also creating a passive income, that's incredible.
Why Passive Income is Amazing
Now, if you've never experienced a passive income, let me tell you something. It's the greatest thing on earth. When you have passive income you can come and go as you please. You can do what you want, when you want, and you're still getting paid and that's amazing.
So the best digital product that I found, because there's all kinds of digital products out there, is to create an online course with your skills, your abilities, your knowledge, and your talents. Convert that into an online course that can be easily sold and resold and resold over and over again to people all over the world.
Now, if you're able to solve somebody's problem, then you can really have a very successful online course.
The Internet's an amazing thing when you use it, right? So my favorite product to sell online is a digital product. And my favorite type of digital product to sell online is an online course because you can not only make a great ongoing passive income, but you can also impact the world with your solution, your message, and things that you've overcome. And you can help people all around the world with those things as well.
If you like the idea of the online course business, be sure to follow me and check out my free ebook The World's Most Perfect Business. In this book I talk about the online course business, and why it is a great way to get a passive income. You can find my free book at DaveEspino.com/freebook. I'll see you next time.
Hey this is Dave Espino, the InfoBoss, and today I wanted to discuss how you can sell your expertise online as a product.
There are a lot of people selling their expertise online as a consultant, and if you sell your time as a consultant, you're still trading hours for dollars. Here at InfoBoss, we don't believe in trading hours for dollars.
We believe in passive income. That's where you do something once and you get paid over and over and over again. And that's amazing.
One Method of Selling Expertise (Without Trading Hours For Dollars)
Number one, the most common and oldest way to do it is to sell a book. Put all your expertise into a book, and sell that book either on Amazon or in the Kindle Marketplace. I got this book done by Createspace, which is an Amazon company. It allows you to create great professional quality books including a upc symbol, all that kind of thing.
That's one way to do it, but it's not the best way. Books have a certain perceived value, right about the most you're going to pay for a book is about $29.95 and that's if it's a really good book, or a really thick book with a lot of content or a very popular best selling book. But more likely you're going to be paying a $15, $20 for a book.
The Best Method of Selling Expertise in my Experience
So what's a better way to package up your expertise into a product? Online Courses. Online course can sell for anywhere from $47 all the way up to $1,500 for the right online course.
That is the ultimate way to package up your expertise, and sell it as a product. One way to package expertise is to add some consulting or some mentoring to your course, then you can kick it up into the $5,000 range.
I even have friends that have whole coaching packages that they sell for $50,000 and even $100,000. Now these are some incredibly high level marketers that can get that kind of money for their teaching, but even the average person can create a $997, $1,500, $2,000 coaching program where you work one on one or in a group coaching setting with your students and you help them achieve transformation.
That is the ultimate way to do it. If you don't want to do coaching, that's okay too, because you can just offer the course by itself for anywhere from $100 to $500, even a $1,000 for just the course materials by itself.
Just the video training, just that. And that can be an amazing business as well.
So that's my recommendation for packaging up all your expertise, put it into a format that people will pay a lot for. You know they only pay so much for a book, but they'll pay a lot more for a comprehensive A to Z transformational course.
That's what you want to have is an online course. If you liked the online course business, please follow my content. If you're interested in getting into the online course business, I'm going to be releasing a link to a brand new online course fast start kit soon. It's going to give you tips, tricks, and resources to get you off to the best start in your online course business. So be on the lookout for that, and I'll see you next time.
This was Dave Espino, and I thought I'd talk to you about the world of online teaching. I've been teaching online for almost two decades, and I wanted to do something I'm asked about a lot which is giving some tips about online teaching.
Well One of the Tips I Would Give is Just Get Started
Don't hesitate, don't slow down. Don't, don't stop because of you. Stop. You lose momentum, and if you lose momentum, you go into a negative spiral.
So I would recommend just get started. And the second tip I would give is forget about perfectionism. Forget about getting the course just right. Perfect. 100 percent on your first course. When you're first doing your very first course, you want to just get it done. You want to get through the process so that you learn the process so you can come back the second time and be much stronger.
Why Perfectionism Can Hinder Success
So that would be my second tip is forget about perfectionism. It doesn't have to be perfect, it just has to get done which is important because so many people waste a lot of time. Thinking I've got to get this perfect, I've got to show my best side, it's gotta be just right; and the problem with that is that also stops you and gets you into a negative spiral.
Anytime you stall in creating your online course business, that's not a good thing. It'll not only stall you bit, it might slow you down and might even stop you. I've seen a lot of people get stopped completely with either perfectionism or just they never got started at all.
Make Sure You Have the Proper Tools
The third tip I would give is start off with a screen recording tool. Don't use a face to camera course like this. Do a screen recording course because those are a lot easier to do, a lot easier to create and there are a lot easier to edit so you can get a screen recording course done very, very quickly.
It's very, very easy to do so those are three tips I would give you if you're just getting started in the online course business. Now if you're just getting started, I'm in the process of creating a fast start starter kit just for you. It's for anyone who's just getting started with the online course business. I'm going to have that link for you when it's available, so be sure to check out my future posts soon. I’ll see you next time.
Hey this is Dave Espino, the InfoBoss, and today I wanted to answer a question I heard recently which is “how do I know I'm good enough to create an online course?” You know, that's kind of a common thing that people deal with before they create their first online course and before they start getting some feedback from students.
Now here's the thing. Let me ask you this question. Have you ever shown anyone how to do something? Have you ever taught your kids how to tie their shoe? For example, have you ever shown a teenager how to fix a flat tire or how to change out a tire? Have you ever shown anyone anything? Chances are good that you have, whether it's been on your job, whether it's been in, in parenting, or whether it's just been in the world in general, right? So if you ever taught anyone how to do anything, then you have the skill of teaching.
Making a Course Exciting and Interesting
The question now becomes, how can you make a great course that people will be excited about and they'll be interested in? First of all, you've got to sell the course as is and not over promise on your course. The ideal thing would be to under promise and over deliver so you can do that by making sure you have a great outline for your course, making sure your cover all the different aspects of that topic, and by targeting an audience that's going to be grateful for your knowledge.
Now, understand that you're not either a world's leading expert or nothing. There are different degrees of expertise and so you can be an average knowledge person about a topic and you can still teach people who are below average knowledge, right? Those who are newbies or beginners, so you can still be the expert to these people.
Getting Better, and More Advanced
Likewise as you get better and better at your business or whatever it is that you're teaching, then you can start to teach more and more advanced topics, but there's a range. Understand it's not either I'm a top the world's leading expert on this or nothing.
There is a range and you can be in that range and you can find your best target market that will benefit from your level of knowledge and expertise, so understand that, that it's not about whether you're good enough or you know enough. It's really about whether you can find that market of people who are below you in terms of knowledge and expertise, and skill and train them to get to their next level. That's really all we're doing.
And another thing I would recommend is take a look at some of the other courses that already exist on your topic; do a little bit of research and find out what other courses are out there.
And very soon you'll see that you could do better than some of these other people who are teaching online courses.
You're going to think about it and you're going to go, “oh, I could teach this, that they're not teaching,” or, “oh, I could teach this better by using this process or this example than what they're doing.”
So very, very soon you'll see and you'll start to gain that self esteem and that confidence that yes, you can teach online courses. If you like the online course business and liked the way it sounds, I have an online course fast start kit that's going to give you tips, tricks, and resources to get you off to the best start in your online course business.
That fast start guide should be available soon, so keep an eye out for that in future articles. I'll see you next time.
This is Dave Espino, the InfoBoss. Today I wanted to answer a question I've been hearing a lot, “which is the best website for teaching online or creating courses, which website is paying more now?” It's kind of a loaded question too, because there are really a variety of websites out there where you can publish your online course.
Publishing on a Marketplace – The “Marketplace Model”
If you're talking about a marketplace business model. Then one of the best websites is Udemy. Udemy has 24 million students at this point, and they have this tremendous ecosphere where they bring a lot of people in, they do a lot of marketing and then people find your course through their search engine and that's a great model.
I call it the “training wheels” for the online course business.
There were other similar sites like Skillshare, Skillsuccess, CyberU, Learning.ly, and several other sites like this where you can publish your course on these websites.
None of them hold a candle to you in terms of market reach right now. That can change in the future. If you already have a captive audience of people and guess what?
Amazon, Google, Youtube, Facebook; they already have massive captive audiences. It'd be a no brainer for these companies to launch into the online course business and then watch out. It's going to be incredible when that happens.
My Favorite Method – The Self Hosted Model
There is this marketplace model with Udemy and some of these other marketplaces I mentioned, but there's another way. If you really want to make a lot more money with your online course, use the self hosted model.
That's where you decide to be your own boss, host your course on your own site using either a website called Teachable, Thinkific or even Clickfunnels, and you're able to drive your own traffic to your own course and you can charge as much as you want.
That's a big difference between a self hosted model and the marketplace model. The marketplace model typically has pricing restrictions or they determine the pricing of your courses, which is horrible, right? With a self hosted model, you determine the pricing and you can price as much or as little as you want. Self hosted courses can sell for $67, $97, 200, $297, $597, $997 and $1,497 just to give you some ideas.
That's a lot better than selling a course for $14.99, right? A lot better.
Now You Must Decide
So in answering that question, you've got to determine; do I want to go the marketplace direction or do I want to go the self hosted direction?
The marketplace direction is where you create a course and you publish it on the marketplace and they kind of take over from there. They do the marketing, they set the pricing, they have guidelines and restrictions, and there's competition as well that you have to deal with and that kind of thing. You really leave a lot to someone else.
When you go to the marketplace model. In other words, you have very little control over your earnings other than let me create another course. Let me add another course. Let me add another course. And I've been there. I've done that. I have 52 courses on these various marketplaces, and I can't complain because they give me a good base income that I can then grow.
What Works For Me?
But I make a lot more money on my self hosted courses, and only have eight self hosted courses and at least 10 to one versus the marketplace courses. And I don't have to deal with all kinds of guidelines and restrictions and competition and any of the self hosted. So it really is worthwhile to look at the self hosted business model as the way to go, and if you're just getting started than Udemy is great. I call it the training wheels. For the online course business it's great because you don't have to do as much, but very, very quickly you should get into looking at the self hosted model because that's where the real action is.
That's where the money is and that's where ultimately your full satisfaction and success is gonna come from.
If you were interested in the online course business at all, I call it the world's most perfect business. If you’re interested in the online teaching business I'm launching a brand new online course fast start kit. This is a brand new fast start kit with tips, tricks, and resources to get you off to a fast start with your online course business. I'll be releasing my fast start kit soon, so be on the lookout for the link in a future article! I hope my information helped, and I’ll see you next time.