How to monetize your creative business with online courses?
Have you ever met someone who has the gift of facilitating an online course or a subject in a way that it’s simple, relatable, and makes a significant impact on your learning experience?
Or maybe, besides the instructional gift, the person has a knack for creation?
This person has a lot of ideas, but he or she is in search of the best way to transform those insights into a sustainable project that not only helps individuals but generates income.
In today’s fast-paced society, more and more entrepreneurs are turning to online courses to free up their schedules and monetize their creative business. That’s because an online course is a powerful asset you can leverage to grow your brand, skyrocket your earning power, and help you reach hundreds or thousands of students around the world.
Taking from my experiences, the challenge I faced firsthand was not knowing where to start and how to execute a feasible plan. But learning from some of these course creators did not only give me hope but set the foundation for amazing things I have done in my business today.
If you are someone who has a desire to teach a course, create your own, or monetize your ideas but doesn’t have any clue how, these next points will come in handy when you pursue your next business endeavor.
While in the previous post, I provided you with the best place to take online courses, in this segment, I will focus on how to monetize your creative business with online courses. This when we explore a powerful platform that will give you everything you need to have your course up and running in a heartbeat with no issues: Teachable.
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What is Teachable?
Teachable Academy is a platform that provides a learning environment for creators, writers, bloggers, podcasters, business owners, and more. There you have the freedom to create whatever course you want.
You can set up your school in very few simple steps. On Teachable’s website, you click on “create new course.” Then you fill out a form that leads you to click on “create a school.” That is when the real creation starts. Teachable offers all sorts of support you can imagine, ranging from webinars, video tutorials, and knowledge base.
Provided that you are not on a free account, you can customize your own eLearning environment—including logo, appearance, and payment option—to look the way you want.
A few years ago, I started to play around with it and set up “my own online course.” During this first step, I found it a very intuitive and easy-to-use platform. As a matter of fact, I found the dashboard very similar to WordPress. So, if you are well-versed with WordPress, this will be a piece of cake.
When it comes to money, Teachable offers multiple price plans:
14-Free Trial plan – this is the one I was testing.
Basic plan ($39) – you can have unlimited courses and students, a custom domain, affiliate program, drip content, third-party integrations. But there is a 5% transaction fee. This option accepts instant payouts if you set up Teachable Payments. In addition, payments are done every 30 days through PayPal if you are on the “Monthly Payment Gateway.”
Professional plan ($119) – it offers more advanced features. Besides all the features of the basic plan, subscribers have access to “unbranded website”, “advanced reporting”, and “priority product support.” It also allows for multiple instructors. And the best part is that you can receive instant payout through Teachable Payment or a custom payment gateway.
Business ($299) – It is a robust version of the Professional plan that includes “advanced theme customization”, “bulk student enrollment”, “group coaching calls”, and “20 admin-level users.” It mostly used by people or enterprises with a large number of students and courses, such as Joanna Penn and others.
But to be more specific, here is how Teachable can give everything you need to build and monetize your creative business with online courses:
1. It helps turn your ideas into profitable online programs.
Building an online course can be a daunting task. I’m sure you have enough content creation to do already. The last thing you need to worry about is researching or trying to build tons of complicated tech. That’s the reason Teachable developed a platform like this: to take the guesswork out of the process and assist you from ideation to launch.
Speaking from experience, Teachable is super intuitive and easy to use. You can create the course of your dreams, without any technical headaches or roadblocks. Not only that, but its team takes care of the payment logistics too.
2. It allows for scaling your business with passive income.
With Teachable, you can sell the same courses over and over again, bringing in new customers and revenue without additional work. This way, you can make more money without jeopardizing your already jam-packed schedule.
According to Julie Stoian from Digital Insiders for Life, “I went from creating small, inexpensive courses to large courses that resulted in 5-figure income months. This is the perfect solution for service-based entrepreneurs who want to scale their business.”
3. It allows you to do more of what you love.
With less time spent working and more cash flowing in, you’ll experience more freedom and control over your days. That means more time for yourself, launching another online course, or developing your next big idea.
Thousands of people, including big names in marketing and writing have chosen Teachable to host their online courses, such as Ryan Holiday, Nick Stephenson, Mariah Coz, and Lewis Howes.
Teachable is also known for its Summits, Challenges, and Accelerators, which usually take place in the first and second half of the year. During this event, big names in writing, marketing, and entrepreneurship such as Nick Stephenson, Pat Flynn, Melyssa Griffin, Andrew Warner, Danny Iny, Joseph Michael, John Lee Dumas, and others have shared everything they knew about creating courses, how they built a massive income, and how you could profit from online course creation as well through the years.
Those events are definitely worth checking out. I have participated in previous years, and I left with tons of invaluable information.
With the plethora of options available, it is easy to select the first option that comes up. But with Teachable, you may ditch the guesswork and find different options to suit your needs.
Whether you’re taking or creating a course, this post was meant to give you a better perspective on a reliable source available out there and take the burden off of you. If you can make a source of passive income with online courses, it makes the mix even better.
Whatever path you take, I‘d love to hear your thoughts about your experiences with Teachable or other platforms, if you don’t mind sharing in the comments below.
Do you use Teachable to monetize your creative business with online courses? If not, which other platform do you use and why? Let us know your thoughts.
** This post may contain affiliate links. To learn more, read full disclosure here.