Just how big is the global market for personal development training ?
Check these numbers out: in 2023 it was estimated at USD 48 billion, this year it will go up to about USD 50 billion and in the next ten years it is expected to reach around USD 82 billion! Crazy.
In my time as a business mentor and coach I have worked with thousands of business owners and the one common challenge I encounter with them is: how to balance between passion and profit, or said another way - how to do what they love while making consistent cash-flow from it.
I have gladly helped some of these business owners develop very powerful training courses related to their business, with the courses bringing them as much as $100,000 plus in revenue every year.
Creating your own training program or course based on your area of expertise is a powerful way of having a part of that USD 48 billion pie, impacting thousands with your passion and still having a source of consistent cash-flow to manage those pesky daily expenses.
This is one of the most underrated business models amongst startups and yet it is so lucrative.
That's why this month I will be loading step-by-step instructions on how YOU can create your own powerful training course alongside running your own business and make more money. By the end of it all I will have shared with you a detailed blog, a powerful e-book and an informative video.
And yes, for the exclusive ones who would rather have a 1-on-1 paid training with me on the same,
feel free to reach out to me via DM (Direct Message) on any of my social media platforms (Jan Okonji) and I will be glad to walk with you on this journey.
Here is my proven comprehensive formula in one picture:
Our starting point is to appreciate that we need to develop a training course and we need to develop it for 3 main reasons:
PASSION - we need to develop a course that aligns to what we already love and know
PURPOSE - we need to educate and train many people on our knowledge for impact
PROFIT - we need to have a business model that meets our daily expenses
Once we understand this and have this clear in the vision board of our mind the next step is to structure our approach for our training program and we did this is a series of 10 steps:
Niche - figuring out who we are going to train and developing a customer strategy for them
Outcomes - developing a clear map of how our customers will gain success from our training
Content - creating video, documents, templates, outlines, posters, logos for our courses
Platform - identifying and uploading/ using the mediums that work for our training
Pricing - segmenting and productizing our content with accurate money value
Marketing - developing a strategy to have annual demand for our training course
Sales - formulating a strategy to convert clients to readily buying customers
Monetize - crafting financial growth targets for our training programs
Feedback - getting regular reviews from customers for improvement
Scaling - adopting platforms for a wider global audience
Here is a comprehensive breakdown on each of these steps:
1. NICHE - Focus Specifically on Your Target Audience
First and foremost: You cannot cater to everyone. The most successful online courses are those that directly address a particular group of people. Identify what you excel at more than anyone else. It could be expertise in a specific software, beauty and make-up, relationships, dieting finances, health & fitness, wellness, spirituality, career coaching, animation, cooking, vlogging, photography, music - you get the picture, the list is endless.
Consider who needs this knowledge. Who is facing challenges that you can help overcome?
This is where you need to concentrate. Avoid generalities and focus on specifics. The more specialized you are, the more you will connect with your audience. Once you find the perfect niche, your course will practically market itself.
Pro Tip: Utilize tools like Google Trends or AnswerThePublic to understand popular search queries. Engage with Facebook Groups or Reddit communities where your target audience is active, and pay attention to their needs.
2. OUTCOMES- Define Clear Learning Objectives
Now that you have identified your target audience, it's time to think about the transformation you are offering. What will your students achieve by the end of your course that they couldn't before? Be precise. This is not about including everything you know—it's about delivering tangible results.
Break down the skills and knowledge required to reach that goal. These will form the basis of your modules, lessons, and valuable insights that will guide your students from one point to another.
But even more importantly, document and be able to demonstrate the success journey to your potential clients in a powerful and diagrammatic manner. Give the a roadmap of how their life improves, by when and by how much should they take your unique course.
Pro Tip: Use Bloom’s Taxonomy to categorize your educational objectives and tools like Miro to visually outline your course structure.
3. CONTENT - Develop Your Course Content Professionally
Content creation is where the real magic happens. This is where you transform your knowledge into engaging, actionable, and valuable lessons. However, avoid improvisation. Choose the best format for your content. Are you comfortable on camera? Consider video lessons. Prefer writing? Maybe an eBook or a series of articles would be suitable. You could also combine different formats to keep things interesting.
The key is authenticity. Address your audience as if they are right there with you. And most importantly, keep your content engaging as well as educational.
One way of enhancing your authenticity is to freely, continuously and consistently put out content across your social media platforms that tie in with your training program. Give out 3 powerful pieces of content for free before asking people to sign up for your training content. Educate, inform, entertain and empower your audience on social media such that when you put out that call for people to sign up for the training they are already sold to your product.
Pro Tip: Invest in a good microphone and camera if you opt for video content. Tools like Loom for screen recording or Canva for designing course materials will enhance the quality of your course.
4. PLATFORMS - Select the Appropriate Platform for Your Course
You have put all your heart and soul into creating your course—now it needs a platform.
Choosing the right platform is crucial. Think of it as choosing the perfect storefront for your digital product. Platforms like Teachable, Thinkific, or Kajabi offer a range of features to meet different requirements. Whether you prefer user-friendly interfaces or robust marketing tools, there is a platform that suits your needs.
Set up your course, create an attractive landing page, and ensure that your payment methods are secure and user-friendly. This is another area businessowners struggle with - setting up channels that allow friendly a UI (user interface) and UX (User experience) around accessibility and payments of virtual or online learning courses - so please don't overlook this part of the process.
Pro Tip: Do not rely solely on one platform—diversify. Consider hosting your course on platforms like Udemy or Skillshare to reach a wider audience. Also feel free to mix up your delivery with hybrid solutions - both virtually and physically. This is something I do often as well.
5. PRICING - Perfect Your Pricing and Sales Strategy
Once your course is ready and live comes the crucial part that distinguishes amateurs from serious entrepreneurs: pricing.
What is the value of your course? It's not just about covering costs—it's about recognizing the value you provide and pricing accordingly.
Consider offering tiered pricing or payment options to make your course accessible. Do not hesitate to upsell! Provide advanced courses, personalized coaching, or additional resources to enhance the value of your offering. Here is a pricing model I developed to assist you as a start out:
Pro Tip: Here is a pricing model I developed to assist you as a start out:
6. MARKETING - Market Your Course Effectively
You have a great course, but if nobody knows about it, it won't make an impact. Marketing is where you need to be proactive. Start by building anticipation with a pre-launch campaign. Tease your audience, offer early-bird discounts, or host a free webinar to showcase your expertise.
After the launch, maintain the momentum with consistent content marketing, social media engagement, and possibly a paid advertising campaign.
Pro Tip: Platforms like Mailchimp or ConvertKit are excellent for managing email marketing campaigns. Social media scheduling tools like Hootsuite will help you maintain buzz without burning out.
7. SALES - Perfect Your Sales Strategy
When refining your sales strategy, it's essential to shift from merely presenting a product to creating an irresistible offer that motivates people to make a purchase.
Begin by developing a compelling sales message that clearly articulates the unique value of your course. Emphasize the transformation your students will undergo and the advantages they will enjoy. Additionally, consider enhancing value through strategic upsells such as advanced courses, personalized coaching, or exclusive resources that enrich the learning journey. I have detailed this in my previous pricing model matrix in Point no.5.
Don't limit your efforts to a single sale; strive to establish a rapport with your customers that fosters repeat transactions and sustained engagement. This is where a Keep In Touch (K.I.T) Strategy plays a critical role.
Pro Tip: Use established copywriting frameworks like AIDAS (Attention, Interest, Desire, Action, Satisfaction) or PAS (Problem, Agitation, Solution) to craft a compelling sales pitch.
8. MONETIZE - Generate Revenue Beyond the Course
An online course offers opportunities beyond a one-time sale. You can continue to monetize your expertise in various ways. Consider affiliate marketing, where you collaborate with others to promote your course for a commission. Alternatively, create a membership site offering exclusive content to a dedicated community.
Do not overlook the corporate sector—businesses are always seeking quality training materials.
Consider also developing curated and high end courses for other segments smaller groups but more valuable groups like: emerging high value startups, thriving SMEs and 1-on-1 training for HNW (High Net Worth) individuals or groups.
Pro Tip: Explore platforms like Patreon or Mighty Networks if you wish to establish a subscription-based model around your content.
9. FEEDBACK - Keep Growing Your Business
The journey does not end once your course is live and selling. It is just the beginning. Gather feedback from your students, refine your content, and strive for continuous improvement. As your reputation grows, so will your audience.
From the feedback you get from your customers you will be able to create new courses and diversify your business income further. Just make sure that you strike a balance between expansion and exertion - use Automated solutions and Ai to help out with this.
Pro Tip: Use tools like Zapier to automate repetitive tasks and free up time to focus on essential aspects of growing your business.
10. SCALING - Keep Growing Your Business
When it’s time to think big and scale your efforts, dive all in. A good training course peaks between 2-4 years and after that either falls and stabilises in terms of reach or just expires altogether.
So expansion and evolution of your training program is a non-negotiable.
Expand your offerings by creating additional courses that complement your original content, allowing you to reach new audiences and deepen engagement with existing ones.
Again, automation is your best friend when scaling. Streamline your marketing, sales, and customer support processes to handle increased demand without overwhelming yourself is the secret. Look for strategic partnerships that can amplify your reach, whether through collaborations, affiliate programs, or joint ventures.
Pro Tip: Here are some tools you can use to you expand your training courses even further -
ActiveCampaign, ClickFunnels, Thinkific Growth Tools, ThriveCart, Intercom, AffiliateWP and
Salesforce/HubSpot CRM.
IN CONCLUSION
If you possess valuable knowledge, it's time to take action - develop your own unique and powerful training course for your loyal following. They deserve it and you deserve to stop struggling.
The demand for online education is rising, presenting a perfect opportunity to get started. Remember, you do not have to do it alone. Whether you seek mentorship, guidance, or just a push in the right direction, I am here to provide the resources and tools to support your success.
Your expertise is valuable—capitalize on it. Transform it into something that not only enriches others but also generates a steady, scalable income for you. So start today.
Side Note: This month look out for my e-book and feature video on how to kick-start your own successful training course + make sustainable cash-flow while at it.
About the Writer
Jan Okonji is an entrepreneur, speaker, coach, and Founder of the Pan-African accelerator BGS – Business Growth Solutions.
He is passionate about helping employees transition safely into entrepreneurship whilst turning their great ideas into profitable businesses and has helped entrepreneurs collectively grow their revenue to over $ 10 Million in the course of running BGS.
To contact Jan for Mentorship, Coaching, Training or Consultancy services as a group or 1-on-1 drop him a line on our contact page, email him on info@bizgrowth.club, Whatsapp +254 743 541 281 or send him a direct message on any of his social media pages, Jan Okonji
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