Alright, first up, let's talk about, uh,  the five steps real briefly  and then we'll dive into a bit more detail in each. So first up is kind of creating a nice, big, long list  of things you could, and you want to teach. Then it's looking, if you've got an existing audience,  you may or may not have an audience already. Uh, then it's looking at how popular that course is. Okay? There's some methods of working out that.

Then it's checking, uh, how profitable that course is. And that's, that's the one you came for. And then there's a way of just deciding a method  that I've got to, to decide to make some final choices. So let's step through all of these now in a lot more detail. Okay. So step number one is the big list.

All the big list is, is just listing out every single thing  that you think you could teach or want to teach  or got an idea to teach. Um, if you're brand new, just just all your skill sets,  all the things you think you might want to teach,  everything, just get in a nice big, long list. Don't worry. Just, I find it's really useful  'cause it kind of gets it off my plate. Like I, I see things, I'm like,  oh, that would be a good course. Or, I see these things and then I have all these ideas  and I've, I just create a nice long list  and I keep adding to it over time.

And yeah, just build it out. Once you've got a big list though, it's not all that useful. So we need some sort of way of organizing it. Um, and I'll share with you my method,  the kind of a one method. I'm not sure if I made this up  or copied somebody else, I'm not sure. But, uh, basically it's a way of going through  and just adding a letter to the beginning.

Okay. Either A, B, C, D, or E. And then adding a number after that. 1, 2, 3, 4, 5. Okay. So I use those numbers and letters  and basically I go through every course  and I say this one is, uh, an A one.

An A one would be something that I think is a gut feeling,  is an A, it's a like man, this is a heart, this is good. I wanna do this one. Just a gut feeling. And after it, it is the number. Okay? So in this case it's a one.

It means it's quick and easy to do. It's gonna take me a couple of days, okay? To kind of outline it and get it going. Yours might be shorter. Your A ones might be longer. Um, but that's it.

Good gut reaction. And then I think it's gonna be quick to do. Okay? Uh, and a say an A four would be something  that I think is really good,  but it's gonna take me a couple of weeks  to make kind of full time. This is using my methods. Yours might take longer or shorter,  but if I'm looking at something like one  of my A ones is the My Photoshop course.

Okay? It's super popular, it's a bit dense. There's lots of people doing it,  but I feel like there's room for my course and,  and it's gonna be a four  because it's gonna take a lot, a long time to make,  because Photoshop's quite a big product. Now, if it was something like Adobe xd,  which is something I've made a course on, I think it's an A  because it's super awesome and new  and people want to learn it  and there's not much competition out there,  but it's gonna be like an A three or an A two  because it, the product's just not that complex. So I know that I'm just  gonna run outta things to talk about. It's gonna probably for me be a, like I,  I cut my courses into nice little short  Sections.

It's  probably only gonna be, uh, about, you know,  20 or 30 videos. Whereas I know Photoshop it's gonna probably be 200. Okay? I'll probably break that into two courses. But I guess that's, that's the idea. Okay.

How good do you think it is and how long it's gonna take. And basically you start with the A one. So I'll show you what I, I'll show you one of my lists just  so you've got an idea, okay? So go through number them all  and then just kind of reorganize them. So all the A ones are at the top and a twos and a  Threes And um, yeah, I'll show you a little screencast,  uh, here of kinda my running list. Alright, so this is my list, right?

It's just my new ideas course list isn't a Google doc,  it could be in a Word doc. It's not very, flash is a tool,  but I just go through, list all my courses  and then number them like this. So this is my like, current existing one. The, the ones that are grayed out are ones  that I've already done and completed. Okay? And let's say these are the ones that are,  these are the kind of ones that I've thought I should do,  um, recently  and I just kind of add them to the bottom of the list.

Let's say now it's time. I've finished my last course  and now it's time to decide on the next one. So let's say we're gonna add this one to the list. So I look at it and I go, my gut feeling says you my friend  or a B based on  no real science other than I think it's new, which is awesome. It's in an area, um, UX design, which is really popular,  but it is the small fry of the group in my humble opinion. So I'm like, it's pretty good.

It's not up there with my As,  but it's definitely something I should look at pretty soon. Then I add how long it's gonna take me. And I feel like this one's like maybe a two, maybe a three. I'm halfway in between those ones. But, and I base that purely on  how long I think it's gonna take me. Always takes longer.

But envision a studio is a new product. It's not gonna have a huge amount of features, I presume. Okay? I use a lot of competing products to this one,  so I understand the language. So that's not gonna be a big jump from me,  but I'm gonna have to go through and really study the tool  and use it for a couple of projects. So there's, it's gonna be a bit  of time getting this one going.

So there's my B three and I just grab them then  and I go, you my friend cut. Uh, yeah, you're in the B threes. And I go through all of these new ones. And then basically when I'm doing it as well,  I read through my last ones. 'cause sometimes I don't know, now I'm like,  uh, Adobe Spark. Okay, I am thinking you are, it's done a big jump for me.

I'm thinking it's awesome, but it's really  easy to teach yourself. So I'm thinking, okay, maybe the course isn't that,  you know, it's not gonna go high up on my list,  so I'm gonna put it down with DC twos. Okay? And I just kind of rejigged this  and this gives me a kind of a,  at least some sort of order go. Let's do these ones first. 'cause like the A ones often have a low value in terms  of they're quick, they're easy,  but often there's a lot of competitors.

And, but they're easy to do, they're quick to do. They often aren't as profitable. We'll do profitable later in the course, but I do them okay,  because they'll only take me less  than a week or a couple of days. And then I pick off a couple of big, like a threes. So, uh, my next A three looks like it's  going to be one of these two. Okay?

So it's gonna take me a reasonable amount of time. Uh, but it's in the high priority. It's gonna take me probably two weeks to do. I do have a fours and fives. Okay? I kind of cut this list down because my list was super messy  and I'm trying to impress you with my clean list.

Often. There's lots, a bunch of notes under here  that only makes sense to me. I kind of have all these scribbling, so I just tidy it up  to look nice and that my friend is step one,  get a big long brain dump of a list,  then get them in some sort of order. So now we can take say all of the A's  and do the next part of the test  and go, do I have an audience for them? Then I can say how popular it is, rather than just guessing. I can check online, then work out how profitable,  and then they might end up winning.

They too may become dark gray because I've done them. Let's move on to the next step. Step number two, do you have an existing audience? Now, avoid this one at your peril. Ask me how I know. Uh, for a long time, especially at the beginning,  I had like my big long list of courses  and I was trying all sorts of things, even though my,  my audience, okay, it was only small.

Okay? Um, just the, the areas that I was involved with. I knew some people in the industry. Kate was all always in the kind of like graphic slash  ui web design area. That's my kind of scene. So I ignored that and I did a Microsoft Excel course  and how to start a business online  and SEO and all sorts of stuff.

And, uh, it wasn't until later on  that I've slowly over time,  it's about three years on now, right? Since I kind of started this online training thing. And I now know, like if I go back to past Dan  and explain, uh, you know, stick to your knitting, stick  to the, the audience you already have, it's so much easier  to sell to  or at least identify with the audience you already have. If you are brand new and nobody knows who you are  and you wanna surprise them  with this new course, that's okay too. But look to see what communities you are already part of  or Facebook groups  or if you don't have any of that,  then sure you can pick a new direction. But if you're involved somewhere, stick to that area  because it has twofold kind of, um, helpfulness.

Um, one is that a, you've got one person  that you can reach out and say, I've got a new course,  can you give me a review? Okay, it's better than zero people. Um, but also that as time goes on, you ask any trainer  that's doing, doing well, it's  so much easier now like three years on selling courses  because my audience is built up and it's in the same field. Okay? It's all in this kind of like, creative it field. So when I make a new course, it doesn't instantly sell,  but yeah, there's like, even if it's a terrible course,  it still sells not okay,  but there's always, there's always some sales  because I have an audience, they know my other courses,  they, they like what I've done in those other courses.

So they're willing to take a risk on this new course. So, uh, check your audience, do you have an audience? And then kind of make sure, like if you do have an audience,  circle those courses on your list  and say, let's just do these ones  and let's exclude these other kind of, I don't know,  outlier courses for the moment. Let's stick to kind of our area of expertise  or at least where our audience lives. So let's say you have an audience, it might just be,  you've got a couple of Twitter followers  or some Instagram followers. Ask them and ask them what they would like to see.

You might curate it. So you might say, I'm looking  to do these, you know, potentially these five courses. What do you think? Okay. And, uh, it's amazing. Like you often you get stuff like, oh yeah, like,  like people will give you responses  and you're like, that's, that's reasonable response.

I was expecting that. But sometimes you get some oddball  ones and you're like, actually that's a real good idea. So that's a good thing. The other thing is that if you get a bit of a,  it might just be an overwhelming, like,  I've been avoiding doing a Photoshop course for a long time. I did it for, you know, I just looked, there's  so much other good stuff out there. I'm like, can I really compete?

You know, it's saturated market. Should I even do it? So I've kinda left it late,  even though everyone said you should do a Photoshop course  and it's just release and it's doing amazingly. Like, I'm like, geez,  I should have done this like two years ago. But I ignored them and used my own silly advice. Um, my internal head said, don't do it.

So ask your audience  and you know, I guess a little bit measured,  but like, do what they want. 'cause the cool thing about it is  that once I started asking people,  should I do this Photoshop course, I, I do a, you don't have  to do this, but what I do is I actually make a short video. It's just like a, a screencast. So simple, just a voiceover. And I just show examples. Not even my examples of what I'm looking to do for a course.

Like this is the kind of vibe. It might just be verbal, okay? You might use Pinterest just  to kind of show what you're doing. And I send, uh, I make a little YouTube video to say,  what do you think audience? Okay? And you share it wherever you need to.

And, and often I'll get a couple of things. One is they'll tell me which one they like,  but also they'll tell me things that I might be missing. Okay? I even share an outline, okay. Of courses that I'm potentially gonna do  and ask people to kind of fill in any blanks. So I get a bit, maybe a bit hardcore about asking  what the course should have.

You can do something, don't get overwhelmed by it. Just, it might just be a text. You know, pick AB or C,  which course do you think I should do and why? So asking your audience  what you should do is a super good thing to do. So how popular is the idea that you've got actually? And so I'm gonna throw you,  so you three little tests, right?

Keyword tests, testing on marketplaces, there's ways  of checking how popular a course is,  and then on those same marketplaces, checking to see  what competition there is and the quality of it  and whether you think you can fit in. So we'll cover those three steps now in a bit more detail. But basically it's so that like I have assumptions,  I might be like, okay, we've got three courses, uh,  that I want to do next, potentially, uh, this one here,  super popular, super popular, not so popular. Okay. And I'll do a test  and I'll realize like, hmm, uh, option number one wasn't  as popular as I thought. Okay?

Um, so it's just a good way  to kind of test your assumptions. It's quick, it's easy to do. Um, but also know that this kind  of popularity is only gonna give you data on courses  that are already popular. So if you've got an idea for this like brand new niche, uh,  uh, training course that you wanna make, uh, go ahead  and, you know, ignore this, but,  or at least use, just see what kind of, you know, what kind  of traffic out there might be for your course. I was looking at, uh, I was just looking there on,  I was trying to find stuff that was maybe not very popular  but was still doing well in selling well as a courses. And I found like some tomahawk fighting, um,  training courses doing really well, uh, how  to make a hipster surf logo.

Like really kind of niche stuff  that you won't find much data through keyword research. So use this as a kind of a, a test to, yeah,  it just helps along this process  of deciding what course to do. It's quick, it's easy. We'll  jump on the screen to do it now. Alright, so let's start with the uh, testing,  like the volume of searches per month that you have  through something like Google. So what we're doing here is we're at search volume.io.

I picked this one because it gives pretty good  results and there's no login. Just super quick and easy to use. There's another couple that I really like one for Moz, okay? And they call it the keyword Explorer,  but you need to sign in  and you only get 10 per month of searches  unless you've got the pro account. AdWords is another one. Okay?

AdWords, it's called the Keyword Planner. They all do a similar sort of job. Keyword planner is the most hassle to get signed up,  you need to sign up with AdWords. You don't have to pay for AdWords,  but you can use their keyword planner. Once you've signed up, you just click on this little, uh,  what's that spanner and go to the one  that says Keyword planner. But let's use this one 'cause it's quick and easy.

So I'm just gonna paste in all the potential courses. Let's say I'm looking to do one of these Adobe courses next. I'm not sure which one, but I'd like you to help me. It's click submit and you can see there's a clear, uh,  popularity winner Photoshop course. Okay? It is by far, this is monthly searches through Google.

Okay? So 300 and 320 people in the US we're searching  for this specific word per month versus say Premier  Pro, which is 10. So it can just be a nice little thing  to say actually I don't realize Photoshop is way more  popular than any of the other products  that I'm potentially gonna do. You'll have to play around with a language,  I've used the word course,  but it might be Photoshop training, maybe learn Photoshop. So play around with a few different phrases as well  as the topics to get a sense of  what you might call the course as well as  what course is potentially more popular, right? The next thing you can do for testing the popularity is  to actually check on the marketplaces  that potentially might resell them for you.

Even if you've decided you're not going  to sell your courses on something like Udemy  or Skillshare, it's a really good place  to test the popularity of a topic. So, uh, sign up for Udemy. Okay, you can see it up here. Um, you don't have to have a course yet. Just sign up, get into this instructor dashboard  and this little tab here is pretty magic. Click on Marketplace Insights  and without even entering a topic, it tells you down here,  these are the promising topics  that they would like courses for.

Um, so past lives, I dunno,  what do swarm is, I know what aviation is. SAP accounting, I know where it is, dunno what that is. So you might get here and go, man, I am  so gonna teach a course about past lives,  something you're passionate about. And what Udemy have said is like, we have got, uh,  an average demand,  but low courses, what I'd be looking for is high demand,  low courses, but that's fine. Okay? But it's just a really useful tool to go in  and check what, what do you want?

What are they missing? What are people looking for  that they don't have a good course on yet? So what I'm gonna do though is I'm gonna cross on this past  lives and I'm actually just gonna type  in, let's say InDesign. There it is there. And in terms of an InDesign course, okay,  'cause it was one of my topics, there is a high student  demand already, which is good,  but there's a higher amount of courses,  which is, which is there. So it just gives you an idea of like, uh,  demand verse is supply come down a little bit further  and you can start to see like what part  of the year people are searching for.

In design I guess is gonna be kind of all year round. You might be looking at something a lot  more kind of topical. So some, some useful uh, search volume trends in here  that might be useful for you. What I find as well really useful down here is other topics  of interest just gives you things that people  that are searching for InDesign in this  scene, these are other things. And like color theory is one of you. You might've seen it on my list  'cause I reckon I can make a good color theory course.

And if you look at it as a topic, if this page ever loads,  it says this topic is a great opportunity,  high demand, low amount of courses. Um, so I find this market insight super useful to run all  of your topics through and just see, you know,  Photoshop versus Illustrator versus uh,  InDesign versus Premier Pro. What's the supply versus demand? Like let's say Udemy's not your scene  or not the not where your people live. I find Skillshare for my courses are where my peeps live. And what I find useful is say I've got a course  and one's about, let's have a look.

So I'm in generally in the creative zone, okay,  this is my world, but let's say I'm gonna do either a UX  course, I'm gonna click on UX ui. You can see this has 150,000 followers of this topic. When people sign up to Skillshare, they kind of have  to tell Skillshare like, this is what I'm into. So this many people have followed this topic. You can see, hey, one of my courses, one  of my courses, one of my courses. So I've done a few UX courses, so 150,000 people.

But let's say I wanna, it's competing  with say something more in the general graphic design,  say it's in design, you can see a lot more people are  looking or at least identified themselves  as graphic designers. So it's not science, it's just an interesting thing  to think, okay, if Skillshare is my people  and where they live, more people are looking  for graphic design courses here than UI and UX courses. And I've found that absolutely to be true. So my graphic design courses do a lot better here on  Skillshare than my UX or UI courses do. Now we've used Skillshare here  and Udemy, they're quite big players in the scene. But you might be doing something different.

So Craftsy might be your world Pleura light might be  what you are doing might check linda.com. There's lots of places to go  and see what's popular in those areas  and what people are looking for. Each little place has their own hacks,  but I do find Udemy probably the most specific about  what they want and like giving you an idea of demand. So the last thing to kind of check the popularity is  to check what competing uh, courses are out there  and see how yours kind of stacks up. So what I like to do is in Chrome gotta file  and go to new incognito window just means it's not gonna be,  uh, often when you do searches, uh, from a regular window,  it will remember the last thing you searched  and gives you results based on your search history. So this one here, using incognito just  gives you a clean slate.

So let's just type up here. Well we can go to Google. Let's just go to google.com  and let's just have a look for Premier  Pro Course. Can't spell Premier Pro. Did you mean I did. Okay.

And what I do is I ignore the ads, anything that says add  and just go down here and just start to see. Um, I'll click through a few of these links  to see is there other courses out there. First of all, so am I playing in a crowded room  and if so of this crowded room,  how do I feel like I can make a course? Am I gonna add more value  to say the top 10 results here if I  got it to appear on Google? Or is my course just gonna be lost in the wash? Doesn't mean you shouldn't do it,  but it's just a nice way of checking.

Like I've done courses where I assume  that my course is going  to be a little bit worse than everyone else's  because ah, I'm intermediate edit  and I reckon I could add value  but there's probably gonna be better courses. But then I go through and I check some of these  and I'm like man, my course  would actually hold up pretty well. I'm not saying that about Premier Pro  here 'cause Phil E is here. Phil e is awesome, but it's just a good search to do. Now you do it within Google, you also do it  within the marketplaces. So if I go to udemy.com, so I'm not logged in,  I'm using Incognito again and what do I wanna learn?

I wanna learn InDesign, click return  and just see what courses are available. And the cool thing about using Udemy to check is  that they have a rating system. You might find that there are lots of courses here  but they're not getting good ratings. You can see the ratings here. You can see my smiling. I like to say you've been design 'cause I like  to see myself appear, but you might decide, you know,  you might do a course and you might look at them  and you're like, actually the ratings are really low.

So you might think, okay, so there's lots of courses  but the ratings are really low. So how can I make my course rate better? Or I think yeah I can add value to this topic  and it will rate high more highly than the other ones. So that can be super helpful for me. Sometimes I go into one, I'm like man there is a lot  of courses like my illustrator course I love making the  illustrator course and I did it. But there are already really good courses  that are doing really well.

Like Martin's here, his is a super awesome course. Mine is rating, where is mine? It's down here, my course. Okay because there are other courses  that are rating really well,  they deliver an amazing result to the audience. So it can just be helpful to go, hmm,  this topic is stuff full of awesome courses  with really high ratings. I might use the other topic that might be stuff full  of courses that have a lot lower ratings.

Same thing on Skillshare. Okay I jump in there, I type in the course topic  that I'm looking to teach and just see  what courses are showing up first Skillshare decided  that these are the best results and how do I compare? Does it have good ratings? Is it well produced? Do I think I can add value? So that's it for popularity.

Throw a few of your courses into the popularity test matrix. Remember just doing a simple keyword search,  then checking something like Udemy Insights  and then in Google or in Udemy checking what kind of courses  are in there already? Can I compete, can I add value? And hopefully that'll give you a better understanding of  what course you might pick. Next  Step number four, profitability. So profitability bit at that time.

Um, if you are looking for working out, you know,  what kinda money you might get. Like it's obviously not an absolute science,  but I find three kind of ways of working it out  that have proven to be reasonably close in terms  of you know, what you actually earn. So, uh, Udemy have a really good  system using their insights. You probably caught a glimpse of that earlier on. It's the first one and probably the clearest,  like this is how much you might earn. Um, the other one is a basic calculation you can do if  you've got an email list.

Okay, uh, there's a, yeah, there's a kind of a tried  and true calculation  and then there is looking at the lifetime value of a student  and that needs to be kind of factored in as well. So let's jump in to look at Udemy insights first  Now udemy.com. Remember you sign in as an instructor  and you click on this tab up here it says  Marketplace Insights. Now this is gonna give you a reasonably accurate kind  of income, uh, average, especially if you're going  to actually sell your courses on this marketplace. Now I sell my courses on my own site hosted by Instructor HQ  who might be using Teachable or Thinkific,  but I also sell my courses here on Udemy. So this is gonna give me a reasonably accurate estimate  on bottom of my own.

So I've typed in InDesign here  and down the bottom here you can see  the median monthly revenue, okay  for all the courses is about $56. So you can look at that and go, hmm,  is this course gonna be worth like 700 US dollars  a year for me to make? How long before it's outdated  and do I think I can get close to this top monthly revenue? Now the cool thing about this top monthly revenue is  that's actually what I'm earning. I'm the top selling course. So that's what I'm earning from my InDesign course.

When I first looked at this before my course  before I realized there was like a potentially a space at  the top for me and it was like at about $2,900 monthly. And I still was like man, that's awesome. I want part of that. But now  as my ag courses have been in there,  they're doing a little bit better than the last ones were. So it's pushed this top monthly revenue up. So when you are looking at it  and say it's really kind of a new area  and the top monthly is low, it might be just  because you haven't arrived yet.

But what you can do is you can go through  and say, okay, so medium monthly and the top revenue  and just compare the different courses. So that's my InDesign, this is me searching for Photoshop. You can see the monthly revenue's lower  because there's so much more courses out there,  but the top revenue is a lot higher. This is not me, my course is actually just finished  and I'm gonna release it and I'd love  to be anywhere near the top of this. So do us some basic calculations. Take the median times it by 12.

Take what you think you might get, what you aspire to be  and times that by 12. What can you get for a monthly  return on these different courses? It's surprising sometimes as well. Like I did the illustrator one  and it's high ups, like around eight grand a month  for the top revenue, which I felt not surprising now  that I know, but when I was first looking at doing the  courses, do I do InDesign or Illustrator? I did Illustrator because it had a lot more upside  and I was happy enough to make either of the courses. What you'll also find is I was typing in Photoshop here  and watch, I started typing Photoshop  and Udemy says, well what about Photoshop retouching?

I click on that and that specific kind of sub genre  of Photoshop that didn't appear, come here, Photoshop  retouching, click on 'em properly. There he is down here you can see higher monthly median  but the top revenue's a lot lower. So now you might double back to the popularity  and just Google and search in these marketplaces  what courses are available. Do I think I can do better and maybe raise this revenue? Because the cool thing about Photoshop retouching is  that it's a smaller part of the larger Photoshop course. So for me it might be easier to make a course  that takes a week  to make rather than the full Photoshop one,  which took me like three weeks.

And if I'm honest, probably four. But I want some of this doesn't have to be the top,  but some of it would be nice. So that's probably the easiest to way to kind  of calculate any sort  of revenue on a topic I'm using quite software heavy ones. Okay, you might be in more soft skills, Kay. You can type them in. There's lots  of options in here you can type in  and it will give you what the revenue results are.

Let's look at the other way to calculate potential profit. So another way to work out  what you potentially might earn from your effort from a  course is a method a lot of people use in terms  of converting your email list that you might already have  into paid customers. Obviously this only works if you have an email list. I do, I have quite a big email list. Okay, I have 13, well big, I think it's big  13,000 people I have on my email list. I use MailChimp to store 'em all  and send them notifications of my new courses.

You might have only 1000 true fans or two true fans. They might be your mom and your nana. They're the first people to like my Facebook  posts every time. And you might have heard from other people, like you need  to build your email list and you're just  like, I'm not sure why. This will hopefully show you how it can work. Like once you've got an audience that likes  what you're doing, you can do a bit of math here, see  what you might be able to earn from those new courses.

So 13,000 people I've got on my emails. The problem with my emails is  that it's not a warm list I wanna say. Uh, I've got lots of lead magnets they call them, okay? Where people like say you do some of my free YouTube videos,  I have a place where you can come  and download the exercise files or a cheat sheet,  but it's kind of an email gateway. You love them, right? You get there  and you're like, ah, I don't want my email address.

And so that later on I can say, Hey, I've got this course  that's in that same sort of zone of  of the cheat sheet you downloaded. So I've got my email list, it's big but it's watered down. So the conversion rate. How many of these people will actually convert into paid  customers If you haven't done this  before, any sort of email marketing, it's sad. People say it's between one and 3% will convert. Or at least that's what I've heard from people  that are doing a lot better than me.

That's not been my experience. I have a conversion rate of maybe half a  percent, which is not cool. So mine's, uh, that's the decimal places for half a percent. If you're doing one, you can type it in there. Two, three, okay, but mine is 0.5 half a percent  and I know because I've done it and I've checked it  and that's why of those many people about that. Many people actually buy the course.

You put in the price of your course. Most of my courses end up being about 10 US dollars if you  wanna buy them from the various places I sell 'em. So the total, you can do this on paper  and a calculator I'm gonna do, I'm doing in Excel,  you can do it in Google Sheets or Mac as numbers, anyone. So up here in my little formula window,  I'm gonna add equals it gets my little formula going  and I wanna say U times U you can kind  of see at the top here at times is the asterisk. So this LB six times my conversion rate,  I'm just gonna return here that, so about 65 people  of this 13,000 actually buy the course. Now all I need to do is I'm gonna click in here.

I want these people, I'm gonna put it in brackets. So I want this total, which is my 65 people. I wanna times that by the price of my course  and that my friends is about 650 bucks. And I've found that to be true. I make a new course, I send it out to my emails,  65 people buy it at 10 bucks a pop. And that email makes me $650.

Now I'm in a specific sort of world  with my kinds of courses. They're, they're quite commoditized. So that $10 works for me  and in other areas people have really good,  like say you only have a thousand people on your list,  but let's say you do have that magical  3% conversion rate pretty high  and your prices for your course  though are a thousand dollars. Okay? You've got, um, you've got webinars involved  and all sorts of other things going on. So you can kind of see, you can enter different details  and decide now whether it's gonna be worth it for you at  that price point without amount of people.

This is the magic one that you won't know until maybe  after your first email in your first course. But if I was you, I'd guess low  and be surprised at it being high. I hear people in podcasts that are trainers  and they are doing this prices at a thousand dollars. They've got a really high conversion rate  and they're making like half a million. I don't know how many emails you need to be half a million  and another zero there. What do you get?

We get close to it. So these numbers are attainable by people that aren't me. I find the $650 mark is probably really realistic. I need to work with ab testing my emails  to make sure I'm got the right language  and maybe pricing it differently to earn different income. But one thing with mine, and  that's why I've got these down here, is  that I have a monthly subscription. Okay?

So my course that I host on my own site  through Instructor hq, I have my,  my courses are about $10 per month. So that's 650. I'm actually gonna undo  and go back to how I had it. Okay? So that's gonna be my monthly, total monthly,  this will be my annual one. Okay?

So I'll take that total and times it by 12. So that's where my courses start doing well, okay? Over the distance. They last about two years  before the software needs to be redone and updated. And once you start getting into multiple courses,  like I have about 20 at the moment. Like I'm not, not earning multiples of 20 of this.

'cause some courses just don't do that well. But it does get up there. And the other note down here is relaunching. So we talked about some of the unicorns where they,  you know, they've got 10,000 people on their list  and they're selling their courses for a thousand dollars  or $200, just something a lot higher than my little $10. What they often do is they'll have like  two launches per year. So they're gathering email addresses all the time  and they're sending out an email every couple of weeks  or every couple of months.

So you are $650 can add up if you're sending out an email  every two weeks or you've got some good lead magnets  that are drawing people in and getting their email  addresses, it might be through a Facebook group. This kind of math holds true not just for emails,  but for say an audience. You find your audience  Conversion rate and then you work on prices  and it can give you some basic math to work from at least. Alright, let's look at the last part of profitability  and let's jump to real Dan. Alright, real me again. Um, one thing to consider when you are the last thing  to consider when you are testing the profit, the viability  of a course or profitability.

And especially when you're thinking you're right at the  beginning and you're like, is this thing for me? Is it gonna be worth giving up my job or my freelancing? You know, 'cause there's a lot of work involved. The the big thing to consider  and include in your math is the lifetime value of a student. And what happens, uh, kind of further on  after you've made your second  or third course, what you'll find is if you ask any trainer  that's been doing it for a little while, you'll find  they'll tell you that it becomes easier and easier. And uh, it's  because like, say some of my first courses that I ever made,  okay, um, some of my dream weaver ones that I made,  they just didn't do very well.

Like the first month I made $4, then $0, then $0, then four,  and then 12, and then zero again. Like just, that was a terrible course. Um, not bad. Maybe it wasn't a bad course,  but that it didn't find the people, okay? But I made a couple of other courses after that. And the cool thing about it is that say people come to one  of my newer courses that maybe just had the better keywords  or just, you know, ranked better on a website  for out of my control.

The cool thing about powder is that people tend to, like,  if you look now at some of my sales, say,  say I'm on my sales on Udemy, you'll see that uh,  Jane has bought this course  and then when she finishes that course you can see  that she's bought three other ones. 'cause she liked that first one and that,  that poor little dream  with a course I made at the beginning gets a sale. And I made that three years ago now. So, um, you know, you can, it ends up, you know,  the more courses you make, the, the more you sell  of your older courses as well. Okay? And so the lifetime value,  like I've figured out my lifetime value  for a student roughly is about $54.

So, you know, we talk about kind of gathering one, you know,  finding one person to buy your course. I find an average though. I make about $54 off that person. I need quite a few people to make a regular income,  but it does become easier and easier as you go along. So what am I rambling about? Just know that it does get easier  and not get discouraged by your very first course.

Okay? Get to your third or fourth. Decide I'm gonna do five courses  and if they're still not doing well, then I'm out. Okay. Online training's, either not for me  or my topic's too niche. Uh, but don't just quit it after the first one  or not get started because you can't make the numbers work.

Uh, yeah. Let's get onto the next step. Step number five, how to make your final decision. So you've got to the end here. And let's say that you've still got a few to pick from. You might have already in the earlier stages decided like,  that is the one fits my audience.

Uh, it's popular and it's profitable job done. There's a, there's a big one at the top,  but let's say that you have got say three still. You know, you've run them all  through the test and you're still not sure. Um, the, especially when you're brand new to this, know  that you're just pick three anyway. Don't pick one that you're gonna do. Pick the next three you're gonna do.

Know that the first one you're gonna do though is probably  going to be the quality, the flow. Like, everything's not gonna be as good as your third one. Okay? You're gonna get better and better at it. My early ones was a bad microphone. Sounded like I was talking in a toilet.

I ed and ad all the way through it. I still am an are through it,  but I'm, I'm definitely a lot more confident that I am now. So my, you know,  my third course was always better than my first course. So I guess the, what I'm trying to say is that, um,  just put them in an order to do rather than which one,  you know, uh, excluding one and doing another one. You're just gonna do all three. And as you, you know, it's  that body of work that I think will probably, you'll find,  you'll find the right audience, the right tone  and the quality will probably come up as well.

So, yeah. Um, don't just pick one, pick a bunch of them,  put them in an order and say, I'm just gonna do these ones  'cause this one's quicker and seems to be more popular,  but then I'm gonna do this one 'cause it takes longer,  but it seems to be less, uh, less competition in this one. That's how I do it anyway. So, uh, I help hope you found these steps useful. It's how, it's the, it's the technique  that I go through every time. Like, this is a big long video,  but it takes me an hour, okay?

To go through my lists, test the productivity  and profitability, productivity, uh, popularity and yeah. And end up at a place where I think  what my next course can be, knowing  that there's gonna be a course after it. And if this one fails, the next one might lift it up  or might just do better by itself. So yeah, if I hope you found these tips useful,  uh, give a thumbs up. Also this channel here. Hey, I distribute you lots of this types of content, okay?

Helping people get started with online courses. So, uh, subscribe to the channel if you haven't already. Uh, another useful thing is joining our, uh, Facebook group. Okay? So if you look for Instructor HQ Online Course  Creators Club, I think we call it something like that,  you'll find it, uh, asked to join. And it's a place where I get to answer these questions kind  of by text if you've got them.

And for some of them I turn them into videos like this kind  of, I guess a bit more details, uh, for helping people, uh,  understand that are getting started. Other things that are useful and there is a checklist. Okay? If you're a new instructor and you want to, you know,  there's, you know, there's a bunch of steps  to kinda getting started through from like this video here  about getting, you know, right at the beginning is it going  to be profitable and through to how to name it, how  to edit it, how to distribute it, how to do social media,  all of that sort of stuff. Um, so if you go to instructor hq.com/checklist,  there'll be a downloadable PDF version, um,  for you there you can download to help you get going. What else am I gonna talk about, uh,  before I go, uh, Bishop for the last thing.

So, um, if you go  to instructor hq.com/bishop Okay. Bishop is basically all of my earnings,  what I earn from courses, how I do different months,  how I kind of got started, and the kind of progression, uh,  profitable ones, nonprofit. I shared it all. Um, mainly just so like,  I remember when I was starting off, when a few people shared  what they were up to  and what they were earning, I was just, I was so looking for  that kind of detail and nobody was sharing. So I feel like it's my turn to help people  that are getting started just to see, you know, what,  what courses doing well for me, my tactics. Yeah, go to Bishop and you'll be able to see  what I'm earning over the different months.

Uh, yeah. So that is end of the video. Uh, anything else at the end, Dan? Nope, I think that's it.