How to Make $10,000 a Month with an Online Course Business
Hello Tim here.
I was in Philly this week to visit my mom. The other night I went upstairs for a few moments and I could hear my mom and my son laughing hysterically together in the living room. It made me smile.
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How to Make $10,000 a Month with an Online Course Business
Selling online courses is a great business model with high profit margins.
There is no marginal cost of replication. Once you create your course, you can sell it an infinite amount of times without increasing your expenses.
But if it were so easy, how come everyone doesn't do it?
In this article, I will break down the step by step framework you can use to create a course and generate $10,000 a month in profit.
2. How Ali Ladha Used Unique Pricing Strategies to Get More Clients
On this week’s episode, Ethan and I break down the brilliant pricing and acquisition strategy being used by virtual CFO Ali Ladha to grow his service business.
You’ll hear tips and tactics you can copy, as well as some helpful info on when/how to hire bookkeepers and fractional CFOs yourself.
Click here to listen on iTunes or click here to listen on Spotify.
3. How to Use Debt to Get Rich
July 18th 2022
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I'm afraid of debt. I paid off my car in two years and my mortgage is the first time I've ever taken any sizable loan from the banking system. I don't like it, it scares me and I think debt is one of the biggest factors holding people back in life.
When I lived in Boca, I can so distinctively remember my friend buying a Mercedes AMG. I knew he didn't actually have the money for the car, but the car made him feel rich. Every time I see this I think of a quote by Tyler Durden.
"We buy things we don't need, with money we don't have, to impress people we don't like."
But ... I am completely aware the is a right way and a wrong way to manage debt, and I am ready to learn more.
In this Twitter thread, Codie completely breaks down how to borrow against your capital gains to avoid taxes and to de-risk inflation through debt. If inflation devalues your cash, than it also devalues your debt.
If I ever get into real estate (which I will do in the next few years when I finally crash and burn from working 70 hours a week) than I will learn how to manage debt.
Until then, I will learn as much as I can from smart people like Codie.
4. How to Effectively Books Services and Close Big Money Clients (Bootstrapper Members Only)
At the top of your Value Ladder–beyond the free stuff like articles and guides, the low-priced products, and the high-priced products and courses–is usually whatever services you offer.
So once you’ve done all the work to get their attention and worked them up the ladder, the next step is to seal the deal.
Here’s how to book more services by effectively collecting, qualifying, and closing leads.
P.S. - I told you all that the price increases when we hit 100 members, I wasn't joking about that. Currently we are at 97. I am raising the price on Monday. This is your last chance to save.
Click here to sign up for The Bootstrapper and use discount code LASTCHANCE to get 30% off!
5. I Did a Guest Appearance with the Ship30 Crew
Dickie Bush and Nicolas Cole are two of my favorite people. These guys have built an amazing company by teaching people how to write online effectively. In ship30for30, they have created their own category of marketing that they call "social blogging."
They had me in to speak about my own experience writing online and we talked about why I have used long form writing and SEO in my marketing and business growth.
I've gotten DM's and kind words on Twitter for the last week about my presentation and I am so happy that people enjoyed my talk. It makes me feel really good.
6. Automate to Profit
July 14th 2022
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I don't know Justin, but I have been impressed with the growth of his brand and the consistency of his messaging.
I stumbled across this thread and I was delighted to see a use case of the "automation mindset" that I am always talking about. If you read the thread carefully, you will notice that Justin's tech stack and automation schedule allows him to focus almost all of his attention on growth and sales.
That's what you want!
You don't want to be spending your time designing testimonials or tinkering with sales receipts, merchant API's, and invoicing.
You want to position your company in a way that automates the logistics and leg work so all of your time is spent focusing on what's most important.
If you're serious about building a personal brand business, then implementing these tools is a good place to start.
7. Persuasive Writing Techniques that Work
Want to use persuasive writing to convince your readers to do something or agree with your point of view?
OK, that was a silly question. Of course you do.
We all know how easy it is to get distracted these days, and you want your online business ideas to stand out and reach the audience you’re aiming to serve.
It’d be great if that happened by itself, but smart content entrepreneurs know it takes research, dedication, and skill to make a living online.
8. EMMANUELLLL! DON'T DO IT!!!
July 16th 2022
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LOLOLOLOLOL. 😂😂😂
I love Twitter.
9. A Good Reminder
July 19th 2022
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I'm 36 years old and I STILL cringe at the thought of the kids who picked on me in high school making fun of me when they see my social media.
And then I remember ... fuck em.
10. Final Thought - "Whatever It Takes"
My wife is training to be a dietitian. It requires a great deal of intense schooling. Currently, she is enrolled in an accelerated calculus class. This class (no exaggeration) requires her to do about 7 hours worth of math problems a day.
I am working every day to build my portfolio of companies. I average about 9 working hours a day. At this very moment, I am in Sea Isle New Jersey, on a short family vacation, writing my blog post at 10:40 PM. My entire family is across the street at a bar called Kix. They're dancing and drinking and celebrating life. I'm holed up in a shitty motel room, because I promised myself that I would write one blog post and send one newsletter every Friday.
On top of our demanding workload, my wife and I still manage to go to the gym every morning, 5 days a week. I train Muay Thai every Tuesday and Friday and do my 10,000 meter rowing session every Sunday.
My wife has straight A's. She just bench pressed 115 pounds for 5 reps while being 7 1/2 months pregnant. That's a new PR for her.
When Jules signed up for school, we knew it would be challenging.
But when we made this commitment, we promised each other that we would do whatever it takes.
Whatever it takes for her to get her degree. Whatever it takes for me to build these companies. Whatever it takes for her to become a successful dietitian. Whatever it takes to hit our fitness goals. Whatever it takes to remain good parents that spend time with Julian and provide him with good nutrition.
Failure is simply not tolerated.
Whatever it takes.
I am writing this because I want you to know that you are capable of so much more than you realize.
I feel like I am constantly hitting new levels. I am constantly discovering that I am capable of accomplishing more than I never imagined I would be capable of.
You can to. You have magic inside of you.
Love you. Talk to you next week.
Tim