HSH 077: 5 Strategies That Took Me From $0 to $750k in Digital Course Sales in 2.5 Years
Do you feel you’ve hit a wall in your business and are looking to scale your digital courses to the next level? On today’s episode, I’m revealing the 5 key strategies that really moved the needle in my course business. Stay tuned until the end of the episode too for a very special announcement that I’m excited to share with you!
1. Planning for Launches
A common issue that many online entrepreneurs face (and I was, up until the end of 2015) is trying to launch back-to-back-to-back. They’re always launching and not planning everything out well in advance. I realized that if I really wanted to scale my business, I was going to have to start planning the right way.
It worked, and the first launch we did this for we 3X’d the revenue in our launch, and then 3X’d it again over the next year leading to our biggest launch ever (over $170k in revenue and more than $100k in profit)! In order to gear up, you’re going to need to create a ton of content well in advance of the launch and run ads to promote it, for months.
2. Launch Forecasting
I used to set goals for revenue, but it really wasn’t forecasting. The big shift for me was going beyond just what our ad budget and revenue goal would be, and asking what we really want to achieve with the launch. We then set very specific goals in terms of how many leads we needed and based our budget on this figure. We also starting setting multiple goals, by using the “good/better/best goal system.”
All of our launches now have a “Master Resource File”, which is a Google Doc that links to everything. In addition to this we also have creative briefs for all ads and map out our entire launch schedule for ads and emails, to name a few of the forecasting tools we now use.
Finally, we track our ad spend and sales on a day-to-day basis once the cart opens. The big shift now is that we are able to analyze our data on a very high-level.
3. Scaling One Thing at a Time
There’s a trend online where people stop doing what works to try something different that may, or may not even work. As you scale, focus on the one strategy that’s really helped you and max that one out before you move on to something else! Remember, as you add more strategies you’ll need more people and resources to manage them, whereas scaling an existing strategy can be done at a much lower cost.
4. Respond to the Market First (Not Just Your Experience)
As you scale your business, you have to stop trying to sell things based on what you know and instead start serving the needs and wants of our audience. I do this by asking my ideal clients a ton of questions!
5. Join a Mastermind
At the end of 2015 I knew that I needed some higher-level support, and joining James Wedmore’s mastermind group changed everything for me.
A mastermind is a group of people (usually by application only), which gives the opportunity for both peer and facilitator feedback. It’s a great tool for identifying your blind spots, and it is a safe space in which you are surrounded by like-minded individuals with similar goals.
With the financial investment required (which can range from $20,000 a year and up), people will show up and at 100%! By joining the right mastermind, you’re setting yourself up to really catapult your growth.
Remember, as my mentor says, what got you here won’t get you there. Hustle, grit and working long hours got me to the $100k level, but it’s not what scaled my courses to $750k in sales. What got me there are the strategies that I presented in this podcast. Is what you’re doing now going to take you to the level you want to get to?