155: Transforming Coaching Programs: Monetize Your Expertise with Profitable Online Courses

Hi there.

Before we dive into today's episode, I want to ask you an important question. Are you wondering why your hard work isn't reflecting in your bank account? If so, I've got something that could change the game for you. With my digital product accelerator one on one coaching program, I'm on a mission to help entrepreneurs like you be bank consistent revenue without sacrificing your time or sanity. Imagine shifting from 90% client facing work to enjoying consistent revenue from your digital products, all while reclaiming your time. You already know that you don't need another course and a one size fits all approach isn't going to cut it. What you need is a strategic long term plan that tailored just for you. So if you're ready to build the profitable freedom giving business you dreamed of, apply to work with me by going to destinycop.com apply. I cannot wait to learn more about you and your business. Welcome to the Course Creators MBA podcast. I'm your host Dr. Destiny Kopp and I help business owners increase the revenue with digital products and evergreen sales funnels. In this podcast we go deep into product and marketing strategies for digital product creators. We cover everything from digital product creation, how to market and sell your digital products, and just as important, how to find your ideal customer. Let's jump right into our show.

And my special guest today is Myra Kate. Myra is an online course creator and strategist. She's an author and a kingdom driven entrepreneur. She helps female coaches, experts and service based entrepreneurs package their God given passions, expertise and skills into a profitable and transformational online course so they can make bigger income and impact. She's featured in yahoo.finance as one of the top 10 course experts to watch out for. Myra, I am super excited to jump into this topic and chat with you and and today we're going to be talking about transforming your coaching program into a profitable self paced course so you can make passive income. But before we get into all the questions I have for you, can you tell the audience just a little bit more about you and how you help people?

Yeah. So for sure. Thank you again Destiny for this wonderful opportunity. And hello everyone to everyone who's listening. I'm again Myra K. As Destiny introduced and really my mission is to my business's mission as well is to multiply. Is to help people multiply their income and impact through creating online courses that really is profitable and would transform lives.

So tell us a little bit about how you got started Myra. How. What, what made you get into this?

Oh, that's a really long story. But the actual like short story of this is that I started out as a blogger and I was able to monetize my blog at that time a few years back through online courses. And since then people started to ask me, you know, how do you do? How do you monetize your blog? How do you, you know, monetize your expertise and whatnot? And I truly realize that, you know, online courses are one of the things that I'm truly passionate about because it's one of the amazing ways for you to be able to, you know, share whatever you have, like your expertise, your, your background, your life lessons and be able to help other people who may be struggling with the same things you struggled with before. And so, yeah, I transitioned. Since then I transitioned into becoming an online course creator and strategist. And now that's the short story.

Well, I love that. I love that. So today you're, you primarily work in helping like coaches and consultants and experts take the knowledge that they have and create in, you know, take the knowledge they have and create an online course and help people, you know, that way, which is a little bit different than, you know, maybe group coaching or one on one services or consulting services. Can you tell us why somebody like a coach or consultant or an expert out there should consider creating an online course? Like, who's really a good fit for it?

For sure. Yeah. So online courses is a really great way to generate passive income stream. You know, that's like an income stream that's not just like you have to trade your time for money and your in your earning potential is limited. You know, the income ceiling is something that a lot of coaches, business owners or service providers face as well in the entrepreneurship journey. Just because, you know, when you have these coaching programs or when you serve people on a one on one or hourly or session based basis, it's just that we can only serve a limited number of people every time, you know, we open those programs or those, you know, sessions. Which also means that our income becomes capped by the limited amount of time that's available to us. Like, let's just, let's just be honest, all of us here have 24 hours, right? I don't know who else will have different time. And so that's why for me personally, online courses are a great way to not just make more income, but also to be able to serve more people and earn more with less time investment. Because honestly, time is even more valuable personally for me, because it's something that we can never get back. Money is something that if we Lose it. We can try to work hard again, hustle hard again or, or open another business or whatnot just so we can get back or save more. But time, once we have lost it, once we have, you know, once we are past the. I've heard this from a client of mine before where she said it's really valuable for her to see how her child grows up and be with her child at that, you know, point in her time. And that's why for her it was very important to have this kind of income stream that's scalable and is less time dependent.

So let's drill down on this a little bit. Let's say that there's a coach out there and she right now has coaching clients that she's working with. At what point in her business should she consider creating an online course or maybe adding that revenue stream to her portfolio or even replacing some of her coaching services with a one on one course or I should say with a self paced course.

Yeah. So for those coaches who are, who find themselves lacking time to be able to do the things that matter to them. So let's say they are always just filled with like one on one client calls every single day, like all day in front of their laptop, working, don't have any other time to work on. I mean spend time with their family or do what they love or you know, it's taking toll on their mental health and well being. When it's at that level it should be like that person should consider having, you know, these income streams that are not really going to depend just solely on their time. Yeah.

So let's, you know, we're gonna, we're gonna break this down and make it really real for folks. So let's say they're at that point their calendar is booked. So they're, you know, they're swamped. They're swamped as it is. Do they have the time to even create a course or what other steps that you suggest they should take to start going down that path to create this revenue generating asset to help them, you know, free up some of the time in their business. What, what are the next steps there?

Yeah, honestly that's really one of the biggest struggles that I hear from, you know, busy coaches. We're talking about busy entrepreneurs who are fully booked and obviously we want that, we're not against that. Right. But we also just want them. I mean they do not have time to work on their course anymore. So mostly they just procrastinate and it's like the cycle of, they're fully booked or they're trading their time for money. They know they need to create a course, but they don't find time to create the course. So they just keep going on and on that cycle and they don't actually get out of it. Right. So one of the biggest things to realize is that creating a course can be simple, especially if we make it simple. Sometimes honestly, in our minds, we try to overanalyze the process of course creation. And I know there's a lot to it. And if we are going to be, let's say, a perfectionist or we are going to, to analyze every single thing, like the recording, the slides design and all of that, then really what's usually going to happen is that we may be stuck, right? We may find ourselves stuck in the course creation process. And I honestly can't relate to this. No judgment if the listeners find themselves, you know, in this experience or in this moment. Because I have experienced that myself before and some of my clients were in that same position, which is why they reached out to me. And so the steps that I usually suggest for them is that either they, they try to really simplify the course creation process and manage their time well. Like really prioritize time for the course creation. Like let's just say, you know, time blocking is a great strategy. Let's say, you know, one hour every day, or if that's not doable, maybe at least two, three hours every week, whatever time that is. Maybe when the kids are sleeping or when the kids are at school or you know, in between client calls, things like that. And then using, you know, tools to make it easier, such as AI, right. Like for example, ChatGPT. When it comes to brainstorming course ideas or trying to summarizing the course lessons when you're trying to set it up on the platform, things like that would be able to save them time and make the course creation process at least a little bit easier for them. And another option is to outsource, right? So if they really just are at that point where they're like, I can't be bothered learning about course creation. I just want to be able to record, click, hit record in front of the camera or you know, in front of your laptop. If you're using slides in your course and just hit record, that's it. That's the only thing I want to do besides launching the course and, you know, selling it to my audience. And if that's the case for you, then outsourcing may be a great way for you to streamline the entire process and shorten the turnaround time, you know, because if you're going to hire a course creation expert, a course creator who is experienced at this, then obviously they will be able to execute those tasks much more quickly. Because let's be honest, there's also a lot of tasks. I know, Destiny, you can attest to this. There's a lot of tasks in creating a course as well. Right. So that's the course setup, the course curriculum, design the slides design, all of those things, you know, so I know it can get overwhelming at that. So yeah. Did I answer your question, Destiny?

Well, yes, absolutely. And I wanted to kind of go back to a couple of things that you said because I think it can really help folks. I do think that there are like for instance for the course lessons, there are templates out there that you can purchase so you're not having to start from scratch, which is super, super helpful. Right. I mean that's one, one of the things you can do. But I absolutely love, and I'll talk about my personal experience here because I think it helped people absolutely love ChatGPT. It is, it is really honestly changed my course creation process. Process. And I've created, you know, three different courses in the past few weeks and I went to chat GPT and said, here's what I'm thinking about, what angle should I consider? You know, we went through the outline and had it helped me create the outline. Then it went through and helped me create the course content for the course lesson slides. So I wasn't starting from scratch and then I had it help me create the speaker notes for the course lessons. So it was super, super beneficial. So I'm so glad that you brought that up. And of course I agree with you, Myra. If somebody just is like, you know what, I'm too busy, I can't even begin to do any of that. I think outsourcing is a great option for them. Now, Myra, any last minute tips for the coaches or the consultants or the experts out there who are like, you know what, I absolutely need to put this on my calendar as a to do item. What would you suggest they do?

First and foremost, I think it will be great if they can structure, you know, their content. Sometimes it can get, as experts, you know, it, it can get hard or difficult for us to kind of summarize everything in one go where we are able to teach it to people. You know, in coaching sessions there are lots of things that we talk about. But in creating these self paced courses, make sure that your course lessons are essentially bite sized and not too overwhelming for the students to go through. Just so you know, you have more chances of getting higher completion rate. That's one of the things that I highlight and I talk more about with my clients. And another, another tip is to also just have like enhance the learning experience. I know that coaching programs provide individualized guidance, support, feedback, all of those things. And it might seem impossible at this point for you for coaches to think that, oh no, like if this is a self paced course, it's not going to be as transformational as my coaching program. But really there are ways to deliver your course content in a way that it can still be transformational by adding, you know, practical examples, interactive exercises, self reflection opportunities, actionable assignments or you know, progress tracking, all of those things. And I hope I'm not sounding too like, I'm not like making it too over complicated in your mind right now to the listeners. But yeah, it's definitely great to incorporate those just so your self paced course will be as transformational as coaching programs. Because I definitely know that sometimes coaches and consultants are kind of hesitant when it comes to creating these self paced courses because they think it's much more, it's, it's better to just do it like one on one every single time. But yeah, there's a way to serve more people and earn more with less time investment. And I truly believe that online courses is a great way to do that.

And I love the tip that you gave us about the bite size lessons. And I generally recommend no more than 10 minutes. Try to get even close to five minutes if you can. So very short lessons. What you don't want to do is have, you know, an hour long.

An hour long?

Yeah, yeah. But nobody's gonna, nobody's gonna sit down and listen or watch that. Right?

You know, I've experienced that. But that's, that's why I essentially don't want to, I don't want people to do that.

Yeah, it, it absolutely just doesn't work. But I also like the suggestion that you had in there in adding all of those practical examples and those actionable assignments just to really engage the, the Lear with some great tips. Now mar, how can people find you And I believe you have a free gift for them also.

Yes, for sure. I love free gifts myself. And for the listeners here, if I have a free gift titled Road to your course success guide. This is a PDF guide where I talk about how my client was able to create additional 15,000 plus in her business just with the course that we created together and some of the ideas for you to be able to scale your business through online courses. And if you want this free gift, if you want to learn through this PDF guide, then make sure to go to myercate.com case study to download that and also to find me. Reach out to me if you have additional questions whatnot or if you just want to rant about courses that are not really that good and you just want to chat with me, you can definitely reach out to me on Instagram, it's @mk horsecreator and also check out my services if you need them as well on myracade.com so yeah, and Myra.

Will make sure that all of those links are in the show notes so people can find you very easily. And thank you so much for joining me today and sharing all of your wonderful knowledge with us.

Thank you so much as well, Destiny. And thank you to everyone who listened right now. I hope you have found value from this podcast episode.

Thank you so much for joining us today. I hope you enjoyed this episode. If you love the show, we'd appreciate a review on Apple Podcasts or your favorite podcast platform and show us some love there. Have a great rest of your day and bye for now.