How to Make 8-Figures Selling Online Courses (LVL 10)

Hey everyone, today we're with Joel Erway, who is the founder of Experts Unleashed. Joel, tell us a little more about kind of who you are and what you do.

Yeah, so our company specializes, and I specialize, in helping experts launch profitable 7 and 8-figure scalable expert-based businesses.

I love that. So what does that mean exactly? Can you give us an example?

Over the past, I'd say, 4 years, I've developed in this world of online marketing. I've been exposed to the world of information marketing, which I absolutely love. When I say information marketing, I talk about coaches, consultants, and course creators who are trying to monetize what's up here, trying to monetize their knowledge. So I have been working with those mainly course creators and consultants on leveraging their expertise in a scalable model. Lots of people will come to me and they'll say, hey Joel, can we build a business around a single course? And while you can, it's going to take a long time to get to that 6 or 7-figure, 8-figure model. Like, selling one course for 7 or 8 figures is very, very difficult. And so what we'd help them do is develop different pricing structures, different models, and what I call developing the perfect expert that allows them to scale their business with minimal involvement. And this has been an evolution over the past 4 or 5 years of my personal experience.

I love it. And Joel's worked with some amazing people. I actually met him at a dinner in Toronto, and I actually listened to his podcast before that. He's got a couple, one's called—

One's called Experts Unleashed, and the other is Sold With Webinars.

Which is, Sold With Webinars was the one that I listened to, but I recognized his face immediately. I was like, oh, Joel from the podcast, and we started talking. And yeah, he's definitely, he's helped people go to 8 figures, people that were stuck before, or people that were at zero before to, doing $400,000 a month. So maybe there's like some kind of tactic or framework you can share with people where they can take it away and do something with it. Is there anything that comes to the top of mind for people that are kind of just starting out trying to build that expert brand?

Yeah, so the most common, I don't even wanna call it mistake, right? But the most common path that people take is they will read a book on marketing or they'll read a book on, or they'll get an idea for a course, right? There's great sites out there like Udemy, Lynda.com, lots of different course creation sites and course hosting platforms. Huge supporter of them. They'll get this idea and they'll say, I want to build a course, and they'll have an idea of like what they could potentially make with that. The downside is they are probably undervaluing how much that course is actually worth. I've seen people create courses for as little as $100, $200, and if that's really what they want to do, that's totally fine. But if they have aspirations to take that to the next level, we have to do some work with them, right? People are willing to pay very good money to solve their pains, and what I really dive deep in is when I work with these experts is help them see what that true value is. So maybe that course might be $500, $1,000, or $2,000. I help them see the true value of what they're actually developing, and then I help them take it to the next level and take those offers and create $5,000 offers from them, $10,000 offers from them, $15,000 offers from them and above. And that's how they build a real business, packaging their knowledge in a way that doesn't kill them on fulfillment.

So what I'm hearing is a tactical thing people can do right now is just a matter of increasing their prices, and some people are a little too scared to do that. And then after, your secret sauce is, you know, the process around how you can make what they're doing into like this machine that does over 8 figures a year.

Yeah, I think when people enter it from the standpoint of, You know, there's a lot of people who buy courses on those course hosting platforms, and they're priced very affordably, and I have nothing against that.

$10.

$10, $20, $5, free, and, you know, their mindset is completely— it is not in the right frame of mind. In order to make a healthy living selling anything for $10 or $20, $50, even $100, it's gonna take a lot of effort. Like, the number of sales that you have to make to make that work is mind-boggling. If you look the numbers of whatever your average salary is, $40 grand a year, $50 grand a year, like divide that by $50, like how many courses do you need to sell? 1,000 courses, 1,000 customers, it's not easy.

10,000 courses.

Yeah, I mean, it's like, it's not easy to generate 10,000 customers, and so we have to flip their mindset a little bit and get them to understand what their true value is, and then approach the market with the right angle.

Joel, there's so much more we can talk about this stuff. Literally, Joel helped me with the entire planning session today, and there's— for me, like, it's been infinitely helpful. So Joel, this has been great. What's the best way for people to learn more about you and what you do?

Yeah, so people can go check out expertsunleashed.com. There's tons of information there, and we have links to free Facebook groups and communities that we're putting together so you can interact with other experts there. And I've also got 2 podcasts if you'd love to check them out. One is Experts Unleashed, the other is Sold With Webinars. Now Sold With Webinars is more marketing-based and tactical. It's a little bit more advanced, but always worth a listen to understand what we're doing in the world of selling courses and getting more clients for consulting and coaches.

Alright, great. Joel, this has been great. We will see you in the next video.