I’m a huge fan of online products – they’ve helped me grow a multi-million dollar online business.
And one of the biggest reasons I love online products is, compared to physical products, you don’t have all the associated setup costs. When you start selling online products or courses – you really are getting paid for your ideas!
The other beauty in selling online products, is when you’re creating your own online products, you have a lot more control over the entire product creation process and also the price you’ll ask for it.
You’re not reliant on suppliers to set your margins or your prices, so you can really price your programs according to the value that they deliver to your end customers.
If you’ve already committed to creating an online product, program or course, what are the best ways you can create it? Here I’m sharing two of my favorite ways to create an online product …
#1 Get Paid to Create Your Online Product or Course
So, how can you get paid to create your online product? Let me give you an example of how that might work. It might be that you teach your program live in a boot-camp for six or eight weeks. You show up, you deliver the content live every week to a small audience. You answer their questions and you might also have additional ways for them to interact with you. At the end of the boot-camp, by recording all your training sessions, and re-purposing all your training materials, you’ve actually created your first online product.
This is how I got started with my own online programs. In fact, my very first online product was created using the “get paid” method. The very first product I ever sold online was a teleseminar that I delivered to an audience of two. The topic was on lead generation. I posted a link to this product on my website, and I sold it for £25.
I can remember the very first time that I saw a sale come through. It was incredible – it was the first time I made money in my sleep. I had actually got paid to create my product! That’s my most favourite way of creating a new online product.
If I am looking to create content on a new topic, one the things that I’ll often do is decide to lead a live workshop. I’ll bring people together. I’ll teach them the content. I will record it, and I will sell the recordings. I’ve used that method over and over. Think about it, what ways could you get paid to create your online product?
Now, I understand the “get paid” method doesn’t suit every personality style and I respect that. I have had people say, “Bernadette, I just couldn’t do that. I would not want to take anybody’s money until I knew that I had my whole product designed and outlined.”
The only downside to that is, if there’s not an audience ready and willing to buy your product, or if you haven’t yet proven your product has potential to sell – you can invest a lot of time in product creation without really knowing there’s going to be a ready-to-buy market for it. That’s where my 2nd favourite method to product creation comes in to play …
#2 Test your market with a smaller version of your online product
If you’re someone who doesn’t want to use the “get paid” method, I suggest you think about a way that you can create a smaller version of your product first. So, for example, if you’re thinking about doing a six-week program on a particular topic – is there a way that you could create a thirty- or sixty-minute video that you could sell at a lower price? You could talk on the same topic but it wouldn’t go into the same depth that the longer program would.
Doing a smaller version of your online product first would give you a chance to test the market. I actually did that with one of my products when I launched “How to Attract Corporate Clients.” Originally I wasn’t planning for it to be this big box product that I eventually sold for over $1000. I started out just leading one live teleseminar where I shared my content and answered questions. After having success with the teleseminar on a small scale, I realized there was an audience for it. After I knew the topic was something my audience wanted, I was able to offer them what they wanted in a bigger way.
So, those are the two ways I recommend for creating your online products.