๐๏ธ DON'T SELL A COURSE / PAID COMMUNITY (Until You Do This)
Paid communities are the rage. But just because your favourite YouTuber is making bank with a paid community or course, doesn't mean it's the fastest path for you to get to $10k/month. As a synthesizer, there's only 4 ways for you to monetize: Let's break them down, then help you figure out which is best for you. This is a crucial decision if you want to make a full-time income online doing what you love. // ๐๐๐ ๐
๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐ 1. DO IT YOURSELF (Courses) What is it: The buyer receives information. They have to consume it, and execute on it themselves. Pros: It's infinitely scalable. 1,000,000 people can go through a course at the same time. Cons: It's very hard to sell. The buyer knows it's going to be a lot of work to consume the information then implement it. // 2. DONE WITH YOU AND OTHERS (Paid Communities, Group Coaching, Cohort Based Courses) What is it: The buyer does the work with you helping in a group setting. Pros: It's pretty scalable. You can help hundreds of people at the same time. Cons: It's hard to sell. The buyer does all the work, and doesn't get much direct help from you. // 3. DONE WITH YOU (1 on 1 Coaching) What is it: You help the buyer privately to achieve the outcome. Pros: It's easy to sell. People value 1 to 1 connection, and direct help is very valuable. Cons: It's not infinitely scalable. It's hard to scale beyond $30,000/month. // 4. DONE FOR YOU (Services) What is it: You do work for the buyer. Pros: It's super easy to sell. The buyer hardly has to do any work, but still gets the outcome. Cons: It's not infinitely scalable. It's hard to scale beyond $30,000/month. // ๐๐ ๐๐๐๐๐ When I started trying to monetize, I thought the best thing to do was build an audience. I spent a year doing this, and made $0. This post explains why you should not make content until you figure out monetization. Please do not make the mistake I made.