Good day all today Im going to doing my blogpost on passive income. I am trying to get some sort of passive income system to work for me and as of yet I have not found one or maybe Im too lazy to put the time aside to do so. This year though I really want to get one started and I have been searching for various options and since I listened to
the podcast on Teespring I have become a little more optimistic. Surprisingly i found Side Hustle Nation by Nick Loper and for some reason this dude has a podcast running on various entrepreneurial opportunities online and one was about receiving passive income via Udemy by Scott Britton from Life Long Learner. He is a marketer, best selling author and podcaster of the competitive edge series which answers the question How do the most successful get a competitive edge in business and life? Well Without further ado lets jump right in and see if I can gain insight into that very question.
Here is the podcast http://www.sidehustlenation.com/passive-income-udemy/
Key Points Taken
How Scott got into teaching online – 2:22.
His lifestyle sustaining income level and how he used Udemy – 5:44.
What were his two courses and how he developed them to become marketable on Udemy – 7:24
One was on sleep hacking and the other was on gmail productivity.
For the Sleep hacking course, he took what he had before from his previous course he did on skillshare and then researched other information and thoughts of the topic online made a packaged powerpoint and published it.
“The Reality is you can be an effective teacher if you know more than the person is interested in the topic that they want to learn on.”- 8:42
Same ideas, just a new way of bringing it to the public – 9:56.
People are just taking existing ideas adding their stories and anecdotes around them and helping the public consume it in an easier way that they can apply it. In many cases people think they need to come up with a brand new idea that no one ever thought of to be able make money off of it, thats not true. A lot of people nowadays want shortcuts, they just want the best of what is already out there and put it into practice to improve their life.
“The goal is to be happy not to be rich.” – 12:02.
When you are spending time on something that you are not genuinely into to make money “You are cannibalizing what you set out to do in the first place.”, you would do a better job if you are care about what you are creating.
His tips for marketing his product – 14:36.
1) While Udemy is reviewing the course to see if its satisfactory for their website there is a grace period where the author can give as select amount of his peers coupons to view and review when it is finally published. So Scott got his closest friends and family members to view it before and post the review when it was available to the public. You can also make a facebook, twitter or other social media post about it and get interested people to check it out and do the same. This will improve the value of the udemy course so people will feel more comfortable purchasing the course.
2) Getting student count up – 17:49
There a lot of sites that can you can give away course for free and they can optimize you conversion rate. An example site is blackhatforum. They have a forum dedicated to
Udemy free courses, you register follow the guidelines, create a enticing title (by viewing the previous posts that have the most views and comments) and share you coupon.
With these tips you can then have the social proof around your product of 1000 students and hopefully double digit 5 star review and trending at launch.
Only ten percent of people who buy a product or course actually finish them – 21:00
So scott divides his course into quarters and does these things. In the first quarter interrupts the content to ask the students if they are enjoying it so far and that if they
can leave a review because it helps other potential students who are curious to try it out. Also he shows them through screencast how to leave a review.
In the second quarter he would talk about a free give away on his website which requires their email address to build your list of potential students for other things you have in store. “Getting as much value as you can from the
people who you are providing value to.”
Price Anchoring – 22:58.
Increasing the price in the a free give away period so that the perceived value is higher, this will engage more people to download or enroll to your product. After the giveaway period you can then change the price.
Using your previous projects for other potential sales – 24:35
When you have made new content to be sold through another medium the customers you have gained from previous sources can then fuel new business venture. Scott used the emails gathered from his Udemy courses to help buy his new amazon book lifehacker. Note building relationships are key as well, with personal accountability your integrity from previous projects will ensure a good customer turnout. Always give a shit to your customers, it will return tenfold.
Using analytics to help improve conversion rates – 27:00
Scott title tests to see what bring more customers, he changes his title every two weeks and has his google analytics tied into his Udemy courses.
Using price testing to coincide with the title – 29:26
“The best thing you can do is make hypothesis and continue to iterate on that hypothesis and have proper testing environment for you to understand with the ideal combination is gonna be.”
Whats next for him – 34:20.
Final thoughts – 39:00.
“Look at everything in life as a giant experiment”
Number 1 tip – 40:29
“What ever you are trying to pursue, find other people that have that same mission.”
“The fastest way to get where you wanna go is through people.”
Thought i was going into this one with a mind frame that this discussion was all about using Udemy to make passive income but I was wrong and its a good thing. I learned that using the right research and techniques can make you a very sought after commodity to people on the internet even without the “qualifications”. Your brand though must be filled with integrity and having a genuine passion for what you create ensures this. He also gave great tips to increase, and maintain a good conversion rate on Udemy and im sure it can apply to some other internet services such as a promotion for a book on Amazon.In the end we are all in the pursuit of happiness and success and with the right people with can reach there even faster than doing it on your own. Thanks all for taking the time to read and listen to the podcast, I hope to see you in the next installment.