I see many online business owners diving into creating an online course or group program before they are ready, and that often ends up in unsuccessful launches.
What does it mean to be launch ready?
It means that you already have a strong business foundation, you already have a clientele, you are confident in who you are serving and how. That usually means working 1:1 with clients for at least a year.
Being ready to scale your business through launching a course or group program on repeat will allow you to grow your business revenue at a much faster rate than your expenses.
There are four (4) stages a business goes through if it’s lucky enough to survive. Ideally, you will want to have gone through the first two before getting ready to scale your business:
- Start Up or Direct Selling – meaning selling 1:1 and delivering 1:1.
- Growth – meaning adding resources such as team, creating systems, and increasing revenue by selling 1:many and delivering 1:1.
- Scale – meaning increasing revenue at a much faster rate than expenses via selling 1:many and delivering 1:many.
- Industry Leader – your focus is dominating the industry, and your priority is constantly reinventing your business.
Usually, being in the scaling stage means that you have or are creating processes and systems so that your business runs like a well-oiled machine without needing additional resources. That results in making more money without much additional work.
If you aren’t there yet, get to a place where you feel really clear and good about where you are with your 1:1 expertise, then start preparing for your first online course or group program.