WEBVTT NOTE This file was generated by Descript 00:00:01.189 --> 00:00:04.600 Hey, this is Mark Butler and you are listening to a podcast for 00:00:04.600 --> 00:00:06.879 coaches special Friday episode. 00:00:07.630 --> 00:00:09.389 Kind of in vacation mode around here. 00:00:09.429 --> 00:00:11.669 I'm home, but the kids are out of school. 00:00:13.589 --> 00:00:15.099 It's my quiet week for coaching. 00:00:15.100 --> 00:00:17.879 So I have had just a couple of coaching sessions, but very few. 00:00:19.369 --> 00:00:21.410 So there's not a lot going on around here. 00:00:21.410 --> 00:00:23.100 And we're kind of puttering around the house. 00:00:23.100 --> 00:00:26.169 And yesterday being Thursday, the day I normally record and publish at about 00:00:26.169 --> 00:00:28.869 one o'clock in the afternoon, I turned to Kate and said, wait, it's Thursday. 00:00:28.869 --> 00:00:30.710 I'm supposed to publish a podcast episode. 00:00:31.829 --> 00:00:33.210 And then she said, we'll get on with it. 00:00:33.210 --> 00:00:35.589 And I said, ah, it's vacation, whatever. 00:00:37.359 --> 00:00:39.339 But I woke up this morning thinking. 00:00:40.379 --> 00:00:45.859 For me, the publishing habit feels so fragile that being casual 00:00:45.859 --> 00:00:48.269 about skipping a week seems risky. 00:00:50.339 --> 00:00:52.999 I think a lot about The Princess Bride. 00:00:52.999 --> 00:00:54.159 I'm sure that you do too. 00:00:54.159 --> 00:00:56.529 I think all of us spend a lot of time thinking about some of the 00:00:56.529 --> 00:01:00.049 amazing quotes that come from that brilliant movie, The Princess Bride. 00:01:00.069 --> 00:01:05.764 And I think about the scene where Wesley and Buttercup 00:01:05.805 --> 00:01:07.664 are walking through the swamp. 00:01:07.664 --> 00:01:09.535 And I can't remember the swamps name. 00:01:09.535 --> 00:01:15.664 I'm so embarrassed, but Wesley is telling Buttercup the story of their time apart 00:01:15.695 --> 00:01:20.614 when he was with the dread pirate Roberts, when he became the dread pirate Roberts. 00:01:21.374 --> 00:01:24.644 And one of the things he says to Buttercup is when he went from being the Dread 00:01:24.644 --> 00:01:29.574 Pirate Roberts prisoner to becoming the Dread Pirate Roberts himself, 00:01:30.664 --> 00:01:33.484 at the beginning of his relationship with the Dread Pirate Roberts, the 00:01:33.484 --> 00:01:37.074 Dread Pirate Roberts would finish each day by saying, Good night, Wesley. 00:01:37.074 --> 00:01:37.694 Well done. 00:01:38.324 --> 00:01:39.604 I'll most likely kill you in the morning. 00:01:41.014 --> 00:01:45.294 And I often think about that because in my own life, I am both Wesley 00:01:45.324 --> 00:01:47.144 and I am the Dread Pirate Roberts. 00:01:48.394 --> 00:01:53.084 This is especially true in my content publishing because each and every time 00:01:53.124 --> 00:01:58.334 I'm not exaggerating each and every time I publish a podcast episode, a solo episode 00:01:58.984 --> 00:02:02.454 at the end of that episode, when I've clicked publish and the episode has gone 00:02:02.454 --> 00:02:07.134 out into the world, there's a little voice in my head that says, good night, Mark. 00:02:07.144 --> 00:02:07.724 Well done. 00:02:08.074 --> 00:02:09.534 I'll most likely kill you in the morning. 00:02:10.004 --> 00:02:15.764 Meaning There's a part of my brain that thinks the episode I just published is the 00:02:15.764 --> 00:02:18.504 last podcast episode I will ever publish. 00:02:18.524 --> 00:02:21.784 And I think it's sort of a coin toss, whether it's true or not. 00:02:24.234 --> 00:02:27.884 That's how fragile publishing feels to me. 00:02:28.774 --> 00:02:32.704 So as I thought about being in vacation mode, and I thought about the fact that 00:02:32.704 --> 00:02:39.224 I didn't intentionally skip the week, I just sort of the way that I do skipping 00:02:39.224 --> 00:02:46.944 feels like Actually having the dread pirate Roberts kill me in the morning 00:02:46.964 --> 00:02:49.234 as it were, look, it's a metaphor. 00:02:49.334 --> 00:02:50.994 I know I overworked it a little bit. 00:02:51.334 --> 00:02:51.964 Hang in there. 00:02:53.364 --> 00:02:55.914 So I woke up this morning and I said, no, let's publish an episode. 00:02:55.924 --> 00:02:58.654 I've had this episode in my head for a while, so it's 00:02:58.654 --> 00:03:00.254 not completely off the cuff. 00:03:00.264 --> 00:03:02.704 There are some principles here that I think are important to share. 00:03:02.705 --> 00:03:06.574 And at the end of it, I'll be able to say, well done, Mark, 00:03:06.624 --> 00:03:07.594 you published another one. 00:03:08.724 --> 00:03:10.084 I'll most likely kill you in the morning. 00:03:11.224 --> 00:03:11.534 Now. 00:03:12.374 --> 00:03:16.544 This episode is about the urge to create a course. 00:03:17.834 --> 00:03:18.504 It's an urge. 00:03:18.504 --> 00:03:22.874 I still have, I've had it for over 15 years now. 00:03:22.874 --> 00:03:27.984 I've created a few courses during that time, but the urge to create a course 00:03:27.984 --> 00:03:32.824 is this thing that doesn't seem to leave any of us that are in the world 00:03:32.824 --> 00:03:34.354 of coaching and personal development. 00:03:34.374 --> 00:03:34.794 Why? 00:03:34.794 --> 00:03:39.694 Well, because we have this perception that courses are semi passive income. 00:03:41.054 --> 00:03:42.374 I've talked a lot about this. 00:03:43.454 --> 00:03:46.084 You can go to the early episodes of a podcast for coaches. 00:03:46.084 --> 00:03:49.494 You'll hear me talking about training models versus coaching models. 00:03:49.854 --> 00:03:53.314 The challenges of , scalable business models. 00:03:53.994 --> 00:03:57.744 But today I want to talk specifically about this urge to create a course 00:03:58.114 --> 00:03:59.514 where I think it comes from. 00:04:00.114 --> 00:04:00.754 And then. 00:04:01.749 --> 00:04:05.519 What I think about actually acting on it because I do have a specific course 00:04:05.519 --> 00:04:10.049 in mind right now that I would like to create and to distribute into the world. 00:04:10.729 --> 00:04:11.259 Will I? 00:04:11.999 --> 00:04:12.899 Probably not. 00:04:12.939 --> 00:04:14.859 Let's be, let's be real with ourselves. 00:04:14.889 --> 00:04:22.679 But something I hear newer coaches say often is when they get into the 00:04:22.679 --> 00:04:26.299 world of coaching and they realize that they don't have any clients. 00:04:26.949 --> 00:04:29.639 And they realize they don't really know how to get clients. 00:04:29.639 --> 00:04:32.339 And I have great sympathy and empathy for that. 00:04:33.939 --> 00:04:38.269 Then I hear them saying, so anyway, I'm creating a course. 00:04:38.889 --> 00:04:39.919 Well, why is that happening? 00:04:39.919 --> 00:04:42.919 Well, first of all, it's happening because when you can create a course, 00:04:42.969 --> 00:04:45.839 , there's just a well of dopamine waiting for you in the creation of that 00:04:45.839 --> 00:04:52.099 course, you get to write and create and you get to feel smart and you 00:04:52.099 --> 00:04:53.919 are, I'm not, there's no sarcasm here. 00:04:53.919 --> 00:04:58.109 Creating a course is, is fun and it's challenging and it's rewarding. 00:04:58.119 --> 00:05:02.999 And I think there's many great dopamine dumps waiting for us in course creation. 00:05:03.839 --> 00:05:06.489 It also allows us to avoid the discomfort. 00:05:07.494 --> 00:05:11.404 of being with the reality that we don't have clients or that we don't know what 00:05:11.404 --> 00:05:18.514 to do with ourselves in between clients or in between yeses from potential clients. 00:05:20.214 --> 00:05:21.464 So I completely get that. 00:05:22.684 --> 00:05:27.404 I also have the opinion that coaching is, is harder than people think. 00:05:27.614 --> 00:05:31.044 It can be very hard when you're engaging with clients and you have a 00:05:31.044 --> 00:05:34.964 whole set of principles in your head and you're trying to help them explore 00:05:34.964 --> 00:05:37.784 their challenges and explore their behaviors and their relationships. 00:05:37.814 --> 00:05:42.484 And you find yourself thinking, if you just knew what I know, you wouldn't be 00:05:42.484 --> 00:05:45.334 making the choices you're making and getting the results that you're getting. 00:05:45.654 --> 00:05:49.334 So if I could just transfer my knowledge to you, Then 00:05:49.334 --> 00:05:50.774 that would solve your problems 00:05:53.494 --> 00:06:01.214 it's not strictly speaking untrue if A person is skilled and knowledgeable 00:06:01.214 --> 00:06:04.234 in an area and if they can transfer their skills and their knowledge 00:06:04.234 --> 00:06:12.339 to me I'm I'm probably better off The asterisk here is that Time and 00:06:12.929 --> 00:06:16.889 circumstances and personality also matter. 00:06:17.259 --> 00:06:20.469 So it's not just having the knowledge and having the skills. 00:06:20.469 --> 00:06:24.019 It's how those skills and that knowledge lands with me. 00:06:24.029 --> 00:06:25.279 And what's the timing in my life? 00:06:25.279 --> 00:06:26.689 What's my preparedness for it? 00:06:27.089 --> 00:06:30.970 What's my ability , to act on that new knowledge and those new skills. 00:06:31.350 --> 00:06:33.580 So it's actually quite a flawed idea. 00:06:33.630 --> 00:06:37.000 This idea that if they just knew what I know that they would be 00:06:37.000 --> 00:06:38.510 different, they would act differently. 00:06:38.510 --> 00:06:39.590 They would get different results. 00:06:40.690 --> 00:06:43.050 It's an imperfect, but it's an understandable idea. 00:06:43.950 --> 00:06:48.079 And when you mix that good intention, the good intention of, if you just 00:06:48.079 --> 00:06:49.869 knew what I know, you'd be better off 00:06:52.009 --> 00:06:55.800 with the discomfort of being out in the world, actually 00:06:55.800 --> 00:06:57.390 attempting to create relationships. 00:06:58.534 --> 00:07:01.585 And nurture those relationships into client relationships. 00:07:03.015 --> 00:07:07.435 Then you can understand why people go into their caves to , make 00:07:07.445 --> 00:07:09.914 a course or , create a program. 00:07:10.914 --> 00:07:15.074 This is where you hear a lot of coaches saying, I'm working on my program. 00:07:15.154 --> 00:07:15.604 Okay. 00:07:15.664 --> 00:07:16.134 Amazing. 00:07:16.134 --> 00:07:16.904 You're working on your program. 00:07:19.889 --> 00:07:20.989 I get the urge. 00:07:21.199 --> 00:07:23.409 And as I said, I still have the urge. 00:07:23.459 --> 00:07:25.019 There's a course that I have in my head right now. 00:07:25.019 --> 00:07:27.559 I'll talk about it in a few minutes and I'll talk about what I think 00:07:27.559 --> 00:07:31.679 its challenges are, but I want you to know, I acknowledge the urge. 00:07:31.779 --> 00:07:36.129 Here's the single biggest challenge with courses that I probably said in the 00:07:36.130 --> 00:07:41.850 early episodes of this show, but I cannot remember courses are cheap to produce. 00:07:43.805 --> 00:07:46.575 Information is abundant and cheap. 00:07:47.705 --> 00:07:53.184 Packaging abundant, cheap information as a course is an inexpensive thing to do. 00:07:54.975 --> 00:08:00.035 Many, many, many, many millions of people have the ability, they 00:08:00.035 --> 00:08:05.115 have the resources to take abundant information and package it as a course. 00:08:05.985 --> 00:08:10.924 Even if you spend 10, 000 on a website and 5, 000 on videos and 00:08:10.924 --> 00:08:15.735 5, 000 on photography and 5, 000 on copy and et cetera, et cetera. 00:08:15.785 --> 00:08:24.545 Even if you go all in 20, on a course, In the production of it, you will 00:08:24.545 --> 00:08:30.165 then realize that many millions or at least many hundreds of thousands 00:08:30.165 --> 00:08:36.464 of people have the ability to spend 25 on the production of a course. 00:08:38.664 --> 00:08:41.275 So that's not a high barrier to entry. 00:08:44.724 --> 00:08:48.055 Of course, you don't have to spend 25 on the production of a course. 00:08:48.075 --> 00:08:51.915 I'm speaking at the upper limit of what I think many of us would believe 00:08:52.135 --> 00:08:54.355 to be reasonable to make the point. 00:08:55.265 --> 00:08:58.935 The point being it's easy and cheap to make a course. 00:08:58.965 --> 00:09:03.635 And since it's easy and cheap in production, then all of the 00:09:03.635 --> 00:09:06.725 competition will be in distribution. 00:09:07.255 --> 00:09:09.295 It will be in the sale of the thing. 00:09:10.455 --> 00:09:15.225 Courses have a high appeal to the maker, to the producer, because they're 00:09:15.225 --> 00:09:21.155 perceived to be high leverage and scalable and either passive or semi passive. 00:09:21.355 --> 00:09:25.575 So lots of people Have the idea that making courses would be 00:09:25.575 --> 00:09:26.785 a great way to make a living. 00:09:27.595 --> 00:09:32.865 But since it's cheap to make them, and since many people want to make and 00:09:32.865 --> 00:09:38.724 sell them, the supply and demand here means that we have a high supply of 00:09:38.724 --> 00:09:42.785 courses and a high demand for customers. 00:09:43.470 --> 00:09:45.230 We're the ones demanding customers. 00:09:45.650 --> 00:09:49.220 And if we're demanding customers, we're bidding up the price. 00:09:49.910 --> 00:09:52.020 We're making customers more expensive. 00:09:52.360 --> 00:09:56.389 That's why over time in open auctions, well, they're not open, 00:09:56.389 --> 00:10:00.260 but in auction environments like the Facebook ads environment, maybe 00:10:00.260 --> 00:10:02.020 also the TikTok ads environment. 00:10:02.020 --> 00:10:03.219 I don't know anything about TikTok. 00:10:03.360 --> 00:10:04.600 I know nothing about Facebook. 00:10:04.600 --> 00:10:09.950 I know even less about TikTok, but in an auction environment, Ish environment, 00:10:12.430 --> 00:10:16.590 the demand for customers, the demand for attention will drive 00:10:16.590 --> 00:10:17.970 up the price of advertising. 00:10:20.450 --> 00:10:22.239 So it's easy to produce a course. 00:10:22.259 --> 00:10:27.539 It's hard to sell a course because lots and lots of people want to sell courses. 00:10:29.940 --> 00:10:34.580 So all of the cost of a course driven business is in the marketing 00:10:34.760 --> 00:10:35.790 and not in the production. 00:10:37.240 --> 00:10:38.480 It's a hard business. 00:10:38.530 --> 00:10:42.805 Even when you have the best production values in the world, a 00:10:42.805 --> 00:10:46.365 few years ago, I had a membership to that masterclass thing. 00:10:46.415 --> 00:10:52.464 It was given to me, an annual membership was given to me, and I probably watched 00:10:52.465 --> 00:10:54.375 one or two of the masterclasses. 00:10:54.825 --> 00:10:55.635 And they were great. 00:10:55.645 --> 00:10:57.355 The production value was amazing. 00:10:57.965 --> 00:11:02.305 And knowing the very little bit I do about video production, just through 00:11:02.564 --> 00:11:08.035 friends in the coaching industry, I know that that production for something like 00:11:08.054 --> 00:11:14.085 masterclass would be massively, enormously expensive on the production side. 00:11:14.144 --> 00:11:17.064 I just got done telling you it's cheap to produce these, but I'm using 00:11:17.064 --> 00:11:20.994 them as an example where they're kind of maxing out the production cost. 00:11:21.804 --> 00:11:26.664 They've got celebrities as they're, as they're, as they're featured experts. 00:11:26.834 --> 00:11:28.074 I don't know how they pay them. 00:11:28.074 --> 00:11:29.224 I don't know if it's revenue sharing. 00:11:29.224 --> 00:11:30.514 I don't know if it's upfront fees. 00:11:30.714 --> 00:11:33.604 I have to imagine that masterclass is venture backed. 00:11:33.624 --> 00:11:35.394 They must be taking investment money. 00:11:36.534 --> 00:11:39.014 Their advertising budget must be enormous. 00:11:39.014 --> 00:11:43.824 There was a season during which you You couldn't get anywhere online 00:11:43.834 --> 00:11:45.494 without seeing a masterclass ad. 00:11:47.764 --> 00:11:52.014 So the margins in that business, I promise you, the margins are tough. 00:11:52.804 --> 00:11:56.534 And one of the ways I know the margins must be tough in that business. 00:11:56.919 --> 00:12:01.109 And that business must be a grind is that since I've been a member of their 00:12:01.109 --> 00:12:06.449 thing, I get their emails still, I haven't unsubscribed and the emails I get 00:12:06.449 --> 00:12:08.619 from them are mostly about two things. 00:12:08.919 --> 00:12:12.329 Number one, what a great gift masterclasses. 00:12:13.049 --> 00:12:15.269 And by the way, did you know there's a sale going on? 00:12:15.689 --> 00:12:17.139 It's a Memorial day sale. 00:12:17.139 --> 00:12:18.409 It's a holiday sale. 00:12:18.409 --> 00:12:19.819 It's a father's day sale. 00:12:19.829 --> 00:12:22.169 This is the best thing to give your dad on father's day. 00:12:23.439 --> 00:12:25.419 If it's being marketed as a gift. 00:12:26.279 --> 00:12:26.949 Primarily. 00:12:27.459 --> 00:12:31.959 And if it's being marketed with frequent and significant discounts, 00:12:32.379 --> 00:12:34.199 that means it's a hard business. 00:12:35.069 --> 00:12:39.399 That means the intrinsic demand for the Netflix of personal 00:12:39.399 --> 00:12:43.389 development, which is what I perceive it to be is comparatively low. 00:12:44.119 --> 00:12:47.709 And that that demand has to be manufactured in the 00:12:47.709 --> 00:12:48.979 form of telling people. 00:12:50.229 --> 00:12:52.489 Hey, this is the perfect thing to give dad on father's day. 00:12:54.719 --> 00:12:57.409 So now the product isn't even about the content. 00:12:57.829 --> 00:13:01.969 The product is about, let me make your gift giving easier. 00:13:04.109 --> 00:13:10.259 Courses, in my opinion, are most appealing to course creators and 00:13:10.259 --> 00:13:12.430 least appealing to course buyers. 00:13:14.279 --> 00:13:17.269 That's why there is a glut of courses in the world. 00:13:19.804 --> 00:13:23.934 And it's not quite clear to me who is consuming and 00:13:23.944 --> 00:13:25.204 benefiting from these courses. 00:13:25.204 --> 00:13:27.044 Now, there is a specific personality. 00:13:28.084 --> 00:13:30.684 , I have friends and I have clients who fit this personality. 00:13:32.394 --> 00:13:33.944 I call them the straight A student. 00:13:36.424 --> 00:13:39.354 That's not a pejorative . I wasn't a straight A student, but I have great 00:13:39.694 --> 00:13:43.184 respect for people who can get themselves to do the work of getting the straight 00:13:43.184 --> 00:13:47.394 A's, both the literal straight A's and also the metaphorical straight A's. 00:13:48.934 --> 00:13:50.474 They will consume courses. 00:13:50.524 --> 00:13:52.154 They will go through every module. 00:13:52.204 --> 00:13:53.774 They will complete every worksheet. 00:13:54.754 --> 00:13:59.584 They love courses and they benefit massively from courses, both directly 00:13:59.664 --> 00:14:04.434 from the information that they gain and indirectly from the entertainment 00:14:04.434 --> 00:14:06.084 value they get from that process. 00:14:08.344 --> 00:14:10.894 But the rest of us don't really care that much about courses. 00:14:11.124 --> 00:14:14.024 We might buy courses, but we're probably not going to complete them. 00:14:16.404 --> 00:14:19.894 And if we buy a course at all, it's probably going to be so specific 00:14:19.894 --> 00:14:27.204 to a problem that we face, that we will get from it what we want. 00:14:29.249 --> 00:14:32.409 But we don't care that much about completion and we don't care that 00:14:32.409 --> 00:14:35.769 much about the next course I've bought a couple of courses in my 00:14:35.769 --> 00:14:38.029 life that were incredibly impactful. 00:14:38.649 --> 00:14:44.239 I would call myself an intermediate software developer after five or six years 00:14:44.239 --> 00:14:49.709 of practice One of the main things that unlocked me on that path to building that 00:14:49.709 --> 00:14:57.844 skill Was a course for which I paid 300 that finally organized the principles of 00:14:57.844 --> 00:15:04.204 programming in such a way that I could actually start to practice meaningfully. 00:15:05.024 --> 00:15:07.954 And as I was able to practice meaningfully, now I've been able 00:15:07.954 --> 00:15:11.964 to build things that are incredibly useful to me in my business. 00:15:12.784 --> 00:15:14.854 That course was not worth 300 to me. 00:15:14.854 --> 00:15:17.924 It was probably worth 30, 000 to me. 00:15:19.044 --> 00:15:21.744 I think about courses like my friend, Jenny Lakeman. 00:15:22.529 --> 00:15:27.569 Has a course about helping people set up their first website. 00:15:28.509 --> 00:15:31.599 I'll admit I haven't looked at the course, but I know Jenny well, and 00:15:31.599 --> 00:15:33.889 there's no way that Jenny would produce anything that wasn't great. 00:15:33.909 --> 00:15:37.209 You should go to Jenny Lakeman, Google her Jenny Lakeman. 00:15:37.209 --> 00:15:37.459 com. 00:15:37.459 --> 00:15:38.019 Sorry, Jenny. 00:15:38.019 --> 00:15:39.349 I don't know your website off the top of my head. 00:15:39.349 --> 00:15:40.529 It's probably Jenny Lakeman. 00:15:40.529 --> 00:15:40.819 com. 00:15:41.539 --> 00:15:42.799 She sells this course. 00:15:42.899 --> 00:15:44.379 I have no doubt of its value. 00:15:44.559 --> 00:15:46.729 I'm not going to say it's priced because the price might change. 00:15:47.879 --> 00:15:50.609 I have no doubt that that course would unlock people who want 00:15:50.609 --> 00:15:51.919 to set up their first website. 00:15:52.459 --> 00:15:57.639 These kinds of things have incredible and immediate value. 00:15:58.569 --> 00:16:00.559 They're relatively easy to consume. 00:16:00.959 --> 00:16:02.889 They're relatively easy to implement. 00:16:03.954 --> 00:16:05.674 They're relatively inexpensive. 00:16:05.774 --> 00:16:10.374 300 for the course that I bought was not inexpensive. 00:16:10.374 --> 00:16:11.824 It wasn't 47, 00:16:12.764 --> 00:16:15.784 but 300 was still an amount of money that I could and would spend to 00:16:15.784 --> 00:16:18.294 solve a painful problem in my life. 00:16:18.614 --> 00:16:21.324 The thing about most courses is that they're expensive in 00:16:21.334 --> 00:16:23.024 time and effort to consume. 00:16:25.744 --> 00:16:30.044 So even the course that I paid 300 for that unlocked me in my, in my desire 00:16:30.044 --> 00:16:31.594 to be able to build my own software. 00:16:32.314 --> 00:16:34.904 I bet I only consumed 30 percent of that course. 00:16:35.524 --> 00:16:38.724 I got in there, I watched just enough videos and I saw just enough 00:16:38.724 --> 00:16:42.134 examples that I could springboard off of one or two of those examples 00:16:42.434 --> 00:16:44.894 and finally get into my own practice. 00:16:45.034 --> 00:16:47.714 From there, I did not care about watching the rest of the videos. 00:16:47.744 --> 00:16:49.174 I don't like to watch videos. 00:16:49.994 --> 00:16:51.014 It's too time consuming. 00:16:51.014 --> 00:16:51.724 It's boring. 00:16:52.734 --> 00:16:55.924 And the retention on a video is not going to be great. 00:16:56.134 --> 00:16:57.484 Learning is about practice. 00:16:59.204 --> 00:17:05.794 Courses are mostly expensive to the user because there's so much video to 00:17:05.794 --> 00:17:07.144 watch and there's so much to implement. 00:17:07.934 --> 00:17:13.934 The one course that I created in 2016 or 2017 was a guide 00:17:13.934 --> 00:17:15.204 to doing your own bookkeeping. 00:17:17.264 --> 00:17:22.274 I think it was five hours of video about bookkeeping. 00:17:23.324 --> 00:17:25.594 What was I thinking? 00:17:27.939 --> 00:17:32.039 I, I don't know how many, I probably sold 50 of those total. 00:17:32.859 --> 00:17:37.339 And through my video host, I had the stats on the view counts on the videos. 00:17:37.859 --> 00:17:42.099 , you can guess what the view counts on the videos at the end of that course were. 00:17:42.759 --> 00:17:43.879 They were zero. 00:17:43.979 --> 00:17:46.569 No one got to those last videos. 00:17:47.074 --> 00:17:48.654 What was I thinking? 00:17:49.014 --> 00:17:50.114 Well, I know what I was thinking. 00:17:50.114 --> 00:17:51.024 I was well intentioned. 00:17:51.024 --> 00:17:53.304 I was trying to create something thorough. 00:17:53.904 --> 00:17:57.544 I could have charged exactly the same price, but given 10 percent of the 00:17:57.544 --> 00:18:02.424 information and said, this is the 10 percent that benefits you, that 00:18:02.424 --> 00:18:05.404 springboards you into knowing what you need to know about your bookkeeping. 00:18:05.404 --> 00:18:07.614 So you either do it yourself or you hire somebody. 00:18:08.634 --> 00:18:11.744 I've got a million little technicalities that I could teach you, but I'm 00:18:11.744 --> 00:18:13.214 not going to teach you those. 00:18:13.709 --> 00:18:18.669 until you absolutely know that you want to be in this and doing it for yourself. 00:18:18.969 --> 00:18:22.479 In the meantime, watch, instead of these five hours of video, watch this 00:18:22.489 --> 00:18:27.519 30 minutes of video, and then you can decide what you want to do from there. 00:18:29.299 --> 00:18:31.349 Courses are enormously expensive to consume. 00:18:33.059 --> 00:18:36.129 That's why they're intrinsically not that appealing. 00:18:37.659 --> 00:18:42.169 To the person who doesn't want to consume courses, people who just want results. 00:18:42.199 --> 00:18:44.379 Courses are not the best way to get those results. 00:18:44.859 --> 00:18:45.789 I hate to say it. 00:18:47.399 --> 00:18:49.139 Consumability is a big deal. 00:18:50.709 --> 00:18:53.649 When it comes to consumability, you're competing with podcasts 00:18:53.739 --> 00:18:55.299 and you're competing with YouTube. 00:18:57.069 --> 00:19:00.999 Email to a lesser extent, but you're competing with podcasts and YouTube 00:19:00.999 --> 00:19:05.269 podcasts and YouTube are a near frictionless consumption environment. 00:19:06.039 --> 00:19:12.629 If I have to now get off those platforms, go to a Kajabi website, find the website, 00:19:12.759 --> 00:19:17.189 log into the website, find my place in your course and continue to consume it. 00:19:17.629 --> 00:19:19.499 I don't think that happens very often. 00:19:20.799 --> 00:19:21.139 Okay. 00:19:22.519 --> 00:19:24.139 Let me tell you about my course idea. 00:19:24.219 --> 00:19:29.579 And we'll kind of beat up on this so as you decide to act on or 00:19:29.579 --> 00:19:34.489 not act on your urge to create a course, Maybe you'll do things in 00:19:34.489 --> 00:19:36.179 a little bit more clear eyed way. 00:19:36.659 --> 00:19:38.259 The course that I want to create. 00:19:39.689 --> 00:19:42.039 Is one about online business models. 00:19:43.909 --> 00:19:46.779 The difference between this course and others is that most courses 00:19:46.779 --> 00:19:50.769 in this area are about how to make money with X, how to succeed with X. 00:19:52.234 --> 00:19:55.134 I mostly don't think those work , but even if they do work, I think that 00:19:55.134 --> 00:20:01.434 they're an incomplete solution because even if you can tell someone how to 00:20:01.434 --> 00:20:05.464 make money with X, you haven't answered the question of whether they want to, 00:20:08.084 --> 00:20:11.294 whether the thing that you're teaching is in any way well suited to them or 00:20:11.294 --> 00:20:14.724 whether what you've done is just taking your own particular set of skills and 00:20:14.724 --> 00:20:19.594 neuroses and combine them into a workflow that works for you and may also work 00:20:19.594 --> 00:20:24.334 for people who are very much like you, but for everyone else, it will be. 00:20:25.549 --> 00:20:26.819 An upstream swim. 00:20:28.779 --> 00:20:33.179 I want to create a course that says I have been in this game 00:20:33.179 --> 00:20:37.829 now for, Oh man, 20 years, 2004. 00:20:38.019 --> 00:20:40.259 I've been doing this for 20 years. 00:20:41.479 --> 00:20:41.959 Wow. 00:20:42.119 --> 00:20:42.569 Okay. 00:20:43.029 --> 00:20:43.639 That's weird. 00:20:44.659 --> 00:20:46.519 I've been doing this for 20 years. 00:20:46.984 --> 00:20:51.224 In those 20 years, I've seen every business model. 00:20:52.024 --> 00:20:54.514 I've seen most of them from the inside. 00:20:55.424 --> 00:20:57.274 So if you're a person who's trying to figure out how to 00:20:57.274 --> 00:20:59.224 make an independent income, 00:21:01.364 --> 00:21:02.604 maybe you're happy to have a job. 00:21:02.614 --> 00:21:03.944 Maybe you want to have a side hustle. 00:21:03.944 --> 00:21:05.924 Maybe you want to get out of your job, whatever. 00:21:06.734 --> 00:21:09.634 I'm not going to tell you what to do or how to do it 00:21:09.644 --> 00:21:12.224 because that's mostly baloney. 00:21:12.594 --> 00:21:17.574 What I'm going to do is say, here's how the world actually works. 00:21:20.664 --> 00:21:26.984 Here are the business models that exist in the world, particularly the online world. 00:21:27.964 --> 00:21:31.954 Here are the principles that drive success in those models. 00:21:33.254 --> 00:21:38.344 Here are the personalities that tend to thrive in those models. 00:21:41.309 --> 00:21:42.759 I want to make that course. 00:21:43.039 --> 00:21:43.829 Now, here's the thing. 00:21:43.909 --> 00:21:48.464 I don't know whether that course is appealing It's not a result 00:21:48.474 --> 00:21:51.334 driven course in the way that we think about courses usually. 00:21:51.344 --> 00:21:54.434 So it's not get 10, 000 Instagram followers. 00:21:54.644 --> 00:21:57.904 It's not make a thousand dollars a month using X. 00:21:58.134 --> 00:21:59.754 It's not those things. 00:22:00.014 --> 00:22:03.034 , it's two or three steps back from that where someone says, ah, I 00:22:03.064 --> 00:22:08.164 really would like to make an extra 500 a month or 5, 000 a month. 00:22:08.864 --> 00:22:13.679 And it's me saying, Yeah, I know how that happens, which is different 00:22:13.679 --> 00:22:15.359 than, I know what you should do. 00:22:16.049 --> 00:22:20.799 I know how it happens is me inviting you into 20 years, apparently, 20 00:22:20.809 --> 00:22:24.609 years of experience of saying, here are the models that exist in the world. 00:22:26.809 --> 00:22:30.819 Let me give you my thoughts on how those models work and who 00:22:30.829 --> 00:22:32.469 the people are that work them. 00:22:33.209 --> 00:22:35.269 And then you can decide what might be the best fit for you 00:22:35.269 --> 00:22:36.299 and for your way of being. 00:22:38.079 --> 00:22:40.399 I think that could be appealing, but I don't know. 00:22:41.824 --> 00:22:44.124 But the truth is that's not even the right question. 00:22:44.644 --> 00:22:51.034 The right question when it comes to a course is not, Is it appealing? 00:22:51.534 --> 00:22:53.484 It's not, Would people buy it? 00:22:54.414 --> 00:22:57.514 That's not an invalid question, but it's not the best question. 00:22:57.524 --> 00:23:03.194 The better questions sound like this, Who would be entertained by it? 00:23:04.124 --> 00:23:08.564 Courses, I would say, are at least 51 percent entertainment. 00:23:10.554 --> 00:23:13.214 If you don't have an entertainment mindset going into the creation of a 00:23:13.214 --> 00:23:18.044 course, I think you're kind of sunk that masterclass business has done a good job. 00:23:18.464 --> 00:23:21.154 Of acknowledging that above all people want to be entertained. 00:23:21.604 --> 00:23:23.514 Entertainment can look like inspiration. 00:23:23.514 --> 00:23:28.084 It can look like knowledge acquisition, but it's got to be entertaining. 00:23:28.094 --> 00:23:33.164 So when I think about my course, I think, well, who would be entertained 00:23:33.234 --> 00:23:37.314 by a conversation about online business models,, by a walk through 00:23:37.315 --> 00:23:40.584 the world of online business models, who would be entertained by it, 00:23:43.594 --> 00:23:46.504 who would look smarter for having purchased it. 00:23:46.979 --> 00:23:49.009 We humans were very reliable. 00:23:49.009 --> 00:23:50.119 We're very predictable. 00:23:51.019 --> 00:23:54.499 How does a person's status increase by buying my course? 00:23:56.379 --> 00:24:00.139 How do they look smarter , in what situations will they be able to look 00:24:00.139 --> 00:24:04.799 smarter and look more put together because they've purchased my course? 00:24:05.869 --> 00:24:06.899 That's a good question. 00:24:09.769 --> 00:24:13.199 A really good question is who would benefit from selling this? 00:24:15.189 --> 00:24:17.379 For example, in this course, I would talk about the fact that. 00:24:17.914 --> 00:24:23.984 Among the personality types, there's the, the driven, the hunter, the achiever. 00:24:25.524 --> 00:24:27.574 These are the people who go out and sell tons of courses. 00:24:28.654 --> 00:24:31.094 They mostly sell courses about selling courses. 00:24:32.074 --> 00:24:33.394 Let's all appreciate the irony, 00:24:34.514 --> 00:24:37.844 but they are driven in a way that I have never shown myself to be. 00:24:38.689 --> 00:24:41.729 So if I'm going to create a course, the first question is not 00:24:41.739 --> 00:24:43.149 what's going to be in the course. 00:24:43.749 --> 00:24:49.639 The first question is who would be excited to sell this course because it ain't me. 00:24:52.999 --> 00:24:53.879 I want to make the course. 00:24:53.899 --> 00:24:55.139 I want to think about the ideas. 00:24:55.149 --> 00:24:56.309 I want to organize it. 00:24:57.609 --> 00:24:59.479 I'm not going to set up funnels. 00:25:00.449 --> 00:25:06.209 I don't know what amount of money you'd have to put in my bank account to get me 00:25:06.209 --> 00:25:08.569 to want to think about marketing funnels. 00:25:08.699 --> 00:25:13.149 It's a large amount of money, huge amount of money, because I 00:25:13.159 --> 00:25:15.139 have no interest and no desire. 00:25:15.739 --> 00:25:18.399 So for me, if I'm going to create a course, I have to ask myself the 00:25:18.399 --> 00:25:21.219 question, who wants to sell this? 00:25:22.849 --> 00:25:24.779 Why would they want to sell it? 00:25:25.669 --> 00:25:29.229 Especially if courses are cheap to produce, why would they 00:25:29.229 --> 00:25:31.949 want to sell my course instead of selling their own course? 00:25:32.119 --> 00:25:33.569 And then I've got to answer that question. 00:25:34.729 --> 00:25:37.989 Well, they might really believe in me. 00:25:37.999 --> 00:25:42.059 They might think that I'm uniquely able to talk about the thing I'm talking about. 00:25:42.449 --> 00:25:46.729 Their perception would have to be that it's more expensive for them to 00:25:46.729 --> 00:25:52.169 produce this particular course than for them to have me do it so . There's 00:25:52.169 --> 00:25:53.499 some arbitrage there for them. 00:25:53.499 --> 00:25:56.239 There's a leverage there for them where they say, I don't 00:25:56.239 --> 00:25:57.179 want to make that course. 00:25:57.179 --> 00:25:59.329 And I don't think I could make the course as well as Mark can. 00:25:59.329 --> 00:26:02.159 So I'm going to have Mark make the course and then I'm going to sell it. 00:26:02.169 --> 00:26:04.079 That's the thing I'm excited about anyway. 00:26:05.009 --> 00:26:06.879 And then you look at, well, how do we split up the revenue? 00:26:06.879 --> 00:26:11.099 Well, I just got done telling you that courses are cheap to 00:26:11.099 --> 00:26:12.459 produce and expensive to sell. 00:26:12.459 --> 00:26:14.639 So the revenue share would need to reflect that. 00:26:15.909 --> 00:26:21.289 It would need to reflect that they're doing the hard part in selling it. 00:26:21.559 --> 00:26:23.799 So they're going to get paid more per dollar than I am. 00:26:24.139 --> 00:26:25.059 That's appropriate. 00:26:25.059 --> 00:26:25.179 Okay. 00:26:27.360 --> 00:26:29.190 Who is excited to sell this? 00:26:29.630 --> 00:26:31.310 Now, many of you will hear that and say, oh yeah, I'm going to 00:26:31.320 --> 00:26:32.510 set up an affiliate program. 00:26:32.610 --> 00:26:34.510 That's not what I'm talking about. 00:26:34.910 --> 00:26:38.620 You might set up an affiliate program, but if you set up an affiliate 00:26:38.620 --> 00:26:41.760 program with some simple software that you can plug into your website, 00:26:41.960 --> 00:26:45.890 you have not solved your problem because you still lack demand. 00:26:46.140 --> 00:26:47.310 What is the lack of demand? 00:26:47.310 --> 00:26:51.680 The lack of demand is no one knows about or cares about your affiliate 00:26:51.680 --> 00:26:53.500 program and they have no reason to. 00:26:54.060 --> 00:26:56.360 So you're still having to do some selling. 00:26:57.150 --> 00:27:01.350 The idea is that you may have to make fewer sales because you're selling a 00:27:01.350 --> 00:27:03.970 distributor instead of selling a user. 00:27:04.540 --> 00:27:08.890 That would look like me working my network and going to them and saying, I could 00:27:08.890 --> 00:27:13.120 probably name three right now that I might go to and say, how I want to make this. 00:27:13.620 --> 00:27:18.510 Do you want to do like an 80, 20, 80 to you, 20 to me, or 90 to you, 10, 10 to 00:27:18.510 --> 00:27:21.660 me, maybe, or a hundred to use zero to me. 00:27:22.360 --> 00:27:25.090 Because there might be a scenario where that's the most advantageous thing for 00:27:25.100 --> 00:27:29.470 me to do, which is to have them take all the revenue from the course and I get. 00:27:29.965 --> 00:27:31.255 Non revenue benefits. 00:27:33.275 --> 00:27:34.975 I've got to go make those sales. 00:27:35.345 --> 00:27:36.315 Why is that appealing? 00:27:36.325 --> 00:27:39.405 Because it's more of a relationship driven sale, which is the thing I 00:27:39.405 --> 00:27:41.915 like anyway, and it's fewer sales. 00:27:41.925 --> 00:27:43.645 So there's no funnel to be set up. 00:27:43.645 --> 00:27:46.855 There's just me going to work my network and try to figure out how 00:27:46.855 --> 00:27:51.065 to make it advantageous for them to distribute the thing that I've made. 00:27:52.965 --> 00:27:55.965 That's a better question than how do I set up Facebook ads? 00:27:55.975 --> 00:27:57.225 For me, that's a better question. 00:27:57.425 --> 00:28:00.145 For some of you, the better question will be, how do I set up Facebook ads? 00:28:01.255 --> 00:28:02.865 These are the fundamental pieces. 00:28:03.375 --> 00:28:05.925 Number one, do I think that I have something to say? 00:28:06.635 --> 00:28:08.065 Yes, I definitely do. 00:28:09.555 --> 00:28:15.165 After 20 years in the world of online business in almost every business 00:28:15.165 --> 00:28:20.755 model you can think of, or having access to a person who has implemented 00:28:20.895 --> 00:28:22.545 every business model you can think of. 00:28:22.865 --> 00:28:27.335 I think I am uniquely able to tell an entertaining story 00:28:27.415 --> 00:28:28.885 about online business models. 00:28:30.625 --> 00:28:31.835 That question is answered. 00:28:34.005 --> 00:28:37.165 There is the production of the course, which for me, I would, I would 00:28:37.165 --> 00:28:42.850 probably have to get help because I only do content production Two ways. 00:28:43.110 --> 00:28:46.430 One is almost like hot potato where I sit down in front of this microphone 00:28:46.430 --> 00:28:49.680 and I just talk for 30 minutes and then I got, I got to get it out of my hands. 00:28:49.720 --> 00:28:51.150 That's how I do content production. 00:28:51.980 --> 00:28:56.950 Or I try to do something more thoughtful and purposeful, in which case I way 00:28:56.990 --> 00:29:02.410 overthink and then years go by as the thing expands and expands and expands. 00:29:02.410 --> 00:29:04.740 And instead of trying to create a course about online business model, 00:29:05.370 --> 00:29:10.750 I am attempting to rewrite the entire internet in all of its detail. 00:29:11.065 --> 00:29:13.245 Before I will actually put the thing out into the world. 00:29:13.605 --> 00:29:15.825 I only seem to work on these two speeds. 00:29:15.825 --> 00:29:20.735 I would need help at finding the middle ground, the middle ground being, okay, 00:29:20.735 --> 00:29:23.765 we're not going to rush it out into the world, but we're also not going 00:29:23.765 --> 00:29:27.085 to overthink and overcomplicate it so that it never gets into the world. 00:29:27.355 --> 00:29:28.355 There's a middle way. 00:29:28.385 --> 00:29:31.065 And I would need help because I don't, I don't do the middle way. 00:29:31.245 --> 00:29:32.615 I've never done it yet anyway. 00:29:33.855 --> 00:29:37.735 And then there's distribution and the distribution would be me going to my 00:29:37.735 --> 00:29:39.725 network and saying, I've got this thing. 00:29:40.935 --> 00:29:41.775 Do you want to sell it? 00:29:41.995 --> 00:29:42.925 Now let's talk about that. 00:29:43.475 --> 00:29:48.725 A minute ago, I said, maybe there's a scenario where the split is 00:29:48.725 --> 00:29:52.295 somewhere between 80, 20, 80 to the distributor, 20 to the course creator. 00:29:52.295 --> 00:29:56.195 That's me or a hundred zero where a hundred percent of the revenue, 00:29:56.905 --> 00:29:59.465 maybe less merchant fees and refunds. 00:30:00.225 --> 00:30:02.945 So a hundred percent of the net revenue after merchant fees and 00:30:02.945 --> 00:30:07.415 refunds goes to the distributor and, and 0 percent goes to me. 00:30:08.875 --> 00:30:12.065 Well, how does that benefit me audience? 00:30:12.565 --> 00:30:13.685 That's how it benefits me. 00:30:16.130 --> 00:30:20.650 The more people who know, like, and trust me, the better off I am in 00:30:20.650 --> 00:30:25.920 the long run, having a large enough and large enough could be 300. 00:30:25.920 --> 00:30:26.830 It could be 3000. 00:30:26.830 --> 00:30:33.500 It could be 30, 000 people who like, and trust me will drive my ability to succeed 00:30:33.510 --> 00:30:36.470 in everything that I do in business. 00:30:37.880 --> 00:30:41.280 So it probably makes sense for me to do one of a couple of things 00:30:43.430 --> 00:30:46.290 to work with my network and pay them the vast majority, 00:30:46.290 --> 00:30:47.890 maybe even all of the revenue. 00:30:48.440 --> 00:30:53.590 Of the sale of the course, or to do this differently and to make the course free 00:30:55.870 --> 00:31:00.440 and to advertise the free thing, not as a freebie, uh, freebies 00:31:00.880 --> 00:31:06.930 gross, but as a, as a thing that is worth real money because it's got 00:31:06.930 --> 00:31:08.600 relatively high production values. 00:31:09.620 --> 00:31:11.750 It's actually useful 00:31:13.010 --> 00:31:14.370 and it's consumable. 00:31:15.525 --> 00:31:17.015 I make it a standalone thing. 00:31:17.565 --> 00:31:21.635 I build it as though I intended to sell it for a hundred or a thousand dollars. 00:31:22.110 --> 00:31:27.260 And then instead I make it free, but then I still pay to promote it either 00:31:27.260 --> 00:31:30.840 with that same network where I say, Hey, can I pay you to promote this? 00:31:32.150 --> 00:31:38.170 Or I do sponsorships where I, I go out in the world and I, I, I sponsor 00:31:38.360 --> 00:31:42.070 groups of coaches or communities, or I don't know exactly, but I do 00:31:42.070 --> 00:31:43.840 sponsorships to try to drive traffic 00:31:46.420 --> 00:31:48.010 to this free thing that I've created. 00:31:49.260 --> 00:31:54.020 The idea being I have to know what my goal is. 00:31:55.780 --> 00:31:57.460 If my goal is to have the course. 00:31:58.075 --> 00:31:59.725 Actually make me a lot of money. 00:32:00.595 --> 00:32:05.185 I will just tell you with 20 years of experience, that is hard. 00:32:08.685 --> 00:32:09.475 Full stop. 00:32:11.755 --> 00:32:18.975 Making profit directly from courses, especially one course is very unusual. 00:32:19.655 --> 00:32:24.165 If a course creator is making profit as a course creator, it's usually 00:32:24.165 --> 00:32:26.405 because they have a suite of courses. 00:32:27.225 --> 00:32:29.295 One is their loss leader. 00:32:29.305 --> 00:32:31.485 They either lose money on it or they break even on it. 00:32:31.495 --> 00:32:35.735 And then their margin all comes from subsequent course sales. 00:32:37.525 --> 00:32:39.965 In my experience, there's not a lot of word of mouth. 00:32:40.405 --> 00:32:45.555 In course creation, there's word of mouth around course platforms like Udemy. 00:32:46.235 --> 00:32:50.125 There's not a lot of word of mouth around courses themselves because 00:32:50.125 --> 00:32:52.015 they're too easy to produce. 00:32:52.735 --> 00:32:55.385 So you do have strong course brands. 00:32:56.045 --> 00:32:57.945 People like Amy Porterfield come to mind. 00:32:58.770 --> 00:33:01.240 Amy Porterfield has a course brand. 00:33:03.090 --> 00:33:04.750 I can't really think of another one. 00:33:06.300 --> 00:33:08.850 So making money directly off the courses is tough. 00:33:08.880 --> 00:33:10.790 You've got to decide what your goal is. 00:33:11.690 --> 00:33:14.950 What is the course's job in your life and in your business? 00:33:14.960 --> 00:33:16.930 Is it to make a lot of money by itself? 00:33:16.930 --> 00:33:17.770 That's going to be hard. 00:33:17.800 --> 00:33:19.880 Is it to build your audience? 00:33:19.910 --> 00:33:21.740 Okay, now this is more feasible. 00:33:23.390 --> 00:33:25.170 You have to know what your intention is going in. 00:33:25.570 --> 00:33:28.250 I will admit that my financial goal for the course. 00:33:29.365 --> 00:33:30.325 Would be lunch money. 00:33:31.675 --> 00:33:35.205 I go out to lunch almost every day in these modern times that adds up. 00:33:35.215 --> 00:33:36.085 It's expensive. 00:33:36.675 --> 00:33:38.565 It kind of annoys me, but I'm not willing to quit. 00:33:38.575 --> 00:33:43.775 So I thought, Oh, if a course could produce lunch money, I'd be 00:33:43.775 --> 00:33:48.115 pretty thrilled with that course, but I'm also admitting my bias. 00:33:48.115 --> 00:33:51.875 And you might say my limited thinking, because I'm not sure I believe a course 00:33:51.875 --> 00:33:56.645 by itself can do a lot better than lunch money for the average person. 00:33:58.885 --> 00:34:03.185 Now I know plenty of clients who drive a lot of top line revenue from courses. 00:34:03.185 --> 00:34:04.835 They may bring in hundreds of thousands. 00:34:05.365 --> 00:34:10.205 Of revenue from courses, but the profit, the amount left over after you pay 00:34:10.205 --> 00:34:15.185 for the team, after you pay for the ads is usually a very small number. 00:34:17.265 --> 00:34:19.135 So you've got to decide what you want the course to do. 00:34:20.105 --> 00:34:23.185 I think most of us feel some amount of urge to create a course. 00:34:23.195 --> 00:34:28.695 I think that siren song will always be playing in my head at this point. 00:34:28.695 --> 00:34:30.275 I just know too much. 00:34:30.495 --> 00:34:36.235 I've seen too much to get very excited about course distribution, 00:34:36.295 --> 00:34:41.515 especially if the goal is to make money, which is a weird thing to say. 00:34:41.515 --> 00:34:42.075 I realize 00:34:44.170 --> 00:34:50.950 If its purpose is audience building, I can get more excited about it, but 00:34:50.950 --> 00:34:56.310 if you're wired like I'm wired at all, trust me, you have no interest 00:34:56.310 --> 00:34:57.780 in the distribution of a course. 00:34:58.520 --> 00:35:05.160 There are people who only want to distribute low production cost 00:35:05.760 --> 00:35:09.829 products like courses like this. 00:35:10.320 --> 00:35:15.940 Memberships like powders, supplements, it's all the same kind of mindset. 00:35:17.190 --> 00:35:17.870 No problem. 00:35:17.930 --> 00:35:18.600 That's great. 00:35:19.000 --> 00:35:24.270 But my point is you're competing with people whose whole desire is to distribute 00:35:24.270 --> 00:35:29.160 the stuff and your desire might be to make the stuff and the people with a 00:35:29.160 --> 00:35:33.120 great desire to make the stuff will always struggle against the people 00:35:33.120 --> 00:35:33.974 whose desire is to distribute the stuff. 00:35:34.265 --> 00:35:38.855 To distribute it because the stuff itself is hard to differentiate. 00:35:40.855 --> 00:35:44.595 And since the stuff itself is hard to differentiate, the differentiation 00:35:44.605 --> 00:35:48.195 all happens in the marketing, which is the place where people like you 00:35:48.195 --> 00:35:50.095 and me just aren't that interested. 00:35:52.175 --> 00:35:54.075 When you have that urge to course create. 00:35:55.700 --> 00:35:59.710 I would encourage you actually to act on that urge at least once or twice. 00:36:00.130 --> 00:36:01.000 It's fun. 00:36:01.220 --> 00:36:02.440 It's challenging. 00:36:03.630 --> 00:36:06.630 The course does become an asset that you can use with your clients. 00:36:06.640 --> 00:36:10.360 It can be an asset that you use to inspire other content creation. 00:36:10.640 --> 00:36:15.110 If you do have a potential distribution network, you can use the asset to pay your 00:36:15.110 --> 00:36:16.440 network to raise, to raise your revenue. 00:36:16.785 --> 00:36:18.435 Your visibility in the world. 00:36:18.905 --> 00:36:23.505 I would say act on it at least once or twice, go in with your eyes wide open. 00:36:24.625 --> 00:36:29.425 You're probably not going to pay for your family's trip to Hawaii next year 00:36:30.385 --> 00:36:32.665 with the proceeds from your course. 00:36:33.035 --> 00:36:37.055 You're just probably not going to, but there are other benefits to be had. 00:36:38.225 --> 00:36:39.145 And with that, 00:36:41.295 --> 00:36:41.855 good night, Mark. 00:36:41.865 --> 00:36:42.415 Well done. 00:36:43.585 --> 00:36:46.825 I'll most likely kill you in the morning and talk to you next time.