In 2020 on Teachable:

2 creators made over $10,000,000

56 creators made over $1,000,000
823 creators made over $100,000

What do the top course creators have in common? πŸ§΅πŸ‘‡
πŸ—£ They share what they know for free.

They spend countless hours creating free content and demonstrating value to establish domain authority, credibility, and earn trust.
πŸ“š They focus relentlessly on the student experience.

They create raving fans who won't shut up about their course. Satisfied students don't recommend courses, transformed ones do. Student referrals become one of their best marketing channels.
🏘 They build communities.

Building an audience is table stakes, but an audience is not a community. Top creators build groups of super fans who engage with and support each other.
πŸ’Έ They figure out their marketing machine.

They test channels and formats, know their numbers, figure out what works, and create ROI positive marketing funnels.
🎳 They create a portfolio of products.

They capture more revenue from their customers by offering multiple complementary products and pricing tiers.
⛹️‍♂️ They leverage a team.

At this level, almost no one is operating alone. They scale through help from assistants, course managers, contractors, coaches, partners, and even alumni students.
They persist.

Establishing credibility, iterating on course content, building community, developing effective marketing strategies, creating new products, hiring a team. All this takes a ton of time and effort, but it compounds. They've been at it for years.
Most of all, they're more passionate about WHAT they're doing and WHO they're doing it for than anyone else.

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More from @ryangum

1 Feb
Common sentiment is that "audience-first" is the correct approach:
Create content, gain attention, build something for your new audience, sell it, and celebrate your new found success.

But if you're starting from scratch today, is that your only path? πŸ§΅πŸ‘‡ Image
Audience-first: Build an audience before building a product.

Product-first: Build a product before building an audience.
But there's another option that can give you even better results:

Build both at the same time.
Read 10 tweets
31 Jan
At @teachable, we help creators measure completion rates.

But completion rates are a proxy metric at best. Track them if you want, but don't let them trick you into thinking students are getting value πŸ§΅πŸ‘‡ Image
Hypothetical 1:

As a student, would you rather consume 100% of a course, or complete 30% of it but find an idea that helps you achieve your goal faster?
Hypothetical 2:

As a course creator, would you rather have 100% of your students complete your course, or have 100% of students actually apply the learnings they got from the course, regardless of their completion rate?

I'm confident you'd pick the latter in both cases.
Read 7 tweets
28 Jan
If you’re building products for creators, you’ll eventually need to generate revenue. VC money or not.

Get familiar with the most common monetization models πŸ§΅πŸ‘‡
🀝 Share of earnings

βˆ™ Aligns incentives between creator & platform.
βˆ™ Harder to monetize creators with low sales.
βˆ™ Creates a graduation problem (successful creators are incentivized to leave).
βˆ™ Platforms negotiate special contracts for top earners to solve this.
Share of earnings examples:

@Patreon
@OnlyFans
@SubstackInc
@BookCameo
Read 8 tweets
27 Jan
In 2020, Building a Second Brain and Write Of Passage had thousands of combined students & $1M+ in revenue.

Not many cohort-based courses are operating at this scale.

Luckily, @fortelabs @david_perell and @will_mannon shared their hard-earned learnings, summarized πŸ§΅πŸ‘‡
On curriculums & live classes:

- "Running a live course is like organizing a music tour, but having to develop the music before every single new show."

- Curriculums aren't set in stone. The advantage of live classes is you can adjust the curriculum to cater to students needs.
- A day or two before every session, they typically spend between seven to nine hours preparing the next lecture.

- How? They have existing building blocks and assets, adjust based on where students are getting confused, and reassembling the blocks into the next lecture.
Read 22 tweets
26 Jan
"I really want to start a side hustle / become a creator / earn income online... But first I need to learn more about [topic]... Then I need to research the best tools... And I'm really busy right now, so I'll start later when things calm down."

Sound familiar? πŸ§΅πŸ‘‡
There's a good chance this is you. And if so, you've probably been telling yourself this same story on repeat for years.

The only thing you're creating is excuses.
But don't worry, you're not actually that far from your dream. You already have the skills, knowledge, and tools you need to make your first dollar online. You just need to take action.

So if you want to stop dreaming, follow this plan:
Read 11 tweets
25 Jan
With a good pre-sale you can validate audience/idea fit with real money in the bank... Before you even create the product.

The secret to a good pre-sale? Treat it like a Kickstarter.
4 examples in the thread πŸ§΅πŸ‘‡ Image
🎯 Set a goal

How many customers / much revenue will you need to continue working on your product? How long will you give it to hit that target? 1-2 weeks at most. Don’t drag it out.
πŸ“„ Create a lean sales page

Don't focus on the design or layout too much. Messaging is what's important. Include:

βˆ™ What the pain point is

βˆ™ Why your product is the solution

βˆ™ What's included. Be specific, e.g. chapter outlines.

βˆ™ Who you are / why you're credible
Read 12 tweets

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