The key to scaling your expertise-based service business is transforming your assets into something you can replicate, and an online course (an e-course) is one way to do that. I had a conversation with Molly Kaiser, who has a decade of experience building, selling, and teaching others the secrets to a good ecourse. In this episode, you will
Molly was super generous with her time and information in a space that I think many experts see as their next step in business. If you are considering your hourly-to-exit journey and want to make sure you are lining up your IP to make key transitions, contact me, and we can discuss how I can help.
Connect with Erin and find the resources mentioned in this episode at hourlytoexit.com/podcast.
Erin's LinkedIn Page: https://www.linkedin.com/in/erinaustin/
Think Beyond IP YouTube Page: https://www.youtube.com/channel/UCVztXnDYnZ83oIb-EGX9IGA/videos
Music credit: Yes She Can by Tiny Music
A Team Dklutr production
Hello, ladies.
Erin Austin:Welcome to the Hourly to Exit podcast.
Erin Austin:Thank you so much for joining me today.
Erin Austin:I am very excited for my guest, Molly Kaiser.
Erin Austin:Welcome,
Erin Austin:Molly.
Molly Keyser:Hello, super excited to be chatting with you today.
Erin Austin:Well, I am very excited as well.
Erin Austin:when I found out about your expertise.
Erin Austin:You know, what I love about this podcast, frankly, and having experts
Erin Austin:on it, is like I get free coaching,
Erin Austin:I get to ask all my questions that I have about these topics, and
Erin Austin:then I'm sure what my questions are, also my audience's questions.
Erin Austin:So it works out perfectly.
Erin Austin:So first, I would like to let you introduce.
Molly Keyser:Yeah.
Molly Keyser:Awesome.
Molly Keyser:So thanks again for having me.
Molly Keyser:Hello everyone.
Molly Keyser:my name's Molly and I'm from Wisconsin.
Molly Keyser:you can probably detect the accent, but I actually live in New Mexico
Molly Keyser:and my business journey, I actually started out as a photographer
Molly Keyser:and I was able to grow that from.
Molly Keyser:81 cents in my pocket to a multiple six figure studio.
Molly Keyser:And so other people started asking me how I did it.
Molly Keyser:And that turned into me doing, coaching and workshops and
Molly Keyser:things like that, which I loved.
Molly Keyser:But I found myself trading just even more of my time for money.
Molly Keyser:So I found out about online courses and I decided to take all that information.
Molly Keyser:Put it into my own online course and kind of the rest is history.
Molly Keyser:so it was very easy for me to fall in love with courses because I was able to gain
Molly Keyser:My time back and also help a lot of people and, grow my wealth at the same time.
Erin Austin:so do
Erin Austin:you still work, uh, do you now only do courses or do you do one-on-one work?
Erin Austin:How do you work with your clients?
Erin Austin:Who are your clients and how do you work?
Erin Austin:With them?
Molly Keyser:Yeah.
Molly Keyser:Great question.
Molly Keyser:So my ideal client is a service provider, like a one-on-one freelancer.
Molly Keyser:I mean, I will work with men, but women are definitely like my ideal client.
Molly Keyser:just because, you know, I was a freelancer trading my time
Molly Keyser:for money with photography.
Molly Keyser:But to answer your question, yes, I.
Molly Keyser:100% do courses.
Molly Keyser:Now, courses have been my full-time income since and I did a little bit
Molly Keyser:of photography, but I have slowly transitioned out of it, because I
Molly Keyser:just really love courses and helping people now turn their knowledge
Molly Keyser:into their own online course
Erin Austin:Now, I mean 20 15, 7 years ago, so things have changed
Erin Austin:a lot technology-wise, I would imagine during that time in, terms
Erin Austin:of being able to create, publish, distribute, monetize courses.
Molly Keyser:Yes.
Molly Keyser:I love this question.
Molly Keyser:I actually haven't been asked this one yet, but I think
Molly Keyser:this is a fantastic question.
Molly Keyser:yeah.
Molly Keyser:So back when I, started courses in like 2014, which, kind of shows you it'd
Molly Keyser:only took me really a year to make it my full-time, which was pretty cool.
Molly Keyser:back then I remember like I had to learn HTML to hand code sections of my website.
Molly Keyser:you know, I'm like the MySpace generation, so, I used to hand code like
Molly Keyser:I marketed on MySpace back in the day.
Molly Keyser:but yeah, so we had to like, hand code websites.
Molly Keyser:It was a lot of WordPress.
Molly Keyser:you know, I was using a software back then, which I think it still does exist
Molly Keyser:today, called Entreport, which is great, but it's just, it's very robust and.
Molly Keyser:There's just a lot more options now, and so I always love when
Molly Keyser:people come to me and they're like, oh, I wanna have an online course,
Molly Keyser:but I feel like I missed the boat.
Molly Keyser:I feel like, it's gonna be so much harder now.
Molly Keyser:And I actually feel and know because I've, started other courses along the way that
Molly Keyser:it's easier now because the technology.
Molly Keyser:Laughably easier , in my opinion.
Molly Keyser:and also people actually know what an online course is now.
Molly Keyser:Like back in the day, not only did I have to educate them about my
Molly Keyser:actual course topic and like why they would wanna purchase it, but
Molly Keyser:I also had to educate them on like, , what is a course how do I log in?
Molly Keyser:You know, these are things that people didn't really understand back then.
Molly Keyser:So, one other thing is if you want data to back up what I just said, if
Molly Keyser:you Google, the e-learning industry, it'll show you that, analysts
Molly Keyser:projected that the e-learning industry would hit, I believe it was like
Molly Keyser:105 billion by 2015, and it did.
Molly Keyser:And now they're projecting by, I believe it's twenty twenty four,
Molly Keyser:three hundred and twenty 5 billion.
Molly Keyser:And it just keeps skyrocketing.
Molly Keyser:Like companies are even hiring people like me or anyone that has a course to come
Molly Keyser:into their company and teach the course.
Molly Keyser:Like there's just so many levels of opportunity now.
Erin Austin:Absolutely.
Erin Austin:Yeah.
Erin Austin:I like to say that I was ahead of my time.
Erin Austin:I mean, before we started recording, I mentioned my, misadventures
Erin Austin:with, LinkedIn Live today and that I am a tech, Luddite and.
Erin Austin:it was easily, I mean, you know, 10 years ago or something where I had, would have
Erin Austin:ideas for things that I wanted to do online, but it was just so complicated.
Erin Austin:Like, I mean, for me it was like, forget about it.
Erin Austin:Yeah.
Erin Austin:and so now I'm very excited that technology is caught up to my.
Erin Austin:abilities, I think is the way I, I love it.
Erin Austin:. . So, we're gonna talk about courses, course creation, So, tell me, does
Erin Austin:everyone have a course in them?
Molly Keyser:I love this question.
Molly Keyser:yes.
Molly Keyser:I wholeheartedly like this is kind of the thing that people tell me is my
Molly Keyser:thing, is like helping someone kind of extract like what their course idea is.
Molly Keyser:Mm-hmm.
Molly Keyser:. And we do actually have like a freebie that will help you with that.
Molly Keyser:If you go to our website, it's profitable courses.com.
Molly Keyser:but I'll talk about it here regardless.
Molly Keyser:Yep.
Molly Keyser:Mm-hmm.
Molly Keyser:yeah, so everyone has a profitable course idea inside of them, and your
Molly Keyser:profitable course idea can actually be any idea, but you have to just position
Molly Keyser:it in a way that will make it profitable.
Molly Keyser:So I'll kind of break that down if you want me to.
Erin Austin:Yeah, that would be great.
Erin Austin:Yes.
Molly Keyser:Okay, cool.
Molly Keyser:So, How I found my first profitable course idea is, like I said, I was running my
Molly Keyser:photography studio and you'd think it would've been pretty easy for someone
Molly Keyser:to look and be like, oh, well duh, she should have a course on photography.
Molly Keyser:You know?
Molly Keyser:But for some reason, I think sometimes even when the course
Molly Keyser:idea is so close to us, sometimes we still don't necessarily see it.
Molly Keyser:So, like for me, at the time, I heard about courses.
Molly Keyser:And I knew I could just transition like my workshop and that into a course, but I
Molly Keyser:thought, well, maybe that's not the idea.
Molly Keyser:Maybe I should do this idea or that idea.
Molly Keyser:And so I decided to come up with a bunch of different ideas before I chose the
Molly Keyser:one, which is what I recommend you to do.
Molly Keyser:So what I did was I looked at past.
Molly Keyser:things that I have accomplished, past things with my story.
Molly Keyser:Like what are things that I've personally overcome?
Molly Keyser:So, what I looked at in the past was way back in the day, I had like a
Molly Keyser:very successful babysitting business.
Molly Keyser:I was like, well, maybe I could teach like parents how to help their kids
Molly Keyser:be like, successful babysitters.
Molly Keyser:I'm like, okay, that's an idea.
Molly Keyser:and then I looked at my passions.
Molly Keyser:I'm like, okay, well I really like hiking, so maybe I could help women.
Molly Keyser:that wanna get into hiking, but just don't know where to start.
Molly Keyser:Like I could help them, hike their first trail or something like that.
Molly Keyser:I really like painting.
Molly Keyser:Maybe I could help someone, go from never having painted before to
Molly Keyser:like painting something they would be proud to hang on their wall.
Molly Keyser:So I basically just went down all these ideas based on my, passions, my
Molly Keyser:knowledge, like past experiences, and everyone has that past experience.
Molly Keyser:in them, you know?
Molly Keyser:And the cool thing is for example, you don't have to be, say, a
Molly Keyser:gardening expert featured on homes and gardens to teach someone how to
Molly Keyser:start their very first home garden.
Molly Keyser:I always tell my students, you know, you really only need to know like 10%
Molly Keyser:more than who you're teaching, and . Another analogy I like to use is when
Molly Keyser:I was in college, . I did drop out, but when I was in college, , I took
Molly Keyser:this business class and my business professor, he was like telling us how
Molly Keyser:to have a great business and I couldn't help but like giggle inside because
Molly Keyser:he had never had a business before.
Molly Keyser:And for me it's like I would rather learn from someone who has 10% more experience
Molly Keyser:than me, than just a piece of paper.
Molly Keyser:Now, nothing wrong with getting a college degree, but like I would
Molly Keyser:rather learn from someone that.
Molly Keyser:paper or not the experience, you know?
Molly Keyser:and so like I said, just look back at your past history.
Molly Keyser:What have you accomplished?
Molly Keyser:What have you helped other people with?
Molly Keyser:What are you passionate about?
Molly Keyser:And then come up with a bunch of different ideas and then look at which
Molly Keyser:one's gonna be the most fun, the most profitable, the easiest, and then choose
Molly Keyser:the one course idea to start with.
Erin Austin:Now, does any of this change when you are a B2B service provider?
Erin Austin:So your current
Erin Austin:clients are all corporations or other businesses?
Erin Austin:how do we look at course creation differently versus the b2c?
Erin Austin:kind of courses.
Molly Keyser:Yeah.
Molly Keyser:Interesting.
Molly Keyser:my photography course was b2b, so I helped other photography businesses.
Molly Keyser:Mm-hmm.
Molly Keyser:and then I did have at one point, like a low carb course, so that was b2c.
Molly Keyser:And I'm thinking
Molly Keyser:in my head right now, like I can't really think of any differences.
Molly Keyser:Are you thinking in terms of.
Molly Keyser:Legal or like something else
Molly Keyser:. Erin Austin: Well, yeah.
Molly Keyser:Well, uh, you're definitely the expert on that.
Molly Keyser:That's not,
Molly Keyser:I don't think anyone in my audience is a lawyer.
Molly Keyser:I will say that . But, um, but yeah, just if they're thinking
Molly Keyser:about instead of thinking about passions, maybe, you know, more focus
Molly Keyser:or like how to market it.
Molly Keyser:Or are you thinking like maybe how it's different to market it?
Molly Keyser:Is that correct?
Erin Austin:Like the way for them to think about like what ideas like
Erin Austin:instead of being about their passions, maybe it's more and like the student
Erin Austin:focus, like what do my clients need that I can bundle in a way and teach.
Molly Keyser:Okay.
Molly Keyser:Totally get it.
Molly Keyser:Yes.
Molly Keyser:Thank you for clarifying.
Molly Keyser:So yeah, with any course idea, you always want to.
Molly Keyser:, and that's what I said earlier, I was like, you can do any idea, but
Molly Keyser:in order for it to be profitable, it's about how you position it.
Molly Keyser:So whether it's B2B or b2c, you always wanna position it with the result in mind.
Molly Keyser:So for example, my course is called Profitable Courses.
Molly Keyser:So very short name and it's like, You know, the result, the
Molly Keyser:result is you're gonna leave with a profitable course, right?
Molly Keyser:Mm-hmm.
Molly Keyser:. And so, I always have my students come up with their promised statements,
Molly Keyser:which basically I'll just share an example instead of saying,
Molly Keyser:like, I am a bookkeeper, or instead of saying, I have a course for bookkeeping.
Molly Keyser:Okay, that's pretty vague.
Molly Keyser:Maybe you could put that on Skillshare and charge like 19 bucks worth, right?
Molly Keyser:But if you change that statement to say something like, Well, I help, lawyer
Molly Keyser:business owners who sell contracts online for other online business owners
Molly Keyser:how to better do their bookkeeping, to raise their profit margins.
Molly Keyser:Now it's so specific with the result that you could charge, you know, 9 97 plus.
Molly Keyser:so a great question.
Molly Keyser:I whether it's B2B or b2c, I think it's no different.
Molly Keyser:But either way, you have to make sure that you are clear on.
Molly Keyser:The promise and the results because people aren't gonna buy, they're not gonna be
Molly Keyser:like, wow, she has 13 modules, , right?
Molly Keyser:People wanna buy knowing like I can get the results.
Molly Keyser:She's promising as quickly and painlessly as possible.
Molly Keyser:Like someone would rather take a.
Molly Keyser:Like if I'm gonna teach you the same thing, they'd rather learn it
Molly Keyser:in three modules than 13 modules.
Molly Keyser:So,
Erin Austin:oh, that is so true.
Erin Austin:I'll say, I mean, I have looked at online course I'm sure everybody has
Erin Austin:an online course, experie and Bad and, maybe several of both and I will say
Erin Austin:I am allergic now to like, Dozens.
Erin Austin:I'm like, I'm like, Nope, I'm out.
Erin Austin:Like there's just no way I will do.
Erin Austin:Cause I've never once completed one.
Erin Austin:Right.
Erin Austin:you go through that and you, you learn that lesson and
Molly Keyser:Yeah.
Molly Keyser:People, people want, they wanna pay for the win.
Molly Keyser:They wanna pay for the result.
Molly Keyser:They don't wanna pay for like the work they're gonna have to do.
Erin Austin:Exactly.
Erin Austin:I don't remember who that's, that's crazy, isn't it?
Erin Austin:Like
Molly Keyser:Yeah.
Molly Keyser:I unfortunately can't remember the person who said the quote, so feel free to.
Molly Keyser:share it with me, , whoever's listening to this but someone once
Molly Keyser:said like, you wanna sell them the vacation and not the plane flight.
Molly Keyser:Like you wanna sell them, you know, the results mm-hmm.
Molly Keyser:and not like the work.
Molly Keyser:It's gonna mm-hmm.
Molly Keyser:, you know, they wanna do as little work as possible to get the results.
Molly Keyser:So,
Erin Austin:oh, that's, I like that.
Erin Austin:Sell this
Erin Austin:. That's perfect.
Erin Austin:Yeah.
Erin Austin:So, well you mentioned pricing, let's go there.
Erin Austin:So we do see, Was it Skillshare for 19 bucks versus your own for 9 97?
Erin Austin:Like
Erin Austin:What is the difference between those two
Erin Austin:courses?
Molly Keyser:Oh, I love this.
Molly Keyser:Okay.
Molly Keyser:I know I'm saying that about every question, but you're a
Molly Keyser:good interviewer, so great job.
Molly Keyser:So with Skillshare, people a lot of times can say like, well, why
Molly Keyser:can't I just learn it on Google?
Molly Keyser:Or Why can't I just go YouTuber, Skillshare, or whatever.
Molly Keyser:and the thing is that people will pay, like I said, for the result.
Molly Keyser:They'll pay for how quickly and painlessly also, how much like
Molly Keyser:support they're getting and how well organized the course is.
Molly Keyser:. I could be very wrong here, but I personally have never had a friend say to
Molly Keyser:me like, oh my God, I just took this $19 course from, you know, whatever website.
Molly Keyser:There's a ton of websites that host like low priced courses, you know, and
Molly Keyser:they're like, it changed my business.
Molly Keyser:I made six figures.
Molly Keyser:and again, it could happen.
Molly Keyser:I've personally never experienced that.
Molly Keyser:I've also never personally had someone say to me like, I watched this YouTube video.
Molly Keyser:Now I have a seven figure business like
Molly Keyser:Okay.
Molly Keyser:difference is that again, people will pay for the results.
Molly Keyser:So for example, like we have students in our course, you know,
Molly Keyser:making tens of thousands of dollars within just a couple months.
Molly Keyser:And, you know, we've worked really hard to take our system that works
Molly Keyser:for us and put it into the course.
Molly Keyser:So it's like tried and true.
Molly Keyser:and it also is taught every, video is like eight minutes or less.
Molly Keyser:And people will pay for that.
Molly Keyser:They pay for.
Molly Keyser:The organization of it, because on YouTube I do teach a lot of course tips,
Molly Keyser:but it's not laid out like a course.
Molly Keyser:Like you can't just watch.
Molly Keyser:I mean, there's hundreds of videos, right?
Molly Keyser:and it would be harder to.
Molly Keyser:Put it all together, like I obviously wanna share with my audience, like tips
Molly Keyser:and show them, you know, that if they put into play what I'm sharing, it will
Molly Keyser:help them so that they can trust me and hopefully want to take my full course.
Molly Keyser:but yeah, I mean the main difference, like I said, is just with the lower
Molly Keyser:price courses, typically it's like a bunch of stuff kind of thrown in and
Molly Keyser:it's not laid out like a roadmap to get you the result that they're promising.
Molly Keyser:And also, once you really do a course well, you'll start to get a lot
Molly Keyser:of testimonials and that will also really help you, with the pricing.
Molly Keyser:So to answer your question about pricing, I recommend that my students
Molly Keyser:price anywhere between 2 97 and 1997.
Molly Keyser:And the reason I do that, the reason I chose that range is because,
Molly Keyser:first of all, I've done a lot of courses, , and I've tested it.
Molly Keyser:And if you go lower than 2 97, Eventually, if you wanna scale,
Molly Keyser:it becomes very hard to do so your profit margins are just too small.
Molly Keyser:Mm-hmm.
Molly Keyser:, unless you have some massive organic following.
Molly Keyser:Mm-hmm.
Molly Keyser:, which you don't have to have by the way.
Molly Keyser:and then if you go above 1997, that typically will involve you
Molly Keyser:doing high ticket sales and having a sales team to take those calls.
Molly Keyser:So 2 97 and 1997 is really that sweet spot where you can sell.
Molly Keyser:One to many and have a webinar and automate it, which everyone
Molly Keyser:wants the automated passive income, which is incredible.
Molly Keyser:and then when it comes down to choosing the price between those ranges, you
Molly Keyser:really will base it based on the result.
Molly Keyser:So, for example, if you have a course where you're gonna help someone make
Molly Keyser:X amount of dollars and x amount of time, like let's say, Your course is
Molly Keyser:set up to make someone, 9 97 in a month.
Molly Keyser:Okay, so now that you know the range
Molly Keyser:is 2 97 to 1997, I would recommend that you just pick the price in
Molly Keyser:between that based on the result that your course is getting.
Molly Keyser:So the result can be, money made, time saved, stress saved, any of those things.
Molly Keyser:And then you would just base it based on that.
Molly Keyser:And then you can mark it saying, you're gonna get this result in this amount
Molly Keyser:of time, and then that way they know that they'll be willing to pay that.
Erin Austin:Got it.
Erin Austin:That makes a ton of sense.
Erin Austin:I love that.
Erin Austin:All right, so creating a course, pricing a course, arguably the easy part.
Erin Austin:Building the audience to sell it to.
Erin Austin:I think a lot of people struggle with.
Erin Austin:And so what I've heard about courses is that you need to
Erin Austin:have, like, it's a volume play.
Erin Austin:You need to have a really big audience in order to create a course.
Erin Austin:Otherwise, you know, it doesn't make sense.
Erin Austin:So is this true?
Erin Austin:How big of an audience do you need?
Erin Austin:What do you need?
Molly Keyser:I love that.
Molly Keyser:Yeah.
Molly Keyser:So you don't actually really need that big of an audience, whether
Molly Keyser:you have an audience or not.
Molly Keyser:I still have all of my students build an audience of buyers
Molly Keyser:separately, and all you need is 200.
Molly Keyser:So you can grow those from scratch or you can like move them from.
Molly Keyser:another social platform that you already have.
Molly Keyser:Mm-hmm.
Molly Keyser:. And just by having those 200, you know, I've used this method over and over.
Molly Keyser:I call this my profitable course kickstart method, but just from those
Molly Keyser:200, I was able to generate $17,000 in enrollments in 30 days with no ads.
Molly Keyser:And countless amounts of my students have done way more than that.
Molly Keyser:I've had students do $36,000 in 30 days.
Molly Keyser:So, and that's just with A few hundred people.
Molly Keyser:Mm-hmm.
Molly Keyser:, it's more about the quality than the quantity of people.
Erin Austin:Okay.
Erin Austin:How do you know?
Erin Austin:So let's say like I just hang out on LinkedIn and I have
Erin Austin:an email newsletter list.
Erin Austin:Like how do I know what the quality.
Molly Keyser:Yeah, LinkedIn is perfect.
Molly Keyser:So if you don't already have a following mm-hmm.
Molly Keyser:, I recommend you start with a group.
Molly Keyser:It can be a Facebook group or a LinkedIn group.
Molly Keyser:Mm-hmm.
Molly Keyser:. And if you do already have a following, you can use that platform or you can
Molly Keyser:move those people into your group.
Erin Austin:Tell me more.
Molly Keyser:So for example, let's say you already, or like,
Molly Keyser:tell me about your following.
Molly Keyser:Maybe I can just sort of workshop you through it.
Erin Austin:Yeah, so, on LinkedIn I have, I guess around 2000 followers.
Erin Austin:I haven't looked at connections.
Erin Austin:I guess
Erin Austin:I can look at that too, but
Molly Keyser:Do you have a LinkedIn group?
Erin Austin:No, but I have a business page that doesn't really do anything.
Erin Austin:So it was just Erin Austin, and.
Erin Austin:there are groups that I'm a member of, but it's not, you know, LinkedIn
Erin Austin:isn't really much like Facebook, like the groups, there's not a lot
Erin Austin:of activity happening in the group.
Erin Austin:They're pretty Okay.
Erin Austin:Dead zones.
Erin Austin:Yeah.
Molly Keyser:Okay.
Molly Keyser:So if you don't already have a Facebook group, then I would
Molly Keyser:recommend starting one, and I know everyone's like, , Facebook's
Molly Keyser:dead, blah, blah, blah, not dead.
Molly Keyser:and I'm not saying you're gonna go on there forever.
Molly Keyser:Mm-hmm.
Molly Keyser:, this is just gonna be your platform to grow those 200 quickly
Molly Keyser:to start making money quickly.
Molly Keyser:Mm-hmm.
Molly Keyser:. And then you're gonna move to more of like a long-term platform.
Molly Keyser:So it could be YouTube, Instagram slash TikTok, LinkedIn,
Molly Keyser:you know, whatever that is.
Molly Keyser:Mm-hmm.
Molly Keyser:. But, in order to do the kickstart and like get those sales really quickly.
Molly Keyser:Mm-hmm.
Molly Keyser:, like I said, whether you have a following or not.
Molly Keyser:You're gonna start that group and you're going to get people into it, so, , if
Molly Keyser:you already have a following, it's easy because you can promote, you know?
Molly Keyser:to tell people to go into the group.
Molly Keyser:If you don't already have a following, it's still easy, but here's what you're
Molly Keyser:gonna do, . So what you do is you start the group and you name it based
Molly Keyser:on a community that your ideal client would want to be part of, because
Molly Keyser:that's the big thing, like mm-hmm.
Molly Keyser:, people don't just wanna join a group that's like, come by my thing.
Molly Keyser:It's not how groups work.
Molly Keyser:, right?
Molly Keyser:People wanna be part of a community of other people like them trying to, get
Molly Keyser:the same result that they want to get.
Molly Keyser:And so if you have friends on Facebook, You can look through that list and
Molly Keyser:say like, okay, well which of these people do I think are ideal clients?
Molly Keyser:And invite them to your group.
Molly Keyser:Otherwise you can go into other groups, start adding value, you know, connecting,
Molly Keyser:networking, making friends with people.
Molly Keyser:You can friend them.
Molly Keyser:Mm-hmm.
Molly Keyser:and then invite them into your group.
Molly Keyser:And once you get to 50, which you should be able to do in
Molly Keyser:just like one to two days.
Molly Keyser:Mm-hmm.
Molly Keyser:, um, once you get to 50, is that one five or 50?
Molly Keyser:55, 0, 50.
Molly Keyser:Ok, thanks.
Molly Keyser:Yep.
Molly Keyser:So once you get to 50, you.
Molly Keyser:Can do what I call a group grow.
Molly Keyser:Mm-hmm.
Molly Keyser:. So what that is is where you do like a giveaway.
Molly Keyser:So you can choose a prize, whether it's like a one-on-one
Molly Keyser:with you or something else.
Molly Keyser:And basically you'll say like, Hey, you know, invite your
Molly Keyser:friends and make sure you specify that they're your ideal client.
Molly Keyser:And whoever invites the most people wins the prize and
Molly Keyser:then your group will explode.
Molly Keyser:. Erin Austin: Hmm.
Molly Keyser:How interesting.
Molly Keyser:that's all I did to get to 200 . Yeah.
Molly Keyser:Couple times.
Erin Austin:Yeah.
Erin Austin:That's interesting because Facebook, I mean, I have my
Erin Austin:own private, Facebook, profile.
Erin Austin:I don't have a business one there.
Erin Austin:And when I am in Facebook groups, I do have some that are business based, but
Erin Austin:they're on Facebook like, you know, a podcast or something that I follow.
Erin Austin:They have a Facebook group.
Erin Austin:and so yeah, so even though I don't hang out there for business,
Erin Austin:I guess we all kind of have yeah, some kind of footprint off
Erin Austin:Facebook.
Erin Austin:I'm sorry, yeah, because unfortunately LinkedIn.
Erin Austin:Groups and it's just not where they put their focus.
Erin Austin:really, it's about the human and, creating your kind of personal brand.
Erin Austin:I think that's what they call it actually, you know, your personal brand there.
Erin Austin:so yeah, you probably would that group idea probably need to be done somewhere
Erin Austin:else other than, than on LinkedIn?
Erin Austin:I get
Erin Austin:it.
Erin Austin:Yeah.
Molly Keyser:Yeah.
Molly Keyser:I mean, I've had students do it on both with success, but I definitely.
Molly Keyser:, Facebook is easier and then you can pivot somewhere else.
Molly Keyser:. Mm-hmm.
Molly Keyser:. Erin Austin: Mm-hmm.
Molly Keyser:. So you've
Molly Keyser:had clients who've successfully made LinkedIn groups and.
Molly Keyser:use the rapid growth strategy on
Molly Keyser:LinkedIn.
Molly Keyser:Yeah, they just use the exact same strategy there as well.
Molly Keyser:And I've been testing the same, like, not the group group, but I've been
Molly Keyser:testing the same scripts and strategies for the groups on Instagram and TikTok.
Molly Keyser:And although they do work.
Molly Keyser:, those platforms just take longer to grow.
Molly Keyser:And that's why like if you don't already have an audience of buyers
Molly Keyser:for your course, Facebook groups is still the fastest way to just get
Molly Keyser:that initial following of buyers and then you can go somewhere else
Molly Keyser:that's more long, long-term play.
Molly Keyser:so if you are someone that has in your head like, well, I hate Facebook,
Molly Keyser:Well then just like utilize it to your advantage until it's gone.
Molly Keyser:You know what I mean?
Molly Keyser:Like Right, you know, so, and there's still 2 billion active users
Molly Keyser:a month on it, which is, insane.
Molly Keyser:A crap ton of people.
Molly Keyser:. Erin Austin: So now,
Molly Keyser:now what percentage of your audience will buy your course?
Molly Keyser:I mean, on average, like what
Molly Keyser:are the,
Molly Keyser:Hmm.
Molly Keyser:Great.
Molly Keyser:okay, so I have this in my course, so hopefully I.
Molly Keyser:just saying it from recollection here, but I believe it's five to 10% of
Molly Keyser:the group will purchase and I give my students like scripts and everything.
Molly Keyser:Basically what they do is once they've grown the group, I have these scripts
Molly Keyser:that they post called interest posts, that will get people raising their
Molly Keyser:hand, being like, oh, I'm interested, I want more information on this.
Molly Keyser:Like, you're never gonna cold message people.
Molly Keyser:I would never recommend that.
Molly Keyser:Right.
Molly Keyser:people are just gonna essentially like send an emoji raise their hand, so to.
Molly Keyser:And then you're gonna be able to have a conversation with them and see if
Molly Keyser:they're a good fit just through the dms.
Molly Keyser:So you don't have to, do sales calls, nothing like that.
Molly Keyser:And don't even have to build your email list yet.
Molly Keyser:I do teach how to build the email list, but we do things in steps and waves
Molly Keyser:so that you start making money faster.
Erin Austin:Gotcha.
Erin Austin:So are you nurturing them inside the group then?
Erin Austin:Like how are.
Erin Austin:Keeping them in the group.
Molly Keyser:I'm sorry, say that again?
Erin Austin:Are you nurturing them in the group?
Molly Keyser:Oh,
Molly Keyser:absolutely.
Molly Keyser:So, I always recommend that you come up with like five different types
Molly Keyser:of categories of nurture things.
Molly Keyser:You know, it can be like educational, it can be quotes, it can be engagement
Molly Keyser:posts, you know, whatever it is.
Molly Keyser:and then I use a tool called Smarter Cue to automate everything.
Molly Keyser:So it actually evergreens all of your content.
Molly Keyser:It's not like Buffer where you just schedule it once and then
Molly Keyser:it goes out and it's gone.
Molly Keyser:Right.
Molly Keyser:You make buckets of content that recycle over and over to Evergreen all the posts
Molly Keyser:in your group, which is pretty cool.
Erin Austin:Hmm.
Erin Austin:I've never heard of that one before.
Erin Austin:Okay.
Erin Austin:So I'll look at that.
Erin Austin:All right.
Erin Austin:Well that is very helpful because it makes it sound doable, which honestly it
Erin Austin:has never seemed doable to me.
Molly Keyser:Oh, good.
Molly Keyser:I'm so glad to hear that.
Molly Keyser:Thank yes.
Erin Austin:So what trends are you seeing in the course space?
Molly Keyser:Ooh, good one.
Molly Keyser:Let's think about this.
Molly Keyser:Well, I do think that.
Molly Keyser:Although technology is easier, there obviously are more people doing courses,
Molly Keyser:which is not necessarily a bad thing, like I said, it more people are now
Molly Keyser:educated about courses, but I think that it does mean that the average person
Molly Keyser:probably has taken a course and whether they had a good experience or not, like
Molly Keyser:I said, you know, you need to make sure your course gets them a result quickly.
Molly Keyser:Isn't cumbersome, inflated, you know what I mean?
Molly Keyser:Because people will look at that.
Molly Keyser:Mm-hmm.
Molly Keyser:, they're not just looking at, oh, it's a course, I'm gonna buy it.
Molly Keyser:They're looking at the result they're gonna get, you know?
Erin Austin:Right.
Erin Austin:Yeah.
Erin Austin:Yeah.
Erin Austin:Definitely.
Erin Austin:I think we all have a responsibility in some ways to rehabilitate.
Erin Austin:Some of the bad name that some courses have, you know,
Erin Austin:some of the old one currently.
Erin Austin:Um,
Molly Keyser:yeah, I'm trying to think of other trends.
Molly Keyser:I would say as far as building a following, I would not
Molly Keyser:sleep on TikTok like mm-hmm.
Molly Keyser:, TikTok is so easy to grow on, in my opinion.
Molly Keyser:And you can kind of create a funnel to move people from TikTok to Instagram
Molly Keyser:and then kind of sell on there.
Molly Keyser:Mm-hmm.
Molly Keyser:as your long term.
Molly Keyser:Mm-hmm.
Molly Keyser:yeah.
Molly Keyser:Have you seen any trends as someone who's, you know, purchased courses?
Molly Keyser:? Erin Austin: Yeah, just that
Molly Keyser:Just the things that you discussed that people have
Molly Keyser:become very savvy about, courses.
Molly Keyser:and they're using, you know, more discernment when they're buying and
Molly Keyser:their time is super precious and they definitely, they definitely less is more.
Molly Keyser:That's definitely been my,
Molly Keyser:yeah.
Molly Keyser:I would also say too, Having payment options is good, especially, you know,
Molly Keyser:a lot of people are saying we're in a recession or going into a recession.
Molly Keyser:and, you know, I'm not like an analyst of that, but , right.
Molly Keyser:Um, I would say give people options, you know, because maybe they want
Molly Keyser:to pivot from their job or they've lost their job or whatever it is.
Molly Keyser:Whoever your ideal customer is, Maybe they want options, you
Molly Keyser:know, so paying full payment plan.
Molly Keyser:but then PayPal credit is a great one or some kind of Hmm.
Molly Keyser:Option like that.
Molly Keyser:And the reason I like PayPal credit is because it gives your
Molly Keyser:customers six months interest free.
Molly Keyser:Oh, okay.
Molly Keyser:Because I don't necessarily, love the idea of like, know, I know that
Molly Keyser:my course, if my student does it will get them making money in way
Molly Keyser:more than like before six months
Molly Keyser:Right.
Molly Keyser:So I feel comfortable recommending that, you know, I don't wanna see my students
Molly Keyser:going into debt and hurting, you know?
Molly Keyser:Right.
Molly Keyser:but I would say trending wise, I do see a lot of people offering, PayPal,
Molly Keyser:credit, things like that, and just giving your consumer like option so
Molly Keyser:they could choose what works best for.
Erin Austin:That's great.
Erin Austin:I like that
Erin Austin:too.
Erin Austin:So this is the Hourly to Exit podcast.
Erin Austin:You know, we talk about building a scalable and saleable business, and so
Erin Austin:part of that is having exclusivity in our business through our intellectual
Erin Austin:property or through our positioning, as well as decoupling our founder.
Erin Austin:Income from their time creating a business that is independent from the owner.
Erin Austin:And so when we look at courses and course creation, how does
Erin Austin:that fit into that hourly to exit
Erin Austin:journey?
Molly Keyser:Okay.
Molly Keyser:Yeah.
Molly Keyser:So how does someone transition from their job to a course?
Erin Austin:Well, how about, we look at courses?
Erin Austin:Do they help us separate our time from our income?
Erin Austin:Mm-hmm.
Erin Austin:, does it help us scale, bring, leveraging our businesses and create assets?
Molly Keyser:All of the
Molly Keyser:above.
Molly Keyser:, yes.
Erin Austin:leading
Erin Austin:the witness.
Erin Austin:Yes.
Erin Austin:. Molly Keyser: But yeah, so, you
Erin Austin:I loved it and it was great, but I just couldn't picture myself.
Erin Austin:trading my time for money forever.
Erin Austin:I couldn't picture myself as like a 60 year old lady, with like a 20
Erin Austin:pound camera around my head, like climbing a ladder to get the shot.
Erin Austin:Like, I just couldn't picture that.
Erin Austin:Although, like, obviously I, I could do that . But, yeah, so for me it
Erin Austin:was more about like time freedom.
Erin Austin:You know, I wanted to be able to have the.
Erin Austin:I wanted to be able to have the choice of like what I do with
Erin Austin:my time and not be tied to that.
Erin Austin:So not only like the growing old vision, keep in mind I
Erin Austin:was like 20 when I had that.
Erin Austin:So obviously sixties, not old . But for me it was more like, I would
Erin Austin:have, shoots that would get booked like a year in advance.
Erin Austin:And so I would kind of be like tied into a contract and that kind of
Erin Austin:gave me anxiety of like, well, I'm not really in control of my time.
Erin Austin:And I think a lot of freelancers can probably relate to that.
Erin Austin:Or people with nine to fives.
Erin Austin:Mm-hmm.
Erin Austin:. So for me it was the white space on the calendar, , and also the scalability.
Erin Austin:it would've been extremely hard for me to reach seven figures as a photographer.
Erin Austin:It's been done, but statistically it's very a low stat.
Erin Austin:Mm-hmm.
Erin Austin:and.
Erin Austin:know, I think it only took me three or four years.
Erin Austin:I had, my first year I made $200,000 with my first course, and then it
Erin Austin:just pretty much doubled from there.
Erin Austin:And so, let's see.
Erin Austin:Yeah, it took me between three and four years to hit seven figures.
Erin Austin:and most of those years we had 80% profit margin with our course.
Erin Austin:So not only was it like I got my time back, it was scalable.
Erin Austin:Like the profit merchants were incredible.
Erin Austin:Yeah.
Erin Austin:I mean, that's why I'm just such an advocate for courses
Erin Austin:and I love them so much.
Erin Austin:I wanna be able to sleep in.
Erin Austin:every morning, like I never set an alarm and I wanna be able to choose
Erin Austin:like what I do when I do it and really be passionate about what I do.
Erin Austin:I could go on forever, but that's kind of the gist.
Erin Austin:That's great job for courses I've.
Erin Austin:so
Erin Austin:this is, a very meta podcast where, I talk to women about building
Erin Austin:businesses that they can sell someday.
Erin Austin:I am a woman who's building a business that I hope to sell someday.
Erin Austin:Yeah.
Erin Austin:You are a woman with an expertise-based business.
Erin Austin:Are you planning to sell your business
Erin Austin:someday?
Molly Keyser:Ah, good question.
Molly Keyser:Hmm, , how much time do we have lunch?
Molly Keyser:? So I talked about my photography course and I don't actually
Molly Keyser:have that course anymore.
Molly Keyser:I did it for like seven years.
Molly Keyser:And long, long story short, when Covid hit, I knew that I would essentially
Molly Keyser:need to redo pretty much everything because we employed all 100% women.
Molly Keyser:aside from my husband and.
Molly Keyser:when Covid hit, you know, people lost their daycare, they lost their nannies.
Molly Keyser:Like we had a lot of employees, you know, they couldn't work for us anymore.
Molly Keyser:And the photographers weren't able to take shoots because of covid, all these things.
Molly Keyser:Mm-hmm.
Molly Keyser:and over those years I have actually always wanted to teach courses, so
Molly Keyser:I just chose personally to pivot.
Molly Keyser:100% full-time into.
Molly Keyser:My course now profitable courses, but a lot of people have asked me, you
Molly Keyser:know, why didn't you sell that company
Molly Keyser:So for me, first of all, it was never my plan, so therefore it was not planned.
Molly Keyser:. Yeah.
Molly Keyser:So, you know, it's hard to sell a company if that's not like your plan from day one.
Molly Keyser:I think that that's really smart that you're already talking about that.
Molly Keyser:So number one, We didn't really have a plan in place for that.
Molly Keyser:number two, I was the face of the company.
Molly Keyser:And in order to sell your company, you do really need to be able
Molly Keyser:to transition out of that.
Molly Keyser:Mm-hmm.
Molly Keyser:and I could do a whole episode on that.
Molly Keyser:But, number three, you need to have a buyer.
Molly Keyser:And my course was specifically to help photographers transition
Molly Keyser:into bir photography, which is like the niches of niche.
Molly Keyser:Ah.
Molly Keyser:and most of the people in the photography industry that
Molly Keyser:purchase other businesses are men.
Molly Keyser:And I did reach out to them, but, they even said, they're like,
Molly Keyser:I'm not interested in boudoir.
Molly Keyser:Like, I don't understand it.
Molly Keyser:Like, so you need to have all these components, you know, you
Molly Keyser:need to have sellable business.
Molly Keyser:And first, and also like if your employees don't have daycare, they
Molly Keyser:don't have chocolate, they leave.
Molly Keyser:Then if you don't have the employees that run the company, then you
Molly Keyser:don't have a company anymore.
Molly Keyser:, right?
Molly Keyser:So I think that's great that you talk about that with people
Molly Keyser:right away because you really need to have that exit strategy.
Molly Keyser:Yes.
Molly Keyser:So for this company, I am mean more strategic about it, but I don't
Molly Keyser:actually have a plan to sell it.
Molly Keyser:Like This is my baby.
Molly Keyser:Like the thing I've been wanting to do forever, , and I love it so much
Molly Keyser:and like I just see myself doing this.
Molly Keyser:Mm-hmm.
Molly Keyser:for the rest of time.
Molly Keyser:. Erin Austin: Well, I
Molly Keyser:like to say it's fine for your business to be your baby, but like
Molly Keyser:real babies, we raise them to grow up and be independent sometime.
Molly Keyser:That's good.
Molly Keyser:That is a win.
Molly Keyser:That's not
Molly Keyser:a.
Molly Keyser:So, yeah, just
Molly Keyser:Oh, absolutely.
Molly Keyser:I think it's just a decision, you know?
Molly Keyser:Yeah.
Molly Keyser:Like especially if it's a personal brand, you have to decide Like
Molly Keyser:are you gonna remove yourself as the face of the company, you know?
Molly Keyser:Yes.
Molly Keyser:But I absolutely agree with you a hundred percent.
Molly Keyser:Awesome,
Molly Keyser:. Erin Austin: Well, this
Molly Keyser:So as we wrap up, first of all, you mention.
Molly Keyser:a freebie earlier.
Molly Keyser:So tell us about that and then let us know where we can find you.
Molly Keyser:Okay?
Molly Keyser:Yeah.
Molly Keyser:If you go to profitable courses.com, we do have a freebie to help
Molly Keyser:you find Your course, your profitable course idea, your niche.
Molly Keyser:I do also have a class if you prefer to take like an on-demand workshop.
Molly Keyser:I teach you how to find the profitable course idea, also how to create your
Molly Keyser:curriculum for the course and also how to, start profiting from it in 30 days.
Molly Keyser:And that's profitable courses.com/class.
Erin Austin:Awesome.
Erin Austin:And you're on all.
Erin Austin:Socials
Molly Keyser:socials?
Molly Keyser:Yeah, I would say I'm mostly on, I mean, my Facebook group has,
Molly Keyser:in just a couple years, we have over like 6,500 people in it.
Molly Keyser:it's one-on-one to passive income , so you could check that out.
Molly Keyser:And then I will, I do spend a lot of my time on, Instagram as well.
Molly Keyser:And that's at Molly m Kaiser.
Erin Austin:Awesome.
Erin Austin:Well, thank you again.
Erin Austin:It has been wonderful to be here.
Erin Austin:Thank you for sharing your wisdom with us and again, thank
Erin Austin:you so much.