11 Apr Part 4: De-risking an online course with a MVP
One of the most frustrating parts as an entrepreneur takes place each morning. Technically the day starts with an abundant source of energy and a clean slate. Yet as I start laying out the days tasks, they often can extend off the page: Prepare the newsletter, post an IG story, two coaching sessions, file my tax extension. I’ve yet to finish my cup of coffee where I’m paralyzed by the constraints of solopreneurship. If I’m lucky, I’ll get through two of them. If I stay off of Instagram, maybe three. And the remaining 38 will roll over to the next day.
Sprinting to stay in place (aka the ‘business of content’)
When you’re in the business of content, there’s no break. And I often feel like I’m sprinting simply to stay in place. Which is why the thought of launching anything new on RadReads is paralyzing (and why it took hiring a second coach to push me over the edge). I honestly didn’t know where I would scrounge up the time to push forward such an ambitious project.
You must test the demand
There was one warning that I received over and over again and made sure to heed. I had to validate that people were willing to pay for a course before embarking on the journey to build it. In Brian Harris’ guide to launching an online course, he makes you pledge that you won’t build a course before validating the demand:
Thing #1: Raise your right hand.
Thing #2: Say this out loud…
Never to build a product.
Without first validating that people will actually pay me money for said product.
And he includes the following metric for good measure:
RadReader Tiago Forte echoed this sentiment. On the Rad Awakenings Podcast he recommended testing out an offering as a service:
One day you can run a workshop and then realize that it doesn’t work, so the next day do 1:1 consulting. It’s really easy to pivot. If all you have is a website describing your service, all you have to do is change the description on your website. You’re can follow Paul Graham’s recommendation of doing things that don’t scale because that’s where the learning and adaption come in
Thankfully, this phase had already been validated by my nascent money coaching practice. Not only were clients paying me a pretty penny for this service, together this work was having a transformative impact for both the clients and I.
Next up, a digital workshop
You could think of this as a condensed version of an online course, similar in nature to the talks I give at financial conferences but bolstered by exercises and a resource library for deeper dives. The live workshop The Fulfilling Path to Financial Independence (with full replay for anyone who can’t attend) is currently under development and tracking for our May 2nd launch date. And here’s how I’m overcoming my impostor syndrome throughout this process:
You don’t ever slay impostor syndrome, you simply renegotiate your relationship to it. And to me this renegotiation was simple: I’m going to dedicate my heart and soul to this course. It’s gonna be so damn good, thorough and honest, that you guys will leave saying to yourselves “Damn, that was worth 5x what I paid for it.” And if they don’t feel that way, I’ll return the money – no questions asked. So here’s my rallying cry. Let’s do this!
And if on May 3rd, it’s revealed that there is full-blown demand for an online course – I’ll hunker down for 4-6 months and create the dream course that I wish I had as a student!
Become an Insider
We'll give you an inside look to the course financials, launch strategies, and discounts when we finally go live.
Join us on May 2nd for our digital workshop: The Fulfilling Path to Financial Independence, which includes:
- A two hour live virtual workshop on Financial Independence (with full replay access)
- A live Q&A with Khe Hy with ability to submit questions in advance
- 5 activation templates to start planning your path to Fulfilled Financial Independence
- Lifetime access to the curriculum and modules
- Private invitation to the Financial Independence Slack Channel
- Discounts on all upcoming courses and workshops