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As a creator, you're probably full of ideas. And we've all been there, right?
I have so many ideas. How do I pick just one? It's fine.
Relax. This is something that so many creators struggle with.
I'm going to show you a simple framework for taking all of your ideas and picking
the very best ones. We've worked with hundreds of creators who are struggling
to narrow down all of their ideas into the very best ones. And we've developed a
simple process for doing it called the Passion Profit Matrix.
Here's what the Passion Profit Matrix looks like. We're just going to take all
of our ideas and plot them out into these four quadrants based on how passionate you
are about the topic, and the profit potential for the
course idea. Now, why passion? Well, here's the thing, building an online
course business, just like building any kind of business is full of peaks
and valleys. It gets tough sometimes and if you're not passionate about the topic
you're building a course about you're going to have a lot of trouble getting
through those tougher times. But if you're super passionate about this
and need to get it out into the world, then you're going to make it
through those valleys. And profit potential just comes down to,
are people willing to have this problem solved for them? This is something that
would've surfaced in the research that you did to create your course topics.
Were the conversation that you found about the topic online really heated
and sentimental, or were they kind of bland and boring? Were the conversations
that you had with people in your research really animated and emotional,
or did people not really care? That's what we're going to gauge here.
So, here's an example using the cooking course that we started in the last video
of how those topics might look on this Passion Profit Matrix.
I went through reddit, I found these topics and now,
I've plotted them here. I'll show you how this works.
So, looking at the bottom left here, low profit potential and low passion.
How to make a vegetable stay fresh longer? How to do dishes faster? You know,
I didn't really find a lot of active heated discussions about these things,
and frankly, I'm not that passionate about them either. So, they're not the best
course ideas for me. Moving up to the top left here,
how to make eggs. It's something I enjoy doing. I've done for a long time,
but people, again, didn't seem to get really heated in their discussions
about cooking eggs and I checked out Amazon and egg cookbooks don't seem
to sell that well. So, I'm going to leave that as a course topic.
Now moving to the bottom right, low passion, but high profit potential.
How to cook healthy-to-go lunches for young children. This is a really,
really passionate topic for a lot of folks. People get really emotional
about this challenge. They begin to feel like failures
as parents if they can't pack healthy lunches for their kids.
It's a fantastic course topic. The only thing is I don't have kids and
it's not really something I care about that much. So, I'm probably not the best
person to create this course. However, if you have kids, and this is something
you've overcome, by all means, steal this course idea and make lots and
lots of money. Now, moving up to the top right, we get into the really good
course ideas. So, how to grocery shop better. I noticed some people phrase
this differently, some people phrase it like meal planning, or grocery planning,
but it all kind of fall into the same bucket, how to grocery shop better.
I love this topic. It's something I think about a lot and people get really,
really animated in the discussions about it. So, this is a great course topic.
How to use knives like an expert. Again, a really good course topic.
People get animated about it, it's high-impact. If somebody learns how
to use knives better, they'll be more confident in the kitchen,
they'll cook better, they'll be safer. So, great course topic. And this is actually
the one that I'm going to use as we build out our course in the next video.
And then finally, how to impress your date and loved ones with cooking.
Again, very good course topic. This is a high-stakes situation for a lot
of people and they're willing to work hard and to pay to have this problem solved
for them. Now, a lot of creators get to this point and they get excited about a
topic that they could potentially build an online course on, but then something stops
them cold. They get to looking around the internet and they think, "But, but,
but there's already a course about that. Somebody already did a course
about my topic." And you know what? That's actually good because that means
that that is a validated course idea. It means that people are willing to pay
money to have this problem solved. There aren't very many new problems today.
The same problems that have been around for hundreds or thousands of years are
still problems today. Take for example, productivity. Seneca, the philosopher,
wrote about productivity 2,000 years ago. [inaudible] wrote
about productivity in the 1400s. Ben Franklin wrote about productivity 200
years ago. Here's Ben Franklin on productivity. And it remains a problem
to this day. Every year for the last 17 years, there has been a different
bestseller on the New York Times bestseller list about productivity, okay?
This problem has not gone away despite many, many, many best-selling attempts
at solving it. And you can think about your course problem the same way.
Just because somebody else has created a course about that topic doesn't mean that
the problem is solved for everybody. Maybe their course is the best for their
students and your course will be the best for yours. So, just grab that Passion
Profit Matrix right below this video, and you can get started picking your
best idea. The Passion Profit Matrix makes it easy to take all of your ideas and
figure out which one is your best bet for turning into a profitable online course.
I hope it helps you. Thanks for watching.
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