“...inflation isn't the only culprit. There is also a fault with the [retirement] system itself.”

The Silent Depression: Why Cash-Flowing Assets (Like An Online Course) Are Better Than The Traditional Retirement Model for Business Owners

If we adjust for inflation, in the current economy Americans are experiencing higher cost of living expenses and lower average earnings than at the height of the Great Depression in 1930. This makes it hard to save for retirement when most business owners are struggling to even make ends meet.

A hundred years ago, the average annual income of an American was around $4,800, based on the IRS report for 1930. If we take inflation into account, that’s nearly $85,000 in today’s dollars.

Comparatively, the current average income for a single American is only $56,000 according to the US Bureau of Labor Statistics, meaning most Americans today are making less than our grandparents were at the height of the Great Depression. 

With rising inflation, price gouging, and this shortage in average household income, the American dream lifestyle is becoming harder and harder to attain. Budgets are getting tighter and tighter; which makes it difficult to carve out extra cash to invest and build financial freedom.

But inflation isn’t the only culprit. 

There is also a fault with the system itself.

In 1935, when President Roosevelt signed the Social Security Act, the average life expectancy was only 62 years old! The current US retirement system was never meant to support a population that lives decades longer.

Pensions and Social Security have since all but disappeared - leaving just one option for most Americans: saving your way to retirement.

But with cost of living sky high and the average income (adjusted for inflation) lower now than it was during the Great Depression, how exactly are you supposed to do that?

The fact is: retirement is DEAD.

The idea that you should work 40+ years or more, saying no to Starbucks and vacations so you can save and invest the difference, and that this will somehow allow you to retire by age 65 is just not necessarily true anymore!

So what can we do instead?

The Answer: Buy Or Create Cash-Flowing Assets And Become Financially Free.

Financial freedom simply means your monthly passive income exceeds your expenses. There are dozens of ways to do this, and if you look up "cash flowing assets" online you will see everything from building an Airbnb empire to selling templates on Etsy.

But because you are a successful business woman, just like I was when I first started my investing journey, I want to share with you one of the easiest and most effective investing strategies I know of that is uniquely suited to your talents, experience and circumstance as a business woman. 

Your key to passive income as a successful business woman is using your intellectual property as an asset that others can sell for you.

Intellectual Property noun. a work or invention that is the result of creativity, such as a manuscript or a design, to which one has rights and for which one may apply for a patent, copyright, trademark, etc.

This type of asset is rarely talked about in the world of finance and investing, but it's UNIQUELY PERFECT for business women because the very fact that you have a successful business means you probably already have intellectual property!

Now make no mistake here: loads of business owners use their IP to earn income. There’s nothing new about patenting, trademarking or copyrighting your business processes or creative works.

But when you create an online course or other digital product, you can then license the rights to other people and they will sell it for you!

Here's how this works:

Step 1: Buy or build an online course that already has product/market fit

Step 2: License it out to partners who will sell it for you (usually in exchange for profit share)

Step 3: Automate your payment process

It really is that simple. But simple doesn't always mean easy.

With that said, here are the exact steps to package up your expertise into an online course and use it as an asset to earn you passive income every single month! 👊

1. Identify Your Expertise

First, you will want to choose the specific topic or skill you want to teach. Many business women make the mistake of selecting a course topic they are passionate about, instead of the one they are known for. The difference between an online course that SELLS and one that was a massive waste of time to build is: product/market fit.

Start by identifying what problems you are already well-known for solving. What do clients often tell you makes you unique, different and better than your competition?

Pro Tip: In some cases your online course makes the most sense targeted at your current client type. In other instances, an online course targeting other entrepreneurs who wish they could do what you do is better! When in doubt, test both.

2. Validate Your Idea

Next, use market research to identify the right offer and messaging for your course. Since you are already an expert with deep knowledge and experience in the field you will be teaching, it's important not to make the mistake of assuming you know how the target audience feels. You need to understand their specific needs, pain points, and what would motivate them to buy your course. None of that can be discovered through brainstorming or guesswork.

My favorite tools for this are AnswerThePublic.com, ChatGPT, and the Google Keyword Planner tool.

Pro Tip: Hop inside my monthly membership Plan HER Profits for access to my Validate Your Idea Checklist and weekly coaching to help you create your course & automate sales!

3. Outline Your Course Content

Only once you have validated your idea (and proven that someone would want to pay for it) should you move onto the next step: building the course itself.

Pro Tip: Don't overcomplicate this step! I have watched women take years to record their course. Procrastination, overwhelm, perfectionism... all of these can get in the way and all are a perfect example of why working with an experienced coach who knows digital marketing & automation can be a really good fit for some entrepreneurs.

But if you've got the grit to do it, actually creating the online course is easy. I start by using my Digital Course Outline (want a free copy? Click here to request access) and map out the topic into modules and lessons. You want your course to have a clear and logical structure so students can easily learn and APPLY what they learned.

Every module should have its own milestone, with a specific A - Z transformation promised and delivered upon (A = where the student is when they begin, and Z = a specific end result of studying that section).

4. Plan Engaging Content (But DO NOT RECORD IT YET!)

Develop high-quality content for each lesson. This can include video lectures, audio clips, written materials, quizzes, downloadable worksheets, links to resources, software or tools, etc. Make it engaging and interactive.

But...

Do NOT record your course, write your lessons or create the materials yet! This is very very very important.

5. Choose a Platform

Decide where you want to host your course. I recommend GoHighLevel if you're looking for an all-in-one digital marketing system that will allow you to make your course a fully passive income stream. But you can also run your course inside a Facebook group, or use Thinkific, Teachable, Udemy, MightyNetworks, and more.

Pro Tip: Want my team to setup your full course portal and automation systems for you? Click here to get a quote!

6. Beta Test Your Course Content (IMPORTANT)

Beta testing an online course before recording the final version is crucial for several reasons. Firstly, it allows you to gather valuable feedback from a diverse group of users who can provide insights into the clarity, effectiveness, and results possible with your content. Their input helps identify potential areas for improvement and ensures that your course meets the needs and expectations of your target audience (vital to prevent refunds).

By incorporating feedback from beta testers, you enhance the overall quality of your course. You will discover places where an additional lesson or examples are needed, where a worksheet would assist students to stay engaged, where people get lost or confused (and potentially quit or ask for a refund), etc.

Also, conducting a beta test will give you all the testimonials, case studies, before/after photos, etc., you will need in order to successfully launch and sell the course!

7. Record the Course

Now you are ready to record the course! You can do this in a couple of days if you prepare ahead of time. Using my Digital Course Outline (want a free copy? Click here to request access) plan each lesson format (face-to-camera, slides, screenshare, whiteboard, etc).

For face-to-camera lessons, arrange a space that has good lighting and nothing ugly or distracting in the background. (I like to take a photo of the space and then ask myself this question: "Does this background add to or distract from my message for this lesson?")

For slides, consider using Canva which allows you to write your lesson script straight in the notes section of each slide, and then record the lesson and download it, all inside the software.

I like Loom.com best for screenshare lessons.

8. Automate Your Sales & Marketing Process

There is no point in creasing an online course as a retirement plan if YOU have to sell it. Dancing on social media or sending cold dms to strangers isn't exactly a passive income strategy!

Whether you buy an online course with the rights to resell it, or you build one from scratch as I outlined here, you next need an automated system to attract students and sell them without you.

My team and I can help!

Contact us for more info on setting up marketing & sales automation and finding the right business partners to sell your course.