Building New Courses Handout
5
Basics 1. 10 Right Questions of Success The more questions you can answer the higher your success rate. Is this the right audience? 1. Is this the right subject area? 2. Is this the right topic? 3. Is this the right title? 4. Is this the right format? 5. Is this the right place? 6. Is this the right time? 7. Is this the right instructor? 8. Is this the right price? 9. Is this the right promotion? 10. 2. Ideal Programming Percentages 3. “S” Curve of Program Development Course introduction 1. Normal productivity dip 2. High growth rate 3. Start of the end 4. Uses of the S Curve Determining the stage of a course so you can determine how • to help it. Know what percentages of courses you have in each stage so • you can better plan new courses. 4. Most Profitable Courses 20% of your offerings generate 80% of your income. Build on these. Offer it more often • Offer another section • Offer it in another location • Create spin-off courses • Building New Courses, Fred Bayley, LERN Senior Consultant
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Transcript of Building New Courses Handout
Basics1. 10 Right Questions of Success
The more questions you can answer the higher your success rate.Is this the right audience? 1. Is this the right subject area? 2. Is this the right topic? 3. Is this the right title? 4. Is this the right format? 5. Is this the right place? 6. Is this the right time? 7. Is this the right instructor? 8. Is this the right price? 9.
Is this the right promotion? 10.
2. Ideal Programming Percentages
3. “S” Curve of Program DevelopmentCourse introduction1. Normal productivity dip2. High growth rate3. Start of the end4.
Uses of the S CurveDetermining the stage of a course so you can determine how •to help it.Know what percentages of courses you have in each stage so •you can better plan new courses.
4. Most Profitable Courses20%ofyourofferingsgenerate80%ofyourincome.Buildonthese.
Offeritmoreoften•Offeranothersection•Offeritinanotherlocation•Createspin-offcourses•
Building New Courses, Fred Bayley, LERN Senior Consultant
5. New Course Matrix
Current Customers New Customers
Exis
ting
Prod
ucts Now
You have existing products for existing
customers.
Good Expansion Take an existing product
to a new audience.
New
Pro
duct
s
Good Expansion Create a new product for your existing customers.
Poor & Risky Extremelydifficulttosucceed by creating a
new product for a new audience. Stay away
from this option.
Creating New From Successful1. Update Tired Courses
Titleitforaspecificmarket•Create modules•Combine with another course•Make it longer•Make it shorter•Make it current•Give it a new angle•Create an advanced level•
2. Format VariationsSpinningoffasuccessfulcourseintootherformatshas3benefits.
Greater income1. Greater participation 2. Higher repeat rate3.
Alternative FormatsClass• Webinar•Hybrid• Conference•Trip or tour• Online•Event• Self-study•Contract• Certificate•Seminar• Institute•
Formats for Community ProgramsOne night•Friday or Saturday night•Camps•Gentle Saturday: morning workshops, music & lunch, •afternoon workshopsOne-day trips•
Formats for business programs4 day institutes•Immersion: 14 hour weekend•Webinars & Webcasts•Online courses•On-site customized•
3. Subject Matter VariationsLaser In
ProgressionsLevels and spin-offs of courses
Niche Strategy
Image StrategyWhat is your USP? Use this strength for new courses.
Survey Customers for Ideas
Your IdeasUse your normal idea gathering methods•
Focus GroupsBrainstormideasandchooseoptions•10-12 members who are customers•Reduce ideas to 3-6•
Survey
4. PricePremier program
Start with the price•3 times your normal fee•
FinancesFinances: New Program Guidelines
Lifespan of at least 3 years?•Generate $100,000 or more in income?•
Finances: PerformanceGenerate an acceptable operating margin by year 3 Year 1: Cover direct costs Year 2: Cover direct costs & administrative costs Year 3: Make money
Benchmarks20%newcoursesofferedina12-monthperiod.•15% Cancellation rate for courses/events•30-50% Cancellation rate of new courses•
LERN ToolsHot Courses - Found in the LERN Club www.lern.org. See whatthelatesthotcoursesare.Ratethemandcoursethatfityour rating will appear near the top of your listings.
Fred Bayley, [email protected]
