As businesses look to diversify their revenue streams, many are considering selling online courses and training materials. We spoke with Chris Badgett, the Co-Founder and CEO of LifterLMS, a learning management system for WordPress websites. We spoke with Chris about how businesses in Chester County can begin to sell their knowledge and expertise online. Links * LMScast podcast: https://podcast.lifterlms.com/* LifterLMS website: https://lifterlms.com/* Facebook Group for Course Creators: https://www.facebook.com/groups/lifterlmsvip/* Chris Badgett on Twitter @ChrisBadgett* Building Revenue Streams with Don Reid, Jr. Notes What is a Learning Management System (LMS)? * Three primary buckets of LMS users: * Expert industry; * Traditional schools; and * Companies and their training portals* Imposter syndrome is real, but it is a addressable challenge* Businesses can use a LMS to educate prospects about the industry or current customers about products or services* An LMS can be very flexible Pivot to Digital Case Study: Balloon Artist Training * Ziv Raviv, owner of Kivi Media, took a love of balloon art and earned over $200,000 in a year serving a tiny niche, teaching customers balloon art What goes into creating an online course? * A COVID-19 idea: restaurant owners could teach customers to cook their signature dishes at home* The training could cover putting together a shopping list and actually preparing the entire meal* Simple is better for getting started* Microsoft PowerPoint allows for recording screencasts and Zoom can be used to record talking-head videos; even entire courses can be recorded on a phone, but get a tripod or self-stick* Get the fundamentals of online training right:* Focus on a clear customer* Address a very specific problem* Aim for a clear result or resolution* Follow a clear mechanism or method (“the secret sauce”) Teachers and Schools * Teachers are learning to flip the classroom using tools like Zoom and LMS* Training videos are recorded in advance, where online video calls become more like coaching or Q&A sessions Get in the Beginner’s Mindset * Training is easier to produce when it’s super focused – don’t try to boil the ocean* Be sure to keep the customer in mind – get back to a beginner’s mindset What does an online course or training look like? * Different course frameworks:* Learn a process – e.g., learn a recipe* Behavior change – getting in shape, adjusting diet, etc.* Case Study – learn by deconstructing what others have done* Resource Course – create a library of very useful tools and materials* Hybrid – mixing the other four frameworks Focus on the Customer * Make everything about the customer, and not about money* Put the customer first: focus on the customer’s success and profits will flow in due course* Offer support for customers: provide weekly Zoom calls, create an online communities (i.e., a Facebook group)* Coaching at a group or individual level can deliver more value for those customers, and provide additional revenue for the business* Consider the