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Case In Point: A New, Profitable Way To Share
Your Knowledge
Interview in Business Essentials Ezine
September 20, 2002
Every good marketer is always looking for new and profitable ways
to create residual streams of income. Viki Nygaard of Mount Evans
Designs has discovered one such way. Let's eavesdrop on our conversation
to find out how you can share your knowledge in a new, innovative
way and earn a profit from two sources at once!
KARON: Hi Viki! Thanks for taking a few
minutes to tell us about your endeavors.
VIKI: Sure, Karon! Always a pleasure!
KARON: Tell us what you're doing in the
"knowledge" arena that's bringing you success.
VIKI: I'm teaching online courses at
a virtual school called LVS Online.
KARON: "Virtual" courses? How
so?
VIKI: I create lesson plans, and send
them to students (one per week) to complete. They then post their
lesson assignments online for me to review, correct and critique.
Everything I need to hold the classes is provided by LVS Online.
KARON: Sounds interesting! Tell us a
little more... like... does it cost anything to teach virtual classes?
VIKI: In my case, it doesn't cost me
any money up front. However, the school does keep a percentage of
the profits. Of course, time is money and it does take a lot of
time to actually write the lessons and also to communicate with
the students, in both answering questions and critiquing homework.
KARON: So all your "expense"
is in time?
VIKI: Right.
KARON: You mentioned there are two streams
of income that you get from teaching. One is obviously what you're
paid for each student who signs up. What's the other?
VIKI: Backend sales of products or services
I introduce to my students.
KARON: Ahhh! So LVS allows you to sell
to your students?
VIKI: ONLY if it's applicable to the
class.
KARON: How much money can be made from
the classes, Viki?
VIKI: Well, it depends on the number
of students and a couple of other factors, but you could easily
get between $500 to $1,000 per 6-week class session.
KARON: Really! Just from the classes?
Great! And what are the qualifications for teaching virtual classes?
VIKI: I never had any prior experience
before I started teaching. However, I have a high level of expertise
as a Web site designer who specializes in search engine optimization
designs. I am also highly computer/Internet literate, which is very
important in teaching online classes. What I did was I wrote a few
lessons and sent them to the owner of LVS to review. She felt that
they were very well done and spoke to the students at a level they
could learn at. I was invited to teach!
KARON: Super! So as long as you have
expertise in your field, and can communicate well in writing, you're
likely to be accepted at LVS *if* they have an opening?
VIKI: It's very possible.
KARON: Now, let me ask you this. How
do you introduce additional products/services to your students?
VIKI: I recommend additional products
and services that compliment what I'm teaching in the lessons. I
only recommend products that I own or services that I personally
use or have used in the past and feel will truly benefit the students.
I would never feel comfortable just shouting about every affiliate
program on the 'Net in order to make a few extra bucks. In the final
lesson, I provide the students with a checklist that outlines all
the resources that I have recommended throughout the course.
KARON: And how receptive are they?
VIKI: Those who are really serious about
learning and wanting to take their skills to a higher level are
the ones who are most receptive. They will often ask a few questions
about the product/service, which gives me the opportunity to "sell"
it to them by stating the benefits again.
KARON: And does it work? What's your
conversion ratio?
VIKI: Yes, it works well! I average about
10%.
KARON: Excellent! So - rather like ebooks,
you get the opportunity to write one set of lesson plans, teach
someone new skills, get paid for the class itself, and benefit from
backend sales of appropriate affiliate programs. Sounds great!
VIKI: I love it! It's a fun way to get
to know people and make some additional cash from two sources at
once.
KARON: Thanks for the unique insight,
Viki. I really appreciate you giving us the ins and outs of virtual
classes.
VIKI: Glad to do it!
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