How to Build a LEGIT Online Course (2023)

Video

Summary

• Legitimacy in education is critical; Harvard and scammy $1,000/month marketing schemes both sell education, but Harvard is seen as legitimate because they have strict acceptance criteria.
• Real businesses must have screening metrics for customers to prevent dissatisfaction and the label of being a scam; sell to qualified customers only.
• Avoid giving income expectations. Instead, provide data and track customer success metrics without sensationalism; set realistic timelines for customer results.
• Harvard's value is in the brand endorsement, experience, network, and character development; businesses should focus on these elements rather than just income testimonials.
• Giving away high-quality content for free and selling the implementation can build legitimacy and value.
• Not everyone should graduate from your program; maintain high standards to uphold your brand's reputation.
• Set clear expectations based on data; experience-based testimonials can be powerful if they reflect the actual outcomes of your program.
• By limiting supply and providing superior content, you can keep prices high and establish thought leadership.
• Only endorse and graduate the best candidates from your program to ensure your brand is associated with excellence.
• A rigorous selection process and strong outcomes can justify a higher price for education; it's an investment in future earnings and value, not a scam.

How To Take Action

I would suggest implementing a selection process for customers. Like how Harvard rejects applicants, do this to make sure folks are a good fit for your service or product. If you only let in people who will likely succeed, they'll be happier and so will you. Less bad reviews and scam calls, right?

Focus on giving out real information, not just promises of making money fast. Share facts and numbers that show what success looks like. For example, if you have a course, tell people what percentage of students really do well after they finish, and how long it takes.

Give lots of high-quality info for free. When people see your free stuff is awesome, then you charge for helping them use it. This builds trust and shows you know your stuff.

Don't pass everyone who buys from you; keep standards high. If someone isn't doing great, don't just say they're awesome to keep them happy. It's better to have fewer graduates who are really good than lots of okay ones.

Set expectations based on what's real. Share stories from people who've been through your program and talk about the actual experience, not just the money they made.

Keep supply lower than demand to keep your prices up. Make more great content than anyone else, and give it out for free. This way, people will think your paid stuff must be even better.

Remember, quality over quantity. If the graduates of your program are the best, companies will want more and friends of your graduates will want in too. Then you can charge more, because you're offering real value, not just promises. It's all about putting in the work and having patience. Build it up right and success will follow.

Quotes by Alex Hormozi

"Turns out there's only four things"

– Alex Hormozi

"Most people probably aren't qualified to become customers"

– Alex Hormozi

"You give away the secrets; you sell the implementation"

– Alex Hormozi

"Harvard doesn't graduate everyone, some people fail"

– Alex Hormozi

"If you build it for a year…they're all killers, Savages"

– Alex Hormozi

Full Transcript

thousand dollar a month in 30 days scam businesses marketing all over the Internet and on the same degree you've probably seen Harvard market and say you might maybe graduate from Harvard and that's the only promise they make and you can pay us 250 000 a year and so what's the difference between this clearly scam business and this incredibly legit 100 plus year old business it turns out there's only four things and I apply this strategy in building acquisition.com that only buys companies that's all we do this is how we do it there are multiple levels of legitimacy for education on one side you have Harvard most people don't call Harvard a scam but they fundamentally sell education and on this side you've got a guy who tells you how to start an ATM business and promises that you're going to make a hundred thousand dollars a day in five seconds they both sell education and on the scam index why is this one maxed out and this one's a zero number one Harvard turns people down I applied for Harvard for 10 times rejected if every single person who apply eyes to work with you and the only requirement to become a customer of yours is a credit card and a pulse ding ding ding red flag number one most people probably aren't qualified to become customers and if you define a qualified lead as somebody who has the highest likelihood of success with your program or service or education then you should have screening metrics for who is not a good fit it's more likely that they'll be upset leave you bad reviews call you a scam which you can easily avoid number one by selling qualified customers only number two is that Harvard doesn't give income expectations they don't say become a Harvard graduate make money tomorrow there's a delay between when you start and when you actually even graduate and get the endorsement of their brand which to be fair is really what Harvard sells is the brand endorsement that you get to put on yourself the second thing is that instead of giving testimonials of students on income I graduated Harvard and I got my first job at 185 000 at Goldman Sachs you don't see that anywhere on their site but what they will publish is is data and this is [ __ ] huge if you do not track your customer success metrics meaning when someone buys what percent of them succeed at 30 60 90 12 months what are the averages for whatever the thing that you educate them on if you track the data then you don't add any sensationalism to what you're reporting Harvard publishes what the top 20 percent with the average with the median person gets and what industries their graduates go into because that's data they're not setting false expectations and they're not saying this is what you can expect in six weeks They're saying four years ago these people started and today they graduated and this is what they got the highlights that they have at Harvard are not the income but the experience and the network and the relationships and the character development now if you're thinking to yourself man it would be harder to sell people that way but if you do it that way and you only let in really good people what do you think happens you start to develop a brand for example I was having this discussion with Jacob my neighbor because he was saying he was considering starting a sales School whether he does that or not at some point in the future is irrelevant but I said if you were going to start one then you want to be legit about it because you see everybody and their mother has a sales school right now because they start selling High ticket they immediately make 20 grand a month and they start a course on how to make 20 grand a month that's a high ticket closer if you want to be legit about it what you would do is you would give tons of content away for free this is pillar number three you can monetize the education itself you can sell education but I think the smart move and if you've consumed any of my stuff is that you give away the secrets you sell the implementation take all the content you would normally sell as your course and give it all away for free so if I were selling the ability to sell then I would give away the course as content through all the different platforms I pass we could and the implementation would be let me listen to your sales calls give you feedback in real time and then monitor your performance over that period so that you become a salesperson pillar number four Harvard doesn't graduate everyone some people fail and the reason for that is because Harvard wants to maintain their brand because what they say is sure Johnny graduated from Harvard with a 1-6 GPA now he was smart enough to get in but through the four years we saw that he didn't have some of these other character traits so I was telling Jacob if you want to be smart about it number one you would just show the data number two you would probably not accept ninety percent of people who want to be sales people because you could immediately tell in the interview just like Harvard does that you're probably not going to be a good salesperson so it's easier to find people who have proclivity for sales and then just get them this much better and then endorse them but before you have the endorsement you still rank order them on who you think has succeeded the best and have the possibility that someone pays and does not get your endorsement because that is how you long term maintain the brand and so let's play this out how could we get 100 of people who graduate from my thing to be the best salespeople first thing is we pick people who are naturally good at sales second thing is cut out the people who are not third we set expectations that are only Based on data and the remainder of our testimonials and stories are based on the experiences of people who've gone through our system or programmer implementation I establish far more demand for my service than I have Supply so that I can keep my prices High by generating more content that is better than everyone else's paid stuff you maintain thought leadership and all they do is copy what you have and everyone else can then make a judgment wait their free stuff isn't as good as your free stuff so then your paid stuff must be better than their paid stuff that's the natural logic that the marketplace will always do let's say you did it and you had a really high standard and you've only been making content for let's say a year now if you're like wait only a year yeah it takes time to build big ship so if you build it for a year and let's say you only got 25 people to graduate but they're all killers Savages what do you think is going to happen to the companies that they go get jobs at you got any more now you have even more Demand on both sides what do you think is going to happen to the Friends of those people who start making twice with the industry averages for sales guys because they're that much better their top 20 top 5 sales guys rather than just run of the mail sales guys their friends are gonna be like if I'm gonna make three hundred thousand dollars a year rather than the industry average sales guy making 60 I make five times the income how much more valuable is this one-year education well we know Harvard charges people 250 000 for their four years so for a year you could probably charge a lot because you have the data to support the fact that one you don't let everyone in two when people graduate you also have a rank order is that an education business abso [ __ ] lutely is it a scam in no possible [ __ ] way