Episode
#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
1:09:34
Published: Wed May 19 2021
Description
Shaan (@ShaanVP) and Sam (@TheSamParr) go in on the courses industry. They break down the different types of course business categories, how to build them, and how to grow them. Shaan also talks about a Twitter fight he got into that got him blocked. The guys finish the episode by brainstorming on ideas ranging from "a bar-in-a-box" to selling ice to capitalizing on real estate vacancies. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: * (5:48) Why Shaan got into a Twitter argument * (18:21) Is On Deck the most over-hyped course company? * (23:35) The guide to course businesses * (45:30) How IPaaS (Irish Pub as a Service) is making millions * (53:32) Making money selling ice? * (58:41) Profiting from vacant office spaces
Chapters
Learn about how individuals and companies are making millions of dollars a year as course creators by leveraging their skills and building an audience with credibility.
00:00 - 01:42 (01:42)
Summary
Learn about how individuals and companies are making millions of dollars a year as course creators by leveraging their skills and building an audience with credibility.
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
The speaker talks about their own reading habits, mentioning how they tend to reread books they enjoy multiple times over several years.
01:42 - 07:37 (05:54)
Summary
The speaker talks about their own reading habits, mentioning how they tend to reread books they enjoy multiple times over several years.
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
The speaker discusses a Twitter exchange he had where he was accused of picking fights with journalists by replying to one who was "virtue signaling."
07:37 - 15:50 (08:13)
Summary
The speaker discusses a Twitter exchange he had where he was accused of picking fights with journalists by replying to one who was "virtue signaling."
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
On Deck offers cohort-based classes for one to three grand, with a start and end date for each class from their selection of 15 different options.
15:50 - 19:35 (03:44)
Summary
On Deck offers cohort-based classes for one to three grand, with a start and end date for each class from their selection of 15 different options.
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
On-Deck Podcasters is an eight-week program designed for individuals looking to grow their podcast.
19:35 - 25:43 (06:08)
Summary
On-Deck Podcasters is an eight-week program designed for individuals looking to grow their podcast. The course provides access to successful podcasters as speakers and helps to build momentum for individuals to go down the new path of starting a podcast.
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
Learn how to create a successful coaching service that can potentially make millions of dollars a year from course sales and in-depth one-on-one coaching sessions, as discussed by the podcast guest speaker.
25:43 - 29:22 (03:39)
Summary
Learn how to create a successful coaching service that can potentially make millions of dollars a year from course sales and in-depth one-on-one coaching sessions, as discussed by the podcast guest speaker.
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
MasterClass shifted from individual course purchases to a subscription-based model, but with the question of whether having access to an "all you can eat" buffet of courses is necessary for consumers.
29:22 - 33:12 (03:50)
Summary
MasterClass shifted from individual course purchases to a subscription-based model, but with the question of whether having access to an "all you can eat" buffet of courses is necessary for consumers. With a retention strategy based on minimum guarantees and revenue sharing, MasterClass has maintained low churn rates.
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
The speaker found cohort based courses to have higher completion rates and invested in Maven for its ability to make it easier to teach cohort based courses.
33:13 - 38:11 (04:58)
Summary
The speaker found cohort based courses to have higher completion rates and invested in Maven for its ability to make it easier to teach cohort based courses. Despite the challenge of low course retention rates, they believe it's worth fighting for to ensure customers get the full value of the product.
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
The key to selling enterprise learning platforms like Udemy is to have an effective sales team, and targeting Mormon communities who are well-known for being great salespeople.
38:11 - 43:45 (05:34)
Summary
The key to selling enterprise learning platforms like Udemy is to have an effective sales team, and targeting Mormon communities who are well-known for being great salespeople. The success of such platforms also depends on creating courses that individual employees want to learn and retain.
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
A company called Irish Pub Company has generated over $2 billion over 30 years just by selling Irish pubs in a box, claiming that the Irish pub style generates more revenue and foot traffic than a traditional bar.
43:46 - 48:29 (04:42)
Summary
A company called Irish Pub Company has generated over $2 billion over 30 years just by selling Irish pubs in a box, claiming that the Irish pub style generates more revenue and foot traffic than a traditional bar. They offer six styles to choose from and provide all the decor, shipping, installation, and consulting needed.
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
The podcast discusses unique ways to incorporate video gaming into bar decor and home design, such as retro arcade machines and tech setups.
48:29 - 53:44 (05:15)
Summary
The podcast discusses unique ways to incorporate video gaming into bar decor and home design, such as retro arcade machines and tech setups. They also explore the potential for licensed IP brands, like Disney, to create themed spaces.
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
The speaker highlights the growing trend of white people having specific hobbies like extreme coffee brewing and discusses the lack of impairments associated with these interests.
53:45 - 57:17 (03:32)
Summary
The speaker highlights the growing trend of white people having specific hobbies like extreme coffee brewing and discusses the lack of impairments associated with these interests.
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
The beer tracking app industry, while seemingly niche, can be a highly lucrative business with tens, sometimes even hundreds, of millions of dollars in revenue.
57:18 - 1:06:00 (08:42)
Summary
The beer tracking app industry, while seemingly niche, can be a highly lucrative business with tens, sometimes even hundreds, of millions of dollars in revenue. Additionally, a significant portion of Airbnb's bookings come from stays longer than 30 days, reflecting a growing trend of millennials looking for longer, more temporary housing options.
Episode#183 - How Course Businesses Work, How Irish Pubs as a Service is Making Millions & Profiting From Vacant Office Spaces
PodcastMy First Million
The podcast discusses the growing trend of people living two to three months out of the year in different locations and wonders if it’s simply a wealthy person’s privilege, or if more and more people can now afford it as well.
1:06:00 - 1:08:22 (02:22)
Summary
The podcast discusses the growing trend of people living two to three months out of the year in different locations and wonders if it’s simply a wealthy person’s privilege, or if more and more people can now afford it as well.