052: With 600 students in 10 countries, her online courses grew 214% in the last 6 months. Quit corporate to start a consulting business in marketing/branding/strategy, sick of selling her time moved to online courses in mid-2018 (Emily Osmond)

Presented by Troy Trewin

Troy has worked intimately with 26 businesses in 20 years. He knows their numbers, understands their growing pains and people issues and has helped with most financial aspects, as well as having coached on leadership and management.

November 8, 2020

In this episode, I interview Emily Osmond, an international marketing coach, speaker, and podcaster. She is the founder and editor of Australian interiors blog GetinMyHome. Her podcast, The Emily Osmond Show, shares practical strategies and candid real stories of entrepreneurs to help other entrepreneurs make marketing, mindset, and money their superpowers. Aged 27, she left the marketing world in corporate five and half years ago to start a consulting business focusing on branding, strategy, and website design. 

She had the idea to try providing online courses and hasn’t looked back. She launched her first course within a few weeks of having the idea back in mid-2018. She now has 500+ students in more than 10 countries and banked $40,000 in the first year of selling the courses. In 2019, she grew that to $200,000 compared to the $100,000 she made in her first year of providing consultancy services. The courses have grown 214% in the last six months since April 2020. She has one and half full-time employees, has funded the business purely from savings, and spent $60,000 on professional development in the last five years. 

Emily has worked hard on pricing and her mindset to be able to shift to then succeed with online courses. She felt she had succeeded when early in 2020 she checked the Stripe bank account and was able to reduce her work hours. Emily believes the hardest thing about growing a small business is, “Mindset, backing yourself, knowing there is no manual, and trusting yourself” The one thing she says she would tell herself on day one of starting out in business is, “You can if you think you can” Stay tuned and enjoy!

This Cast Covers:

  • Starting out a service-based business and later shifting the business model to run on her online programs.
  • Building a business out of her passion for running workshops and teaching business owners how they can do their own marketing.
  • From $100,000 a year in revenue to $200,000 a year solely from the online programs with four additional income streams.
  • Working with a team of skilled professionals on a part-time basis to boost the profits of the business.
  • The lessons she learned from the challenges she went through with pricing.
  • Working predominantly with women who run home-based businesses that are in their first 3 years of operation.
  • Using a combination of content marketing, Facebook ads, and podcasting to market her business and build her audience.
  • What the Emily Osmond Show is all about and where it’s currently at.
  • Maintaining a 6 to 10% churn rate for her online programs by studying exactly what causes people to exit and coming up with ways to solve the highlighted issues.
  • Currently having 400 students paying every month with over 600 students having gone through her programs.
  • The immense benefits of using Kajabi to sell her online programs.
  • How to upload your customers’ email addresses into Facebook and use that to figure out your target audience.
  • Starting the business with her own cash and growing it from profits.
  • Being trapped in the mindset of what other people were doing successfully and how she got out of it to just do her own thing.
  • The power of mindset and boundaries when running an online business.
  • Having to make decisions in the business and the pressures that come with it.
  • Overcoming the belief that she was not good at numbers to figure out all the numbers related aspects of her business.
  • Hiring people who free up her time so she can focus on her core business activities.
  • Achieving work-life balance by specifically building her business to allow her to have a low number of working hours.
  • Uplevelling her skills and building lots of great relationships from spending $60,000+ on her personal development.
  • Working less in the business by setting up systems and trusting others to run things.

Additional Resources:

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Quotes:

“Mindset is the number one thing that can hold us back as small business owners” – Emily Osmond

“Know your numbers while your business is running” – Emily Osmond

“There is no manual for running your business so trust yourself” – Emily Osmond

“You’re not going to be able to achieve anything if you actually don’t believe it’s possible” – Emily Osmond

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Music from https://filmmusic.io “Cold Funk” by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/

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