The Income Projection Formula
Our income project formula always gets our clients excited.
Every single time we sit down with a new client, we do this math. It’s simple (thank goodness, because I was a high school English teacher who, let’s just say, was NOT the go-to person on campus for calculus help).
This simple math allows us to show in plain terms how to determine our launch projections.
Have you thought about this? If not, let’s do it now!
How much will your course cost? Divide the amount you want to make by the course price and that gives you the number of humans you'll need to enroll to hit your revenue goal.
___(cost of your program)____________ / _____(revenue goal)________ = ______(number of enrollments)_______
While this math is absolutely illuminating for many reasons, I want us to all remember that the number of enrollments actually means THE NUMBER OF HUMAN BEINGS WHO TRUST YOU TO DELIVER FOR THEM! What an honor! Let’s never mistake this “number” for just a “number.” More on that in a different post.
Let’s dive in with an example….
The first class I ever sold online was delivered by email, once a day over the course of 3 weeks. Each email had a new lesson in it. I originally priced it at $47.
I remember thinking to myself… If I could sell it to 10 people, I could make $470 pretty easily! Awesome!
Out the gate, I sold it to 42 people and I grossed just under $2000. Then my vision grew. I then thought… ok– If I’m going to replace my teacher salary with this course, I will need to enroll 1000 people at $47.
Ok, cool… right on top of that… but wait… I didn’t even know 1000 people, let alone 100 who cared about this thing I was teaching. It got my wheels turning.
What if….
I increased the amount of value I included in the course so that I could charge a little more? (I could elevate my branding, add audio to every lesson, add testimonials from my first run through, and more examples to clarify the lessons.)
And…I got this new product in front of more than just my warm network?
So I did all that. The next time I launched it, I elevated my branding, added an audio component to each lesson, included more examples and testimonials, a bonus onboarding section to give people pre-work before the course began.
I decided to increase the price to $99.
I also enlisted the help of some friends who shared it with their networks, full of my ideal clients. That round, I enrolled 340+ people and grossed $34,000.
Pretty cool, right?!
Eventually that course made it in the hands of just under 2000 humans from 24 countries and capped out in price at $299.
Now, before you close this blog, let me make something very clear:
My point is not simply to increase your prices and your audience.
(Because, duh. Hot take.)
My point is actually to check yourself.
Most online gurus who teach course-creation or launching methods will show you “BEHIND THE SCENES OF MY 7 FIGURE LAUNCH” Or are posing in front of fancy cars and jets or like the simple, humble gajillionaire next door with the sparkling white kitchen, to imply that if your launches aren’t bringing in at least 6 figures per launch, you’re doing something wrong.
NO.
We will have none of that.
BECAUSE C’MON… Tell me you wouldn’t be stoked by bringing in $5000, $15,000, $25,000 from SELLING WHAT YOU KNOW?!?!
Right? It could be life changing.
My second-ever launch paid for a huge chunk of my wedding.
How cool is that?
We aren’t saying you won’t be a millionaire (or a hundred-thousandaire) by launching courses.
We ARE saying that knowing what you want and setting measurable targets of what is possible based on your current audience and budget is the first step in setting yourself up for success.
Which is what we want for you and what we want for us, too.