Learn about the journey to creating profitable online courses and membership sites with Pete McPherson in this episode of the LMScast podcast hosted by Chris Badgett from LifterLMS. Pete describes the failures he’s faced along the way to reaching success with his business DoYouEvenBlog.com. He now shares his insights and understanding of online business with others through his YouTube channel, podcast, and courses.
Learning from failure is something many people talk about in online business, but rarely something people actually put into practice. That’s why Pete loves covering failure, and how he and the people he knows change their approach after failing.
Most online course creators or membership site owners will fail the first time they launch, but that doesn't mean you should abandon it completely. It means you should analyze, learn, optimize, iterate, and make it better for next time.
It’s important to have a healthy relationship with failure, especially if you’re going to build up multiple streams of income. Because you’re not going to be building just one thing. You’re going to build lots of things, which amplifies the amount of failure you have to get through in order to get businesses, courses, and other projects to stick and be successful. Pete says he has failed around 30 to 40 times on projects in the last 3 years.
If you have an audience online or run a membership website, there’s an interesting trend Pete refers to as the 90-10-1 rule where approximately 90% of your audience is lurking and not interacting with your content, but following posts. Then 10% of users actually interact with posts. And the final 1% create posts and ask questions.
You can learn more about Pete McPherson at DoYouEvenBlog.com. He has links to his other projects there, such as his popular Elementor course, so if you’re interested in learning Elementor as a page builder for your WordPress blog or LifterLMS site, check that out. Thanks for joining us!