Transcription
How much money I'm saving because I moved from Teachable to Easy Courses?
>> [music] >> Let's do a very quick video on the financials. Me comparing two main scenarios, the scenario in which I try to save money, I'm going to limit the number of students, courses, all these in order to avoid certain tiers of pricing. And of course, the actual recommended or the non-limited experience, which in my opinion is the one that you want to have whenever you want to grow. You don't want anything but you limiting you. So, let's make a deeper dive.
Well, this is a very simple analysis. All this is going to be remaining the same. So, I have other business expenses, I have domain hostings, email services, Canva Pro, Opus Clipping, and other tools. Actually, I'm not going to be showing those because those are not affected for this decision. So, this is the actual analysis. And remember, I'm going to be making the current one, forcing the lower tiers, trying to accept the humiliating terms of Teachable. And then I have the ideal ones, which are right here, which will be the ones that will be nice to have if money wasn't a huge deterrent. And of course, the alternative, which was Easy Courses.
So, I was in the growth program. I went yearly, which is Well, actually, we don't have to do the numbers. This is $1668 or something around $1700 per year. And remember, guys, that in the location I I'm right now, it's 16%, so I'm going to add that 16% tax. So, essentially, adding these two values and divided by a month, and I'm doing this because I want to compare the monthly return on investment. This is something around $161 per month what I was going to be spending. And of course, I'm trying to limit myself because, you can see, I have 50 plus courses. I have a lot of ebooks, so if you wanted to count, that would be 70 80 products. So, that would be limiting my academy to a lower number of ebooks or number of coaching memberships and so on. So, only 25 products, even bundles account for products. So, it's crazy for me. I will have to remove bundles and only stick to 25 courses. Not the best ideal scenarios. You can see the the gap here. It's almost It's more than double. So, yeah, maybe not the best idea to go to the advanced one.
So, assuming that I stick to that, I will still need to get email marketing service, which I haven't no problems. ConvertKit is okay. I was paying between 8 to 10k. Monthly will be something around this. They don't charge me tax, which is great. And in total per month in the lower tier say forcing myself to limit my business, the total expense will be $277 per month. You don't want to be operating with limited amounts or features. You want to be building your business without complications. So, this will be the ideal one. Focus in creating content rather than saving money.
So, if I wanted to do this, I will need to go for this advanced one. They will offer me 100 published products, which is relatively okay. Remember that I have 70 to 80 products overall. Again, thing maybe 1 to years I will be creating more content. Who knows? Maybe later on I can increase and they will prorate the amount or so. But as you can see, this is already very hefty amount, $309 per month. And not only that, guys. If I wanted to stick with Teachable, I will need to account for ConvertKit. And as I said before, I don't want to limit myself. So, I will go for the 15 to 20k subscribers. This is the amount I see in the website. No taxes. And remember this is needs to be added taxes. I get this, add this, and divide it by the months, it's $515 per month. That will be my monthly spending if I stick to Teachable, which as I said before, it's still limiting because I cannot grow more than 100 products, which many of you may say, "Wow, 100 products is too much, but in reality, you're making one ebook, one guide per course. If you have 10 courses, you already have 30 courses. And if you have some bundles that have several courses, you have 40 products already. And if you add a membership or tier membership or so, you're very quickly adding 50, 60 plus products. You can already see the comparison is almost twice the amount. You want to go from the low tier to the ideal tier. And of course, before I didn't know that I could ditch ConvertKit.
The alternative, guys, and was to go for Easy Courses lifetime deal. So, this is very interesting. After 2 years, 3 years, 5 years, I will no longer pay anything. This is going to be just a even returning an investment. So, the business was or the deal was almost $4,000. Good advantage is that they helped me to do it in three installments. Something around $1,300 per month that I had to do. I think it's great. Now, this is the main deal there was no taxes. So, yeah, technically speaking, tax was zero. And I did have to go for my Million Verifier account. This is a service that reviews all the contacts that you have been using because I had a lot of older list that I had to remove because, as stated before, I was limiting myself the lower tier to stay between 8 to 10,000 subscribers, the most active subscribers on my subscriber list. But I have 15 to 20,000 contacts. Most of them are old. They don't open their mails or are simply nonexistent.
Now, I did the numbers right here, right here. And the main advantage, guys, is that in this new model, I didn't know it, but I will be saving myself ConvertKit. So, when I purchase Easy Courses, I actually didn't consider ditching ConvertKit. But when I started using it, I said that, "Okay, maybe I can ditch it and I can still work with this." They have email campaigns, automations, and so. It's something that I'm going to be using for the next months and see if it works. If it works properly, I'm saving a lot of money. If it doesn't work, no problems. I just go back. Zero zero total business expense and this is a single one payment purchase because you can see this is for 20k subscribers that I need to check, $39 * 2, $78. So, the total new investment for this alternative will be 4k. Advantages, it's one payment. Disadvantages, it needs to be done in at least two three payments.
And finally, guys, I want to show you this comparison, the return on investment. I'm going to be focusing my attention in the lower tiers because I know myself I'm going to stick to those first and then make the bigger investment. So, I'm going to be forcing the lower tier, which will be this one right here. And the addition is of course right here, 277. And I'm adding these two columns, guys, because option one is if I remove ConvertKit, then of course I'm going to be saving even more. So, the return on investment is going to be quicker. But at that time I wasn't quite sure if this was real. So, I assumed that I need to stick with ConvertKit. So, keeping lower tier and keeping ConvertKit, the return on investment will be something around two years. I think this was already a good decision. So, it can be still developable because you need to do the migration and the headache of doing all the services, taking time, and so. But I'm pretty sure, I know myself, I will have gone for the 25 months. But oh surprise, guys, if I wanted to remove ConvertKit because later on I saw that actually I can do it, it will be 15 months. So, because I'm using Easy Courses mailing service, I can get rid of ConvertKit and now it will be something around one year the return on investment.
But guys, I'm pretty sure that eventually I was going to be growing or ConvertKit and Teachable will be increasing prices. So, why not compare directly with the ideal status or the ideal way of working, which will be going for the advanced subscription and going for a 20k list on ConvertKit. Now, you can see here is $500 the return on investment. And assuming I'm not going to be removing ConvertKit, it's 12 months. So, going for the expensive Teachable plan, keeping ConvertKit will be 1 year already the return on investment. But you know what, guys? And this is the current status I'm working with is that I decided that I don't need ConvertKit and that I don't need the advanced growth program of Teachable. Now, you can see, guys, this eight right here is essentially if I am spending this amount current ideal case, divided by the $4,000 that I had to spend. So, in eight months, that was already paid in November. So, should be sometime around July, August when I get to see my return on investment. And what will be the return on investment is essentially not having to pay a expensive plan in Teachable and not having to pay an expensive plan in ConvertKit.
Now, guys, I'm pretty sure that you're already saying, "But I need ConvertKit. I don't need to send more emails, more than 50,000 emails." That's okay, guys. But the actual chunk of my business was going to Teachable and Teachable was limiting my features. So, yeah, definitely, just by removing Teachable and maybe keeping ConvertKit, that will be still a good option.
So, there you have it, guys. This was a very quick analysis on my return on investment. But more importantly, these are the numbers that made me feel confident to move from Teachable to Easy Course. And so far, I couldn't agree more with myself back then that this is still one of the best decisions I have done for my business. By the way, guys, I'm going to be adding a link if you want to check out Easy Course. This is an affiliate link, meaning that I will earn a small commission if you decide to purchase anything either monthly, yearly, or lifetime. Make no worries, it's not going to be more expensive for you, but this really helps me to support the channel.
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