
Case Study: Anatomy of a $10M Online Education Business

Carefully crafting our niche positioning and defining our teaching methodology exploded our sales and dramatically freed up my time.
Olly Richards • Case Study: Anatomy of a $10M Online Education Business
Having a system or methodology means it doesn't have to be you teaching it anymore. Why? Because if it’s the system you’re selling, it’s the system people are buying to get their results. The person delivering it matters less. When I made my first courses, I was designing and teaching everything myself. But after we defined the StoryLearning
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“There are no such things as business problems, only mindset problems.” And by God, I’ve found this to be true.
Olly Richards • Case Study: Anatomy of a $10M Online Education Business
A business should create an abundance of time and resources for you to live life the exact way you want right now… not in the future.
Olly Richards • Case Study: Anatomy of a $10M Online Education Business
I believe that the currency of life is experiences, and when we are in our old age, we will judge our life based on experiences we’ve had (not money in the bank)
Olly Richards • Case Study: Anatomy of a $10M Online Education Business
For StoryLearning, diversification of revenue streams was something that happened more organically than by design, to be honest. It began when I learnt from Dan Kennedy about the concept of unused capacity. This is the idea that we all have assets in our business which are underutilised, and can be put to work in one way or another.
Olly Richards • Case Study: Anatomy of a $10M Online Education Business
think new entrepreneurs often get lured into diversifying because they don't know how to grow. That's why you see people with so many side-hustles. But side hustles are for people with jobs who want to earn a bit of money on the side. Side hustles are not for people focused on growing a new business. Think of it like this… If you actually knew how
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The entrepreneur should think of the word diversification in a very different way. Here's my view in a nutshell: ● Don't even think of diversifying your core business until you're making at least $1 million per year ● Between $1-2 million per year, start diversifying ● Actively diversify your business model from $2-10 million
Olly Richards • Case Study: Anatomy of a $10M Online Education Business
Adding a community to your products is likely to cause you a lot of pain at first! But providing you have the resources to actually act on this feedback, it is the single fastest way to improve your products and continually improve the student experience.