How to make money on Skool

How to make money on skool

So you’ve heard about skool.com. And you’ve heard how it’s a great opportunity to build a monthly income. But how on earth do you actually implement this? How do you make money on skool? Well you’re in luck. I’m going to take you step-by-step through the process of how to make money on skool by building your skool community. So you can start earning a regular monthly income. You’re going to want to bookmark this page 😜

If you don’t know what skool is, you should check out my skool review and then come back to this page.

How much money can I make on skool?

So how much money can you make on skool? Well the short answer is “it depends”. It depends on how much time and effort you are going to put into it. If you are willing to put in the work, the rewards could be great. If you are not, they won’t be. So, there is literally no way to answer this question. The question you should be asking is “how can I make money on skool”. This is what we are going to look at in this post!

Why should you take my advice?

This is a good question. Why should you listen to me. Well I’ll tell you why. Over the last 6 months something has clicked inside my brain. I’ve been taking action and seeing results. I’ve been listening to the advice of highly successful, entrepreneurs. Then implementing this advice. This has led to the huge growth of my YouTube channel and website traffic.

I’m putting my money where my mouth is

Now whether you take my advice and follow my guide or not. That’s completely up to you. But I am going to be implementing this exact plan myself. And posting the results for you to see. So do as you wish with this information.

Considerations when trying to make money on skool

Before you start even thinking about creating a skool group. It’s important to realise a couple of things:

1. Skool is not a get rich quick scheme

   Like anything worth having, it takes time to build a solid community. Unless you already have a huge following, you are not going to make vast amounts of money over night. However it is possible to build a small but steady income stream in a relatively short period of time.

2. Making money on skool requires effort

   You will have to put effort in to make money. This is the case for any way of making money. However the beauty of skool is you are putting effort into something you enjoy!

3. Treat this like a business

   To make a success of this. You will need to treat it like a business. Businesses take time and effort. Business is also about capitalising on opportunity. And this is the great thing about skool. It’s still early. The opportunity is still huge.

Now ask yourself. Do I have what it takes to make this a success? Am I willing to put the effort in? How badly do I actually want to make a decent recurring monthly income?

If you know you are the kind of person who quits after a week or two. Don’t even bother signing up for the 14 day free trial. There is literally no point. You can also stop reading this page right now, and go back to playing video games.

For those of you who are serious about creating an income stream. Let’s get into the details of how to make it happen! Believe it or not. I’m going to give you an actual strategy. This is a strategy that you can implement today. And is the exact strategy I am using myself. And if you follow through with it, could see you making money within the next few months. Now in this step by step guide I am going to make some assumptions about you.

My assumptions about you

1. You are computer literate

   I am assuming that you know how to use a computer and a phone. And that you are comfortable navigating your way around the internet. This guide is not going to focus on “how to sign up to skool”. It’s going to tell you how to get members to sign up to a skool group. And how to then monetise these members.

2. You don’t have a large existing following

   I am assuming that you don’t have a large following already. If you do have an existing following, this will be helpful. But this guide assumes that you do not.

My promise to you

Before we go any further. Here is my promise to you. If you create a group on skool. I will help you. Once you have created your group. Drop me a message to let me know about your group. I will happily be your first member (if your group is free 😅). I will also get involved with the community by commenting and being part of its activity.

Now we have got that out of the way. Let’s get into it.

The step by step guide on how to make money on skool

So this is the good bit. The step by step guide on how to make money on skool. Read it carefully. And good luck. Here we go…

Step 1: Find your niche

The first step is finding your niche. A good way of narrowing this down is by asking yourself these questions:

• What do I know a lot about?

  If you know a lot about an a particular subject. This is a great place to start. Being knowledgeable will allow you to provide real value to your audience. Which is the key for long term success.

• What am I interested in?

  If you pick something you are interested in you are more likely to stick with it. It will also be a lot more fun! Maybe there is a sport you are good at and can give tips on.

• Who is your target audience?

  Target a specific group of people. By doing this you make it more likely that those people will resonate with your message. And therefore join the group. An example of this could be a group that helps plumbers get more clients. Now there are lots of people out there who want more clients. But by focussing on plumbers you are resonating with a specific group. Imagine you are a plumber for a second. Which group are you more likely to join:

  • Get more clients for your service based business
  • Get more clients for your plumbing business

  The answer is obvious, isn’t it? You would join the second one because it resonates more with you and is more specific to your situation. Think about how you can do the same.

Now remember, you can make a skool group about anything. It doesn’t need to be business related. It can be about anything. Maybe you are good at a particular video game and can provide tips on how to become better. Maybe you are good at editing videos and can teach others to do the same.

Step 2: Create your skool group

Now you have decided on the type of group you are going to create. You can sign up to skool. The great thing is you get a 14 day free trial, so if you decide you don’t want to continue it costs you nothing!

Step 3: Create your first posts

Now we want to start adding some substance to our skool group. There is no point growing a community if we have absolutely nothing to offer them.

Create a welcome post

The first thing you want to do is create a welcome post. This is a post that will go on your skool group, introducing yourself and the purpose of your group. In this post, outline why your group is good and how it will help your members. Encourage members to introduce themselves and say what they are looking to get out of the group.

Create a “what is to come” post

Create a separate post. In this post you want to outline what you will be creating in your course. This is where we want to reassure members that the course materials will be added in the future. This lets them know they should stick around in the group in order to see this when it is live.

Step 4: Create scarcity

Now this step is important. We want to create scarcity. We do this by limiting the number of members allowed in the group. Or the number of members who are allowed in the group for free before it becomes a paid for group. This scarcity encourages members to join and creates a level of urgency. It’s human instinct to want something that is scarce. This is why diamonds are so expensive, because they aren’t easily available and there aren’t many of them!

How to I tell members about the scarcity

Its important that you let your group members know that opportunity is limited to only a specific number of members. Mention this scarcity in the group description. You can also write a post about this in the community section along with your “welcome post” and “what is to come” post.

Step 5: Invite your friends

Get the ball rolling with easy wins

In the very beginning it is going to be hard to get users to join your group. This is especially hard when you have 0 users. Or 1 including yourself. This is why we want to reach out to people we already know. Ask me to join your group. I will join and get involved in the community. You just have to ask. Ask friends and family members. And ask them for a favour. Ask them to join your group. Ask them to post a comment or ask a question. Ask them to get the ball rolling. Tell them it would be a huge help.

People like to help people. Post this request on your social media too. The chances are you will get quite a few new members. Whether these members stick around in the long term or not. We don’t care too much at this point. The main reason for this is because we don’t want our group to be empty. An empty group is a big turn off for potential new members.

Step 6: Drive traffic to your skool group

This is where the hard graft comes in. And this is where you will either sink or swim. We need to drive traffic to our skool group. But how do we do this? Well there are many ways, but this is what I’m doing:

1. Create a website

   We need to create a website. Why? Because with a website we can target people who have a specific problem. And then provide them the answer to this problem. And the answer to their problem is joining our group on skool! The important thing here is not to get bogged down in the process of building the website.

   What we want to do is get a site setup as quickly as possible and then focus on writing blog posts. The blog posts are what is going to bring in traffic, not the design of the website. My own skool group – LIVE on day ONE shows you exactly how to get a website setup and live in the shortest amount of time.

2. Post on social media

   We need to be spreading the word of what we are up to. But we shouldn’t be spamming our skool group everywhere. Instead we should focus on creating engaging and useful posts. Posts that talk about the problem we can fix.

   So for example, my skool group is aimed at building websites quickly by prioritising what is important and not getting bogged down in minute details. So I create videos with titles like “Why does it take you so long to build a website?” In these videos I talk about the reasons why this happens, and what you can do to avoid this. I will then say, join my skool group for more help in doing xyz.

   The point is, my focus isn’t on spamming my skool group. Its about creating valuable content with good info. This makes you look like you actually have something of value that is worthwhile joining!

3. Combine your website and social media posts

   This is what I am going to be doing to streamline the process. I will be creating a video, then writing a blog post. The blog post will be repeating the information for the video. And the video will also be embedded in the blog post! This means that I only need to think of one idea to create 2 pieces of content. Not only that, the video being on my blog post will ad more value to the post. Some people prefer to read, others prefer to watch a video!

4. Don’t over do it

   You want your content to be the main focus of your social media and website posts. You then want to mention your skool group and how it could benefit them by being a member. If your main focus is “join my skool group” it will probably come across too salesy – and people get put off by this. Instead, provide a ton of value. Then mention – for exclusive content on how you can do blah blah blah, check out my skool group.

Step 7: Build out your course

Once you have the ball rolling with your content creation, you need to focus on your skool course. This is crucial as this is one of the factors that is going to make members stick around.

Exclusive content

You want the course content to be exclusive to skool. If you are reposting your publicly available YouTube videos to skool, there is not much of an incentive for people to join your group. After all they can just access your content on YouTube.

This exclusivity will be one of the main reasons people come to your group. So this is important.

Step 8: Repeat and nurture

At this point you have a solid foundation in place. Now you need to keep on creating website and social media posts. And keep on creating course content. It is important that you do both of these things consistently and don’t focus all your attention on just one. This is to continually drive traffic to your skool group. And continually retain members.

You also need to nurture your community. This will be more important in the early days. When someone posts a comment, make sure you interact with them. Try and help them and ask questions. Eventually once you have a healthy amount of members – the community will interact with each other. But your involvement here is crucial in the beginning.

Step 9: Monetise – how to make money on skool

If you have made it this far. Congratulations 🎉. You have layed the foundations and can now look at how to monetise your group! There are different approaches you can take. Some obvious, some less obvious. You may also have your own ideas of how to do this. The point to remember is that your skool group is a tool that you can use in whatever way that you think is the best.

Charging a monthly membership

The most obvious way of monetising your skool group is by charging a monthly subscription fee. This can be done simply by going into your group settings and setting the price that you want to charge.

I have noticed that many skool group owners have a free group and a separate paid for group. This can be good because you can advertise the paid for group to your free group members. The difference between the two groups is that the paid for one will offer more value than the free one. It’s down to you how you decide to add more value. This could be in the form of more courses available. Or offering mentoring calls. It’s completely up to you what you want to do.

Pricing your monthly membership on skool

Consider how valuable the information is that you are providing when deciding on a price. Do you want to have lots of members and charge a lower fee? Or have few members and charge a high fee?

This will depend on what it is you are offering. For example if you are offering one on one coaching then you aren’t going to want to have thousands of members. You simply won’t be able to cope. Instead you might want 20 members each paying $100 a month. On the flip side if you are able to do a live call with hundreds of members watching you could charge less for this.

Using affiliate links

The next way you can make money on skool is by using affiliate links. Affiliate links are links that you use to refer someone to a product. If the link is clicked and the “clicker” goes on to make a purchase – you will make a commission on that sale.

There are many different affiliate programs out there. The key to success with this method is finding the right product fit for your group. An example of this might be an affiliate link for a hosting company when you have a group talking about how to make websites.

Charge for services

Charging for services is another way that you can make money on skool.com. Being a group owner of a group with followers is an indicator that you are an expert in your field. This in itself is a credential for you. It is proof that you know what you are talking about. Let’s say you have a web development group with a thousand members. An external person looking to hire a web developer will look at that and view you as an authority. This will also enable you to charge more for your services.

The service you offer will, of course, be specific to your niche. Consulting would be the obvious route to go down with this. Where people pay you for one on one calls.

Points to remember

It is important to keep these key points in the back of your mind at all times.

1. Speed is important

   Speed is important. What do I mean by this? Well, this one comes from experience. I am someone who has wasted a lot of time building projects that have never gone anywhere or even seen the light of day. Sometimes these projects have taken months to build and then just fizzled out. The quicker you build, the quicker you get results.

2. Perfection is an illusion

   Perfection is simply not possible. So don’t focus on this. Instead, focus on being decent and efficient. So create lots of good content, create a decent looking brand. But don’t try to be perfect, because you will waste too much time in the process.

3. Don’t get bogged down in minute details

   Don’t get bogged down in minute details. You may think the colour of your logo is the most important thing. But trust me, your members do not care that about it. Focus on what is important to your members, not what is important to you.

By following this process you will be on a strong path to making a success of your group on skool. Of course, there are no guarantees. And with most things in life, you get out what you put in. But the most important thing is that you give it a go. Because you miss 100% of the shots you don’t take!