DIGITAL PRODUCT #5:
THE LIVE PAID VIRTUAL WORKSHOP
The Your First 1K Ultimate Guide to Digital Products
The Your First 1K Ultimate Guide to Digital Products
This is one of my favorite digital products to create! There are lots of advantages of delivering this type of digital product live, and then selling the recording.
The live paid virtual workshop really becomes passive in the “phase 2” where you put the recording up for sale as a digital recording.
(Please note, this article contains affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. I only recommend products that I use and love. Thank you for your support!)
As with all of these passive income examples, creating the product the first time takes time and effort!
But what I love about the paid virtual workshop is that it’s really easy to create and prepare for, since you deliver the content live (as opposed to recording a bunch of video lessons before you release it).
In this sense, it’s quicker to produce than a video course.
A paid virtual workshop is usually a 2-3 hour live workshop that includes lots of valuable information and sometimes a workbook or accompanying PDF.
The paid virtual workshop is presented just like a webinar! It’s essentially a high-value, paid webinar where there is no pitch at the end and you can sell the recording.
I’ve seen virtual workshops priced at $29 - $299, it’s really all about the content you’re sharing and the value you provide.
Creating a live, paid workshop is pretty quick! It doesn’t take much prep, which I like.
You’ll need to create the slides or teaching materials for the live workshop, and that can take more or less time depending on how fast you make slides.
(It personally takes me a long time to make a slide presentation).
For a 2-hour paid workshop, you might spend about 5 hours creating the slides.
Then you’ll want to have a supplementary PDF or summary, or maybe a workbook, which might take another hour to produce. (This should be based on the content in the slides you’ve already made).
Then you deliver the content on a live webinar format, which is 2 hours of being live.
So altogether, you’re looking at about 8-10 hours total to create this passive income product.
Since this type of digital product is originally delivered like a webinar, you’ll need some additional equipment.
Slideshow Software: G Suite’s Google Slides
You’ll need a software to create your presentation. We love using Google Slides from G Suite, which is easy to use and included in your Google Drive!
You can also use Keynote or Powerpoint!
Payment/Checkout Cart: Samcart
As with any digital product, you need a way to get paid and process payments!
We love and use Samcart, which is easy to set up and use. You’ll sell “tickets” to your live virtual workshop event through Samcart.
Email platform: Convertkit
You’ll need to keep track of who buys the product through your email service, and tag them to put them in a segment.
I recommend Convertkit for creating your segmented list of those who buy, so you can send them updates and keep track of them.
Microphone: ATR 2100
If you’re delivering a live virtual workshop, you want to make sure the sound quality is really good for the recording!
This microphone is what we use for our podcast and recording all of our courses, and it’s super affordable! I actually like it better than my more expensive microphones I've had in the past.
Webcam: Logitech C920
If you’re going to be on camera for any part of your presentation or workshop, even just to welcome people to the virtual event or to do Q & A at the end, you’ll want a decent webcam that isn’t your built-in laptop webcam.
(Again, you want the recording to be quality enough to re-sell since that’s how this becomes a passive income stream!)
We love and use the Logitech C920, you’ll love it for webinars and Q & A session and Skype calls and coaching calls! It’s a great investment for so many things.
Password Protected Page or Platform: Squarespace or Teachable/Thinkific
Finally, you’ll need a place for people to go to watch the paid workshop live!
Now, if I was really bootstrapping things I might just put this on a page with a weird URL that was hard to guess, something like “mydomain.com/ABC123” or whatever so it was hard to find.
But I suggest you put it on a password protected page or even in a password protected platform like Thinkific.
When I starting out, before I had a course platform, I would create a simple password protected page on Squarespace, as shown below.
This way you had to have the unique password to “log in” and see the broadcast on the page.
You don’t have to spend a lot at first, just use what works for you!
Altogether, the equipment you’ll need for a paid live virtual workshop will cost about $180.
Remember, a lot of these costs are things you probably already have (like an email platform or checkout cart software since you need that for everything!) or things you will use every day once you have them (like the microphone and the webcam!).
If you charge $197 for a single ticket to your live virtual workshop you’ll make back the cost and more with just one sale!
The paid virtual workshop also requires more set-up and skills than something like an eBook or email course.
If you’ve ever set up a webinar before, you’ll have no problem!
But if you haven’t done a live broadcast, it can take a few minutes to get the hang of it.
(I recommend you practice with a few free webinars first to get the tech stuff all set up and feel confident in “going live” - we have a free checklist for doing your first webinar here.)
You’ll need the skills to create a slide presentation. You don’t have to be a professional designer since Google Slides makes it easy.
You’ll need the skills to set up your live broadcast and embed it into the page people will watch it on, whether that’s inside a course platform or a Squarespace page.
And you’ll need to be able to teach live with confidence!
On a scale from 1 to 5, I’d say the skill level is a 3. It’s not too complex but can be a lot to learn for a total newbie all at once.
Let’s see some examples of the paid workshop recording being sold for passive income.
Remember, you can sell the tickets to the live workshop for a profit, but it becomes a passive income stream when you sell the recordings!
Femtrepreneur’s “Mailchimp Basics” (No Longer Available)
I actually delivered this as a totally free webinar, and then planned to sell the recording after. It was $29, super affordable, and did make sales passively when it was available.
Femtrepreneur’s F*ck Yeah Funnels:
I originally delivered F Yeah Funnels as a live workshop, which was about 2 hours of super actionable content plus a workbook.
I had special “pre-sale” pricing and then I increased the price to $97 for the recording.
Delivering the content live the first time meant I didn’t have to record a bunch of videos before hand. I prepared a slideshow and a workbook and presented it live, then did a Q & A after the presentation.
Then I sold the recording as an evergreen self-study, instant-watch product. It sold passively every day!
(Now it’s an upsell to our other program and not available on it’s own as I write this.)
(Please note, this article contains affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. I only recommend products that I use and love. YourFirst1K.co is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. Thank you for your support!)