Holy moly, time flies when you are having fun.
No, not just the fact that it’s been a full month since I last saw y’allz lovely faces in the monthly update... but bigger picture that it has been almost two full years since we incorporated Teachable.
It’s a funny story - I still remember the day Teachable (Use Fedora Inc. at the time) became a real legal entity on May 3, 2014.
After much back and forth, I finally convinced our first investor (hey Matt) to invest in the business. He emailed me asking for company bank account information to initiate the wire transfer... which was awesome.
Except that we didn’t have a bank account. In fact, we didn’t even quite exist at the time. Legally speaking, at least.
Cue rushing an online incorporation, printing out paperwork, sprinting to the nearby Bank of America, opening an account and very, very casually replying to Matt’s email a couple of hours later with the brand new account information.
Now, here we are, 2 years later with a team of 18 amazing individuals.
And if you are in New York City on May 5th, I’d love to invite you to come meet all the aforementioned amazing individuals getting their drink on for Cinco de Mayo.
Now let’s talk biz.
Instant Payouts on the Professional Plan
Alright Teachable tribe, we listened to you. As of just over a week ago, our brand new Professional Plan has absolutely no transaction fee up to $5,000 per month in sales AND the ability to receive your money instantly.
How? It’s simple. Plug in your Paypal account and your bank account (via Stripe) and every student purchase goes straight to your accounts without even touching Teachable:
Our old Professional Plan paid out with an average of a 45-day delay and a 5% transaction fee, both of which have been completely eliminated.
We added a few more features to every plan as well, you can read a complete overview here.
Final Release of Drip Content...including on the Basic Plan
I’m stoked to announce the private alpha of drip content we had in the works last month is now complete and deployed.
This was a tricky one. Initially, it was intended to be a feature for the Professional Plan only, but after much advice from our Facebook Group, we decided to add it to the Basic plan along with a reduced transaction fee on the Basic plan of 5% (from 8%).
After having looked through many different implementations of drip content, I’m psyched with our version of drip content. Aside from the patently obvious, the three killer features of our implementation are:
- Customized Email Notifications: Being able to pre-write the email for the release of each section has dramatically increased the number of things we can do with it. You can now use Teachable to release “video-series” type courses, e-mail only courses and more.
- The Drip Pipeline: Unlike other drip tools that don’t provide any insight into where students are, we show you exactly where in the pipeline people are for your given course.
- Being Able to Grant Full Access to Anyone You Want: When we first released The Profitable Teacher, even though modules were being dripped out there were people that wanted instant access (they were even willing to waive the right to refund!). Thankfully, in the Admin Panel, you can simply click a button and give any student instant access to ALL modules without having to wait for the drip to take place.
I know we got some criticism about how long it took us to build drip content - but ultimately, that ties into our way of doing business.
We’d rather take our time building something out and make it the very best in the industry.
Editable Email Templates
You know sometimes when you have that nagging item on your to-do list forever? That’s what editable email templates were for us… and boy, does it feel good to knock it off.
In no small part thanks to one of the newest members of Team Teachable, Natalia, every single e-mail sent from your Teachable school is now completely editable on the Professional plan and above.
To change the header and CSS does require slight technical knowhow, but even for the technologically challenged, you should be able to change the email text easily from the Email Body section.
Between the Custom Text option, the Power Editor, the ability to add your own Webhooks and now Custom Email Templates, every single aspect of your Teachable school is now editable.
FEATURES THAT NO ONE IS USING AND IT MAKES ME SAD
Alright, the last two hidden gems were very well appreciated so now the pressure is on to find little-used features erry single month. Game on.
This month I present to you…*drumroll* Closed Captioning.
How many of you (be honest) knew that on Teachable you can have subtitles and closed captioning on your course videos?
Right, I thought as much.
It’s simple. In the lecture edit mode, hit the first button next to each video thumbnail which will prompt you to choose your language and upload an SRT file:
An SRT file is the standard format for uploading subtitles to a video - for more information on how to create an SRT for your course videos, holler at my boy Google.
OUR FINEST CONTENT FROM THE MONTH
Have y’all seen the Teachable blog lately? It’s taking off like crazy.
Why? Consistent, quality content. Ashley has upped our blog post frequency, rolled out an active guest blogger program and we now run two different active newsletters - the blog newsletter on Thursday and Make Change Weekly on Friday.
Without further ado, here are the best pieces from this month:
- Data Says You Should Create an Online Course
- The Ultimate Guide to Launching Your Online Course
- Carrie-Anne Moss Will Inspire You to Share Your Passion With An Online Course
- Six Steps to a Successful Presale
And remember, if you’re not yet a subscriber to Make Change Weekly - our weekly round-up newsletter of all things good in the online hustle space - you want to get on that STAT:
- Thomas Frank of College Info Geek
- Lauren Hooker of Elle & Company
- Kayla Hollatz of KaylaHollatz.com
- Sam Parr of The Hustle
WHAT’S HAPPENING NEXT MONTH
It’s a big hiring month at Teachable, so if you fancy yourself wanting to join our family, here are all the open job listings at the moment:
- Senior Software Engineer
- Front-End Developer
- Software Engineer
- Customer Care Specialist
- Technical Content Creator
- Partnerships and Affiliate Manager
Sadly, all jobs require physical presence at our sunny Union Square corner office in New York City. It’s a tough life.
On the product side, we’re spending this month cleaning up outstanding projects - including completing our VAT integration, rolling out notifications for native comments and a sexy redesign and reorganization of our instructor admin panel.
On the marketing side, we’re hosting our second ever online summit in the second week of May. This summer is focused on bloggers, writers and authors creating their first online course and it’s gonna be super LEGIT.
We’re calling it the From Book to Course Summit and if you fancy hanging out with Tucker Max, Pat Flynn, James Altucher, Laura Roeder, Jeff Goins, Vanessa van Edwards, Jane Friedman and the rest of the crew, you are going to want to sign up now.
Until next month -- or until the summit y’allz.
I want to hear from you. What made you decide to choose Teachable?