How to Make Money with Skool: 6 Top Income Streams

Are you looking to start an online business using Skool.com as your community platform and wondering how to make money with Skool?

This platform isn’t just another social media site; it’s a goldmine for creators and entrepreneurs alike, and we’ve uncovered the top 6 ways creators are earning money on Skool.com.

>> Start a free Skool account here!

What is Skool and How Can You Make Money on Skool?

Skool isn’t your average platform. It’s a vibrant creator ecosystem where learning meets community, and where your knowledge can translate directly into making real money.

Launched by Sam Ovens, and now owned in-part by Alex Hormozi, Skool has really taken off lately, especially with YouTubers and content creators looking to cash in on the audiences they’ve built.

Some community owners are making thousands of dollars per month teaching their members and selling digital products.

What Makes Skool Unique?

Skool stands out with its:

1. Community-focused approach
2. Incorporate gamification elements to make your content more engaging and encourage user participation.
3. Diverse monetization options
4. Simple design and mobile app
5. Focus on community vs social media
6. Tons of successful communities to join and explore

This combination creates a perfect storm for those looking to monetize their skills and knowledge while encouraging user interaction.

The YouTube Skool Funnel: Your Secret Weapon

Want to know the best way to make money with Skool? Enter the YouTube Skool funnel.

Here’s how it works:

1. Create informative YouTube videos on topics your audience craves.
2. Mid-video, tease exclusive content available in your Skool community.
3. Link to your Skool in your YouTube description.
4. Deliver the promised value in your Skool through courses, downloads, etc.
5. Charge monthly for community access or per product for specific info.
6. Up-sell your members into other services, courses, and products.

Real-World Success: Stephen Pope

Take Stephen Pope, for example. His YouTube channel @StephenGPope teaches Make.com automations in super-detailed long form video format.

He then funnels viewers to his Skool community where they can purchase courses, view course content, custom automations, and access free training.

Here’s a video by Stephen going over how he gets new users into his Skool group: 

6 Ways To Make Money on Skool.com

There are plenty of ways you can start a business on Skool, and many different revenue streams you can focus on, but in this article we’re going to go over the most common.

Mix and match two or three of these income streams for your business idea, and you’ll be on your way. 

A word of advice: don’t try and do too much at once, focus on one or two main income streams, and layer on new ones once you see some success.

1. Monthly Subscriptions

Monthly, recurring subscriptions are one of the main ways creators are leveraging Skool right now to grow their business. The whole system is designed around subscription memberships, eliminating the need to create your own infrastructure around taking recurring payments. Skool let’s you easily plugin your own Stripe account credentials and start taking payments immediately.

To support your members, create a membership designed to help beginners and newbies, and offer exclusive content, personalized advice, or a supportive network that keeps members coming back month after month.

2. Product Sales

Once you have your niche and idea, you’re going to need some products to sell. 

Skool makes it easy to gate products behind paywalls and sell your online courses and downloads.

The most common products we see sold on Skool are digital products like courses, coaching, and high-ticket services.

To make your products desirable, develop and sell digital products designed to help people solve their pain points:

• E-books
• Online courses
• Templates
• Worksheets and transcripts can enhance the learning experience.

For an example, inside Adam Enfroy’s Skool community, you’ll find courses you can purchase: 

3. Coaching and Consulting

Use Skool as a platform to offer one-on-one or group coaching sessions, where you can also provide free training materials. Your expertise is valuable – monetize it!

4. Affiliate Marketing

Promote products or services you believe in inside your group and earn a commission for each sale through your unique affiliate links.

You can also promote Skool as an affiliate. Skool has a decent affiliate program that allows you to earn 40% of all recurring sales generated through your referrals – however, you’re only credited for referring users who create communities and pay for the service, not free users.  

To get started with Skool’s affiliate program:

 1. Sign up for a Skool account on their website
2. Log into the settings area and locate the “Affiliates” section. You’ll find your affiliate link to Skool in this section.
3. Share the link on your blog, social media, or other channels
4. Track your performance through the affiliate dashboard 

5. Sponsored Content

As your community grows, brands may pay you to create content featuring their products or services. 

We don’t see this monetization method often in Skool, but it’s an option nonetheless.

If you’re attracting a large enough audience, brands targeting similar users may want to leverage your audience. That typically comes in the form of sponsored videos, affiliate partnerships, revshare agreements, or even just a quick shout out in the group.

6. The Free Skool Community to Paid Skool Community Funnel

One way Skool users are utilizing the platform is to funnel their members from a free community into a paid community.

Start by building a free community to explode user growth, and then sell your exclusive paid community to the free users via weekly calls or upsells.

Davie’s Free Ecom Course is a great example of this.

Leveraging his audience, Davie gets people into his free community, and from there attempts to ascend them into his premium community.

Davie also monetizes his free group with affiliate products.

Building Your Profitable Skool Community

To get started, we suggest joining the Skool Games, a free Skool community designed to gamify your experience starting out on the platform and to get you to proficiency quickly while making real money.

At a top level, here’s what you should be doing at minimum to grow a profitable Skool group:

1. Identify Your Niche: This is the most important step to get members and build a thriving community. What are you passionate and knowledgeable about? What are you an expert on? Find the sweet spot between your expertise and market demand.
2. Create valuable content that resonates with your audience and encourages them to purchase your premium content: Consistently deliver high-quality, actionable content that solves real problems for your audience.
3. Engage Your Community: Foster discussions, answer questions, and focus on creating a welcoming environment that keeps members active.
4. Promote Your Community: Use social media posts, collaborations, and your existing networks to grow your Skool presence and ask people to join. Depending on your social media platform of choice, you’ll be promoting Skool via videos, SEO, articles, newsletters, and more.
5. Nurture Your Community: now that you’ve got users, the hardest part is keeping them engaged. Continuous effort and content is needed to keep your members active.
6. Implement Monetization Strategies: Start with one or two methods and expand as you grow.

>> Start a free Skool account here.

Advanced Tips for Skool Success

Want to take your Skool earnings to the next level? Try these advanced strategies:

• Host Live Events: Create exclusive, paid webinars or virtual workshops.
• Offer Tiered Memberships: Provide different levels of access at various price points.
• Create a Merchandise Line: Sell branded products to your most loyal community members.
• Collaborate with Other Creators: Partner up to expand your reach and offer joint products or services.
• Offer High Ticket products: as your Skool group grows, offer high ticket products that solve acute pain points and deliver exceptional value. That could be masterminds, coaching, agency services, premium online courses, or even software or other services.

FAQs

How much can I realistically earn on Skool?

Earnings vary widely, but some creators report making five to six figures monthly. Your income potential depends on your niche, audience size, and monetization strategies.

Do I need a large following to start making money on Skool?

Not necessarily. Even a small, engaged community can be profitable if you offer high-value content and products that meet their needs. If you’re an expert in your field, it shouldn’t be hard to research your audiences needs and start building great content.

With 100 members each paying $100/month, you’ve unlocked $10,000 per month in income.

How long does it take to start earning on Skool?

While some creators see quick results, building a profitable Skool community typically takes time and consistent effort. Focus on providing value, and the monthly recurring revenue will follow, especially if you encourage user feedback. 

Conclusion – Time To Take Action and Start Making Money With Skool

Now that you’re armed with the knowledge to turn a Skool group into your personal money-making machine, it’s time to take action.

Why not start a Skool free trial: Click here to create your Skool account.

With dedication, creativity, and the strategies we’ve discussed, you’re well on your way to making real money with Skool. So what are you waiting for? Your future successful Skool community awaits!

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