Whether it’s the modern quest for self-knowledge or simply a desire to make some money, the internet has proven to be resourceful. The fact that you can now learn anything and everything online has resulted in the emergence of a whole new industry, which has evolved over the years to be worth a whopping $255 billion.
With the rise of online education companies like Udemy, Skillshare, Lynda, and even Best Essay Services Radar, it seems like a better time than ever to start teaching other people online. If you have the knowledge, skills, and dedication to educate others about your field, you don’t need a teaching position at a traditional school. The internet is your classroom.
The question is, how do you do so successfully? To get you started, this guide discusses the best ways to start an eLearning business in 2021.
Why Should You Start An Online Education Business?
You may be a full-time student who has worked for years to get your degree or a full-fledge professional with years of experience under your belt. So, why would you want to work for someone else for an entire salary when you can set up your own successful online business? With an eLearning business, you are entitled to the following benefits.
High Demand for eLearning from a Wider Audience
You love teaching and you’re good at it. But not enough people know that. Why? Many of us have a bias toward traditional learning. After all, it’s how we learned in school, and for many of us, that’s all we know.
But the truth is, traditional learning isn’t for everyone. For many people, the concept of a one-size-fits-all learning model is a farce. It’s true for adults as well as children. As such, you might be surprised at the number of people who are willing to pick up a skill or two online.
Teaching on the internet means reaching a far wider group of people. You have the power to teach to anyone. If you know how to teach well, you can teach practically anything.
The eLearning Business is Highly Profitable
Since the demand for eLearning is overwhelming, this business is highly profitable. Recently, I was privy to interview Ronald W. McEachern, the proprietor of Eachern Design Inc., an eLearning company that specializes in online training on UI/UX designs and other related professions. Among the conversations we had, he had this to say about his online business growth over the years.
Ronald, tell us about your eLearning company, Eachern Design.
Eachern Design Inc. offers online training, specifically on UI/UX designs. It started from a small eLearning site to an international educational service company with several multi-language courses offered.
What can you say about your company’s financial growth since its inception?
So far, we’ve witnessed increased scalability based on the high demand for our online courses. When we started in 2015, our total revenue was $20,000. In 2017, it clocked $85,000, and in 2019, we grossed over $175,000. Currently, we record $80,000 to $120,000 monthly.
Based on my interview with Ronald, if you’re able to make even a few hundred dollars daily offering eLearning services, you have a good chance of generating a comfortable, six-figure income.
Steps to Creating an eLearning Business
Many of you have expressed interest in a guide that outlines the steps to creating your own learning company, but with this business, it seems like there is always a lot more to learn. One of the things I hear all the time is “I want to create my own training business.”
So, I’m going to spend some time going through some of the things I’ve learnt and how they can help you.
Decide What to Teach
One of the big mistakes people make when they start their eLearning business is assuming they’ll be able to teach anything and everything. It may appear straightforward at first, but I can tell you from experience that it is not always easy. It’s difficult to teach an online course when you don’t really know your niche!
Ideally, you should narrow your expertise to something specific — a profession that you’ve mastered efficiently. Your preferred online courses may include graphic and web design, email marketing, data science, video editing, computer science and programming, internet marketing, cloud computing, business intelligence, music production, and foreign language like Preply.
Get Necessary Qualifications
Not all courses require professional qualifications, especially those centred on informal professions. For example, you don’t need certification to create and publish an eBook, learn dropshipping, or use social media marketing. These topics comprise guidelines an expert can pass on to a learner.
A certification, on the other hand, will be useful if your courses focus on formal education. Your qualification will depend on the preferred training courses you intend to provide, alongside the chosen eLearning platform.
Choose a Teaching Distribution Mode
While the best learning experience stems from an interactive teaching mode, not every learner is as patient as you are. Some prefer to read, some watch, and some do both. It’s essential to know which learning style your target audience prefers.
If you discover that some of them are reluctant to interact with technology, you can document your courses. Fortunately, there’s a wide range of distribution channels, like YouTube, Skype, Vimeo, paid eLearning platforms, and PDFs.
Find Your Audience
It is pointless to start your learning business if you don’t know who you’ll be training. Understand that you are selling your courses to people who need them. Hence, you should conduct market research to determine where your clients are located. Marketing campaigns can help you locate these individuals by demographic.
An online course is the easiest way for you to start an education business. It can be a fun experience. Plus, it provides a platform for you to broaden your expertise while earning a passive income. It does, however, need thorough research for your business to be successful.
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