If you pay close attention, there are online course tutors everywhere. And these people seem to be living the dream. People no longer need classrooms to receive formal lessons on special courses, career training and programs. Thanks to technology, your home or office can be your classroom.
With a dedicated online tutor and some dedication, you can learn more than if you attended a prestigious university. The information in courses is often kept up to date whereas what you are learning in traditional schools always at least a year behind.
Online courses are the future of formal education and teaching. By 2025, the e-learning market is estimated to be valued at $300 billion. This is still a young market that anyone can be a part of and make a lot of money.
Online courses: What are they?
An online course is just an educational or informative class that is done over the internet. They are similar to classroom lessons except that your tutor is in a different location from you.
With online courses, there could be one or more students. Everybody is separated in terms of location and can participate perfectly in class depending on the strength of their digital technology. With online courses, people are getting educated increasingly in various subject matters due to the previous constraints caused by trying to access a location.
For example, with online courses, a mechanic from Kenya (who may not be able to afford a flight ticket) can take $50 mechanical engineering courses from MIT in Massachusetts, USA.
Can I start my own online course business?
Online courses as a business are meant for people with the passion to impact knowledge on other people. Selling courses online can be used to automate your offline business or to make more money. It comes with a lot of benefits such as creating a consistent income with a flexible schedule as well as the ability to show your creativity.
There are so many niche markets for online courses.
• Computer coding and programming
• Cryptocurrency investments
• Forex trading
• Project management
• Graphic designing
• Information technology
• Data Analytics
• Affiliate marketing
• Content writing
• Marketing and sales
And many more…
How much can you make selling online courses?
People usually ask, “How much can I earn from online courses?” There are a lot of people making good money from online courses.
The most popular Course marketplaces such as Linkedin Learning, Coursera, Udemy, and so on, make millions of dollars for online tutors.
Now we’re also seeing Facebook and Amazon entering the field to compete with them.
There are also platforms where you can keep control of your courses. Some of the most popular ones in this space are Thinkific, Teachable and Kajabi. The difference here is that you will be required to market the courses on your own but you also get to choose your own prices and keep almost all of the profits.
Many people have production of content for online courses as their full-time job. As an online course creator, you can make about $66,000 annually. This means that you get to make a monthly income of $5,500.
There are people making 7 figures but I’d estimate those at roughly 10% of the creators and most of these do their own course marketing and have an audience.
At first, when you begin, you will encounter challenges.
You have to figure out
- Where to find the audience and how to get in front of them
- The type of messaging that works
This is enough to get you to 5 figures. It’s one of these things that’s simple but difficult at the same time.
A lot of the success in how much you can make selling online courses will also come down to your niche, ability to price, whether you can introduce scarcity, how hungry your audience is and value of the outcome/transformation you’re offering.