At the peak of the rise are those types of entrepreneurship that are easy to operate and manage remotely. The online education niche is at its peak. People have freed up time to consume content and, most importantly, they have formed the habit of learning online. Now what to do with all this?
Prospects for making money in the online learning industry
In the wake of the popularity of online education, speakers and schools that bring up a generation of speakers and project managers who pursue the illusory millions that can be earned in the education market have entered the scene. After watching inspiring videos, every third person is fired up with the idea of opening their own school. But, taking the first step in this direction, he is faced with obstacles.
The fact is that there are indeed projects on the market that are monetized by millions of dollars. But these are the market leaders who entered the niche 3-4 years ago, and their result is the authority gained by time and experience. What earnings are waiting for a beginner?
If you are going to start on your own and set up all the processes, from product creation to promotion and monetization on your own, then during the first 3 months you will earn at the level of 1-3 thousand dollars. This is provided that you have a really good product with a pronounced target audience and you give a solution to the problem to your client.
To break through the ceiling on earnings in this mode, and you will have to work 12 hours a day, and not everyone can stand it, you will have to hire a team. A minimum functioning school must have at least 5 contractors on staff, and all must pay a fee. At the same time, there will be as much operational work.
On high turnover at the level of tens of thousands of dollars. you can say when you have already assembled a staff of competent employees, there is a clear division of tasks and areas of responsibility. In this structure, you are already taking the place of an expert and investing your time purely in the learning process.
How to choose a niche to launch your project?
In the structure of strong educational projects, there is not only an expert, but also a project manager, who ensures coordination of all operational processes, as well as a producer who promotes the project and the expert's personal brand. It’s good to start with an existing base of loyal subscribers, otherwise marketing expenses will exceed your expectations.
Method 1 Based on personal expertise
The universal algorithm for finding a cool niche is to find a “pain” or problem in a clearly expressed and numerous (wide) target group, to create a product that covers this pain and gives a potential client tangible value. Often we find such ideas for courses in everyday life and in the professional field.
After you “found” an inspirational idea, think about how it can be packaged and in what form it is most convenient for the audience to consume. Try to make a test run, conduct a few live broadcasts or free webinars to finally determine whether this product is valuable to people, whether they will buy it.
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2
Abstract topics to create a lot of online schools. The most popular at this stage are any courses that help a beginner learn a profession from scratch or improve their qualifications. Products that provide an answer to the trivial question "How?" Will always be in demand. Exclusive knowledge in any niche will be highly appreciated.
Courses for women are well monetized, which are aimed at self-development, pumping personal qualities and life coaching. But they, just like language courses, are in a highly competitive segment. Quite a lot of popular projects can be launched in the field of finance, beauty, health and hobbies.
Method 3 Find an expert and produce it
If you are not ready to take on the routine of creating and correctly packaging the course, but you have knowledge in marketing and advertising, then your option to enter the online education niche is to become a person promoting an expert and a project. Talented producers receive a salary for the time invested and take a percentage of the project's profit. This is an interesting thought that can inspire many to seek opportunities.
We can definitely say that there is really money in online education. Moreover, during the quarantine period, many people have appeared who are simply used to consuming information from online courses. All you need to do in response to the emerging market demand is to make a quality offer.