The market for online courses is big and profitable and it’s growing fast with the ever increasing demands of the knowledge driven economy. The global interest in lifelong learning and the development of professional skills has pushed the knowledge economy one step further.
According to a 2020 research report on global E-learning Market is expected to reach $374.3 Billion by 2026. The global E-learning Market is expected to grow at a compound annual growth rate (CAGR) of 14.6% from 2019 to 2026 and no wonder why. Its expansion has its roots in the benefits that e-learning offers ranging from more flexibility in the process of learning, lower costs, easy accessibility and increased effectiveness by animated learning.
This flourishing ‘movement’ provides an opportunity to upcoming entrepreneurs to get paid by sharing their knowledge. An ‘edupreneur’, which is the new term for the educational entrepreneur, is someone who plans, opens and successfully operates an educational service. The role of today’s edupreneur is to educate the public, whilst teaching on a specific subject or helping them to develop a specific skill.
Why create a course?
Creating a course and setting up an online school is much more rewarding than starting a business – needless to say, much easier too. As many established edupreneurs say, online courses are flexible, fun and profitable and offer the best business model.
Becoming an edupreneur is great because you don’t need any credentials or certifications to create a course. All you need is some experience, passion and knowledge in the subject you teach. However, you would need to come up with a purpose for the creation of your course to make sure that you will provide value to the rest of the world. This way, you get to sell what you teach whilst at the same time working on what you enjoy the most – your passion project!
Not sure if creating courses is for you? Let’s take a look at all the benefits in more detail…
1Make an impact by reaching a wider audience
When working online, you have greater chances of expansion and increasing your audience. Like any other type of business, you need the online means to create and launch your project, to develop your idea, and share it with others just as easily. Growth mentors around the world recommend maximizing technology to build influence and communities. Online visibility works as an advantage because it allows you to promote and sell your courses to the rest of the world.
2Earn a passive income
An online instructor has the potential to create a course and sell it over and over again. If you choose to become one, you can expect to get paid for your knowledge and create a source of passive income. Once you become a course instructor, you start earning money while on the autopilot. So regardless what you do, be it gardening, traveling or sleeping, you keep earning and attracting students who are potentially interested in your course.
In an era where learning is becoming more accessible, you are given the opportunity to create something from zero and build an online school completely from scratch. A lightweight learning management system (LMS), such as LearnWorlds, provides all the marketing, sales & elearning tools to easily manage and customize the appearance and the content of your site. Literarily own your landing page and crush your sales goals. As such you can enhance the learning experience, add/remove and update existing material aligning it with the needs of your students just in a few clicks.
Our digitally-driven world provides the possibility to work from anywhere as long as you have a laptop and an internet connection. This means that you are not bound to a specific location and you can set up your online academy at any part of the world, and still get to promote and sell your courses to an international market and reach people from other countries.
5No material, extra costs or paperwork involved
With an online business you are clutter-free (no paperwork involved), no manufacturing, delivery, or shipping costs. Any aspect of school management is carried out online, whether this has to do with administration, content creation, site design and customization, advertising and promoting. However, you have the option to come up with your own printed promotional material, whether this is a business card, promotion flyers or anything else that works alongside your business goals. Use an online flyer maker tool to do this in a cost-effective way.
6Flexibility of time
When you become an edupreneur, you get to enjoy more free time. Since this is a ‘job’ outside of the normal 9 to 5 routine, you are free to do whatever you want, and set up your own work schedule. Once your content is out, your audience can consume it even without you there. You can even outsource call center services so they can attend to issues that come up, on your behalf. As such, you can choose to work only a few hours a day, days of the week or during the weekends. This gives you plenty of time, to work on whatever you have going on including your hobbies or even a part-time job that can help you sustain yourself financially on your first steps.
7Start out free
Creating a course and ultimately your online school is a much safer choice than starting a business. Before you go ‘all-in’ and choose a platform to host your online academy, you get to try out the service that’s on offer. If you are unsure about taking the next step, you can get your free 30-day trial, no strings attached, and experiment with the tools you have available.
Ready to give it a go?
‘Thinking’ is different to ‘taking action’ and while a theoretical concept takes time to become a reality, once you make a start, you can be certain that you will get help along the way. All that it takes is to plan out your course set-up is the following:
Read our ultimate guide on creating your first course, going over the most crucial steps you need to take to make all of this possible.
So, why invest in courses instead of anything else?
Apart from the growing demand in eLearning, online courses are easy to create and update, and often they are more valuable than any other learning material. In fact as upcoming trends show, online courses may be the most important source of education for the years to come! If that would happen, you wouldn’t want to be the only one who’s left out…
Are you ready to embrace the future of entrepreneurship?
Online education is thriving and LearnWorlds is the ideal all-in-one solution you need to scale your business and make an impact by offering unparalleled high-quality learning experiences. Claim your 30 days free trial today and join tens of thousands of entrepreneurs, like you, who built life-changing businesses with LearnWorlds.
Further reading you might find interesting:
Kyriaki is a Content Creator for the LearnWorlds team writing about marketing and e-learning, helping course creators on their journey to create, market, and sell their online courses. Equipped with a degree in Career Guidance, she has a strong background in education management and career success. In her free time, she gets crafty and musical.