Passive Income – Money-Making Online Course
Create Your Money-Making Online Course and have the easiest passive and profitable income you ever imagined. Online courses are the most profitable online business you can run.
Did you know that according to Forbes, the money made from online courses had hit $57 billion in 2014. The growth has been exponential. The Linker report confirms that 2016 hit the $200 million in 2016 – where are we going in 2017?
Would you like to learn magic? Converting your knowledge into an online course is a new way of “productizing” your services. Online courses, are today a huge part of online business.
As we speak, thousands of authors are turning their books into courses. Speakers are turning their speeches into courses. Chefs are turning their skills into courses! And they have the world as their first class audience!
Tips on How To Create Your Money-Making Online Course
In case you are wondering whether as an individual, a university student, or just an aficionado, you can create your own money-making online course, the answer is a most definite YES!
However, you cannot just slap whatever you have in mind, push it online, and watch the cash pouring in. You will need to engage in some strategy and effort. These are your only pre-requisites. Today online courses are an excellent revenue engine. They are also a great ends to a mean, and become generators for powerful leads to your sites and affiliate marketing!
For example take the case of Lili Balfour. Lili is a financial advisor for startups. She has used Udemy as a channel for her courses. You may be thinking that you are certainly not in the league of Lili Balfour. However, you should also know that the biggest percentage of instructors on Udemy, are your average Joe Next Door.
Back to Lili Balfour – we can use her as a model for structure. Her courses range from as little as 30 minutes, and other run for 2/3 hours. The courses sell for anything between $47-$197. By her own words, Lili uses Udemy as “The goal to help entrepreneurs understand finance in a fun way”.
How Much Will I Make on a Money-Making Online Course?
Average instructors net some $7k-$10k per course on Udemy. However, this is dependent on many outcomes. Elite instructors, who are smart enough to have a network of followers both on Udemy and their personal social media, generate definite six figures per annum from every one of their courses. Not shabby at all!
How Much Time Do I need to Create a Money-Making Online Course?
This is probably one biggest engagement and commitment level to your then to become passive income. Yes, creating a serious money-making online course will involve a serious time investment. Creating your course, can take you as long as writing a book. This is the case with your first online course. If you are still picking material, it may take you some time. Hence, having a clear strategy is extremely useful.
If on the other hand you have already prepared a lot of content, and you have data from your own blog and workshops, you are looking at much less in terms of time involvement. You could probably sit down in a long weekend and create a professional course ranging over 2-3 hours.
Where to Start? Do I Need Special Technical Skills?
The great thing about Udemy Courses, is that the team have prepared very professional in-house training. Most instructors, including Balfour herself, do all the filming and editing at home.
Your basic requirements are a camera and a microphone in most cases. Balfour herself, went one step simpler. She found a noise-free environment and just recorded her screen using Camtasia. Camtasia is a very user-friendly platform, which allows you to record your screen, yourself in vision if you wish, and has an inbuilt sound system. Moreover, with Camtasia you can also do all your video-editing and also import, other videos and screen shots and add them to your work. The Camtasia platform itself gives you a visualized tutorial on how to get the best benefits of the software.
This is probably the easiest, cheapest and safest bet to start your money-making online course. On the other hand if you are looking at making a “talking head” video kind of style, you may need a sound-proof room, a professional camera and a microphone. It is a more complex kind of approach. You may want to think of hiring a professional studio in order to achieve the best results.
Professional online course provider Lily Balfour does not think it is necessary. Her money-making online course (s) are all screencasts – which means that they are just videos of her computer screen – effectively produced with the Camtasia software.
Here are 7 Tips on How to Create Your Money-Making Online Course!
#1: Oh No! Someone else has already created My Money-Making online course!
There is no cause for panic. Actually this is GREAT NEWS.
The fact that someone else has already produced the online course that you have in mind, means that there is a DEMAND for whatever it is your approach is on the subject.
Can you imagine? You create a course that has NEVER been published. Do you have an idea what that means? It means that no one is interested in buying it.
Do not be bewildered. It is the honest truth.
So, given that the Internet is SO HUGE – if your idea is worth publishing, then it means that there is going to be someone who is willing to pay for it.
Trust me competition is healthy. It is definite GOOD NEWS
#2: I want to create a great looking first online course.
The chances are that it will not happen. Your first course will look O.K. but it will not be a super-professional design.
Here is why!
You are probably looking at many other people who have created professional content (look at my “Secret Trader”) and you think WOW – what a design – I want that!
The truth is that in the beginning, you have no real experience. You will gain this with your second and third course.
However, you will find that even unprofessional and home videos and on-line courses, go on to generate six figure revenues. Why? Because CONTENT IS KING!
What you need to get going is software that you can navigate with such as Camtasia – or just a white board and camera.
#3: I want to make money online but I am struggling with ideas!
Here is one idea that will help you. Ask yourself a simple question. Why do people buy courses on the Internet? Very simple. It is because they are looking for a solution to a problem. An online courses are a solution.
For example, someone who is struggling to set up their first YouTube Channel, may need simple and straight forward instructions.
Rob Percival on Udemy has sold nothing short of 2400 of his “Complete Diginal Marketing Course 2017” yes in just under 40 days!
Still struggling to find your genius for YOUR money-making online course?
Look for a problem. And solve it in your online course.
I know that this looks too good to be true. But actually it is as simple as that.
Problems are what create audience. You can go even more immediate. Listen to friends, family, colleagues and hear what problems they are encountering! Your answers may be laying at your doorstep.
#4: I am not an Expert! How can I Create a Credible Online Course?
First of all, never underestimate yourself! If you know 10% more than your peers about any subject, you can go on to teach them just that!
Moreover, here is another word of advice and it comes in a very simple form.
Yes, take a course on anything that interest YOU! Document your learning process. In turn, you can translate your learning process and teach it to someone else.
The key to a successful and money-making online course is KEEP IT SIMPLE!
#5: Why would anyone pay for my course – if they can find the information for FREE on the NET?
This is a common dilemma that first-time online course designers face. Again the answer is simple.
The Net is full of information. Some of it is LEGIT – and most of it is SCAM!
A lot of information is contradictory and misleading. Sifting the legit from the scam is a tiresome job.
Moreover, the information is scattered. Collating information together and putting some order into it takes structure and hard work.
Most people do not have the time or the patience to go through the process above. Figuring it out
What they do is find someone like YOU. If you put together decent material, which is valuable to the person seeking answers, and at a fair price, you are in the loop. Congratulations.
#6: Keep it Simple!
Yes. Do not run away with the idea that you need to create a super heavy, in-depth online course, that comprises EVERYTHING
…. THAT WOULD BE A MISTAKE.
This is especially so if you are just getting started. Did you know that on average no-one starts and finishes a course from beginning to end? The attention span of an average person, even those very interested in the subject is extremely limited!
My advice would be, start off a short brief mini-course. Build your mailing list. That is your target audience. Charge very little. In the meantime, start preparing your follow-up course. You already have a data base.
#7: Explore How to Start Your Money-Making Online Course.
So now you are convinced that yes YOU can make money by creating your own online course.
This is the time to learn all you need to know. How to create, how to sell your very own online course.
I suggest you hit on the link below, and find out, that you could be one of the instructors on Udemy in no time at all.
Udemy will provide you with the resources you need to create and sell your money-making online course.
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You may also want to know How To Make Money with Affiliate Marketing!