The world of learning has changed...
Many businesses around the world have been hit hard by the impact of the pandemic. It has been heart-breaking to see years of hard work coming to an abrupt halt. We’ve been left with little choice but to pivot our thinking. Activities that we assumed had to be done face-to-face moved to the online world. And online learning has become the norm. The online learning market is currently worth well over 200 billion and likely to exceed 350 billion within the next 5 years. Our mindset about learning online has shifted. We are now far more comfortable doing yoga classes, personal training, cooking, business mentoring, for instance over mediums like zoom. Not surprisingly, we would all like a share of that market but will an online course work for you?
Let's start with the good news...
People want to improve themselves. If you have something to share that can help people feel better or achieve more of what they want, then you have a potentially lucrative offer. And it is good news for your business too. Creating greater accessibility to your knowledge can attract more people from locations around the world. Therefore, if you have been running a billable hour business, creating an online training shifts you from a ‘1:1’ to a ‘1 to many model’. Having that scalable revenue stream can be a game changer for your business. It’s why, at least on paper, it is such an appealing proposition.
A note of caution...
Creating a successful online course is a long-term investment that may not pay dividends for months, or even years to come. Too often, we find the “build it and they will come” mentality. That there’s some kind of magic at play that will see people beating a path to your online course because you’ve shared a post on Facebook or a message to your network. Yes, with the right offer at the right price, that can happen. But if you see creating an online course as anything but a long game, you are likely to fail. An online course is an investment over time that requires proper promotion, engagement and retention strategies.
And of course, the market has been absolutely flooded with courses since lockdown began. Pulling together some content into a framework isn’t enough. You need to know how you can stand out and differentiate yourself. If you know what sets your course apart, if you are addressing a real need and if you can show people how to achieve the change or results that they want, you have the makings of a successful online course.
Questions to consider...
So will an online course work for you? We have developed a list of starter questions to help our clients know whether they are ready to create and launch an online course:
If you have clarity on these questions, you are probably well placed to start creating your online course. But that isn’t to say you can’t create a program when you don’t yet have an audience. As long as you are aware that it is a longer game plan, there is nothing to stop you from starting small and building a hub for your business. In fact, building a community from the outset and allowing their input to shape the courses you create can be a very successful strategy.
Want to know more?
Are you thinking about developing an online course and asking “will an online course work for me?”
Do you want to explore your options in greater depth?
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