Why it's the best time for you to launch your eLearning business
Covid-19 surprised us by transforming the way we learn. Schools closed, classes moved to Google Meet and citizens wondered when the long-awaited normality would arrive.
In the meantime, we discovered, through new technologies, tools with which to communicate with our loved ones. The Internet allowed us to make video calls to be closer to those from whom we were furthest away.
We can highlight 3 concepts of e-learning:
- It is accessible: we can learn from anywhere and whenever we want.
- It is flexible: you can design your own learning plan, tailored to your needs.
- It is rich and innovative: the universality of the internet allows you to train with teachers from anywhere in the world.
The closure of the classrooms has changed the way we look at our business. We have discovered that we can reach students who live in other locations, in other provinces, even in other countries. When normality returns, virtual will play an important role in the way we teach, train and learn. In fact, by 2026, the online learning market is expected to grow by 270%. Yes, you read that right!
So, if you were waiting for a sign to start your online learning business, now is the time. The eLearning industry is booming and you can't be left behind.
In this post you will understand:
- Why now is the best time to launch your eLearning business?
- What is eLearning and is it the right niche for your content?
- 2 types of eLearning for your business
- How (and where) to start your eLearning business
Why now is the best time to launch your eLearning business?
We never stop learning new things. We need it to improve our skills in our work; to enjoy our passions and, hopefully, make the world a better place.
These are the kinds of things that will never change! That's why eLearning is here to stay.
Consumers are changing too. Research shows that consumers are looking for 3 things when they browse: inspiration, training and ideas - all of which can be easily acquired through eLearning!
This change of model will continue after covid-19 for two reasons:
- Because it is accessible and customisable for the learner: the concept of learning from anywhere gives learners the flexibility to learn where they feel most comfortable. In addition, they can personalise their online learning; for example, the ability to record or replay a topic allows them to learn at their own pace.
- Because it's cost-effective for the trainer: offering eLearning content means you can develop a topic and share it continuously. And, if you have a physical business, you can increase your reach beyond your local area.
And the results are even better if you decide to create your content in video format.
Because video is the format in which people want to learn now and it will help you generate the most revenue.
In this post, we'll look at whether eLearning is the right choice for you and your content, and how you can get started.
Let's get down to business...
What is eLearning and what is the right niche for its content?
eLearning (or online learning) is a form of learning that takes place online using electronic resources.
In other words... This happens whenever someone turns to the online world to learn new skills. It can be anything from an e-book on art history to an online guitar course.
- Dog training: how to teach your dog to sit.
- Dance tutorials: how to do TikTok dances.
- Make-up tutorials: how to use mascara.
- Language lessons: how to speak French like a native.
If you are not sure whether the content you want to create is eLearning or not, all you need to do is to think about whether your content is intended to teach or train. If the answer is yes, then 9 times out of 10 it is probably eLearning.
Does this sound like what you want to do? Keep reading the post!
2 types of eLearning for your business:
Let's look at the 2 types of online learning that you can use to launch your new business.
The first type is synchronous learning, which refers to a trainer and a learner interacting virtually in a specific place at a specific time.
This type of learning relies heavily on video calls and can look like a Google Meet university classroom, an online music lesson or a private English teacher.
- Advantages: Students can participate in real time. Improvements in bandwidth and technology have made this type of training very popular with educational institutions that needed to move quickly online.
- Disadvantages: The time constraints of a fully live learning environment can create problems, especially when combined with technology - not to mention the fact that teaching in this way takes a lot of time and energy!
Asynchronous learning refers to learning that generally does not occur in real time. For both the learner and the trainer, this type of learning is the most flexible. A language learning application such as Duolingo is an example of this.
- Advantages: students can learn at their own pace, while teachers can create content at their own pace as well.
- Disadvantages: there is an increased risk of apathy or drop-out if you fail to engage learners with extra content to excite and motivate them (i.e. online sessions, live streaming Q&A)
With these 2 different ways to start an eLearning business, you might be wondering which is the right choice. Well, I'm going to tell you something but just between you and me .... You can use both formulas.
As an eLearning business owner, you have a unique opportunity to leverage the power of both models to generate recurring income.
Let me show you how...
How to start your eLearning business
First of all... I recommend you to use video as your main content. As you saw before, it is the most accessible and cost-effective way to run your business. It also gives you the best opportunity to leverage synchronous and asynchronous learning styles to create the best educational video business.
An ideal video business has these 2 components:
- A video on demand website with educational or instructional content (asynchronous learning).
- Live Streaming and webinars to increase engagement and create a premium experience (synchronous learning). By incorporating Live Streaming into your video on demand business, you have the perfect recipe for eLearning business success.
The explanation is very simple...
A video on demand website gives users immediate and constant access to video content, something they expect right now. Video on demand can become an excellent secondary source of income: there is no limit to the amount of revenue you can earn!
Making it real
Here's a quick summary of what we've learned today:
- The eLearning market is growing!
- eLearning content is content that aims to educate or train.
- A combination of video on demand and Live Streaming is the ideal formula to build a profitable video business.
- How to start your eLearning business with a video on demand website.
I hope this post has given you an idea of the possibilities of the video eLearning world, both in its synchronous and asynchronous version.
After these tips, you are now ready to launch your own video eLearning business. Don't think twice, it's time to reach out to customers in other places and transform your business model.
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