If you possess the expertise and a passion to share knowledge, building a successful online teaching business may be for you.
If this sounds like you, you’ve probably thought about sharing your knowledge and skills on a broader scale. The possibility of building a profitable business from it has crossed your mind. You have everything you need to create a successful online teaching business and are ready to bring it all to life.
Trust us when we say that you’re not alone. At Yondo, we work with inspired online educators who are ready to take the next step with their online business. There are many people with the knowledge, talent, and skills to teach others, but sadly, let the opportunity pass them by because they are not sure how to get started. No matter what your niche or area of expertise, there are hundreds – if not thousands – of people out there who are looking for an opportunity to learn from you.
Why You Should Start an Online Teaching Business
Online learning is a rapidly growing industry. It’s estimated that by 2025, the worldwide eLearning market will be worth $325 billion. The Internet has changed the way we do so many things, with learning being one of them. The Internet is often the first place any of us turn to when we want to learn more about something, and it’s also where we connect with the individuals who can teach us.
Today’s learner has more options when it comes to what they learn and who they learn it from. By setting up an eLearning business, you’re able to reach a wider audience of people who are primed and ready to learn from you. When you build an online teaching business, you can reach far beyond your local community. Expanding your audience base will greatly enhance the profitability of your skillset.
10 Steps to Jumpstarting Your Online Teaching Business
You have everything you need to get started with an online teaching business, except a game plan to turn your dream into a reality. Here are the 10 steps you’ll need to follow if you want to transform your vision into reality.
STEP 1: Define Your Area of Expertise
Defining your area of expertise is the common sense first step to starting an online teaching business. However, there’s much more to it than just having a general idea of what type of knowledge or skills you want to share with your students.
Unless what you want to teach is so unique that you have no other competition in the eLearning landscape, narrowing your niche will be critical to your success. What specifically do you plan to teach online? How can you tailor your program to provide something that learners can’t acquire from other online programs on similar subjects? The goal is to be very clear on your subject matter, as well as, your plan for a unique delivery. Yondo can help you include Live tutoring sessions into your online service offerings.
STEP 2: Be Clear On Your Target Audience
Knowing your target learning market is essential for a few reasons. It’s important for marketing purposes, which we’ll get to in a few minutes. It’s also important to recognize your core learning market so that you can better develop a learning program that fits their needs and learning style.
Are you looking to teach an audience that leans toward novice-level knowledge? Are you seeking to help others enhance, refine, or polish an existing skillset to help them reach a level of mastery? Where is your audience and what is the best way to reach therm? What are the various methods of teaching that will work best for them? Answering these questions will help clarify the target audience for your services.
STEP 3: Structure Your Online Teaching Business
The next step is to structure your online teaching business. Structuring your business includes deciding on important detail like the type of learning options to offer. Some of the options could include:
- Live streaming video sessions.
- Group classes with a webinar function.
- Online access to learning materials including eBooks or podcasts.
- Live 1:1 tutoring sessions.
Structuring your online teaching business early in the planning stages will elevate the stress of trying to incorporate features later in the process. Once you have decided on the learning options, it will help you narrow the search in technological solutions to build your business.
STEP 4: Plan and Write
You have your niche, your audience, and the general structure of your eLearning business planned out. Now it’s time to create the learning material you’re going to teach.
This is the point when you want to start planning your lessons and writing scripts for them. Whether you’re planning on live webinars or recorded sessions, you’ll want to get in front of the camera and develop a familiarity with it. If students sense nervousness, they may become focused on that rather than the lesson in front of them. Carefully planning, writing, and testing your scripts will make your online teaching business more productive. It may take time and practice to perfect the content but the end result will be worth it.
STEP 5: Ask for Feedback and Professional Critique
It’s a good idea to test the market for your content before doing a full launch of your business. The next step in jumpstarting your eLearning adventure is getting some honest feedback. Finding a test group or mentors with experience in online teaching can help verify the relevance of your content and business plan. Be open to feedback and professional critique to perfect your idea before launching it to the masses.
STEP 6: Pick Your Recording Location
Where are you planning to record the video and webinars for your online learning business? With few exceptions, students will want to see some consistency in your surroundings. There are a couple of reasons for this. First, a dedicated space to run your online learning business can send a message of professionalism and stability. Secondly, you want the students to be focused on the material you’re teaching and not the change of location.
Unless there’s a specific reason, the surroundings you use to teach your online class don’t have to be elaborate. A simple space with the tools needed to reach your audience is all that is required.
STEP 7: Choose the Right Tools
The next question is, how are you going to reach your learning audience? You need a platform to sell your online learning course or individual classes. It won’t take long to discover that your options are more plentiful than you might have initially anticipated. Choosing the best option for your business can be a vital decision.
The needs of every online learning business are different. Each business will have a different model, audience, and overall size of the operation. The advice that does hold is that all-in-one solutions are often preferred, especially for those just starting in the eLearning industry.
An all-in-one solution for offering live learning sessions, webinars, and online videos that also helps you navigate marketing, metrics, and managing email is often the best option for your business. With an all-in-one solution, you can focus on creating content and sharing your expertise without focusing on managing multiple software applications.
STEP 8: Determine Your Worth
Pricing your content and services can be a difficult part of the process. It’s also one that should be evaluated regularly.
Spend time researching the current market rates for the skills or knowledge you’re offering. The audience that you’re hoping to reach will also have a significant impact on the price you set. Online learning programs that target professionals who are looking to refine their skillsets tend to command a higher rate than novice or beginner level programs.
It’s also important to avoid the all-too-common mistake of undervaluing your services. If you’re new to the industry, you might think charging less will make your online teaching business a more attractive option to compensate for the lack of experience and reviews. However, if your prices are too low, it can backfire with learners thinking there’s a reason your services aren’t worth as much as others. It’s best to do your research and price your online learning classes accordingly.
STEP 9: The Wonderful World of Marketing
Marketing. You can’t reach the audience you need without it. Today, marketing is all about reaching prospective learners online, which also happens to be where you’ll be engaging with them during your learning sessions.
Unless you are a master of marketing, you may need a little help in this area. You can start by talking to some marketing agencies to get an idea of what’s involved and how much it will cost. You may also want to consider using a video learning solution with built-in marketing features to help get you started.
STEP 10: Prepare for the Future
The final step is to develop a long-term plan for your online business. For an online teaching business to thrive, you need to have a vision for the future.
When planning your eLearning business, create a growth plan to not only help you set goals but to increase customer retention. For example, if you begin with teaching novice classes, plan to expand that curriculum to more advanced options. You can also incorporate learning packages or online video courses. When developing your business plan, go further and develop a plan for the future. This will not only fuel your motivation but also enable you to provide future options to your learners.
Discover the Best All-in-One Video Solution to Jumpstart Your Online Teaching Business
When you’ve finally committed to starting your online learning business, it can all seem overwhelming. Let us take some of the pressure off with an all-in-one solution that streamlines the process of starting your online teaching business. Yondo has the eLearning solutions you need. With Live Online 1-to-1 Sessions, Videos Courses, and Live Streamed Group Classes, you have all of the tools at your disposal to create an amazing online teaching business.