In just one year, many business owners offered me opportunities to start preparing and delivering content on their new emerging e-learning platforms. Also, many things have happened while offering these open slots, which made me eager to summarize my experiences. So, if you are an enthusiastic entrepreneur planning your unique eLearning business model, this post might be what you need to read. The e-learning businesses are growing and booming, and it’s definitely a field worth exploring (check out this related and high-quality content). So, without keeping you waiting, let’s take a moment and understand more about the nature of this business and what you do NOT need to do when planning it.
Alright, here you go.
The eLearning Business Model – What To Do
As I was telling you, the e-learning industry is growing. You can explore many ways as an entrepreneur to help start and grow a successful one yourself. However, I believe you must ensure a few things as a business owner in this specific industry. Some of these are the following:
1. Choose the very best course instructors out there and have a clear process
To make your eLearning platform stand out among others, you need to bring the best professionals out there for each category you teach. Look for charismatic professionals with solid resumes who can attract your target audience. It would be best if you headhunted, similar to what these platforms started to do with me. You need professionals with technical and interpersonal expertise to help your eLearning platform reach more people and learners daily. Check profiles on Upwork and Fiverr, too. You will find a great pool to choose from.
Once you do that, please have a straightforward process for these professionals to create and produce the course content you need. I know this sounds very basic, but trust me when I tell you, that I felt lost in process and constructiveness when different platforms contacted me.
2. Offer plenty of subscription plans for your target audience
To attract a wider audience, provide them with different membership and payment options that suit them. Monthly and yearly plans are great, and they will love it even more when given free trials and promo codes.
3. Provide course topics that are not easily accessible
Do you know why they were so eager to follow up with me? Because I offered a course on social entrepreneurship that was not on their platform. Also, the content was very different than anything else they had. You need to differentiate your eLearning business with topics and ideas that are very specific and owned by you. And you only! Don’t go thinking that this is hard. Yes, of course, there are no “new” topics. But there definitely are diverse areas that can be explored and added to your course list.
The eLearning Business Model – What Not To Do
And now, I tell you what not to do. Here, I will list the points from my own view as a potential instructor who was headhunted by different eLearning platforms. Please, please don’t:
1. Give Your Instructors A Hard Time
Even though I received comments that I am a great presenter, the course I produced received millions of comments and many e-mails going back and forth to share agreeable content. They gave me presentations and orientations, but come on, guys, this is a self-produced course! I cannot check all your boxes with only some orientation material from your side as an eLearning business.
If you want consistent and high-quality content, offer software and tools to help your instructors produce the course. Remember that you supposedly brought the best people for the job; they will not have time to waste, so be very mindful of that.
After I produced one of the courses I was so much in love with, I never got to publish it or sell it on the platform. This was simply because they wanted me to go through a troublesome process of creating a profile and uploading the content myself. So, I dropped the whole matter at the end.
2. Offer A Payment Plan That Only You Can Understand
Usually, the people you recruit to produce courses for you are doing this to earn more money and spread their knowledge. You need to ensure they are well-compensated and can receive their money smoothly. I remember one platform calling me and explaining that I would receive my money when their system (that works through an algorithm they never explained) calculated the amount I am entitled to. Why would I ever continue working with them? I need to understand your payment process easily and receive my payments smoothly. What’s difficult about that?
3. Run Things According To Your Time Only
I might have mentioned this already between the lines. But I keep stressing the importance of making the process smooth and time-efficient for the top professionals you recruited for your eLearning business. From the first encounter with them until receiving your high-quality content, ensure you have a responsive and quick team to handle things efficiently.
Summarizing Ideas – The eLearning Business Model
These are the main need-to-knows I found most triggering about the eLearning business when I got the chance to interact with it a lot personally. I hope these gave you some idea of what to consider when planning your own business model in the same industry. Speaking of which, many downloadable pitch decks and business plan templates are available on Albusi’s website. These will give you an idea to write your elevator pitch, problem statement, the solutions that you are proposing, financial projections, and investment asks for your eLearning business.
In addition, the Albusi team can craft a one-of-a-kind pitch deck just for you! This is another exceptional service to entrepreneurs that you should check out. The linked page will tell you more about what our previous clients say about this service. So, do not hesitate to ask if you want a pitch deck designed or written by Albusi.
And, of course, if you’re out of time and want a consultant to help you get this right, you can always contact one of our freelancers. They will help you with everything you need for your eLearning business and help you pitch it to others.
I highly recommend that.
Meet The Author Of This Article
I’m Jenny Ayman, a project manager in the development field with specific knowledge and experience in capacity building and entrepreneurship programs. I aspire to transfer the hands-on experience I gain in my professional career through writing.
Also, if you need help planning your business, I recommend checking out some of our freelancer’s business plans or pitch decks!