How to choose a niche for creating your course or online school?
At the peak of the rise were those types of entrepreneurship that are easy to operate and manage remotely. At the peak of growth was the niche of online education. People have freed up time to consume content and, most importantly, a habit of learning online has formed. What to do with all this now?
Prospects for earning in the online learning industry
In the wake of the popularity of online education, speakers and schools that bring up a generation of speakers and project managers who pursue the illusory millions that can be earned in the education market have entered the scene. Having seen enough inspirational videos, one in three is inspired by the idea of opening their own school. But, taking the first step in this direction, is faced with obstacles.
The fact is that there really are projects on the market that are monetized by millions of dollars. But these are market leaders who entered a niche 3-4 years ago, and their result is authority gained by time and experience. What earnings are waiting for a beginner?
If you are going to start on your own, and set up all the processes, from creating a product to promoting and monetizing yourself, then during the first 3 months you will earn at the level of 1-3 thousand dollars. This is provided if you have a really good product with a pronounced target audience and you give a solution to the problem to your client.
To break through the ceiling on earnings in this mode, and you will have to work 12 hours a day, and not everyone can stand it, you will have to hire a team. The staff of a minimally functioning school should have at least 5 contractors, and all of them need to pay a fee. At the same time, there will be as much operational work.
On high turnover at the level of tens of thousands of dollars. we can say that when you have already assembled the staff of competent employees, there is a clear separation of tasks and responsibilities. In this structure, you already take the place of an expert and invest your time purely in the learning process.
How to choose a niche for launching your project?
The structure of strong educational projects includes not only an expert, but also a project manager who ensures coordination of all operational processes, as well as a producer who promotes the project and the expert’s personal brand. It’s good to start with an existing loyal subscriber base, otherwise marketing expenses will exceed your expectations.
Method 1 Based on personal expertise
A universal algorithm for finding a cool niche is to find a “pain” or problem in a pronounced and large (wide) target group, create a product that closes this pain and gives the potential client tangible value. Often we find such ideas for courses in everyday life and in the professional field.
After you “found” an inspirational idea, think about how it can be packaged and in what form it is most convenient for the audience to consume. Try to make a test run, do some live broadcasts or free webinars to finally determine whether this product is valuable to people, whether they will buy it.
An important point! In no case do not record the course at a stage when this is just your imagination and the product has not been tested. You risk losing time and investing in a deliberately unprofitable enterprise.
Method 2 Select Trending Directions
Abstract topics to create a lot of online schools. The most popular at this stage are any courses that help a beginner learn a profession from scratch or improve their qualifications. Products that answer the trivial question “How?” Will always be in demand. Exclusive knowledge in any niche will be highly rated.
Well monetized courses for women, which are aimed at self-development, pumping personal qualities and life-coaching. But they, just like language courses, are in a highly competitive segment. Quite a lot of popular projects can be launched in the field of finance, beauty, health and hobbies.
Method 3 Find an expert and produce it
If you are not ready to take on the routine of creating and competently packaging the course, but have knowledge in the field of marketing and advertising, then your option to enter the niche of online education is to become a person promoting an expert and a project. Talented producers receive a salary for the time invested and take a percentage of the project’s profit. This is an interesting thought that may inspire many to seek opportunities.
We can definitely say that there really is money in online education. Moreover, during the quarantine period a lot of people appeared who were simply used to consuming information from online courses. All you need to do in response to the demand created in the market is to make a quality offer.