If you happen to be a subject matter expert in some area, then you could also consider creating your own course and selling it on an online educational site such as Udemy. It is possible to earn significant figures using this method, but it will also require significant marketing and promotion on your part. Typically, course creators will have some authority before they launch their course, and they can then market to it from established sources.
If you have a successful eBook, then you can also consider turning it into an online course, depending on how in-depth the eBook happens to be. Online courses are one of the most profitable kinds of business model there is, with people buying courses as soon as they go live. The fact that third-level fees are now extremely cost-prohibitive means that there is a definite gap in the market for these kinds of courses. People are looking at alternative means of education and online courses are far cheaper.
A key point to bear in mind is that an online course requires far more work than is commonly believed. As a rule of thumb, it takes about 5-10 hours of work for every hour of course material, where all facts must be double-checked. After you have created your course, you will then need to do the job of promoting it, which can take up more time than the creation of the course itself. Here is a basic template of what to do in terms of making a good online course –
1. Pick your topic. Make sure it is something that you love to talk about.
2. Make sure that there is a need for this topic. Remember, even if there is strong market demand, you can differentiate between other courses.
3. Decide on where you are going to sell your course.
4. Clearly define the course learning outcomes. Students like to know what the course will give them. This is a very important step.
5. Select and gather the content. Don’t delay, as this can take a long time. Just do it.
6. Structure the content so it is easily digested by students.
7. Produce and edit your online course. Video is the most effective delivery method.