Passive income. For those who don’t already have their money or products working for themselves, it’s the seemingly elusive income method of making money online that’s constantly talked about but difficult to achieve. Generating a passive revenue stream won’t happen overnight, but it isn’t as far-out as it might seem to you now. One of the most accessible ways for you to start earning a passive stream of income within a few months is to create an online course. You can DIY your online course through various tools available and start generating income in a matter of a few weeks to a few months, depending on how long you take to develop the modules.
It’s likely that you do have a marketable skill that you can teach even if you don’t think so. Consider this: Your life experience is entirely different from that of your neighbours, your friends, and probably even many of your family members. Through hobbies and jobs that you’ve held, you’ve accumulated skills even if you don’t think that you have.
How should I decide on a topic for my course?
There are thousands of online course ideas that you can begin developing. Try searching for ideas and chances are, you’ll land upon or think of something that you can successfully teach. Perform a brain dump and create a document full of your various ideas. What do your friends ask you for help with? Are there any skills or specified knowledge sets that you’ve acquired at work? Think outside of the box and write anything down that comes to mind.
Isn’t it expensive to build an online course?
It can be, but it certainly doesn’t have to be. It ultimately depends on what tools you use to create the course. It’s completely possible to build a high-quality course on a reasonable budget using online tools and various low-cost software programs. Many of these solutions are available for free or for a relatively small cost. Of course, there are more professional solutions that are more expensive if you are looking for a top-of-the-line production value. That being said, you can absolutely create a course on a budget that looks professional and provides a valuable, recurring stream of income for you.
The largest potential expense and time-suck you’ll have when creating your online course will be figuring out how to host it, sell it, and process payments for it. You can use a convenient knowledge commerce platform like Kajabi to create your course through a convenient online course-builder, market your course, and deal with all of the heavy-lifting for you.
With a tool like Canva, you can design beautiful images for use in your courses for free even if you only have basic design skills. If your course requires clips of you speaking to the camera, you can piece together a mini, at-home filming studio with a set of inexpensive lighting equipment, a microphone, a high-quality webcam or your phone camera, and a low-cost backdrop.
Why would people buy a course when they can just use the internet to piece their learning together?
Time is money. While there are many people who don’t have $50, $100, or $500 to spend on an online course there are just as many people who do. By creating a course, you’re providing value to people who are interested in learning about what you teach. Most people don’t want to spend hours upon hours doing hundreds of searches to piece their knowledge together. Think about the last time you searched online for information about a skill you wanted to acquire. Chances are, you didn’t even remotely find everything you were looking for in one place.
Your course represents a compilation all of your valuable experience, research, and data in a convenient set of videos, documents, and other interactive content. It’s a one-stop learning hub for your customers, saving them all of the time that you spent learning about the course content. That’s incredibly valuable to people who don’t have the time to invest. Selling your expertise online can be wildly profitable. The e-learning industry is stacked up to exceed $241 billion by 2022.
Creating a course to sell online is easier and not as technical as you might think, especially if you take advantage of convenient course-building tools available. Once you’ve decided on a topic, draw out a tentative table of contents for your course and get to work producing it. There’s no need for you to purchase fancy equipment if you don’t have the budget – focus on creating unique, high-quality content that delivers real value. If the value is there and you’re using a platform to get the word out about your course effectively, you’ll be setting your future self up for passive-income success.