How much money can I Really Make?
Launching an online learning platform or set of online courses can, of course, bring you an unlimited passive income stream or source of capital, but it can also offer other multiple benefits to you, your household or business.
There’s a huge potential to make money through online courses. From simple online lectures to intensive video courses, you’ll find courses that charge anywhere from a few hundred dollars to nearly $20,000, depending on the topic.
How much money you can make with online courses mostly depends on the resources at hand, including the value of your personal or company’s branding, your industry or target group and the work you put on creating, marketing and selling courses. You could be earning from a few hundred dollars per year to a six-figure income and more. You can use our Course Revenue Calculator for a calculation of your potential profits.
However, changing people’ lives by sharing your knowledge is invaluable. And when your course income comes in, it’s a good idea to invest more in your online business ????
Launching new courses will bring repeat buys from current satisfied customers, with each course launch bringing in more income while improving your course’s content will allow you to sell it for a higher price!
Creating and selling online courses is a booming market internationally. The elearning market was valued to over $165 Billion in 2015 and is expected to exceed $240 Billion by 2023, with a yearly growth of 5% (Global Market Insights, 2016 report)!
Investing in education and lifelong learning is an emerging trend among both old and young, and online courses come to fill the gaps of knowledge. People tend to prefer the comfort and flexibility of their own homes, avoiding the complexities of commuting to physical classes.
If you are not already offering your own online course, you are missing out on a big opportunity. Be among the first to get into the online courses in your niche and you won’t regret it. But the question remains, how much money can you make with online courses?
Online Course Revenue Calculator
That’s simple to answer. Based on our customer’s data we’ve developed our own simple equation, for this exact purpose! By completing the equation below, you can have an estimate of your profits of your own online school.
Things to consider when determining your price:
- Your Time (per hour cost of development)
- Applications used to develop your course
- Equipment
- Contractors/Employees
Equations:
- ___ courses x $_____ = $ ______
- $ ________ (amount you want to make) / _________ (number of people to serve) = $________ (course price) EXAMPLE: for 6 hours class, I need to make $1200 and I want only 10 learners so the price per learner is $120.00
Making a profit from Online Courses
There are a lot of factors at work when creating your own mini online university and profits from sales vary. It mostly depends on the value of your personal or company brand, marketing, transformation you are delivering, and the work you put in creating your courses. You could earn a few hundred dollars per year to a six-figure income and more.
Some factors to consider are:
- Personal Brand Recognition
- Level of Expertise
- Training Content at hand (blog posts, books, videos/vlogs, audio/podcasts)
- Topic of the Course
- Size of your Audience
- Audience’s Income
- Market Size & Competition
The whole thing is that you have to get in front of the right people, with the right message as much as possible.
Here’s how:
- Email list
- Social Media posting
- Ads
- Word of Mouth
- Fundels (Funnel to the Funds)
Tips to Keep Design and Develop Cost Low
Use what you have and release the overwhelm of trying to figure it out!
Launching your online learning environment is a like a lot of work, but with Creating Your Classroom resources and support you can have one ready in two months. Getting started with creating your own ATM (Automatic TEAching Machine) is super easy because, friend, all you have to do is recycle old material.
Let me show you!
You can use..
- Previously developed PowerPoints
- Old blog posts
- Checklist you created
- Video / Audio recordings (seminars, speeches, interviews etc)
- Books / eBooks or company information material
Use what you already have to lower spending of your time and resources on new content. Reusing your old material, can increase your course’s ROI (and your own income) because it gets it in the market faster and you can start collecting funds quicker.
Does this help you see how you can make money while you eat, sleep and play? In the end of the day this is what we want for our family and business.
Can I get an Amen?!
Tell me what has helped you the most in this blog. I’d love to know.
Happy Creating!