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How To Earn a Passive Income by Selling Online Courses?

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Published on: 24 May 2022

Who doesn't like an added source of income? Especially when it comes to counselling and guiding people. Such is the case in selling online courses. It is nothing more than re-skilling yourself and nothing less than upskilling others. 
However, it is one thing to create an online course and another to sell it. It is easier to master a skill than to share wisdom. But do not worry! You will only grow better in creating and earning money via online courses from today. 

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Warning: This content is only meant for serious readers. Experts must follow along carefully(as they are about to become professional content creators).

Let's understand the process of creating online courses.
These steps are precise and must not be taken otherwise.
 

Decide your topic 

It is essential to be sure about the topic of discussion. You might not want to regret your decision halfway through your content's production. Always pick a point at which you enjoy complete authority. Moreover, you should also be comfortable teaching that one chosen topic. If possible, try to think over this matter with others, as they would better judge your coaching abilities. 

Now, you also have to be sure about the demand of learners. Even the best online course won't fetch money if nobody wants to buy it. Research the most purchased topics and develop a system that caters to the same audience but is slightly different from available options. 

Decide your audience

This step runs parallel to the first one but surely needs consideration. Try to locate your target market to understand their demographics and educational background (for obvious reasons). First, you should develop every aspect of your course per your audience. Second, this data will help you compare your goals with your actual results. 
 
Understand the psyche of those you want to guide. Talk in their language, adapt their manner, develop a personality they might admire and be their inspiration. Of course, do not try too hard, or you will get rejected. Choose an audience that fits well with your teaching and communication abilities.

Indulge in pre-selling

Pre-selling provides you with a taste of your sales before developing a course. The process lets you comprehend the profitability of your system. In short, you get to know the USP and shortcomings of your product (by an educated guess).  

In this phase, you have to judge your concept in the real world. You sell the idea to the potential user and look for contradictions( as per your plans). It helps you dodge many issues that might have hampered the actual sales of your online course. Sell your system at discounts, let people book their slots and give advances to early birds. 

Let people know you exist. 

Choose a platform

A few global platforms provide excellent opportunities for people interested in selling online courses. Looking at it practically, a single person seldom has the money and resources to market their online courses. It is tough to reach a large audience without backing from a promoter. 

This is a crucial situation, as your alliance significantly impacts your eventual sales. We advise you to be with a promoter who treats you as their partner instead of a shop owner in their market. These words might be harsh, but we are talking business here. Be cautious and read between the lines. You have to be reasonable and should also believe in the platform's vision. Why? Because you will regret your decisions every time, things get a bit shaky. 

Develop the course

It's showtime! You will now enter the production process. There is no room for error in audio or an online video course. Make sure that you use an industry level audio and video recording device. Use a good looking background (white preferred), and do not go short on lighting. 

Divide the course into sections and subsections. Ask questions, provide debatable topics and create an interactive atmosphere. Remember, you have to add "extra" to everything you do, as students cannot feel your physical presence. 

Assure your students about your authenticity or share stories with inspirational value. Lastly, do not forget that your students are always more intelligent than your predictions. Talk with integrity. 

Determine the price 

Only you know the actual value of your online course, but it is not always in harmony with market demand. Set a competitive price so people have another reason to jump to your class. Again, this might be your first online course, so you can't brag about many things. 
Estimate a price range where the majority of your audience feels comfortable. It might be the trickiest part of the process, but it pays off in multiple folds. 

For steady growth, you will have to increase your prices and increase the number of courses. 
A steady increase in prices would be better than a considerable jump or plunge. In this way, your credibility will not take a hit, unlike some creators known to be sell-outs. 

Ways to promote your online course 

Apart from choosing a platform, you also have to market your courses at your end. Marketing becomes more critical if you decide to sell your system independently. Furthermore, it will help become more than just another course on the e-learning shelf. 

Use Facebook and Linkedin groups to spread the news and gather momentum. However, only let your real customers join the groups, or things can become chaotic. If possible, you can hire an SEO expert to boost your organic traffic, and those guys can take away some of your responsibilities. 

You can also indulge in email marketing to spice up your conversion rate. Although this practice is rewarding, one has to put in a lot of effort initially. Collaboration is another excellent way to approach a new audience, but the chances of getting a worthy and reliable partner are low. However, that must not stop you from trying. 

Blogs, podcasts, Google ads, YouTube and social media also count, but one needs a strategy before immersing in the social media atmosphere. What if social media and learning were unified? Get the answers here.

You have to be on your feet 24x7 to generate a steady money stream from online courses. To earn a substantial amount, you have to work more than most people sharing mediocre information on the internet. That's not even the hard part. The art of online teaching boils down to resolve and sheer willpower. 

And if you have read the blog till now, you indeed have them. 
All the best! 

FAQs

Is it profitable to sell courses online?

Yes! You can earn a handsome passive income by using your teaching skills. Notably, it can be your primary money stream too. 

Which online course is best for earning money?

Marketing and creative skills have the largest audience. However, these skill domains also experience cut-throat competition. 

How do you start a successful online course?

To be successful, you must provide extensive value with your online course. Secondly, you must choose an online course promoter which suits your goals and vision. 

How much does it cost to create an online course?

It depends! There are a lot of variables, but you can easily create your first course with as less as $200. The upper limit is subjective on your reach and production level. 

How do you structure an online course?

Online courses demand sub-sections strategically for in-depth teaching possibilities. Make sure you create chapters, questions, and projects to better impact learners.