Have it ever crossed your mind to start a business around teaching and sharing your experiences and expertise?
Perhaps you’re interested in transitioning from a service-based into a knowledge-based business.
In this article, we’ll share with you 7 benefits of having your own online education business.
Before we dive deep on the benefits, first we must understand what an online education business is.
What is an Online Education Business?
An online education business is a type of business where you create and sell your knowledge and learning products that relies on the internet for a student and teacher interaction.
I think now is a perfect time to start a business by sharing your knowledge.
– Lewis Howes, School of Greatness
Types of Online Education Products
There are many different types of products you can create and sell in your online education business. Even though these products are different, they compliment each other, enabling you to build an ecosystem for your business. Let’s have a look at each one in more detail:
- Online Courses: Are pre-recorded videos that a person can watch online to learn a knowledge or skill. These videos are a collection of lessons and modules that people can watch at their own pace/time. These are usually laid out in a sequential order for the student to follow.
- Online Workshops: Are intensive, interactive, and fun educational discussions and activities that are done online with a small number of students for maximum learning efficiency. These workshops focus on learning specific techniques and skills in a particular field and give an in-depth look.
- Online Webinars: Are live or recorded presentations streamed online to teach the viewers about a knowledge or skill. During the presentation, the viewers can see and hear the presenter, view the presentation slides, live chat, answer polls, etc. Presentations are often followed by live Q&A sessions where viewers can ask questions.
- Online Coaching: 1-on-1 or group coaching sessions done online. The coach guides and helps their clients reach their full potential by listening with intent and providing enthusiastic support and actionable advice.
- Online Membership Community: It is a community where you provide members access to content, resources, and live and recorded educational videos that are exclusive to your community. The members typically pay monthly or yearly to sustain their membership.