How to Create Passive Income with A Course
How much money can you make selling a course? Being an entrepreneur or course seller, you might have come across this question multiple times in your mind. Don't worry, and you will have your answer in the very next line...
Typically, the income remains between $500 to $5000 per month if appropriately pursued. Remember, it might increase or decrease with the course type.
Along the same lines, I will tell you some high-profile tricks in this article that can help you generate and multiple your passive income with a course.
There has been a continuously growing trend of creating and selling courses, and valuable courses have always been on high revenue in a shorter period. According to studies, global eLearning revenue in 2019 was around $200 billion, and this number is set to increase to $375 billion by 2026.
Though a lot of evil has happened in the pandemic, eLearning has got its culmination during the period. So, don't be overwhelmed due to the looming threat of this pandemic. Why? Just compile your course, comply with the given instructions, and earn a reasonable passive income from it.
I used to ponder that passive income is hard to make, and some of you might have this thought in your mind for the time being. However, when I got through the whole process of selling courses online, I realised that passive income isn't as elusive as portrayed.
Let us now learn together how we can generate a handsome passive income with a course. We will tell you how to create the course and then prepare it for passive income.
So, let's get the ball rolling:
1. Choose the Topic of Your Course
Some of you might be Jack of all Trades, and that means you are master of none. Things wouldn't work in this way, as you have to be specified about your course topic. To get the hard nut crack conveniently, list all the skills you have, and then shortlist the one you excel in and believe that you can create a difference.
Bear in mind, don't lock yourself into the bubble of skills only; it might be some exciting hobby that you can teach people or Yoga, Golf, Fishing, etc. Whatever you choose, you must be the best at that.
2. Do a Market Research
Now, you can further filter out more than one outlined skill or topic that you chose. It is the most critical step to define whether you would earn something out of your course or not, so be careful in your market research.
The purpose of the market research is to gauge an actual interest before you waste your time and money creating or drafting something from scratch that nobody intends to buy. Trust me; it's not fun. You will never want to spend a considerable amount and time on a project to know that nobody is interested in buying it.
For better market research and to remain on the safe side, you can conduct short surveys in the form of questionnaires by uploading them in groups of related discussions. You can easily find these kinds of groups on Quora and Facebook.
3. Make an Outline of Your Course
Having collected the public's opinion and analysed your excelling skill or topic, now you are ready to draft an outline of your course. Considering the course's nature, try to inflict a deep insight into your course contents and cover all essential aspects.
While drafting the course outline, don't misunderstand it with a blogpost that only skims the surface. To effectively organize your course, try to mainstream lessons and modules. Meanwhile, a module will be a subtopic, and it will be supported by the lesson that will provide the details of the main subject.
For example, if you are selling a course related to Yoga, you may have a module with the name 'Fitness Tips,' and your lesson in that module might include 'How to do Yoga for the best health' or 'Why Yoga is important for health.'
In short, it must be attractive enough to gain the attention of your targeted audience.
4. Decide the Method to Deliver your Lessons
I observed it is expected that courses are offered with a variety of teaching methods, such as texts, videos, infographics, audio, or a document. Nevertheless, you can decide the strategy of your lessons considering the nature of your course.
The best feasible solution is to choose two suitable ways and deliver your lessons.
Suppose that you are trying to sell a course that relates to a computer language. In that case, you can prepare a document that should comprise all technical and general concepts regarding the topic, and you can take along a video that should contain a step-by-step guide to learn that language.
5. Introduce You as a Brand
You were working on your lessons, and the next step is to make them public. I would strongly recommend you to introduce yourself as a brand. For that reason, create the name of the platform under which you will present your course. Udemy is a glaring example of it.
Add your logo that can distinguish your efforts from others, and of course, you will be able to create a difference through this venture.
6. Start Marketing Your Course
Last but not least, this step belongs to the marketing of your course. Again, it is a defining moment when you have to decide whether you will earn or not. Some of the tutors don't put any marketing plan in place and get nothing out of their previously done ventures.
On the other hand, an appropriate marketing plan can successfully market your course among your targeted audience. For marketing purposes, you can adopt the below-given strategies:
- Social media campaigns (Paid campaigns and group discussions)
- PPC advertising
- Marketing of your course through articles and blogs
- Search Engine Optimization of your Website
In this article, I have put together a significant strategy that could lead you to earn a handsome amount by selling your courses. Generating a passive income by selling your course is a time-consuming thing, but yet worthwhile. You can decide how much you want to earn monthly selling your courses; however, it depends on whether you remain compliant with the proven strategies or rely on your hit and trial methods.