Online Business Idea: Learn How To Teach And Make $75,000 Per Year In 2019!
Every one of us has pocket skills. There is something people are naturally good at, whether it is a technical skill or passion. Some are lucky to be able to make money from it, while others are not. Maybe you already have those skills as an entrepreneur and are looking to scale your business and to earn passive income. You could be someone with a lot of wisdom to share what you are good at. Or you could be someone working your way up the pyramid, in need of extra money to fund your passion. You could be someone struggling to market very specific skills and expertise into something profitable.
There is good news: In the digital era, a pocket skill is all that is needed to earn passive income — basically, that is money in your pocket while you sleep. That, and Udemy.
Crash course on Udemy
Before getting any wrong ideas on Udemy (pronounced you-deh-mee), it is like any other reputable business — it is an online business. There is no dirty or illegal money involved — just you, a pocket skill, and the commitment to teach online.
Because Udemy, as an online business platform for professional adults, is also an online business for those willing to teach online. Udemy has over 80,000 different courses for 25,000,000+ students, under 35,000+ instructors who teach online. All those 35,000+ instructors range from professionals to teachers and to everyday people who have utilized the rise of online education — a platform tipped to pass $1 trillion in the near future. All those 35,000+ instructors have found their niche and have turned it to an online business — this time, they teach online.
How is Udemy different from an online business?
To teach online is a business in itself. First and foremost, you need your hard skills to turn into content — content you will be producing through a video camera, audio clips or Powerpoints. You will need to package those skills in an online course format that is engaging, educational and easy to digest. Afterwards, you will need to promote your content to potential students.
It sounds familiar and is like any other video learning platform or online business, except:
In Udemy, you do not build an audience with free content later monetized by advertising. Udemy advertises you. Udemy brings the students who are interested in learning your skills to you. You get money from the get-go. In the first month, you may receive as little as $11 — only for it to grow to $4,000 in the fifth. Taking the other route for money requires around a year or two of hard, unpaid work without guarantees of success.
No Capital Needed
Starting an online business usually requires you to spend on things such as your own website, advertising, SEO optimization, products and more. All you need to invest in Udemy are your skills and willingness to teach online. Udemy works on shared revenue which is significantly cheaper than if you maintained things like a domain.
Beyond the Classroom
Udemy is not your typical learning platform. Your students are not those with finals for algebra or sociology the next day. Your students are eager to learn things beyond what the classroom or the academia offers. They are looking to you, the expert, to give them the necessary hard skills to equip them in their chosen professions or passions. It makes Udemy a great online business for professionals to scale their business. Or the students could be on Udemy for their hobbies and interests which you now have a reason to make a profit from.
Udemy Does Not Buy Your Time
You could be asleep, on vacation, or focusing on your business or day job. Still, Udemy lets you wake up to more dollars you had in your pocket yesterday. A lot of people have dropped their jobs to enjoy the freedom that Udemy has given them through passive income. Even getting five to six-figure incomes does not compare to getting as much as $75,000 for sitting back and reaping what you sowed.
Udemy Teaches You
The people who are best in their craft recognize there is still a lot to learn despite what they have already mastered. And teaching is the best way to keep learning. But aside from that, Udemy gives you free courses on how to build your own course as you start. It also provides you with things such as an instructor curriculum and course marketing tips to make sure you’re on the right track to teach online.
What to teach online?
Now that you know how Udemy works, it is worth asking: What skill do I have to offer? What can I teach online?
Get to Know Yourself
What are your hobbies? How do people perceive you skillswise? Is there something you could do your colleagues cannot? It does not necessarily have to be professional. Maybe people ask you how you photographed your latest social media post. Maybe people secretly want to know your diet regimen. Maybe people nudge you to start up a restaurant. Professional or not, it is important to focus on your strengths as a person. There will be self-doubt along the way as you teach online on Udemy. What is important is that your skills are now built on purpose when you become part of someone’s learning process.
Research Your Potential Audience
Even if Udemy gives you your audience, it is still important to know what they will achieve at the end of their learning experience with you. Why have they come up to you in the first place? What do they need? Maybe they want to become an entrepreneur like you. Or maybe they are interested in the hobby that fascinated you when you were their age. Identifying a problem that you are helping resolve will give your online business a solid foundation.
Validate Your Course
Just like validating any business, you have to know whether the materials for your course is in line with your students’ learning experience. Is this the best way to teach it? Are there other methods I need to keep in mind? How do I recognize different learning curves?
Professional or not, you could teach online on Udemy and earn as much as $75,000. Paul Thomson, an entrepreneur who built an online business empowering other entrepreneurs in creating and selling online courses, told Forbes: “You are the master of your own craft and have skills that other people want to learn.”