The platform Teachable allows people to share their knowledge with others by making and selling online courses. An online space for students and teachers, Teachable published an extensive report about how entrepreneurs can make money sharing their knowledge.
With the company valued at $134 million in 2018, Teachable CEO and founder Ankur Nagpal said that the platform has driven $500 million in earnings for teachers on its platform. Nearly half of that was earned in the previous year, Nagpal said in a March Techcrunch interview.
Here are some highlights from the report: 10 Tips for starting your own online course business.
Your course can be successful without targeting millions of people.
Selling your course at a higher price makes it easier to meet revenue goals. Students also tend to be more invested in a class they paid more money for.
Offering coupons and free trials is a great way to attract potential customers to your online course.
You can make a living wage teaching only one course. More than half of the top-earning schools on Teachable offer one-to-five courses.
Teachable CEO Ankur Nagpal says, “Just keep going until it happens. Because it will happen.”
The actions you take for your business are directly related to the goals you set.
People will be drawn to your course because of your authenticity.
Shorter courses and videos allow your students to learn skills quickly.
This tool helps to build a community around your course.
Quizzes keep students engaged with the class.
