Higher education & skills development continues to evolve in the virtual age. Avenues for an online education business in India has open of late. Online courses are being pioneered which has created a fertile ground for VCs and startups to champion new ideas for the future of learning.
Starting an online education business in India can be one of the most profitable ventures provided certain cohesive steps are taken care of.
Steps to start an online education business in India
Validate Your Course Idea
Validating your idea primarily aims at answering ‘how would you evaluate demand before investing your time & efforts into creating your course.’
Validating your idea requires thorough research at your side before you actually start implementing it. You must determine its existence and reach beforehand. Later on, sought feedback from people whom you trust. So many budding entrepreneurs have this tendency of getting stuck in “idea lock”. When you strictly believe in your idea, regardless of what others think, then it is time to reassess.
If your idea sounds rocking, set a prototype of the course. See if you’ll really use it once you start building a brand around it. Finally, you should work out a plan as to how you are going to attract your potential learners to check out your course.
Create an overview of the multiple ways you can create and deliver content. The delivery model is an important aspect in determining your online content type. For example, if your primary models are ad hoc online courses then you must create multimedia course content to fully engage learners coming from diverse fields. However, if your models are somewhat like educational partnerships, flipped classroom, and MOOCs then it totally depends upon your target audience and the objective you are trying to achieve.
High-Quality Video Content / Online Live Lectures
Recording your own videos as a form of virtual lectures is an integrated part of marketing communications. Videos are essential for a well-rounded marketing plan and ignoring this opportunity would only cost you your ability to reach those you can influence.
You can release a part of your recorded lectures online for free either through YouTube or as a free bonus chapter. If you are producing your videos at home, you don’t need a studio set up thousands of dollars. You can use some hacks as well as purchase only necessary equipment while creating video content. Here are a few things that you might look at:
- Production and script development
- Types of equipment to use
- Getting the best lighting
- Audio considerations
- Postproduction effects
- Publishing it online
Related: Tips to Start an Online Business
ScreenFlow/ TOC Walkthrough
A comprehensive walkthrough of Table of Content in the form of ScreenFlow gives learners an overview of the course outline. If targeted audience well, it surely gives a positive impact on gauging learners.
Related: 7 myths about launching online class
Marketplace and LMS Reviews
Udemy and Coursera are marketplaces with substantial limitations. On the other hand, LMS like Spayee, Teachable etc are great to build your online education business empire.
Hosting & Selling Your Course
The first step is to decide whether you want your branded online course website or want to sell on marketplaces. LMS like Spayee offers people the chance to sell through their own branded websites using easy to use course-building tools.
If you want to be competitive in your field, I recommend you to choose an LMS. You must go check out the top 3 criteria before choosing an LMS.
Pricing & Discounts
While pricing your course, you should offer discounts and subscription revenue models. Do some research to figure out how your industry leaders are doing. Consider your target audience as well as their paying capacity, and price your products accordingly.
Multiple Products & Bundling
You can offer multiple courses individually or in a package. This helps is upscaling when running an online education business.
Internet Marketing & Promotion
When you plan to sell online, you must devise a strategy to gauge your potential learners online too. Your digital marketing strategy must include the following:
- Personal selling
- Lead Generation
- Public relations
- Direct marketing
Opening an online education business requires extensive research and dedication. But, it’s worth the hard work and hustle. It can be very profitable and satiable in terms of educating to a massive population at competitive rates.