How to make money from your knowledge: 6 killer reasons to go online

How to make money from your knowledge: 6 killer reasons to go online

Posted on Oct 28, 2015
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How e-learning can make your offline knowledge work for you online

 

 

So much attention is still paid to the issue of online versus face-to-face training. It’s debated as if it’s a competition between the two but we’d suggest that the two work well alongside each other. They can be complimentary activities, which, when executed well, can provide even the most committed of face-to-face/freelance trainers with added value and income.

 

Here's why we believe this.

 

The advantages of creating online training

In some ways the advantages will depend on what your own personal objectives are. I’ve known people believe that there is social good that their content could bring to the world and so their objective is to have a platform to share this knowledge as widely as possible. For others (and this is not less valid), it was about creating an additional income stream for them: it took the pressure off them having to be stood in front of people to be earning a living.

However, there are clear advantages to creating online training courses and here is what we’d say they are:

 

1. Scale


There is no maximum, or minimum for that matter, on how many delegates can ever do an e-learning course. Whether it be one-by-one, or 99-by-99, the course is produced, it’s live, it’s accessible. It doesn’t depend on room capacity, subscription, or max number of students allowed in your virtual classroom at any one time: it’s there. This is true for both the lifetime of the course (once the course is created you’re all set unless you want to make updates) and at any point in time (as long as you’ve got your course hosted on the right solution, the “juice” behind the scenes should scale up and down to ensure that 1,000 users can only log in simultaneously and the course still loads and, conversely, scale back down to 5 once they’re all gone to avoid you paying through the nose for unnecessary bandwidth.)

(Small disclaimer – slow systems and courses are a massive pet peeve for flick so you’ll find that we mention it more than most. Who can blame us when Amazon Web Services (AWS) exists to offer such a scalable, responsive service?)

 

2. Cost


This has been deliberately placed after scale for the sheer reason that the two go hand-in-hand. While it might seem that online training is costly, the reality is that once your course is produced there is limited ongoing cost meaning the more you sell, the greater your profit margin. I believe, in proper words, this means it’s a fixed-cost base versus a variable-cost base of face-to-face training.

This is why it goes hand-in-hand with scale because the bigger you grow, the cost base stays (more or less) the same.

 

3. Duration


What’s your own attention span like? No matter what you answer, the chances are that you’re overestimating it as the current attention span for humans is calculated to be 8 seconds (aka less than a goldfish).

 

Attentions spans of humans VS goldfish

 


The decrease is attention span is prompted by the notion that all information can be distilled down into very small chunks: twitter is 140 characters, vine is 6 seconds, snapchat is 10 seconds. Enter micro-learning, which allows people to learn in very small bite-size chunks lasting a mere few minutes too. The benefit for the learner is that there is no half-day/full-day course that you need to make time for and so the whole learning experience becomes all the more flexible and easier to incorporate into people’s lives. The result? One more barrier to purchase removed.

 

4. Availability


E-learning is available 24/7. E-learning is on demand: it’s right there at the point you need it so there is no waiting, no travelling or compromise. This means that you’ll be able to engage with your target audience at the point at which they’re most engaged ie the point at which their need is greatest.

5. Income


The pressure is off; online content doesn’t need you to be physically present for learners to complete their learning experience. Obviously this provides you with many benefits:

  • Peace of mind – if you’re sick or unavailable, there is still a source of income flowing in.
  • Growth – when you are working, your online content is working alongside you so your time becomes all the more profitable.
  • Greater breadth of offering – providing a wider range of potential customers.

 

6. Go global


One person's capacity is finite and, unless there’s been a recent innovation I’ve missed, it’s still not possible to be in more than one place at a time. This limits the distance over which you’re going to be able to offer your services. The same limitation doesn’t apply to offering your services online as distance becomes irrelevant.

Speaking with a customer recently, their driving force for taking their content online was altruistic. She knew that the work she does has the potential to change lives and she wanted young people all over the world to benefit from it which she knew that she wouldn’t be able to do in person. (This is pretty brilliant for us to be part of, too.)

 

Learn more about the flick approach to creating custom e-learning

  

Why using custom e-learning developers is beneficial

Online is different to face-to-face so, no matter how amazing you are at what you do, you will benefit from support in putting your material online. For example:

 

  • You tend to find that material going online has a different flow/order when it goes online. A whole host of technical considerations: is the content responsive? Is it multi-device/browser compatible? If you want some prompts on what specific things you need to look out for, you can download our LMS planning guide for free now
  • Support: are you set up to handle a whole host of queries about login details, and other questions the end users might have while going through the content?
  • Time – can you afford to take so much time out of your day job to work on this? It’s likely to also be quicker if you have to skip the learning curve of picking up new software and have someone experienced create it in a shorter timeframe.
  • People learn differently online – we don’t read well online, there’s a marked difference between asynchronous and synchronous learning and then there’s how people interact differently with information on their phones (and you’re in the realm of m-learning.

If we’ve jumped into the world of alien e-learning jargon, have a look at our A-Z glossary of learning terms to understand what it all means.

If you're thinking of creating some online content and what to see how we could help with that, leave us a comment below.

 

 Explore what your e-learning course could look like for free

 

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