Knowledge is more accessible than ever thanks to online learning. In addition to giving millions of people around the world access to industry insight, the online course market has also given entrepreneurs the opportunity to get paid for sharing their knowledge.
If you’re reading this post, chances are, you are an entrepreneur looking to start your own online course business.
According to “Entrepreneurial DNA” author and BOSI Global founder Joe Abraham, there are four types of entrepreneurs. You have Builders, Specialists, Innovators, and Opportunists.
No matter what kind of entrepreneur you are, you can also benefit from becoming an
1) Builder – Increase Your Reach
You’re motivated by the desire to build a highly scalable business within a short period of time. While turning a profit is important to you, you measure success through business growth and infrastructure.
So why should Builders enter the e-learning space?
Increase your visibility. Thanks to the Internet, you’ll be able to sell your course to a wider audience—giving you a greater chance of expansion.
Create passive income. You want growth and you want it fast. Income plateaus are an especially frustrating thing for Builders. An online course can help you counter income plateaus by creating another channel of sustainable income. Developing and launching your course may take a significant effort initially, but stick through it, and you’ll be awarded with a nice stream of passive income.
If you’re just starting out, read this article: 5 Steps to Creating a Profitable Online Course (And Mistakes to Avoid)
2) Specialist – Establish Your Reputation
As a Specialist, you tend to lean more analytical and risk-averse. In business, you value networking and referrals most.
You’re an expert in your field, but unlike Builders, scaling isn’t your strong suit. Here’s how creating an online course will help you level up your business:
You’ll make a bigger impact. Motivated to spread their expertise, Specialists can sometimes stretch themselves out too thin—burning themselves out quickly. With an online course, you can expand your business and reach thousands of people right from a computer screen. People will see the value in you and your services…which brings us to the next point.
An online course will help you build your reputation. In addition to gaining visibility, creating a course allows you to position yourself as a leader in your industry. Sell a course with valuable information and outcomes and you’ll strengthen your credibility amongst students and within your field.
3) Innovators – Introduce Yourself
To you, the phrase “out with the old, in with the new” is a lifestyle. Not only do Innovators want to create new ideas/solutions to people, but they also want to change the way people approach problems themselves. You want to create a new market.
To you, success is about impacting other people’s lives for the better with your product or service. In order to achieve this, however, you need to gain visibility.
An online course will help you introduce yourself to your audience by acting as a lead and by giving you a new way to market yourself.
More often than not, innovation happens in gradual steps. Selling a course online gives you the chance to rebrand yourself or market yourself to a new audience. You can also use your course as a lead magnet to establish a relationship with your audience. If your course produces outcomes, it’ll work as an incentive for your students to see what else you have to offer.
Once members come to trust you, they’ll see value in YOU along with your other products and ideas.
4) Opportunists – Make More Money
Opportunists are natural promoters and excel at marketing and selling. You recognize opportunity and know how to capitalize off it. You aren’t afraid to take risks.
You define your success by the amount of money you make when you aren’t working. You’re constantly drawn to new business opportunities to create additional sources of income.
So, why should you make an online course?
It’s simple. Because there’s an opportunity to be seized. Take advantage of today’s flourishing online course market. Initially, it’ll take money to make money, but that’s a concept you’re familiar with. You’ll quickly see your investment pay off.
Plus, an exciting thing about online courses is that you aren’t limited by time. Since you aren’t trading hours for dollars, your income is only limited by your audience and your course topic’s profitability. Aside from that, the sky’s the limit!
5 Steps to Make More Money with Your Online Course
Download our free ebook to learn our proven methodologies for making more money with your online course or membership site.
Entering the online course market is a natural step in growing your existing business or an exciting adventure if you’re starting it. It doesn’t matter if you’re a Builder, a Specialist, an Innovator, or an Opportunist, creating an online course will help you gain another stream of income, grow your audience, and fulfill your own personal definition of professional success.
Trust me, as a fellow