Creating an Online Training Company in 2019 (An Extensive Guide)
Johann Wolfgang von Goethe once said- “What is not started today is never finished tomorrow.” And now we as the most advanced generation of humans walking on earth know his better than anyone else. Now, why E-learning? Well, a huge number of businesses including the tech giant Google is investing in the most sophisticated form of modern education- e-learning this year. Wingspan- a cloud-based online learning software from Infosys is yet another example of this forthcoming educational revolution. So, what does it actually take to kickstart your own online training business? What all things should have to be done to bring the best out of your e-learning strategies? Through this piece we hope to answer these questions; also ought to guide you throughout your startup business phase.
Working Model and Use cases
The possibilities of online learning are infinite; it can be applied to diverse aspects of the business to ascend its performance and potential. Fundamentally an online training platform is just an efficient way to train and improve the skills of employees, students or anyone who consider learning as their prime motive. However, how an online learning platform behaves is quite simple. Users can pay and access the course of their need. Further, they are given the freedom to choose the mode of learning they admire. Assessments, quizzes and other engaging activities can also be incorporated to make the process more interesting. When it comes to the revenue part, the total income is split among the website owner and the tutors. Anyhow, the website owner/admin is the one who decides the commission percentage. As a startup Online training business, the best business model one can experiment with is the subscription-based model, which is much stable and effective in terms of ROI.
In addition to this, an E-learning solution is ideally suitable for a multitude of business scenarios. The most popular among all its applications are corporate learning. An efficient learning management system can actually bring a great difference in terms of employee retention, productivity, adoption of new skills and more. Apart from this, there is always the opportunity for those who seek to begin as an individual business. With a digital training platform in hand, you can create individual courses and make use of the e-commerce possibilities, or it can be integrated as part of a university or academical institutions as well.
Building an Online Training Platform- Effective Approaches and Strategies
Other than the business strategies one should implement to conquer the market, the process of e-learning development also requires clear planning and logical approaches that satisfy the needs of that particular endeavor.
Get Started with target audience demographics
Finding the appropriate niche is the first yet essential step in E-learning business. For instance, there are several niches which have already been open and proven favorable for e-learning possibilities. IT sector can be considered an ideal example for this particular scenario. The demand for skill improvement and compliance training in IT is well known, also, is not explored to its greatest potential. However, once you decide on the niche you want to serve, you can move on with planning, strategizing and implementing whatever ideas you’ve in the mind.
Above all, analyze the demographics, special preferences, and expectations of your audience; for it is crucial when it comes to UX/UI design. Guess what! If you fail to deliver the experience you users admire, your efforts will go in the vain. Do research on competitors, understand the market needs and commence creating a platform that can meet all the needs of that particular niche sector.
Right Tools and Technology Integration
Because today’s world is so driven by competition and innovation, integrating the right technology is the most prominent way to get an upper hand in the market. As we are aware, eLearning is 50% content and 50% delivery; and the delivery part is dependent on technologies. Since the delivery involves speed, responsiveness, ease of use, features and more, choosing the right technology and incorporating the same where it is required will transcend the perspective of your business.
As for instance, if you have a plan to enhance your business productivity through an employee training program, you need an efficient LMS system. And to a much deeper level, you need to include suitable technologies to ensure secure payments, data security, and so. However, from a startup perspective, we always recommend our ready-made e-learning software solution; because it eliminates all the tedious practices involved in the e-learning development processes. Also, it can easily be customized and transformed into a fully-fledged Skill training platform.
Most of the e-learning platform offers built-in course creation tools; for it should be handy, at the same time, efficient enough to create courses without any hassle. Besides, Google Analytics as a web analytics tool can make a significant difference in the way you see your business. It gives actionable insights, which helps you make sense of all the data you gathered.
Combine Diverse Learning Methodologies to Promise Flexibility
What makes a Virtual classroom platform different from the conventional education system? An e-learning platform is a complete package, which involves everything traditional learning scenarios can offer, moreover, novel practices that are much engaging and effective. Here we list out the type of learning services you can render by making use of a digital platform.
Onsite Training – Every online training business offers this opportunity for their users. Clients can request this service at their premises. For instance, an organization which is focused on IT operations can make use of this option to train their employees.
Online Training – Unlike onsite practices, online learning is much cheaper and easily accessible as well. Also, it is known to be much effective in terms of reaching more users. According to the Chartered Institute of Personnel and Development, e-learning will make up 25% to 50% of all training within three years.
Public – Setting up a public event and allow anyone to access the course for a specific price; this is how public courses work. This method is quite familiar among small-level enterprises, who lack the resources to make in-house training viable. However, this particular mode of training requires careful planning and a greater upfront investment.
Content is Always the King
As discussed before, the significance of content creation in e-learning cannot be neglected by any means. In fact, itis through words you are going to convince the users, so imagine if the content you invest on is not up to the mark, it can severely damage your entire business operations. Understand the niche and your audience, pitch it in such a way they can relate, also, make sure that the content is polished and personalized enough to allure every individual user. Hire the right resource, be clear about your requirements and goals, and make sure the content you publish will justify the same.
Nothing Wrong with Mutually Beneficial Alliances
Even though success is typified as a lonely road, potential partnerships can facilitate your business operations to a great extent. Especially if you are someone who is new to a particular market and is planning to start small, it isn’t practically possible to handle every aspect of your business. This is where alliances came into play.
Let us consider Marketing and promotion as an example. For many entry-level businesses, it is hardly possible to manage this aspect of business efficiently. But this doesn’t diminish its significance. This is why it is crucial to find the right alliances. You can partner with freelancers, subject matter experts etc to ensure smooth functioning.
Streamline Your Promotional Strategies
P. T. Barnum once said, without promotion, something terrible happens- nothing”. Without marketing and promotions, all your efforts are in vain. But for every dark corner there’ll be a sunny side too, isn’t it? With the right marketing strategy, you can make your dreams come true. And all you have to do is to project the significance of your solution and why it is needed. Also, you must know where you can find your audience and how to pitch your ideas clearly.
When it is about digital marketing, one cannot elude the possibilities Google offer. Optimize your platform as per Google’s search engine guidelines, invest in prolific SEO strategies, share quality content and see the magic manifest over all the efforts you put into it.
A Recall to Modern-age E-learning Businesses
Millennial businesses have the luxury of opportunities than any generations of trade came before. And we as a generation managed to bring forth the best out of those so far. However, even though you have all the resources and information at your hands, you need to know how to utilize it productively. Here given a brief list of strategies that can actually act as a blueprint or even a guide for your next E-learning business endeavor.
- Develop and share personalized content for your target audience
- Implement a microlearning approach
- Offer easy access to the courses and course materials
- Make sure the UI/UX design is up to the mark
- Make sure the content you publish is informative, realistic and actionable
- Utilize the multimedia possibilities to its fullest
- Incorporate rational assessments and other valid practices that help you scale the user’s learning level
- Build a community around your business
- Be open to criticisms, gather feedback and constantly improve the experience
Modern age E-learning enterprises are highly future-focused and are taking actions to achieve the most from this upcoming goldrush. Hence and so, to survive this enormous competition, you must be extra innovative, also, should be willing to take risks that no one dares to take. Anyhow, the insights we shared with you are proven effective; with the addition of the right innovation, you can secure your spot in the future e-learning business realm.