Online Courses: 3 Ways to Get the Best Bang for Your Buck (And Monetize

Online Courses: 3 Ways to Get the Best Bang for Your Buck (And Learn to Monetize; Part II of two-part post)

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teachable summit

I’m picking up where I left on the previous post. Have you ever met someone who had the gift of facilitating an online course or a subject in a way that it is simple, relatable, and makes a significant impact on your learning experience?

Or maybe, besides the instructional gift, the person has a knack for creation. This person has a lot of ideas, but he or she is in search of the best way to transform those insights in a sustainable project that not only helps individuals but generates income.

Online Courses: 3 Ways to Get the Best Bang for Your Buck (And Learn to Monetize; Part II of two-part post)

I personally met quite a few of them. And also taking from my experiences, the challenge we faced firsthand was not knowing where to start and how to execute a feasible plan.

If you are someone who has a desire to teach a course, create your own, or monetize your ideas but don’t have any clue how, then stick around.

In the previous post, I talked about finding the best place to take online courses. In this segment, I will focus on online‑course creation and explore three powerful platforms and courses that will give you everything you need to have your course up and running in a heartbeat with no issues.

How can you create online courses?

1.Teachable

Teachable Academy is a platform that provides a learning environment for creators, bloggers, podcasters, business owners, and more. There you have the freedom to create whatever course you want.

I decided to play around with it and set up “my own online course.” I found it a very intuitive and easy-to-use platform. If you are well versed with WordPress, this will be a piece of cake.

You can set up your school in very few simple steps. On Teachable’s website, you click on “create new course.” Then you fill out a form that leads you to click on “create a school.” That is when the real creation starts. Teachable offers all sorts of support you can imagine, ranging from webinar, video tutorial, and knowledge base.

Provided that you are not on a free account, you can customize your own eLearning environment—including logo, appearance, and payment option—to look the way you want.

When it comes to money, Teachable offers multiple price plans:

Free plan – this is the one I’m current testing, which offers limited functionality.

Basic plan ($39) – you can have unlimited courses and students, a custom domain, affiliate program, drip content, third-party integrations. But there is a 5% transaction fee. This option doesn’t offer instant payouts, and payments are done every 30 days through PayPal.

Professional plan ($99) – it offers more advanced features. Besides all the features of the basic plan, instructors have access to a power editor, which gives the ability to add HTML and CSS code. It has a complete e-commerce setup for payment and advanced reporting. It allows for multiple instructors. And the best part is that there are no transaction fees and it offers instant payout.

High volume – It is a robust version of the Professional plan and mostly used by people or enterprises with a large number of students and courses, such as Joanna Penn and others.

Thousands of people, including big names in marketing and writing have chosen Teachable to host their online courses, such as Ryan Holiday, Nick Stephenson, Mariah Coz, and Lewis Howes.

teachable summit

As a last note, Teachable is also known for their Annual Summit, which usually takes place in the second half of the year. During this event, big names in writing, marketing, and entrepreneurship such as Nick Stephenson, Pat Flynn, Melyssa Griffin, Andrew Warner, Danny Iny, Joseph Michael, and John Lee Dumas share everything they know about creating courses, how they built a massive income, and how you can profit from course creation as well. This event is definitely worth checking out. I participated in it last year, and I left with tons of invaluable information.

2.Udemy

It a very popular platform for anyone who wants to teach an online course. One of the reasons is that anyone can set up a free course on Udemy. However, if you want to monetize your course, you have to be approved as a premium instructor first.

The process is pretty simple and straightforward. Because you already have a free account, on your settings, you simply switch your course from “free” to “paid” and apply for a premium instruction application. Once you fill out the short form and submit it, you can expect Udemy to approve the application within two days.

Before their courses go live on the marketplace, courses need to pass through the Udemy Quality Review Standards, which is a set of guidelines for instructors to follow that establish the “required” and “recommended” elements of the courses. Among a few requirements, Udemy requires that 60% of each course be in a video format; the goals section needs to be clear with information about the target audience, course requirements, and student’s takeaway; also there needs to be an introduction to the course guiding students and explaining the curriculum.

Udemy charges fees based on the revenue structure the instructor chooses. The revenue share ranges from 25%-97% depending on the instructors’ participation in their Udemy Marketing Programs. As a word of caution, the 97% is only possible with the Instruction Coupon in the Instructor Promotion. And there is a 3% processing fee applied.

After feedback from their community of instructors and students, on August 2006, Udemy made significant changes to its price model (read the price and promotion policy here). While before instructors were only allowed to charge $20-50 (those around $50 were priced at Udemy’s discretion), now instructors can charge $20-200.In addition, courses cannot be priced under $10 (price allowed for promotions).

Among other tools, the platform also offers Udemy Studio—a private Facebook group for instructors where they can discuss Udemy issues—additional help from the support team or the chance to watch their own free course, “How to create a course.”

Jeff Bulas and Shani Raja are some of the big names using this platform.

3. Easy Course Creation

This is another complete option. If you are looking to build your courses from scratch, learn deeply how to utilize the best tech tools out there, and build an online business, Easy Course Creation by Joseph Michael may be suitable for you.

Joseph Michael is the creator of “Learn Scrivener Fast” a course that I strongly recommend to writers, endorsed by powerhouses such as Michael Hyatt, Joanna Penn, and Jeff Goins.

He took on his own experiences starting from scratch and developing a success course that helps many writers and entrepreneurs and allowed him to quit his 9–5 job and build a lucrative business. After the enormous success, he developed the course to help individuals turn their ideas into reality.

The course is divided into five main areas or modules, each one with bite-sized lessons and tons of resources, including personal consulting with Joseph Michael, behind the scenes, group Q&A sessions, and more advanced training.

The program offers three packages ranging from a few installments of $89-287. It is another highly recommended resource.

Online Courses: 3 Ways to Get the Best Bang for Your Buck (And Learn to Monetize; Part II of two-part post)

Final Thoughts

With the plethora of options available, it is easy to select the first option that comes up. But with a deeper search, you are bound to find the one which suits your needs.

Whether you’re taking or creating a course, this two-part post was meant to give you a better perspective on reliable sources available out there and take the burden off of you. If you can make a source of passive income with online courses, it makes the mix even better.

Whatever path you take, I‘d love to hear your thoughts about your experiences, if you don’t mind sharing in the comments below.

If you missed the first part of the post, you can catch up on online course creation here.

 

** This post may contain affiliate links. To learn more, read full disclosure here.

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  • Have you try WizIQ?
    This is one of a perfect, secure and robust cloud based e-learning delivery platform. Course creation is very easy with WizIQ. It supports both self-paced and scheduled live classes.

    • Kelly Santana-Banks

      Hi Joseph,

      I’ve never heard about WizIQ, but I’ll check it out. It always good to learn new tools.
      Thank you for the contribution!

      • Here the link of the site -https://www.wiziq.com/