January 24, 2022

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How to Start a Successful E-learning Business In 2022?

6 min read
online learning platform

When Mark Zuckerberg started up with Meta Platforms, Inc. formerly Facebook Inc., he was quite vociferous about an information revolution taking place on the aforesaid social media platform. Today, let alone social media, we see the exchange of information taking place on one or the other platform, and whether that’s a text messaging platform or more than just text. In such times of revolution on the internet, social media, or instant messaging apps, eLearning platform business becomes quite evident and one of the best ways to seek skill-enhancement.

That said, we have recently been through one of the most difficult times when the first and second wave of global pandemic hit us and barring the essential sectors almost all the other sectors suffered loss of productivity and income. The education video streaming platform sector was no exception then when most educational institutions had to make a sudden or gradual shift from in-person classroom learning to online and distance learning.

A research article on the Public Health students of GSU mentions how the University can help students make the transition from classroom learning to eLearning without any loss of motivation and classroom learning benefits. The challenges a classroom learning University faces include having access to appropriate hardware, change in course curriculum, software and internet services. The moot question is — can eLearning imbibe the same kind of values in students as that in classroom learning?

Now, how exactly would you define eLearning and how entrepreneurs and SMEs (subject matter experts) can have more than ordinary profitability through this mode of learning as this blog is being written from the perspective of those involved in the business of eLearning. To know this and more, continue reading.

What does it mean to impart E-Learning?            

Sander Tamm speaks up in detail on the meaning of eLearning by first stating that defining eLearning is not as easy as it might appear. E-learning or electronic learning or online learning platform, as he points out, refers to the acquisition of knowledge through the electronic medium by accessing the learning material anytime, anywhere, and in any form.          

Further, when it comes to starting up one’s own eLearning enterprise, you do not just reap benefits in terms of money but a loyal team of followers who are always ready and keen to learn. From college-going youths to professionals in the corporate sector, almost anyone can be prompted to engage in eLearning. And, what can be a better proof of the massive growth predicted for this sector than to know that the worldwide revenues in 2025 is expected to grow by three times the revenues reaped in the year 2015, that is — $325 bn as against $107 bn. 

How Does E-Learning Benefit You or The Other? 

It would not be wrong to say that no business is bad business as long as you know how to start a business in a certain kind of market circumstances and how successfully you implement it. For instance, you could always create an online course and make someone learn about how to bake a delicious cake or how to start your advertising agency. In essence, what seemed to be impossible a few years ago sounds so possible today, given the fact that most of us are so well-equipped with hi-tech computers and mobile phones. 

So, let’s have a look at the benefits of the eLearning business model from the purpose of starting your own business and eLearning for any naive, semi-literate, or literate learner.

  • Savings in time and money 

A student enrolled in any short-term or long-term course might be located in any part of the world and yet could access a course, as long as there is strong network connectivity. No need for either the mentor or mentee to travel and spend time on what could always have been avoided. It’s cost-effective too, as there is no need to relocate and look for accommodation. Also, there is no need to buy a book to learn something.

  • Standardized learning    

Let’s say, someone wants to learn a new technology such as data science. A person located in China or India who takes a classroom session might not have access to the best-in-kind instructor. In such instances, eLearning provided by an expert and that which helps one to have access to standardized and more systematic learning will help eliminate the gap in learning. 

  • Flexible learning

The video recordings of the lessons made available online help one make up for the missed classroom lecture. Also, learners can always learn at their own pace if the eLearning module is not time-bound.   

  • Higher level of content retention 

If a course that is taught in the classroom is made available online and in the form of nicely-made short videos or easily understandable electronic documents, there is improved learning and hence a higher content retention level.  

  • Updates easily accessible

Access to any course update becomes easier through an e-learning platform than through books and hard copies.    

  • Additional help is always possible   

A student’s performance on a topic can easily be tracked and measured through an eLearning platform. Henceforth,  a student’s area of weakness can easily be strengthened within a shorter span of time.

How to Start an E-Learning Platform for Business?

Now that you have read the benefits of the eLearning program, let’s talk about how you could launch your own eLearning business, very briefly.  

  • Be clear about your objective 

The governments of the world know why they need defense equipment of several kinds. It’s the same here. You need to know what you wish to achieve by imparting eLearning on a specific subject.  

  • Prepare the eLearning content 

You should prepare the course content in tandem with the currently available tools and technologies so that it appeals to every naive or suave learner. You could think of uploading the course material in ebook format or short videos. Prepare at least one full course in advance to know about a student’s learning experience. You could always hire an instructional designer to help you design a tailor-made course.        

  • Evaluate the effectiveness of eLearning material 

Once you are done with creating and conducting one full eLearning course, you should remember to collect feedback from your staff and students. This will help you to improve upon your existing methodology.   

The functionality of eLearning Platforms

When it comes to enabling the right functionality for your eLearning platform, you need to design the platform keeping in mind your target audience. The following examples might serve your purpose.

  • Interactive Whiteboard 

Having a whiteboard allows you to create all important notes, do exercises during the online class, or share important concepts with examples quite easily. It allows for broader and interactive communication.  

  • Knowledge Base 

Create a repository of all basic information resources in a way that students can download the study materials and read them later, besides reading them online.   

  • Live Chat

An eLearning platform should always have a chat facility for the students to remain updated on any latest information on time and to have a discussion with other group members.   

  • Dashboard

This is a must if you are going to run more than one course at a single point in time as it helps a student easily access every section. A dashboard with a good user interface enables both teachers and students to track progress. 

Conclusion

Needless to say, there’s always more than one way of doing things and so is the case with any eLearning business. The information provided here should be enough to get you going in the right direction and to begin on a small scale. Above all, keep in mind that you could always hire a dedicated developer to build a customized eLearning platform for you.

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