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Monday, December 14, 2009

The Secrets to a Profitable E-learning Business

Like many aspiring entrepreneurs, I have my eye on one very important aspect of business and that is profit generation. Eventually, I joined the bandwagon of e-learning mostly because of its profitability, especially with the dawn of the internet/digital era. However, like many before me, I discovered that the unique e-learning market did not ensure instant success and riches. But there are those who reap financial benefits from it.

elearning software solutions

How did they do it? I know for a fact that it wasn’t enough that it’s an ingenious idea and a great service product. Neither was it enough that it’s a popular innovation. And so, I did a bit of research online to find out their secrets to success.

http://www.powerpapers.com/images/photos/distance_learning.jpg

Their secrets, as it turns out, focuses on customer satisfaction, trends in online culture, emerging revenue models and pioneering approaches. According to these successful businesses, there are some areas that can be explored in order to guarantee profits in e-learning. Ten of the numerous examples are: (1) become known and broaden contacts by offering a free product or service and building a reputation of competence and consistency; (2) provide consultation to potential businesses by achieving e-learning specialization. Some potential ways to do this is by implementing standards in e-learning, as well as ideal design models and so on; (3) develop useful software that penetrates the market through service solutions; (4) offer e-learning web development and customization that entails creativity, and finding an appropriate market; (5) develop affordable template games that support content mastery for every level and situation; (6) create relevant, quality content that covers media development areas such as videos, animations, graphics, creative and technical writing, simulations and games; (7) create a forum or association that offers free services for simple tasks, and a certain price for advanced ones. This can also generate revenue with membership fees or publication subscriptions; (8) offer “off-the-shelf” course content packages by building a course library; (9) create an advertising portal. In order to draw in advertisers, website traffic must be significant and; (10) provide content and translation management services that can assist organizations with content transition.

elearning tools

These are only some examples of the different ways a business can thrive and earn in E-learning. It is important to keep in mind that a business success is highly dependent on creativity, innovation, user awareness, consistency, and marketing.

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