Online Business Management course is a course that will equip participants with valuable entrepreneurial skills. It will improve their overall understanding of successful business management. Plus, it will teach students to set proper KPIs as well as apply various processes and systems to enhance the business’s effectiveness.
2023 promises the growing popularity of entrepreneurship instead of 9 to 5 jobs. So, offering Business Management Course will be of great value to your clients.
The following article covers:
Benefits of business management courses
The market of business management courses
Business management course challenges
10 steps to start online business management courses
Needed skills for business management courses
Benefits of business management courses
First and foremost, let’s review the Pros & Cons that course creators face when offering online business management courses.
- High & Growing demand for business management courses that benefits you in rams of scalability
- Improved knowledge & skills for the learners that they, later on, will be able to implement in practice. These lead to real-time results, thus positive reviews about your courses (high client satisfaction rate).
- Networking opportunities due to such courses being popular among B2B and B2C clients
- Cost-efficient in the creation & requires minimum investments. Yet, it is a great opportunity for passive income (if the course is pre-recorded, such as Udemy ones)
- Lots of business-related areas you can offer wholesome courses on, thus gaining more income potential
- Organizations benefit from such courses due to higher efficiency & productivity of employees. Plus, gain valuable insights into business process management that leads to success.
The market for business management courses
Let’s review the market.
More individuals seek to enhance their skills in the field of business management. So, market demand keeps growing.
Recent BLS statistics (US) predict 7% growth in demand for business management professionals. These professionals must be trained and well-equipped with industry-related knowledge. Here is when you understand how your demand as a business management course creator grows.
Also, average monthly searches for business management courses are from 10k to 100k.
Meanwhile, average monthly searches for online business management courses are from 1k to 10k.
Factors such as the growing job market, the flexibility of eLearning, dynamic & always-changing business landscape prove that the demand will keep growing.
According to the data presented below, advertisement costs also vary. Higher cost means higher competition & demand, and in the case of “Online Business Management Courses,” we can see that the ad cost is relatively higher than for “Business Management Courses.”
However, overall competition for keywords is medium, and the three-month change is at 0%. This plays to your advantage. With quite good ad costs, you will be able to reach your target audience with short-term paid marketing strategies.
Business management course creation challenges
Now, let’s review the main challenges you will face while creating a business management course.
One of the most challenging parts of course creation is to design an efficient & result-orientated curriculum.
Yet, keep in mind that a proper curriculum must:
- Present a list of course objectives & learning outcomes.
- Cover all the topics & sub-topics related to the area of management you decided to cover during the course.
- Consider and be designed according to the latest industry trends and changes
- Include & explain current business practices & real-time application of those.
Another challenge you will face is related to content development.
Developing good content to include in your course is vital yet time-consuming. As your course does not just consist of pre-recorded lectures. It must include PDFs, addition, readings, activities, quizzes, audio & video materials, etc.
Pro Tip. When developing content, include materials according to the curriculum & outline designed earlier.
Keeping Everything Up to Date
Creating course ones and selling them over and over again pounds heavenly. It is indeed possible, yet you must keep up with relevancy & industry trends. Thus, update courses at least once in 6 months.
Balancing Theory & Practice
A good course must also provide students with practical exercises. These will contribute to a higher knowledge retention rate. Also, it will allow students to apply knowledge to practice.
Yet, it can be hard to find a balance between theory and practice when creating a course. After you are done with content development, leave it for a day or two. Then, revisit it and, with a refreshed mind, revise to improve.
Can business management courses be online?
Business management courses can be online. Moreover, there is a growing popularity & demand for online courses.
With online business management courses, you will gain every advantage of offering such courses. Plus, Time & Location flexibility.
It is time to review the main responsibilities of the business management course creator.
- The ability to showcase and educate students on how to become better leaders
- Reviewing case studies & completing activities where business environments vary to teach them how management should vary depending on it
- Well-awareness of best negotiation practices to teach students negotiation
- Motivating students and educating them on how to motivate their employees
- Business Growth. As a creator, you also are, in a sense, responsible for participants’ business’s growth based on the skills, practices & methods you teach them.
10 steps to create online business management courses
Finally, it is time to review practical steps on how to create online business management courses.
Step 1 - Target Audience
Identify your target audience, and afterward, create ICP (ideal client persona). Then, based on ICP, create buyer personas.
These will help you to distribute efforts efficiently. So, you can work with different segments of your target audience to generate the most sales.
Step 2 - Conduct market Research
The next vital step is to conduct market research to get a bigger picture of the following:
- Current market demand
- Current trends
- Practices your target audience wants to learn
Data gathered from market research and identification of the target audience will willow you to:
- Create a value proposition canvas
- Position your product/service in the best possible light (the way that will interest your target buyer)
- Create a product that is on demand (e.g., some business management-related courses are more trending than others)
- Create a working marketing strategy
Step 3 - Decide on the Type
Business Management Courses can be related to different types & aspects of management. For instance:
- Strategic Management
- Financial Management
- Marketing Management
- Operations Management
- Human Resource Management
- Leadership and Motivation
- Project Management
- Risk Management
- Supply Chain Management
- Business Ethics and Corporate Social Responsibility
- Business Law and Regulations
- Business Communication
- Business Strategy and Planning
- Customer Relationship Management (CRM)
- Digital Marketing.
Conduct your research, and understand which type is on-demand and in which you are an expert to create a valuable course.
Step 4 - Create Outline & Develop Course Content
Finally, it is time to create a course outline and develop the content itself.
We already reviewed some tips in the challenges section. But here is a quick overview:
- Decide on goals & outcomes
- Include topics & activities that balance theory & practice based on goals
- Develop the content, including videos, e-books, podcasts, quizzes, etc.
- Revise & make improvements.
Step 5 - Create a Marketing Plan
Now, there are two main types of digital marketing - Paid & Organic Marketing.
Organic marketing is a tactic that allows you to gain visibility & awareness for free. Paid marketing is best for short-term results. (e.g., generating leads through landing pages). Meanwhile, organic marketing is great for long-term goals. It will allow to increase awareness and build loyalty, authority, and trust.
As a course curator, you will need a marketing budget & tactics for both.
Pro Tip: Use SEO strategies for best results & proper CTAs.
Step 6 - Price the Course
Research the type you offer, review prices your competitors offer and price your course.
Keep in mind that you do not want to offer the lowest price. Why? Because customers will think it offers low value. Yet, you do not want the course to be considered overpriced as well, especially when you are new to the industry.
When you are clear on your course topic, search for similar courses, review competitor pricing, and offer a slightly better one. E.g., the average market price is $150; you can price it at $139.
Step 7 - Choose Platform
It is time to choose a course creation platform. The software enables individuals or organizations to create, publish, and manage online courses.
The main features to look for in a good platform are:
- Drag & Drop website builder
- Course Builder
- Pre-made templates
- Live functionality
The right platform will allow you to automate lots of routine tasks and save a great deal of time. Examples of the best platforms on today’s market are Uteach, Thinkific, and Kajabi.
Step 8 - Set up your Website
After you have chosen the platform, set up the website & courses. Also, ,make sure to include your certifications if available. This will increase the trust factor toward you as a professional in the industry. Also, if you have past clients’ testimonials, display them on your website’s home or a separate page.
Step 9 - Start Sales
Finally, it is time to put into practice your marketing plan of yours & generate leads. E.g., through offering free educational PDFs for which they need to sign up on your website.
Afterward, put some effort into turning them into real-time paying clients. You can use various email marketing strategies and offer discounts to motivate potential buyers to make a purchase.
Step 10 - Feedback
Gather feedback, make improvements & grow.
Student feedback will allow you to gain a better idea of course performance & efficiency. Thus, take it and make improvements to your product.
Needed skills for business management course creation
Here are various hard & soft skills you need to create a successful business management course.
- Business Knowledge
- Knowledge of Marketing & Sales
- Content creation skills, including video shooting, editing, etc. (post-production)
- Instructional design
- Project management
- Be creative & innovative to stand out from the rest
- Communication & interpersonal skills
- Public speaking
FAQ about business management course creation
In this section, we will answer the most common questions about the business management course creation process to clarify things.
Can I create business management courses with minimum investments?
Yes, you can create a Business Management course with minimum investments.
All you need is a good camera (even a phone camera will do),microphone & editing software (many good ones are for free, e.g., CapCut).
Do I need certification to create business management courses?
No, there is no need for certification to create a business management course. All you need is industry expertise to provide good value.
How much does it cost to create business management courses?
Essentially if you have a camera or a phone, you need around $20 for a microphone and $39 to $150 for the course version platform (depending on the plan).
So, the cost of creation and start of sales with the platform varies between $60 to $200.
How much can I earn by selling business management courses?
Your earning potential depends on the course pricing strategy for the target audience and marketing knowledge.
Usually, a valuable course (with pre-recoded materials) costs around $80 to $200.
Monthly selling potential is anywhere near $1k to $10k, depending on how many sales you make. For instance, you can price a course at $120 and have a goal to make the first 50 sales during the first month. Thus, you will make $6000.
How long it takes to create an online business management course?
Time it will take to create an online business management course varies, depending on several factors, such as:
- Complexity of content
- Course format (pre-recorded videos, podcasts, etc.)
- Your experience.
As a first-time creator, you can get done with your course in 3 weeks. Dedicate the first week to creating a good outline, setting objectives & create content for the course. The second week can be dedicated to shooting & editing videos. The third and final week will allow you to put together a wholesome course, create a marketing strategy & start sales.
How to measure business management course effectiveness?
Effectiveness can be measured based on the following:
- Student feedback
- Number of satisfied clients
- Course completion rates
- Exam & Assessment results
- Student outcomes
- Number of sales made
How to get the first clients?
There are multiple successful strategies to get first clients. Let’s review some of them:
- Make discounts & limited offers.
- Organize free webinars (the best way to generate leads, who you can turn into paying clients later on)
- Use the power of social media & appropriate to your niche groups
- Create & SEO-optimize a blog on your website to improve brand awareness, and visibility to build trust
- Start referral marketing
- Utilize the power of email marketing & outreach
This topic is quite hard to cover in a few sentences. Thus, check out the 18 Great Ways To Get Coaching Clients In the Short & Long Term.
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