Online Learning Platform

[Dannydee]

Hi guys,

I've been trying to come up with a new online business idea, and I have this somewhat vague vision of creating an online learning platform, marketplace, or even a website with a blog etc.

You see, I like to study for fun, and I'm often engaged in a course of some sort. For instance, I started studying my 5th course in the last six weeks or so, two nights ago (the latest course is on Content Strategy, through LinkedIn Learning). Topics have varied, and being a psychology student (I graduated over two years ago but will always consider myself a psychology student) I'm very much intrigued, and even on occasion, mind-blown at human behaviour.

With learning being one of my favourite hobbies, alongside reading and listening to long form intellectual discussion and podcasts, I figure it's probably worthwhile trying to create a business from my interests. I just don't know exactly how to pull all this together to make something.

Ultimately, whilst I'm aware that I'm not Einstein, knowledge is my highest value.

The competition scares me a bit. We're talking the likes of Coursera, Skillshare, Udemy, Udacity, Masterclass, Online Learning Academy, amongst many more behemoths of this particular world. Although this quote popped up on LinkedIn this morning that gave me a small shred of hope "Don't compare your chapter 1 to someone else's chapter 50"

I have two failed online businesses behind me, so I'm not a total stranger to the likes of building a website and doing some promotion and stuff. Those businesses, I didn't really believe in and for that reason I didn't give them my all. However, I know for certain that if I'm able to carve out my own seat in the e-learning arena, I'd absolutely give it everything.

Another thing, I have this domain name, and it's pretty unique. There's no way for me to say this without sounding biased, but it's much more catchy than any of those mentioned above. It's two syllables, 10 letters, and the first time you seen it you would know right away it must have something to do with education, with the name sounding fun, and also a touch comedic. It's in the same ball park as Thinkific and Mind Dojo in terms of originality. I just know this name has huge potential to be in amongst these other guys.


So, I would be so grateful if anyone was able to assist me with some guidance or pointers on what I could create? Where I should be looking? What I should be doing?. Or am I barking up a tree that's just too tall?

 

[Darren_Ssc]

Or am I barking up a tree that's just too tall?

I think so. A passion for the subject and catchy domain name is not going to get you very far. Your passion will diminish fairly rapidly whilst you're not earning any money.

Why not just start a simple blog around the subject whilst you concentrate your efforts on finding something more profitable to do. Who knows, your blog may lead to something?

 

[Ozzy]

If you are going to be able to deliver on this yourself at very low cost whilst securing an income elsewhere then my advice is give it a go. You miss 100% of the shots you don't take, but you are going into a very crowded market dominated by some very well financed big players, so I wouldn't risk your mortgage on it but if you can try something low risk/low cost then give it a go.

"Don't compare your chapter 1 to someone else's chapter 50"

I would offer one word of caution over quotes like this though, who here remembers Google?
That ol' flash in the pan start-up that disappeared as soon as some competition turned up. Inspirational quotes are fine but don't base your important business decisions on them.

 

[Mark T Jones]

The answer to this almost certainly lies in finding a clear, concise niche and building from there

 

[NickGrogan]

I have this somewhat vague vision of creating an online learning platform

Why does the world need another platform, surely creating a course will be quicker, easier, better.

I have this domain name, and it's pretty unique

All domain names are unique, that's how they work.

There's no way for me to say this without sounding biased, but it's much more catchy than any of those mentioned above.

So what is it? If you own the domain already then there's no issue sharing it here.

It's in the same ball park as Thinkific and Mind Dojo in terms of originality

Those names aren't even slightly original.

I just know this name has huge potential to be in amongst these other guys.

No, it doesn't. Name a business that was successful due to its name, just one. There are lots of businesses with bad names, terrible names and great names, the name made no difference.

 

[mattk]

As you've identified, this is a very crowded market. You've also got the likes of Khan Academy and of course, even YouTube which is crammed with excellent (and some not so excellent) learning resources.

On top of this you have your enterprise LMS (Learning Management Systems) and LXP (Learning eXperience Platforms) such as Cornerstone, Skillsoft, Pearson and then of course LMS modules in all the main HR solutions, Workday, Oracle, SuccessFactors etc.

This doesn't mean there aren't opportunities. One downside of all this choice is that there's often too much choice. Let's say you work in Costa, but wanted a job in IT, where do you start? I've always thought there was an opportunity for someone (presumably the Govt.) to work with industry to develop "pathways" into careers. So for example, start by studying
Introduction to Computer Science from Harvard University, then a more specialised software or hardware course and so on. The Govt seem unable/incapable of doing this, so there is potentially an idea there, but I don't know how you could monetise it.

 

[Ozzy]

I've always thought there was an opportunity for someone (presumably the Govt.) to work with industry to develop "pathways" into careers.

This is supposed to be delivered by the LEP's (Local Enterprise Partnerships) which receive Government funding to support many aspects of business, part of which is employability.

 

[Dannydee]

Hi, thanks for the replies guys. I'm in work so I'll respond properly later.

The name in question is brainyshack and I have the .com and the .co.uk.

The second business I tried (or didn't really) was a copywriting business which is still technically sitting active but effectively unused. I didn't think I'd be a good enough writer so I didn't push myself enough. Still technically could make a go of that in fairness.

 

[Mark T Jones]

TBH you are focusing on the wrong things.

Think about your niche & your customers before yu even think about a name

 

[NickGrogan]

brainyshack

Brainy Shack?
Brainy's Hack?

Not a great domain.

 

[japancool]

As others have said, your name isn't going to win you customers. You could call it learntodoshit.com, and if you had great content, you'd make a go of it (although investors might balk at the name). OK, yeah, some names might put off customers.

So many people think having a domain name means having a business.

 

[IanSuth]

This is supposed to be delivered by the LEP's (Local Enterprise Partnerships) which receive Government funding to support many aspects of business, part of which is employability.

Yes the LEP's do this, in many places via their local partners, in Reading we have Reading CIC who work with Activate Learning (basically a bunch of the local colleges) and they run online courses tied to qualifications from the colleges - trying to wrest money out of the hands will be v.hard as it a bit of a cartel so you are looking at getting it from end users.

By definition unless you have a specific niche that isnt catered for by others you are competing with all the big boys and specifically those available for free from YouTube.

What area do you want to train people in and why are you an expert ?

Or do you instead mean you think you can be an aggregator/clearing house for online training, in which case what are you adding in value to make people go via your site, will you offer reviews, comparisons, references. How will you monetarise it, advertising or getting a cut for paid courses form the providers ?

 

[Mr D]

Hi guys,

I've been trying to come up with a new online business idea, and I have this somewhat vague vision of creating an online learning platform, marketplace, or even a website with a blog etc.

You see, I like to study for fun, and I'm often engaged in a course of some sort. For instance, I started studying my 5th course in the last six weeks or so, two nights ago (the latest course is on Content Strategy, through LinkedIn Learning). Topics have varied, and being a psychology student (I graduated over two years ago but will always consider myself a psychology student) I'm very much intrigued, and even on occasion, mind-blown at human behaviour.

With learning being one of my favourite hobbies, alongside reading and listening to long form intellectual discussion and podcasts, I figure it's probably worthwhile trying to create a business from my interests. I just don't know exactly how to pull all this together to make something.

Ultimately, whilst I'm aware that I'm not Einstein, knowledge is my highest value.

The competition scares me a bit. We're talking the likes of Coursera, Skillshare, Udemy, Udacity, Masterclass, Online Learning Academy, amongst many more behemoths of this particular world. Although this quote popped up on LinkedIn this morning that gave me a small shred of hope "Don't compare your chapter 1 to someone else's chapter 50"

I have two failed online businesses behind me, so I'm not a total stranger to the likes of building a website and doing some promotion and stuff. Those businesses, I didn't really believe in and for that reason I didn't give them my all. However, I know for certain that if I'm able to carve out my own seat in the e-learning arena, I'd absolutely give it everything.

Another thing, I have this domain name, and it's pretty unique. There's no way for me to say this without sounding biased, but it's much more catchy than any of those mentioned above. It's two syllables, 10 letters, and the first time you seen it you would know right away it must have something to do with education, with the name sounding fun, and also a touch comedic. It's in the same ball park as Thinkific and Mind Dojo in terms of originality. I just know this name has huge potential to be in amongst these other guys.


So, I would be so grateful if anyone was able to assist me with some guidance or pointers on what I could create? Where I should be looking? What I should be doing?. Or am I barking up a tree that's just too tall?

Many businesses start out by finding a gap in the market or figuring out what other businesses are doing wrong.
Or even copying something that has worked for someone else and making it better.

Do not figure out what you want and go from there - you are not your customer.
Figure out what you can supply and how that meets a need.

Name - you have. Not a great name but can work with it. The business makes the name great not the other way around.
Development can take considerable time for a business idea. Marketing is often expensive - the best idea in the world that no one knows of is useless as a business.
And more importantly, how to make money from the business.

Do not end up like some who have an amazing idea then after spending years on it - turns out to be a solution looking for a problem.

 

[Dannydee]

I think so. A passion for the subject and catchy domain name is not going to get you very far. Your passion will diminish fairly rapidly whilst you're not earning any money.

Why not just start a simple blog around the subject whilst you concentrate your efforts on finding something more profitable to do. Who knows, your blog may lead to something?

I think that could be one viable option. With the task of trying to compete with the behemoths, it would probably be best to find a unique angle or take on something and write regularly, maybe build a following and go from there.

 

[Dannydee]

If you are going to be able to deliver on this yourself at very low cost whilst securing an income elsewhere then my advice is give it a go. You miss 100% of the shots you don't take, but you are going into a very crowded market dominated by some very well financed big players, so I wouldn't risk your mortgage on it but if you can try something low risk/low cost then give it a go.

Yeah I can do exactly that. It doesn't have to cost much to begin with and is totally worth a shot.

 

[Dannydee]

The answer to this almost certainly lies in finding a clear, concise niche and building from there

Thank you, this is definitely making up part of my research.

 

[Dannydee]

As you've identified, this is a very crowded market. You've also got the likes of Khan Academy and of course, even YouTube which is crammed with excellent (and some not so excellent) learning resources.

On top of this you have your enterprise LMS (Learning Management Systems) and LXP (Learning eXperience Platforms) such as Cornerstone, Skillsoft, Pearson and then of course LMS modules in all the main HR solutions, Workday, Oracle, SuccessFactors etc.

This doesn't mean there aren't opportunities. One downside of all this choice is that there's often too much choice. Let's say you work in Costa, but wanted a job in IT, where do you start? I've always thought there was an opportunity for someone (presumably the Govt.) to work with industry to develop "pathways" into careers. So for example, start by studying
Introduction to Computer Science from Harvard University, then a more specialised software or hardware course and so on. The Govt seem unable/incapable of doing this, so there is potentially an idea there, but I don't know how you could monetise it.

Yes, this is why my research scares me. It's a monumental task to try and compete with those guys, not to mention, I don't have the million dollars it would probably need to do so.

Pathways into careers sounds interesting. I've personally made a major career turnaround just like your example, where I used to spend my life working in production and engineering factories, when I decided I wanted to work in an office. It wasn't easy, coming from somewhere with little to no qualifications (at the time).

 

[Dannydee]

Brainy Shack?
Brainy's Hack?

Not a great domain.

Brainyshack, all one word. It's a play on words. Like, in the shack you'll find intellectual sh*t.

Thanks for the feedback though. Perhaps I am biased. I could still see it being the name of an educational app or something.

 

[Dannydee]

By definition unless you have a specific niche that isnt catered for by others you are competing with all the big boys and specifically those available for free from YouTube.

What area do you want to train people in and why are you an expert ?

I'm not entirely sure of that. Right now it's a pretty broad and open idea.

Or do you instead mean you think you can be an aggregator/clearing house for online training, in which case what are you adding in value to make people go via your site, will you offer reviews, comparisons, references. How will you monetarise it, advertising or getting a cut for paid courses form the providers ?

A marketplace is also something I was considering, but like you said, there are VERY big players in this world, and I imagine I'd need a shed load of money to compete.

But yes, ultimately, being an affiliate for selling others courses, that would be the plan (or something like that).

 

[Dannydee]

Many businesses start out by finding a gap in the market or figuring out what other businesses are doing wrong.
Or even copying something that has worked for someone else and making it better.

Do not figure out what you want and go from there - you are not your customer.
Figure out what you can supply and how that meets a need.

Name - you have. Not a great name but can work with it. The business makes the name great not the other way around.
Development can take considerable time for a business idea. Marketing is often expensive - the best idea in the world that no one knows of is useless as a business.
And more importantly, how to make money from the business.

Do not end up like some who have an amazing idea then after spending years on it - turns out to be a solution looking for a problem.

This is solid. Thanks.

I've been doing research but as I'm sure everyone here knows, you can get bogged down to the point you're just passively looking at websites with no focus. But now I know what to try and look for (although that still might not be easy).

 

[mattk]

Pathways into careers sounds interesting. I've personally made a major career turnaround just like your example, where I used to spend my life working in production and engineering factories, when I decided I wanted to work in an office. It wasn't easy, coming from somewhere with little to no qualifications (at the time).

Did you do it using free online courses? Did you have a mentor?

I think there is a gap in the market for a mentor led syllabus which will guide people who would otherwise not know where to start gaining career changing skills.

Again, the challenge is monetising the idea.

 

[Dannydee]

Did you do it using free online courses? Did you have a mentor?

Honestly, whilst I did make a career change, one of the reasons I found it difficult to get into an office job was that I was unemployed at the time. I had lost my last job due to having been allowed to get away with being late and missing days for too long. My fault, but their fault too.

Anyway, during the time I was unemployed and trying to find work again, I started getting educated, literally. I never got sh*t at school. The first course I ever done was one I was pushed into, but by the time it was over I had signed up for 4 more courses. One of those was a level 2 business course, which I didn't only pass but was informed that the examiners had no choice but to award myself and one other student with level 3 because our work exceeded level 2 standards.

As you can imagine, this gave me major confidence boost, and I immediately set about creating a business plan. However, let's just say I wasn't in a very good place at the time and ended up taking a darker path (drugs) and business was off the agenda for quite a few years. That's no longer a problem though, and the main point I'm making is that ever since I excelled in that initial business course in 2009, I've always had this itch to be in business and run my own show.

I think there is a gap in the market for a mentor led syllabus which will guide people who would otherwise not know where to start gaining career changing skills.

Again, the challenge is monetising the idea.

That's a good idea, thanks. I will look at that.

Whilst studying content strategy this evening and doing research during the lectures, I had a minor epiphany..

With the task of competing with the behemoths being monumental to the point of impossibility without a million dollars in the bank, I have this idea now of simply creating a blog or similar website, which also hosts a forum / discussion board. I would probably find that more enjoyable than being a very small fish in an enormous ocean of educational platforms. Creating posts and networking trying to grow a following and / or contributors would be low cost, fun for me - given that this kind of thing is already my hobby - and ultimately worth a punt. I even now think the domain name is probably more suited to something like this.

Are there any thoughts on forums or blogs, or a combination of both? Can they be monetised? Or are most forums just a hobby? (obviously people have monetised and still do but is it a very long game?).

 

[japancool]

Are there any thoughts on forums or blogs, or a combination of both? Can they be monetised? Or are most forums just a hobby? (obviously people have monetised and still do but is it a very long game?).

*looks at UKBF* Hmm....

 

[Dannydee]

*looks at UKBF* Hmm....

Haha, thanks for highlighting what a silly question this must have sounded.

Asking if building a forum is worthwhile, on a successful forum *facepalm emoji*

 

[fisicx]

I'm not clear as to what you want to do.

Are you planning on writing and delivering the courses yourself or just being a repository for courses?

Either way, the cost is not setting up the website, it's going to be marketing. Unless people know you exist and your courses ad value then it will all be wasted effort. Spend £100K on marketing and you might stand a chance of getting noticed.

And I saw brainy's hack not brainy shack. Either way, they don't suggest a leaning platform.

 

[Darren_Ssc]

Asking if building a forum is worthwhile, on a successful forum *facepalm emoji*

The best forums tend not to be money making exercises although there are exceptions such as Reddit
https://www.investopedia.com/articles/investing/093015/how-reddit-makes-money.asp

 

[IanSuth]

I think the only real chance of it making money will be getting it big enough you can charge training course providers a commission on booking gained through it and that is a very long long game.

As a hobby great, but just ask Oz, you will likely be looking at a cost not a side hustle for a long time

 

[mattk]

I think the only real chance of it making money will be getting it big enough you can charge training course providers a commission on booking gained through it and that is a very long long game.

There are four ways to make money:

Charging content creators - this IMO is the hardest, as they already have vast platforms like coursera and EdX, whereas you are likely to drive a fraction of the traffic they already receive.

Charge students - going back to my mentoring suggestion and linking the fees to salary increases, I think this one is has the most potential. Say 10% of salary secured over £25k for three years.

Charging employers - companies pay millions to recruitment agencies as finding skilled resources is a real headache. Having a conveyor belt of candidates with a base skill/knowledge level could be worth something to these companies.

Grants/handouts from Govt.

 

[Dannydee]

Are you planning on writing and delivering the courses yourself or just being a repository for courses?

Either way, the cost is not setting up the website, it's going to be marketing. Unless people know you exist and your courses ad value then it will all be wasted effort. Spend £100K on marketing and you might stand a chance of getting noticed.

And I saw brainy's hack not brainy shack. Either way, they don't suggest a leaning platform.

Yea in my thinking it would have been a marketplace. However, my guess is I'd need a million quid to even start to compete with the big dawgs.

I think the name BrainyShack (I hope it works better with a capital S) is more suited to a blog type content website that perhaps includes a forum.

 

[Dannydee]

The best forums tend not to be money making exercises although there are exceptions such as Reddit
https://www.investopedia.com/articles/investing/093015/how-reddit-makes-money.asp

I think the only real chance of it making money will be getting it big enough you can charge training course providers a commission on booking gained through it and that is a very long long game.

As a hobby great, but just ask Oz, you will likely be looking at a cost not a side hustle for a long time

The big dawgs like Reddit, whilst monumentally huge to the point of it being an almost impossibility to compete with, inspiration can be taken from them.

I think my best bet will probably be to start the blog and forum as a hobby and just see what happens. Of course, it will require significant attention, and I've already spent the day doing research and making a plan. I've decided to adopt the rule from Dr Jordan Peterson's new book..

"Focus as hard as you possibly can on one thing, and see what happens"

I don't have any better ideas, and I'd quite enjoy this. If nothing else, it would provide me with experience that can be used to my advantage in career development and/or attaining a new job in an associated field.

 

[Dannydee]

There are four ways to make money:

Charging content creators - this IMO is the hardest, as they already have vast platforms like coursera and EdX, whereas you are likely to drive a fraction of the traffic they already receive.

Charge students - going back to my mentoring suggestion and linking the fees to salary increases, I think this one is has the most potential. Say 10% of salary secured over £25k for three years.

Charging employers - companies pay millions to recruitment agencies as finding skilled resources is a real headache. Having a conveyor belt of candidates with a base skill/knowledge level could be worth something to these companies.

Grants/handouts from Govt.

Thank you I shall be keeping these in mind (they've actually been copied into their own section of my Evernote project plan)

 

[discocill]

Even starting a blog on the subject isn't an easy thing I'd say. After all, it's about delivering knowledge. So, I'd start with it and only after some success I'd go for a full-fledged learning platform

 

[AllUpHere]

This is an interesting thread; I'm actually working on a similar project.
In my opinion, there's no need to compete with the big boys, you just need to go really niche.
I have a unique skill set, and plan to capitalise on it.
You need to find a marketing opportunity and work backwards.