-Develope A SideHustle Mentality
The exploding market for online courses is a lucrative opportunity for passive income. If you’ve got a skillset that you think is marketable, and the ability to communicate it effectively to others, this avenue could be perfect for you.
What is it? Skillshare and Udemy are online platforms designed to empower people with certain skills to share those skills with those looking to learn them. They provide an opportunity for creators to produce and upload courses that can range from video-centric to more test-heavy options, depending on your personal production skills.
The courses can then be priced, sold, rated, and shared. Successful courses on Udemy or Skillshare can rake in thousands of dollars, all by leveraging skills that their creators already have.
Who is it for? First and foremost, you’ll obviously need a marketable skill to teach. But you’d be surprised at the wide variety of courses that do well on Udemy. There are dozens of categories and subcategories, so you’re sure to find a niche that perfectly suits your own perfectly set of marketable skills.
But you’ll need something more than skills—you’ll need to be a skilled communicator to help people benefit from what you have to say. If you can hold your own in front of a video camera and communicate what you know with clarity, you’ll do well.
How does it pay? This is a difficult number to pin down, as Udemy and Skillshare earnings can range from a couple hundred dollars per year to tens of thousands each month. It all comes down to how well your course performs.
There are things you can do to increase your chances. Uploading some of your videos to YouTube and linking them back to your course, or using other marketing channels to promote your course.
Other Udemy newbies will often offer their courses for free at first to drive traffic and get ratings, before switching to a payed model once they have a bit of a reputation on the site.
As for Skillshare, the site works on a royalty system that determines how much you earn based on how many total minutes of your classes are watched.
The site says that first-time teachers tend to earn around $200(R 1850) in their first month, while established teachers can earn as much as $3,000 (R55 500) per month.
We recommend uploading your course to both Udemy and Skillshare to get the most possible traffic.
- Potential for significant earnings
- Uses skills you already have
- No start-up costs
- Can take some time to build reputation
- Big initial time investment of planning, filming, and editing courses
- Organic revenue is split 50/50 with Udemy.
- On Skillshare, royalties are shared among the all teachers—higher view rates lead to higher earnings.
How to Get Started First you’ll want to begin taking notes on which of your skills might be the most marketable. Head to Udemy or Skillshare to see which types of courses are doing well, or which ones have gaps that you could fill.
Summary Udemy and Skillshare offer excellent opportunities to turn your skills and teaching abilities into cash. If you’re willing to put in the initial setup work, it could turn into a lucractive source of passive income.
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