Now is a good time to invest in online business. Even with the pandemic restrictions lifted, demand for online services is still increasing. For example, in demand for online education. With multiple online platforms available, a startup has to identify which will best suit the specifications of its services.
About the Reviewer:
Jakub Babkins, business plan developer at OGS Capital, explores new opportunities and challenges for small and middle businesses. With over ten years of experience in business planning, Jakub has an extensive portfolio of successfully implemented business plans.
Identifying the scope of services for your business
Start planning your business by choosing a point of focus. Your E-learning business plan can forecast diversification over time. For example, offering only English language courses at first and over time adding new languages or expanding into IT courses. If you plan on offering a wide range of services from the start, you will need a marketing strategy to reach a broad target audience.
For more information: www.ogscapital.com/article/e-learning-business-plan/
Choosing a platform
Businesses in online education have a variety of online platforms to choose from. To name a few: Zoom, Google Meet and other Google services, YouTube. Explore and compare available e-learning platforms. Look into which platforms your competitors are using. This way you will find a platform that best meets the needs of your business.
Consider using a well known platform which your target audience already uses. A user is more likely to sign up to something they’ve already had experience with. Technology can be tricky. If your target audience is less tech savvy, some might experience difficulties.
Pinpointing your target audience
A target audience is a factor that has influence on everything. From the marketing strategy to sales. When planning your business always keep in mind your target audience. Key for success is knowing who your customer is, what they eat, how much they earn, and what they need from you. It is basically any group of people that is specific enough to constitute a target audience. A potential customer of an e-learning platform could be described:
- By age: young children; teenagers; students;
- By occupation: stay at home mothers, seniors;
- As a professional looking to improve existing skills or to learn new ones;
- As individuals who want to indulge in a hobby;
- As businesses offering training for their employees.
A business consultant can help you narrow down your audience and identify its needs.
Conclusion
Turning to a profession to write your business plan is a smart move to avoid mistakes. As a startup, you might not have sufficient access to industry insights. Weighting the pros and cons of different online platforms will help you choose a most fitting one for your business. Understanding the needs of your potential customer can help you narrow down the focus for your services.
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Published on The Digital Insider at https://thedigitalinsider.com/choosing-business-focus-for-an-e-learning-startup-technology-org/.
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