Passive income is a great way to create a second source of income. It's the closest you can get to financial freedom, in my opinion. So to make money with a Udemy course and enjoy that passive income.
You have probably heard about creating an online business that can generate passive income or setting up your blog and monetizing it from day one. In my journey, I found out that these techniques are good, but they're not enough. In my opinion, creating a passive income with a Udemy course is the best way to do so, and I'm going to tell you why and how.
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Make Money With A Udemy Course
First of all, let me explain what “passive income” means:
Passive income – is money that gets paid to you regularly without doing anything extra to get it. It's great because it allows you to make money while you sleep, relax or play. For example: if you create a website that gets 10,000 page views per month and you monetize your site from day one, it means that you're going to make money every month without having to do anything else.
Why Generate Passive Income By Creating A Udemy Course
Like most other passive income methods, there is substantial work involved in the initial creation of a Udemy course. However, the final goal is to have something that generates income for you without any additional work.
Udemy is the online platform that will sell your online course. All of the work is of selling and collecting payment and sending you your money, Udemy does.
What Does Udemy Pay
I have been a Udemy instructor for over two years now, and I currently have three courses published on their website, each of which generates an average of $8,000 per year. That may not sound like much for some people, but it is pretty good money.
Although the money is good, there are several students I have interacted with and the feeling that I am doing something good for people.
The secret of making money with Udemy is not in teaching online courses but about understanding that there is no such thing as “teaching”; there is only “communicating.” Teaching is just communicating your experience to another. Teaching is not a canonical job; it's just that people do not understand this and instead think we need special knowledge or expertise to teach others. It would help if you discarded this self-limiting belief, and the secret of teaching is to communicate clearly and precisely.
Udemy does not care if you know how to teach because their courses are for amateurs who want to learn something new or upgrade their skills. Udemy courses help the users update their knowledge, allowing them to perform better in their jobs or personal lives.
Whenever you are in front of an audience, you teach even if they are only one person. There is no magic behind this. As an Udemy instructor, your job is to know how to communicate with people and make them understand something that may be difficult for them.
Before You Start: Udemy Requirements
To publish a course on their website, Udemy requires that you have at least one of the following: an active LinkedIn profile, Facebook page, blog, or website with a minimum number of followers or subscribers. Meeting the Udemy requirements is not a particularly onerous requirement for anyone to accomplish. Still, it may be challenging to create your profile if you do not have any of the above.
Since Udemy courses are video-based, good fluency in the English language is required, so you should take this into account before even trying to publish anything on there.
Creating Your Course
Creating a Udemy course is easy, and anyone with access to the Internet can do it. Furthermore, Udemy does not ask for or require special knowledge of any experience as an instructor.
Thousands of people have started teaching online courses on Udemy, some successfully due to their abilities and others because they saw how much money you could make teaching on Udemy.
Before we go any further, though, if not interested in the process, you can watch a video to enroll in a free training series with Udemy. This training will provide you with an outlook on what it takes to create one of these courses.
Step 1. Determine your topic. It should be something in which you are knowledgeable and passionate.
Step 2. Plan your content. What is the learning objective for the student?
Step 3. Set up recording equipment.
Step 4. Record your course—30 minutes minimum and in high definition.
Step 5. Publish to Udemy.
To make money with a Udemy course will require some work upfront, but the benefits can be life-changing. If you look at things you have done in your life, I think most everyone can have valuable insights that you can put into a course format. Others that are looking to learn about that subject will happily pay for your helpful knowledge. There are just so many ways of using your knowledge and passion for earning money online, and Udemy is one of the better ways.