Creator Economy Boom: New Age Millionaires Create And Sell Online Courses To Build A Fortune

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It was only after Priyaram spent a lot of time and money learning from internationally renowned coaches and also read several books on the subject, did he master the nuances of investing in stocks profitably.

So when the pandemic hit and millions lost their income sources, Priyaram set out on the mission to help people to get back on their feet. The idea was to share his knowledge affordably so that people could learn how to safely invest and adapt to the ever-changing stock markets. But traditional offline learning setups have limited reach and are usually time-consuming to implement and expensive. It was then that Priyaram decided to create online courses on the subject to ensure he was able to reach out to the largest audience possible and create a massive impact. That led to the launch of his online academy called srimantha .in, an online academy launched with Knorish, an all-in-one online course platform that creators just like him use to quickly create and sell online courses, webinars and memberships.

In just four short months since launch, today, Priyaram and his team boast of having successfully educated thousands and as a result, have earned more than INR 1 crore in course sales. And this was achieved with absolutely zero spending on advertisements and purely through word of mouth publicity and educational Youtube videos.

Priyaram's success story is just one in tens of thousands. Several studies show that post the pandemic, more than 29% of graduate students in the US would rather become content creators. Reports also show that more than 50 million creators around the world are part of the growing creator economy.

In order to launch courses, there are primarily two main roadblocks most creators face. One, creating the content needed for those courses which used to be very challenging, and second, the technology to build such a business was cumbersome and complicated. For content, most creators today simply use their smartphone as the camera, a tripod and Zoom to conduct live sessions or record their instructional content. So what used to take months, today gets done in a matter of hours with this strategy.

Now when it comes to setting up the technology stack for all the tools needed for the online coaching business, one needs to build a website, connect LMS, set up payment collection tools, chat, notifications, reminders and a lot more. This is where new-age tools such as Knorish have simplified the process with an all-in-one online platform. As per the recent report published by Knorish, in less than 2 years, more than 30,000 creators have launched their online academy websites and mobile apps using the platform and are selling courses and webinars. What has enabled this growth is that they are backed by a platform that has been specifically designed for people who are not coders, or developers, don't have any technical skills and yet are able to do this without hiring any teams.

Today, anyone with just a laptop, skill and access to the internet can now make money online by selling online courses. The industry is still in its early days where early adopters stand to gain by building their thought leadership in the domain. With minimal costs and risks, online coaching businesses are fast becoming a source of massive income for those early adopters.