Case In Point: A New, Profitable Way To Share Your Knowledge

Interview in Business Essentials Ezine
September 20, 2002

Every good marketer is always looking for new and profitable ways to create residual streams of income. Viki Nygaard of Mount Evans Designs has discovered one such way. Let's eavesdrop on our conversation to find out how you can share your knowledge in a new, innovative way and earn a profit from two sources at once!

KARON: Hi Viki! Thanks for taking a few minutes to tell us about your endeavors.

VIKI: Sure, Karon! Always a pleasure!

KARON: Tell us what you're doing in the "knowledge" arena that's bringing you success.

VIKI: I'm teaching online courses at a virtual school called LVS Online.

KARON: "Virtual" courses? How so?

VIKI: I create lesson plans, and send them to students (one per week) to complete. They then post their lesson assignments online for me to review, correct and critique. Everything I need to hold the classes is provided by LVS Online.

KARON: Sounds interesting! Tell us a little more... like... does it cost anything to teach virtual classes?

VIKI: In my case, it doesn't cost me any money up front. However, the school does keep a percentage of the profits. Of course, time is money and it does take a lot of time to actually write the lessons and also to communicate with the students, in both answering questions and critiquing homework.

KARON: So all your "expense" is in time?

VIKI: Right.

KARON: You mentioned there are two streams of income that you get from teaching. One is obviously what you're paid for each student who signs up. What's the other?

VIKI: Backend sales of products or services I introduce to my students.

KARON: Ahhh! So LVS allows you to sell to your students?

VIKI: ONLY if it's applicable to the class.

KARON: How much money can be made from the classes, Viki?

VIKI: Well, it depends on the number of students and a couple of other factors, but you could easily get between $500 to $1,000 per 6-week class session.

KARON: Really! Just from the classes? Great! And what are the qualifications for teaching virtual classes?

VIKI: I never had any prior experience before I started teaching. However, I have a high level of expertise as a Web site designer who specializes in search engine optimization designs. I am also highly computer/Internet literate, which is very important in teaching online classes. What I did was I wrote a few lessons and sent them to the owner of LVS to review. She felt that they were very well done and spoke to the students at a level they could learn at. I was invited to teach!

KARON: Super! So as long as you have expertise in your field, and can communicate well in writing, you're likely to be accepted at LVS *if* they have an opening?

VIKI: It's very possible.

KARON: Now, let me ask you this. How do you introduce additional products/services to your students?

VIKI: I recommend additional products and services that compliment what I'm teaching in the lessons. I only recommend products that I own or services that I personally use or have used in the past and feel will truly benefit the students. I would never feel comfortable just shouting about every affiliate program on the 'Net in order to make a few extra bucks. In the final lesson, I provide the students with a checklist that outlines all the resources that I have recommended throughout the course.

KARON: And how receptive are they?

VIKI: Those who are really serious about learning and wanting to take their skills to a higher level are the ones who are most receptive. They will often ask a few questions about the product/service, which gives me the opportunity to "sell" it to them by stating the benefits again.

KARON: And does it work? What's your conversion ratio?

VIKI: Yes, it works well! I average about 10%.

KARON: Excellent! So - rather like ebooks, you get the opportunity to write one set of lesson plans, teach someone new skills, get paid for the class itself, and benefit from backend sales of appropriate affiliate programs. Sounds great!

VIKI: I love it! It's a fun way to get to know people and make some additional cash from two sources at once.

KARON: Thanks for the unique insight, Viki. I really appreciate you giving us the ins and outs of virtual classes.

VIKI: Glad to do it!