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Selling online courses doesn’t make you an entrepreneur

Okay, let's have a real talk for a moment. You've seen them on YouTube, right? Those so-called 'entrepreneurs' who are all about flashing their Lamborghinis and hanging out with hot girls. Some of them are just trying to sell you these get-rich-quick courses that, honestly, rarely ever work. But here's the thing, and it's something I feel strongly about: selling online courses? That doesn't automatically make you an entrepreneur. It makes you an online teacher. And there's a big difference between the two. Why do I think so? Well, let me break it down for you.

1. The Definition!

Why don't we take a moment to see what the dictionary has to say about the word 'entrepreneur'? I'm curious to see how it lines up with what we've been seeing.

Definition of entrepreneur

"A person who sets up a business or businesses, taking on financial risks in the hope of profit". Let's think about this for a second - where's the risk in all of this? Since when did setting up a website or using a $20 per month tool become a high-stakes gamble? You see, 'risk' is about so much more than just the possibility of losing money. It's about your reputation, about being accountable. It's about having people rely on you and the decisions you make. If your online course doesn't sell as expected, are you really in any danger? I mean, it's not like investors are lining up, risking their trust in you, right?

2. Can You Raise Money With Your Online Course?

Here's another angle to consider: imagine trying to raise funds for your online course. Picture this - you're standing in front of an investor, pitching your heart out about your online course idea. Do you think they'd be willing to open their wallets for you? Just like it's pretty rare for someone to invest in someone starting a YouTube channel, the odds of finding an investor for your online course might be slim.

Why, you ask? Well, it often boils down to the perceived risk versus reward. Online courses are a dime a dozen these days, and standing out in a crowded market can be a real challenge. Investors typically look for something innovative, scalable, and with a clear path to substantial returns. A personal online course might just not tick these boxes for them.

But, hold on a minute. I'm not saying it's impossible. In fact, there are probably a few go-getters out there who've successfully raised money to create an online course. They might have found that unique angle or tapped into a niche market that really resonated with an investor. It's just not the norm, you know?

I like the video Slidebean shared about Startup funding which goes deep into this topic of investments will share it down here:

3. Scalability and Impact

When we talk about entrepreneurship, two key concepts often come into play: scalability and impact. These are crucial elements that distinguish a true entrepreneurial venture from a small-scale operation.

Scalability refers to the ability of a business to grow significantly without being hampered by its structure or available resources. It's about the potential to multiply revenue with minimal incremental cost. For instance, a tech startup developing a new app has high scalability. Once the app is developed, it can be distributed to millions without a substantial increase in costs.

On the other hand, think about an online course. While it certainly has the potential to reach a wide audience, its scalability is often limited by the content's nature. Each course might cater to a specific niche, and the creator's capacity to update and manage the course can be a limiting factor. There’s also the challenge of continuously creating content that remains relevant and engaging in a rapidly changing digital landscape.

Then there’s Impact. This goes beyond financial gain; it's about the value or change your venture brings to the society or a specific industry. Entrepreneurs are often seen as visionaries who introduce new ways of thinking, disrupt traditional industries, or solve complex problems.

In the case of online courses, the impact can be significant in terms of educating and empowering individuals. However, it's usually on a smaller, more personal scale. While educational, these courses rarely disrupt an industry or create a substantial societal shift like a groundbreaking new technology or a revolutionary business model might.

In summary, while selling online courses can be a rewarding and profitable venture, it might not always meet the high bar set for scalability and impact in the traditional entrepreneurial sense. It's important to recognize these distinctions as we explore the vast and varied landscape of modern business ventures.

Conclusion

In wrapping this up, let’s be clear: selling online courses can definitely be a lucrative and meaningful pursuit. But let's not confuse it with the full spectrum of what it means to be an entrepreneur. True entrepreneurship? That's a whole different ball game. It's about blazing new trails, taking substantial risks, managing complex business operations, and creating something that not only lasts but grows and evolves. It's about having a vision that scales and impacts society or an industry in a significant way.

So, for all the online course creators out there, take a bow for what you've accomplished. It's no small feat. But also, let’s keep it real about where this fits in the grand scheme of entrepreneurship.

At the end of the day, these are just my thoughts. You do you. Call yourself whatever feels right. After all, what's in a name, right? What matters most is the passion and hard work you pour into whatever you do.

Siavash Delkhosh - CEO


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