Build Your Online Business on a Learning Management System (LMS)

Sep 8, 2024 | Uncategorized | 0 comments

Build Your Online Business on the Learning Management System

One of the most common questions I get asked by people who are interested in starting an online business is, How can I build my business on a Learning Management System? Here’s the answer. If you’re planning to start your online business, building it on the Learning Management System has some advantages over building it from scratch or using WordPress. Let’s look at the details of why this might be a good choice and what you need to do in order to do it correctly.

What is a Learning Management System?

A learning management system (LMS) is a digital platform or software that allows you to create, deliver and track training. An LMS may include features like collaboration tools, reporting, e-commerce and certifications. While every company needs a way to train its employees, choosing an LMS is about more than finding a cool online tool—it’s about finding one that helps your business succeed by aligning with your business strategy. There are plenty of considerations when it comes to choosing an LMS for your company, including cost and compatibility with existing systems and processes. Use these tips for choosing an LMS for your business

Why Use An LMS?

One of the key benefits of online learning is that students can access courses anytime, anywhere. While an LMS may seem costly, it’s a valuable long-term investment for building a successful business. Here’s why: 24/7 Course Access — An LMS allows students to log in from any internet-enabled device, anytime. This flexibility ensures they can start learning whenever it suits them.

Who Can Use an LMS?

Not everyone needs a learning management system. For a small business with one or two employees, an LMS may be unnecessary. However, with more than five employees, it could be worth considering. That said, if your team already uses tools like Slack or Google Docs effectively, an LMS might not add value and could create confusion. Carefully assess whether your team would genuinely benefit from an LMS before investing, as costs can add up quickly.

Adding The Course Section

The main difference between adding a course to WordPress and creating it in your LMS is that WordPress offers one-click updates. For example, with a tool like Clever, any changes made in your account are instantly available in WordPress. In contrast, platforms like Moodle or Blackboard require you to manually update your website with any LMS changes. Additionally, consider how your courses relate to one another—whether they’re sequential or standalone but share similar audiences. Defining this structure helps increase traffic and engagement.

Adding The Instructor Section

An instructor role is a great way to build an online business. Instructors have their own accounts and are added to the classes they teach. With just an email list and social media presence, you can get invited to teach an online course, though prior experience teaching in person or via video conferencing is helpful. There are many learning management systems (LMS) for various niches, from coding to cooking. Once you find one that fits your niche, reach out to potential students through social media to share your plans. The best part about LMS platforms is that instructors get paid regardless of student attendance!

Tracking Progress

As we all know, you can’t improve what you don’t measure. In order to create a successful online business, it is imperative that you keep track of your progress. You will want to establish metrics for your site’s performance including time spent on page, pages viewed per visit and visitor bounce rate. Google Analytics is a free tool that you can use to track these important statistics and will help you gauge how effective your strategy is over time.

Adding The Marketplace Module

Sales are a key component of any business plan, but they can be tricky to get right. You’re probably not a salesperson by nature—but that doesn’t mean you can’t start making money in your sleep. Before you launch an online business, make sure you have a way to convert your ideas into sales. One of the easiest ways to do so is by adding marketplace functionality to your learning management system (LMS). With it, users can submit products and services that match their skill sets and experiences, then charge for those items through online check-out systems similar to those used in ecommerce stores like Amazon or Zappos.

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Written By Darlo Higher Education

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