Learn at Elonara Project Proposal

    Lonn Holiday

    Project Proposal Learn at Elonara

    Executive Summary

    The online self education market is booming.

    Current offerings for individuals to provide curriculum are cost prohibitive.

    Our business model of "we get paid when you get paid" is a unique and compelling solution.

    Background

    Right now, online education is showing unprecedented and suspiciously sustainable growth.

    The online platforms available for would be instructors seem to follow a cost per seat per month paid annually model. There is a serious problem with this.

    A standard sales funnel involves offering free valuable content to attract potential paying customers, then offering paid content.

    With a per seat per month paid annually model costs can become prohibitive very quickly. For example, with TalentLMS, the first bill would be for $720 and only allow up to 40 users. We'll see the first bill at 6 users. For 101 users paid annually the cost would be $249 a month or $2,988. To have a thousand members, we would pay $5,148. 

    My experience is as follows.

    I put two classes online. One free, one for $20. The free class is useful information, the paid class provides a certification.

    Within two months, I had 160 students signed onto the platform, fifty students enrolled in the free class, and 6 students paid. 160 users would make the price tag for the platform subscription nearly $3,000 with only $120 revenue to show for it.

    There must be a better way.

     

    Solution

    Build an online school that allows members to create branded space to offer their curriculum with no up front costs.

    Deliverables

    The main deliverable is an online Learning Management System people can create their own branded space on to offer educational resources with the following capabilities:

    • Branded space to offer classes.
    • Self registration.
    • Payment gateway.
    • Templates for classes.
    • Sufficient resources to create classes.
    • Two login choices. Student and Teacher. Teachers can create their own classes and companies. Teachers can take classes.

    Metrics

    Our experience suggests the following ratios.

    200 signed up members.

    50 members enrolled in free classes.

    10 members enrolled in paid classes.

    Required Resources

    For the moment, our resource needs are met for the platform. As we grow, we will need to expand and eventual change our hosting service. Probably one of our first moves will be to put our database in AWS/RDS or similar.

    Now or soon we will need one or more developers to fine tune everything, build any bits and pieces necessary so members can build their own classes, and a marketing team.

    Milestones

    Our test drive began in July of 2021.

    As of October 15th, our test drive had 165 members, 50 members enrolled in a class, and 6 members paid.

    Our prototype/poc is currently online.

    Migrate test drive members to permanent site which will result in a userbase of around 160.

    Migrate test curriculum to the permanent platform. This will result in either two classes or nearly a dozen.

    Build to 1,000 members by the end of the year.

     

    Budget


     

    Revenue

    existing

    projected

     
           

    signups

    250

    100,000

    1,000,000

    Enrolled in free classes

    20

    8,000

    80,000

    Enrolled in paid classes

    6

    2,400

    24,000

    Cost per class

     

    $20.00

    $20.00

    Gross

     

    $48,000.00

    $480,000.00

    15%

     

    $7,200.00

    $72,000.00


     

    Conclusion

    The online self education market is booming.

    Current offerings for individuals to provide curriculum are cost prohibitive.

    Our business model of "we get paid when you get paid" is a unique and compelling solution.




     

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