So this brings up the fact that we cant’ really price our course until we know how much teachers cost.
Online courses pay their teachers in different ways. Some pay a flat fee / course, others pay a fee based on the number of students enrolled inthe course. Some even pay based on teh number students who complete the course.
But I’m going to recomend a different way. What I’m about to recomend allows even course vendors who haven’t even sold one enrollment yet to start the hiring proces. So you’re probably wondring how can afford them before you even have one enrollment. Well you pay them based on teaching and grading activities they complete.
Let me explain this in more detail. Essentially what you want to do is hire teachers as contractors who are paid a rate based on the activity they complete.
So let’s take our game course again for example. Lets say you have two interactive elements that require a teacher’s precent. 2 Live lectures that run for 2 hours each and a 4 assignments in a grading center.
Let’s say the live lectures are 2 hours long. And let’s say we estimate that each assignment will take 1 hour to grade. So now we need to decide what we think a fair hourly rate is. We’re going to talk about incentivizing teachers in a moment through scaled payments based on performance… but for now let’s just say we’ll pay $30 / hour for our teacher. This is just a hypothetical number. You could pay $10 you could pay $1000 / hour. Hourly rates depend on so many factors. But let’s just say $30 for simplfies sake.
So if we do the math the live lectures work out to be $60 each or $120 for both. If a student submits all of their 4 assignments that works out to $120 as well. So already we have a total teaching cost / student of $240. So let’s say we increase the price of our course to $500. When this student enrolls you’ll get the $500 right away.
But maybe they dont’ submit their first assignment until 30 days from now. The way we have our clients sites set up on academy of mine is that our clietns teachers are sent email notifications when students upload new work. So the teacher who is only working on a / need basis can login and grade the student work. Which will earn them $30 for the hour it will take them to grade to the assignment.
So you can even hire teachers before you have any work to give them. Most teachers will actually like the flexibility and set up. They can do it part time and it won’t interfere with their current work schedule. As you continue to grow more students will submit their work and your teacher will become busier. But their pay will be directly proportional to their busyness.
This is a scalable and a sustainable way to grow an online coruse. And rooted heavily in an idea of fhairness for everyone. You’re teachers need to feel like you’re respectign their time and expetise.