Online community based organizations are those online platforms that use a community based approach to sell their products and services. The biggest application of this business model is in the education sector. From tech courses to growth hacking and interior designing courses, you’ll find a community based organization for every type of profession. In this blog, we are going to focus on its application for the education section.
So, tell us one thing:
Have you ever found yourself looking for a platform through which you can educate others from the comfort of your home while providing them with an offline class-like experience?
If you said yes to that question, then let us tell you that your search for that platform ends today!
In this blog, we’re going to tell you:
- What Is An Online Community Based Organization?
- What Are The Benefits Of This Business Model?
- How Are Startups Embracing This Concept?
- Key Takeaways
Also, if you’re in search of a platform where you can build and grow your community based organization to make a difference in others’ lives, then check out LikeMinds now!
What Is An Online Community Based Educational Organization?
There are online educational organizations that follow a ‘community based’ approach for teaching their students. The primary educational model for these educational organizations is the ‘cohort based’ teaching approach. In this type of educational approach, a group of people is enrolled at the same time and they complete the course together. As a result of which they graduate from that course at the same time as well.
This group of people is considered a community and the organizations run on a community based business model. These online community based organizations educate students through a variety of live and non-live online sessions, providing the participants the option to interact in real-time, just like offline classes. Live and non-live sessions are used for learning formats like coaching, asking questions, discussions, etc.
These online community based organizations tap the working professional audience who wants to upskill themselves without having to quit their jobs. Educational organizations like these, design their courses to solve challenges faced by professionals in massive open online courses. These educational organizations also ensure to have the time-bound element from the offline classes in their business model.
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What Are The Benefits Of This Business Model?
There are several benefits of this business model, from a high course completion rate to millions of dollars in revenue. All that an entrepreneur needs to know is the real benefits of this business model to start creating a community based organization of their own. So let’s have a look at some of these benefits:
1. Millions In Revenue: By including effective live and non-live online education strategies like virtual and in-person events for students, one can generate millions in revenue. This is because these online community based education strategies have higher retention and course completion rates as compared to offline and MOOC educational strategies.
2. Sustainability: Online community based organizations promote egalitarianism by being accessible to all and lower priced. Working professionals who cannot afford to go to a B-school can opt for these courses to get the same education. Some of the mentors also provide discounts on their courses, as a result of which, this business model promises to stay for decades to come.
3. Lower Business Costs: In a community based education business model, less money needs to be spent on sales, marketing, and customer support services. This is because the majority of the work related to these services is done by customers who opt for the courses provided by these educational organizations. Another reason is that they learn as a community and feel responsible for growing that community.
4. High Course Completion Rate: When it comes to the benefits of a community based business model, owners benefit from it a lot because this form of education has a course completion rate of over 95%. By providing exclusively-curated and high-quality course content, experts give candidates a reason to stick with the course till the end. And this exclusivity also serves as a reason for more people to opt for these courses.
5. Authority Building: A lot of businesses struggle for years when it comes to building authority in their respective segment. But by developing an educational business that runs on a community based model, you’ll be able to build that authority in a really short span of time. The community that you have, helps you in building this authority by using the word of mouth technique to spread the word about the good experience that they had.
Aren’t these benefits too good to have?
They sure are! So, if you’re thinking of starting a community based organization, then take this as a positive sign and jump right in.
How Are Startups Embracing This Concept?
If you think that online community based organizations are only a thing of the future, then you’re wrong, my friend!
There are startups out there that are taking the concept of online community based organizations to the next level. These startups are basically community-led organizations.
Let us have a look at the list of community based organizations in India for education. In this list of community based organizations, you’ll find some of the Indian startups that are community-led:
1. Stoa School: This educational organization serves as an alternative for MBA schools. It provides online classes on MBA that are 6-month long. Stoa follows an online community based learning format combined with cohort methodology. Each cohort has highly motivated professionals from diverse backgrounds. These professionals are taught to upskill them for running a tech-enabled business.
2. NextLeap: This is a startup that is focused on upskilling product managers. This community based organization is an invite-only learning network. It uses concepts like case studies and brainstorming to help professionals learn fast. Professionals get to learn from a supportive community consisting of mentors, experts, and peers.
3. GrowthX: Next on our list of community based organizations is a startup that supports founders, product managers, and marketing leaders. Following a community based business model, GrowthX provides short-term courses for founders looking to raise capital and product growth life cycle courses for product managers. And not just this, they also give access to a network of fastest-growing startups in the country.
4. Growth School: From growth and marketing to design and content, Growth School provides various community training courses to help professionals upskill themselves quickly and easily. They partner with the top 1% of instructors to create cohort based courses that are highly impactful. These community based online classes are great for a professional’s career growth.
5. Xperian: This startup helps professionals in creating better digital products and services by educating them using community based learning methodology. Xperian is an ecosystem of cohort based courses and community based consulting to help in upskilling professionals in the field of design, product, no-code, and leadership.
6. Front Row: This community based organization in India offers 10 courses with 200+ lessons from 17 mentors. This educational organization also follows a community based model in which students can complete the course and upskill themselves in a span of 2-4 weeks, depending on the course type. From singing to comedy and cricket to rap, this platform serves professionals that are from creative backgrounds.
So, did you see how community based learning is the future of not just online classes, but also for growing business?
Sometimes all you need to do is find the right platform that can get your business going. And that’s what LikeMinds can help you with. Our platform comes with inbuilt features that can help you in gathering people and creating a community based organization around a specific course, foster discussions, organize events, and manage memberships. So visit the LikeMinds website today!
1. An online community based organization has the potential to generate revenue in millions.
2. Online community based business model promises to be a sustainable business.
3. This business model comes with lower business costs and great competitive advantages.
4. These educational organizations have a high course completion rate because of exclusive educational content.
5. Educational organizations that follow an online community based approach build brand authority quickly.