Recently, there have been lots of discussions going on around the monetary part of teaching on the Internet or being an independent tutor in general in the Edupreneurs Club. Being a recovering online coach myself I can absolutely relate to the problem of making a living as an independent educator. Yes, the economics of online tutoring are friggin’ hard.
The thing is this: I think many online tutors do not evaluate their underlying business model or, as one of the Club member put it, wonder if you are carrying buckets or building pipelines. My guess is that many tutors are carrying buckets with no bottom.
The following back of the envelope business plan is of course just one of many scenarios and you should run through this on your own based on what you would like to achieve with your independent tutoring service.