Topic: Help me analyze the feasibility of this business idea - page 4. (Read 811 times)

The thing about work/job is that there is no freedom and you are bound by rules. So continuing your online journey while doing works for others may become difficult in the long run. Maintaining the time would be difficult. But as you have said teaching is your passion, then I think if you try a little bit harder you may find a way to create your own time space. But if you do something on your own, you get the freedom and you are the boss of yourself. That's the best thing about doing businesses or something on your own.
Online courses are available on the internet and many people choose to learn from that. But something to learn hands on so that they can get the best experience. As you have mentioned that you have competition over there, so building something from the ground up will be tough. But if you can manage to do it you will achieve a great success for sure. My suggestion will be give it a try and see how far you can go. If not far then there's a saying that goes like this. If you can't fight them, join them. I'm sure those places where they teach online stuff they will also hire people as a teacher. You can teach and earn and you won't have to create a space on your own. And if you can do that work for a bit of time and on good amount of money to actually start your own place, I guess that will be a good idea. And when you join them you may learn how they operate and then you will have more idea how to compete against them. This is just a suggestion but if it helps then I'll be happy.

Education is the foundation that helps evaluate whether a country's economy is developed or not, the future of the country depends entirely on education. So it's terrible that many governments still don't see that importance and look down on the education sector. In my country, education is also gradually declining as schools and teachers begin to care more about students' achievements than their actual learning abilities. This is really alarming for the future of the country but it's too bad that the government doesn't see it and it's going downhill day by day.

Here's some advice you should seriously consider: it's tough to excel in a job you don't have a passion for. It should be all about your passion rather than just the paycheck. But, I get it – you've mentioned that the current salary of teachers in your country doesn't quite cut it. In that case, I'd recommend exploring online teaching. With your passion and teaching expertise, I'm confident you'll find some attractive opportunities on the web.

Since you brought up teacher salaries, would you be willing to share the typical figures for their salaries? Also, it would be helpful to know what you're aiming for in terms of salary. This way, we can get a clearer picture before diving into more specific suggestions.

I don't see a reason why you can't do both. If you decide to teach then ensure that you will only be teaching one course, that way you'll have time to spare. With the free time you have you can do number 2 as a side job and even do crypto investing at the same time. It's honestly all about time management and improving your skills. If you really want to do it you can always find a way around things to do so. You have to try things first before you can make a definite conclusion on whether or not it will work out for you.

The key point is to make a plan and put it into action, after doing so you'll soon find out what you can adjust and change overall.

For number 1, I think it's more of a work rather than a business idea. So this option means you'll work as a teacher and do crypto as your other source of income. I think this is more realistic and easier to achieve. While you're doing your profession, you can have other source which is crypto where you don't have to spend around 8 hours there to earn an income.

As per number 2, you will start a computer institute? Well I think this will take more of your time compared to teaching since you will handle a lot of things being the owner of this business. Also, starting a business, you need to consider these things. Preparing for a great expenses in building it. Do you have the funds for it? Are you the only one who'll be teaching, or will you hire other people? etc.

But those two have something in common, which is teaching. Just an advice, maybe you can start from teaching in an institution where you can teach two different subjects. Math/science that you mentioned in your first idea, and a computer related subject you mentioned in your second idea. I don't know how teaching works in other country, but in my country, it's possible for teachers in highschool to teach two different subject at the same time. So if it's possible maybe you can try that and then you can do crypto during your free time.

For me it's understandable. Maybe he thinks crypto and other online stuffs are a better way to make profit than those who are outside. Understanding the things that we are going to venture is still needed so that we can be successful at them. We are not making a money yet on this part but it doesn't mean it can be disregarded. Profits can just come and stacked later on.

We shouldn't be like the others who rush because they only end up as a failure. Also, we should avoid hypes. Bull run on the other hand, can sometimes happen earlier than a year or two. I see that the OP already mentioned if what skill he has. I think it's enough for us to give him a help or a recommendation.

Your situation is intriguing. Two paths, both appealing, but which one to tread?

Your passion for teaching is obvious. Like you said, the modern economy is unrelenting. Single income rarely suffices. Using the internet's power? The online tutoring industry is growing. You teach, earn, and have time for crypto. Seems ideal?

Second, the computer institute. You have talent, IT expertise, and a unique offer. Competition? Inevitable. But innovation is always possible in the broad modern economy. Can your novel concept change everything?

Bottom line: Where's your heart? In tech or teaching? You choose, but in today's changing market, enthusiasm and creativity are vital. Next move?

Yeah on this second option, don't allow fear discourage you from that which you already know there is light on it. In fact, competition is good for business. Those already existing business centers you think have covered all the customers may not be giving those customers the service and satisfaction they need, so you could come in to do that and it will be like lightening the way you will grow.

Usually in a business environment, there are one, two or few people who don't like the way owners there operate their business or they have had quarrel before so they are just waiting for another alternative to patronize. So such people who have not committed themselves in patronizing existing business centers there are your first customers.

Don't be scared but as a new business in an area where such business is already existing, you have to launch out very well and make a statement that will be lasting in the minds of your would be customers. Like some new business do freebies, give always or charge ridiculously low for a start until they have seen you are ready to conquer.

How much will it cost to launch your own "computer institute"? You will have to buy or rent a building and spend money on renovation.
Do you have any capital or budget for launching such business? I'm sure that such private education organizations would need some sort of license from the Ministry of education. Do you have such license?
Can't you just create paid online courses on platforms like Udemy and Skillshare. The setup costs will be way lower in comparison to a "brick and mortar" business. The problem is that you will have big competition. Lots of people around the world are tech savvy and have sufficient knowledge in IT and graphic design.

Going with the first option is a good idea because mathematics is a very important subject in any school curriculum and it's not something a child can do without. I believe you'd get good income from it especially if you are good at it. Where I come from, maths and English are two essential courses one needs to pass if you want to move on to the next level in your education. Taking up a private class also gives you time to go about your online business because you get to set the time with your student.

 Taking up a class in graphics seems like a good idea but then you said you have a limited knowledge of it, so you can stick with teaching maths and doing your online stuffs.

This is the one I will pick from your two ideas because the Graphic design sector is much more competitive so if you do not have extensive skill in that field then you will not succeed on your own.

Teaching as a profession pays you a decent amount but in the modern era you can start your teaching profession as a part-time job too and one of the best places where you can start is platform like Fiverr which has huge traffic compared to other similar sites but it will take time to build your portfolio to increase your experience then you can charge the premium prices.

By the way, both these ideas are more about finding a job, business is different so first you need to learn the difference between them.

Developing existing potential to be able to earn income is quite a positive thing where there will be a feeling of joy and self-satisfaction after we do the work, there is no excessive burden which is a big advantage for ourselves no matter how small or large the income we will generate .
In this life we will never have enough of the income that we have so that in various ways we will make efforts to develop our income, and it is true that there is no benefit that we will get if we are not able to develop the knowledge that we have have.

Your idea is good. To have different means of income is really important in this present economic hardship but the challenge will be how you can manage your time.

Somehow cryptocurrency business is time consuming and you also have to give it time if you want to succeed in it except you are only hodling but if you plan to trade without giving it time it gets you into loses. But surely there is need to diversify your income source and the area of interest is in line with what you are already having basic knowledge on.

I will start with your second idea - teaching about computer graphics and etc. I think it will be really hard to get success in it, as you an individual, and there are already corporations that offer online training courses, as well as there are plenty of information on YouTube for example (like step-by-step lessons). But math courses might go well. You can teach students individually online. However consider it more like a freelance job, than a serious business project.

I think OP tried your best (with luck) to make great work choices,

1- To me, the teaching profession is a noble job and always receives respect from society, but the OP's point of view may still be about finances to maintain life. It's also possible that the teaching profession can bring low income, but let's look at it from one perspective: it's a job that brings valuable knowledge to the next generation and don't use money to compare.

2- With this 2nd option, I also have a little understanding about it. The competition in this environment is quite harsh. If you are not good and different enough, the job will only be at an average level, working like a job computer and run deadlines every day, every month, every year... But it's actually a pretty good job for today's young people. If you're talented, your creativity at work will take you to positions that as I know some people in this industry they are happy with it.

But what do you think about balancing both of these things, I mean doing both things in one job. Specifically, you can teach graphics, or vice versa, create educational graphic products.

There is not really a superior choice among the two, as both of them are basically a job as a teacher, with the only difference being what you teach and if you are your own boss or not.

With this in mind the only one that can choose the best option is yourself, as you know way better than ourselves the current situation where you live and which one of the options you bring forward has a greater chance of succeeding, however if given the choice you should try to become your own boss, as most of the time this is an option which can bring you more money over the long term.

Your issue about teaching is pretty common for other teachers too. It's either the other school activities, extra curricular activities or extra hours of work at your home to finish your report would consume your remaining free time.
I thought online teaching could be a better alternative to this and might give you more income and free time than the physical schools.
Since, you have mentioned teaching is what you are passionate about, so I guess teaching other subjects like English language isn't gonna be a problem to you and this is what I can recommend to you.
You can work under 8 hrs a days and it is guaranteed you'll have plenty of free time to be more productive.

with the second idea you need to start it up and see whether it fare quite well in your area considering the competition, the first choice is also just as good, you know that teaching profession isn't all about stuck in one job, you can have job at teaching and also creating online courses and make money out of it, heck if you good at marketing the income would be massive.
but for the long term I think the second idea is promising, it can scale well and can give you many income but to pull it off indeed you will need massive effort and innovation.
its actually also depends on your financial condition and see whether you can really create business, you should know starting business isn't as easy as it seemed to be.

the OP knows his real capability when it comes to teaching as well as his financial conditions. from that point, he will be the one who can finally decide where he will walk his path.
from his situation, it seems it is better to get a part-time teaching job so the time may not be too consuming. and so he can still find time to do other side jobs that will give him additional income.

From what I see in your current situation, you also lack a source of income to cover your expenses for a month, and in that regard, you are not alone. Many people on this forum platform have their own personal jobs while they are here. And Bitcoin, or cryptocurrency, is only one of their additional sources of income; the others are full-time here.

Since you have knowledge of graphics and technical aspects, I think you can use it here in this section: https://bitcointalk.org/index.php. board=52.0You can offer your services there; what are your skills? Just observe first how they offer their services in that section, then post your skills that you can give to anyone here in the forum.

And as far as I can see, you did not make a mistake in landing on this forum. You can learn a lot here because most of them are accommodating people.