This transcript was generated from the episode audio and may contain minor errors.
[Music]
Before we jump into today's episode, which is a good one, I wanted to acknowledge that we are at 1,400 episodes. That's right, this is episode 1,400. And of course that means for the past 1,400 days, we've been putting out an episode. So thank you listeners for allowing the show to continue. Thank you so much for your kind reviews.
That stuff makes a huge difference in Apple podcasts or wherever you listen. And thank you most of all for spreading the word. This project has grown entirely because of organic word of mouth referrals, people saying, hey, you should check this out because maybe this would be good for you. You know, you've never thought about owning a business perhaps, but this could actually be really great. Or even if you do have some background in running a business, you know, Satasil School could help you.
So thank you so much, episode 1,400. Now let's jump in because today's listener is working on a website that helps medical coders earn free continuing education credit. And she's wondering how could this project be monetized? Now you see many industries require certification and a minimum number of ongoing training hours every year. Depending on your profession, you might be very familiar with that.
This is known, as I said, as continuing education, CE, or sometimes continual professional development, CPD, maybe some other acronyms. But naturally CE is an industry in itself because there are so many different professions that require this kind of ongoing training. Therefore it's an industry with a lot of opportunities. If you are qualified to provide some of the training, or if you can become qualified, this can be a remarkable opportunity. I have a friend who's doing this for therapists and another one who's working on it for accountants.
And back in episode 798, we featured an Australian architect who leaves her marketing agency to launch a directory for other architects in need of continuing education credits. And this directory goes on to earn six figures a year. The situation for today's listener is a little different though. So without further ado, quick message from our sponsor. Thank you sponsors as well.
We appreciate them too. And then let's get into the details of her question. [Music]
Hi Chris, this is Tricia from Cleveland, Ohio. I've listened to your podcast for about two years now and I love all the practical advice you offer. I'm thinking about starting a side hustle that centers around a certification I hold in medical coding.
To maintain certification, coders must earn 24 continuing education credits every two years. Many employers are no longer offering to pay for staff education so this can get quite expensive. Some companies offer free CEUs but it takes some searching. I've posed a question to a Facebook group asking if it would be helpful if I sent out a list of free CEUs I found. I got an overwhelming number of requests that said yes.
So because of this, I'm considering creating a website and a monthly newsletter listing all the free CEU offerings that I was able to locate. I'm looking for ways to monetize this. I'm thinking ads would be the best route but I'm leery of clogging up the website with ads. Do you have any suggestions? Thanks much.
- Tricia, thank you so much for being out there. Thanks for the great question. And listen, I love this idea. I think this is an idea with a lot of potential and without knowing your industry specifically, obviously you know the details and the nuances but I do have a suggestion for a potential tweak just at the outset. First of all, I agree with you about the ads.
Like Tricia mentioned some that she's leery of clogging up the website with ads. And it's not just about that. It's also that you would need a lot of traffic to make it worthwhile to actually make some money from an ad revenue with this kind of site. To me, the best opportunity here might require some more work, but it's more potential. Like I wouldn't limit this directory or this resource to free CE courses.
I would make the website and directory for all CE courses that are relevant in your area or for your industry, et cetera. So I would include the free ones, but I would also include the paid ones as well. And that I think is kind of where the monetization is. That's how it was for that Australian woman, I believe that we featured on episode 798. You want to try to partner with the companies or individuals providing those services and you're essentially doing lead generation for them.
So in some ways it's an affiliate model. There's a couple of different ways we could put that together on a technical level, but we could talk about that separately. And then also furthermore, wait, there's more, why not consider developing a training yourself? 'Cause you know this industry and you could still create that website and directory, but as part of that process, you're looking for ways to create value for yourself and you offer your training. And I would suggest don't offer it for free.
Offer it for a fair and reasonable price. Create the most helpful resource you can for everyone in your fields. Give people what they need and not everything they need may be free. Because for a lot of people in the different professions, paying these fees is just part of being in the industry. So I would not limit myself to free resources.
I think it's great to showcase those, highlight them, but also the paid ones. And I think that's the key to the monetization. So that's my two cents anyway. Take it for what it's worth. Thank you again.
Listeners, thank you, 1400 and beyond. We are continuing on. And if you've got a question of your own, come to sidehustleschool.com/questions. We'll continue to feature them along with updates from other listeners as they launch their projects. It's so exciting to hear what people are up to.
So let me know what you're doing. If you've got an idea, if you're working on something, I would love to know. Thank you once again. Be sure you're subscribed. More is coming up.
My name is Chris Guillebeau. This is "Side Hustle School." [Music]
from The Onward Project.
