Idea Overview:
Demand of online learning has increased since ever before. Professional and academic accounting students need good interactive video contents as well as materials and post school support to do well in their final exams. My online school “Accounting Lecture” is designed to help students getting “quality education at an affordable price”. They will get complete syllabus coverage, lots of practice, quizzes, live & recorded video lectures, social media help group (30,000 plus members support). All they need to do is sit back, watch our videos and pass exams with flying colours from home. Save travel cost & time. Any of my online course can be accessed at 1 pound a day only and there is free trial with cancellation options available
Who might use it/where it might be used?:
Users are from 14 years to 70years old students studying towards IGCSE, A level, HND, HNC, University courses, MBA, PHD, professional courses such as : ACCA, CAT, AAT, CIMA, ICAEW, CPA, CGA and similar bodies. Just a mobile or computer device with internet connection can bring A/A* results and keep them one stop ahead in Accounting learning. Students can learn, interact, comment, and solve problems from anywhere in the world at any time with 24/7 access. Almost 150 country students are already studying my online courses on different online platforms and it has huge potential to grow.
The Market (B2B, B2C or Both):
Sector the idea belongs to:
Technology/IP-based businesses
Is there a similar idea to be found?:
Yes there are some EdTech companies such as Acowtancy.com, Khan academy, LSBF, First intuition, BPP. They are working online. Only LSBF, First intuition, BPP has their college in UK. Some other EdTech providers are working online but serving generic products not Accounting specialised products.
Why you think there is a demand for your idea?:
Millions of students studying IGCSE & A level accounting in approximately 200 countries but there is no specilised online teaching platform where they can get one stop solution of tuition, course notes, revision, mock exams, teacher feedback and dedicated support. I want to deliver this service to all over the world using my online teaching platform. Also for professional accounting courses, there are handful EdTech organisations compared to huge clients. So I believe, there is vast demand for Accounting online courses, because these qualifications will make them employable and teach them new soft skills (Accounting software) along with traditional accounting (Financial/Management Accounting, Tax, VAT, Audit)
Who would be the ideal customers?:
My core customers are IGCSE/O Level, A level Accounting Students across the globe. Professional Accounting students, specially AAT. University Accounting students. Diploma Accounting students.
What ideas do you have to reach these customers?:
I prefer free advertising policies on social media and build a strong community. Such as I have created a facebook group called" AAT UK study support group" to help AAT students for free. This community has grown to 12,000 plus members in less than 2 years. All of them are my potential customers. Also I have a YouTube channel (Accounting Lecture) where almost 19,000 subscribers watching my tutorials and getting help from all over the world. They are also my potential customers. Apart from these, I will do online blogging, facebook & YouTube marketing to reach my niche market. Also words of mouth and ex clients will bring more clients. Time to time I will arrange free online & face to face workshop, revision class & career development program.
How far have you developed this idea?:
I shared my thoughts with my mentors and they are guiding me. One of them is a lecturer in University of Suffolk and other one lecturer of University of Essex. I have already developed an website and working on it. My YouTube is a popular search for "A level Accounting", "AAT Accounting videos", "IGCSE Accounting tutorials" and always on top 3 google search. Many UK college and sixth forms following my tutorials for "AQA A level Accounting" Everyday I am developing this a little bit.
What – if any – feedback have you had for this idea so far?:
I had both positive and negative feedbacks : Positive feedbacks: Thousands of students are saying thanks on my tutorials, some saying I am a life saver some saying why I found you so late. Also my website is user friendly (from teachable) and nicely organised. Negative feedback: Out of 1000 feedbacks, I see 2/3 people saying my handwriting needs to be improved. Also sometimes I speak too fast. Well. My Udemy rating is 4.57 plus, Reed Global rating is 4.97 and have hundreds of positive feedbacks on YouTube.
What supporting material – if any - would you like to add to your proposal?:
I would like to attach links of my online platforms as supporting materials: My Website: https://accountinglecture.teachable.com/ My YouTube: https://www.youtube.com/c/AccountingLecture/featured My Udemy: https://www.udemy.com/user/ilias-rubel/ My Reed Global: https://www.reed.co.uk/courses/profile/accounting-lecture Also I have written some books on accounting for AAT students

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23 comments to “One pound tuition”

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  1. Omar Faruq - July 1, 2022 at 4:49 pm

    Beautiful thought, keep going

  2. Tim Strege - July 4, 2022 at 7:13 pm

    One Pound Tuition has a compelling business case: solid credentials by service providers connecting to a growing base of potential users, a network for continuing and advanced education, and a revenue methodology. The “start small, market small” strategy seems best – make a positive impact with revenues at some initial (university-related) locations, then expand carefully over time to match resources to a growing number of satisfied customers. Who accepts the One Pound Tuition credential? Is there a monetary value associated with it? Know that the “consumer surplus” will drive this sector – giving the customer/user more benefit than the product price and training time.

  3. Trudi Hamer - July 6, 2022 at 9:53 am

    Your idea has a very ambitious programme and intended reach. Would you focus on GCSE and A Level first, and then diversify to the adult learning (14 – 70 years old)? I am interested in your plans for launching to each target group,.

    • Md Ilias Rubel - July 14, 2022 at 6:12 pm

      Hi Trudi,
      Yes I would start with GCSEs and A levels then move onto other courses.
      Thanks for your interest and hope to talk to you soon.

  4. Richard John - July 6, 2022 at 11:16 am

    I undertook a number of courses during the pandemic, so I know how vast the demand is. If you want to offer accredited courses – such as GCSE – what is the cost implication for the extra processes and fees to awarding bodies?

    • Md Ilias Rubel - July 14, 2022 at 6:15 pm

      Hi Richard,
      Yes, the demand has always been there in the market and pandemic covid19 accelerated the urge.
      I will keep my resources £1 a day only (all resources including A start preparation)
      But external exam cost must be borne by students, such as exam registration fees.

  5. Jake Shaw - July 7, 2022 at 8:44 am

    Following on from @Richard John’s point. You will need an institution to accredit your course – have you approached anyone?

    • Md Ilias Rubel - July 14, 2022 at 6:19 pm

      Hi Jake ,
      I myself Acca member and have accreditation with Acca. I am popular Aat as well as A level tutor. So accreditation with Aat, Edexcel, Cambridge, AQA and ocr is in my to do list. Later on tquk, ncfe and even university collaborations are in my plan as well.

  6. Mark Cardwell - July 7, 2022 at 11:06 am

    Do you have a feel for the cost of creating the courses, and keeping them up-to-date with the examining bodies’ syllabuses? How many users might you need to break even?

    • Md Ilias Rubel - July 14, 2022 at 6:23 pm

      Hi Mark,
      Yes, being a chartered accountant, I do the cost benefit analysis first. I need only 100 students to reach bep.
      The maintenance and marketing as well as upto date resources is challenging, these are all about taking new challenges and making things happening.
      I am already selling some courses on different platforms and feedback from students are awesome.

      • Mark Cardwell - July 23, 2022 at 5:22 pm

        Thanks – and I see you have uploaded a calculation in your Lean Canvas showing 264 students to break even. Have you an expected customer lifecycle – how long would they stay?

        • Md Ilias Rubel - July 29, 2022 at 5:23 pm

          Yes, minimum three months to maximum 2 years they will stay.

          • Mark Cardwell - August 10, 2022 at 8:03 am

            Thanks – so if you need to maintain 264 customers to break even, and they stay (let’s say) an average of 14 months, you need to acquire 34 new paying customers a month.

          • Mark Cardwell - September 8, 2022 at 3:42 pm

            (If your customers were in the UK, I think you’d be liable for UK VAT, so that pushes the break-even point a bit higher.)

  7. Simon Krystman - July 12, 2022 at 11:44 am

    Hi Omar, please could you upload your Canvas and Customer Persona’s

  8. Sonia Lassami - August 1, 2022 at 8:36 am

    Excellent initiative seeing how virtual learning has now become more popular over the past few years. In terms of the negative feedback regarding speaking to quickly, I would suggest recording yourself on a platform where the speed can be adjusted (similar to YouTube) if you haven’t already.

  9. Mario L Castellanos - September 2, 2022 at 12:44 am

    You seem to be doing everything right so far. Your research, planning, feedback, etc., is on track. The cheap marketing route you are taking now is smart. I would however, look at additional avenues of marketing to prepare you when you believe you are going to begin the revenue stage. One it takes, off, the copycats will come out of the forest, many with deep pockets. You want to own as much of the market as you can when that occurs. Good luck with it.