Sunday, March 4, 2012

We Have A - LMS

Sometimes the unexpected things happen in business.  For my benefit of my students I have been recording all the classes that we offer.  But there was nothing in the market that I could find where I could distribute my videos of my classes.  Our videos are sometimes 4 hours long and you could forget about You Tube.  Even if they allowed such long videos there was no way to keep it secure and give out access to students easily.

So I spend a crazy amount of money and working with JAVA developers to develop my own Learning Management System (LMS).  I do not have a fancy name for it yet, but we will come up with a name.

I have a simple and elegant system in which I can access to any of my classes that we offer within minutes to any student from around the world.  It can keep track of when they are watching our videos, how long they have been watching our videos and a host of other features that we have installed.

I was chatting with a friend that owns a similar company and he wanted to know if he could buy our LMS.  So I sold it to him for $3000.  This was a fraction of what I spend to develop it, but I never dreamed of selling it for any money so I figured, every dollar that comes in is profit.

Then I thought about it.  If someone wants to buy it, maybe there is a market for something like this.  So we have decided to hire a bunch of JAVA developers and make it even more robust and add a lot more features and start selling our LMS to other small companies or individuals.  You never know how people will use the product until you start showing the market place.

I just thought that it was interesting that I developed a product that I needed so that my kids could benefit from watching my videos again and again and this has become a product.  Sometimes life takes you in interesting directions.

By the way, all my friends made fun of me and did not even believe that someone would offer to buy it, but the very next day one of them came to me and asked if he could have it also, and since he was a friend, he said he knew that I would give it to him for free and would not charge him.

Hummmm!  Interesting!!!

Anyway, thanks kids, only by my trying to improve the experience for you at our training center would this product have even come into existence.  I will now put a team together and work on it and see if we can start selling it. 

Like I said, you never know where a product or idea comes about.  Mine was inspired by my students.