AI: The New Co-Founder for Small Businesses? My Take
In today’s rapidly evolving business landscape, AI is emerging as a powerful tool for small businesses. A recent New York Times article, “How A.I. Can Help Start Small Businesses“, shed light on how generative AI is empowering entrepreneurs to launch and scale their ventures with unprecedented speed and efficiency. I was particularly intrigued by the stories of individuals like Steven Bright, who leveraged ChatGPT to navigate the complexities of starting his company, Skittenz. But overall, having grown up with both my parents being small business owners, the article’s core message resonated with me – AI has the potential to be a game-changer for small businesses seeking to leverage the power of this technology.
While the potential benefits are undeniable, it’s […]
Understanding AI History Teaches Us to Keep Hype-Cycles in Perspective
As of August 2024, almost two years after AI hit the cultural consciousness, it seems the AI-bubble may be starting to take some hits. Recently, Bloomberg News posted an article highlighting that some tech founders and investors are starting to question/wonder about AI’s profitability, etc. etc.
Well, here is case & point on why it’s so important for business leaders to have some basic understanding of the history of AI (or technology, for that matter).
AI, in particular, has gone through periods of rapid progress followed by an “AI Winter,” which is often caused by a lack of what we could call tech capacity (software, hardware limitations, etc.). We often go through hype cycles, and if the […]
Building a Strong Foundation: A University-Wide Learning Technologies Governance Framework
A well-defined governance structure is essential for the successful implementation and oversight of any university’s online learning initiatives. This blog post explores the key components of a university-wide learning technologies governance framework, drawing on the example provided (though it’s important to note that specific titles and reporting structures may vary depending on your institution).
1. The Executive Council: Setting the Strategic Direction
- The Executive Learning Technologies Council provides high-level oversight and strategic direction for the university’s learning technologies.
- This council is likely comprised of senior leaders from various departments across the institution, with a vested interest in online learning.
- Their focus would be on ensuring that the university’s learning technologies strategy aligns with the institution’s overall academic goals.
2. […]
Planning New Professional Education Programs: A Look at Key Considerations
Developing new professional and continuing education (CE) programs requires careful planning and thoughtful consideration of various factors. This post explores some of the key elements you might encounter when reviewing a spreadsheet outlining potential CE program offerings, drawing from the sample data provided (though it’s important to note that specific details will vary depending on your institution and program).
1. Program Options and Considerations
- Program Length: The spreadsheet might show you a range of options for program lengths, from shorter online courses to full-fledged certificate programs.
- Course Formats: The data might include various delivery formats like fully online, blended (online with in-person elements), or on-campus intensives.
- Break-Even Analysis: This analysis would show the minimum number of students required to cover […]
Building an Effective Online Program Marketing Budget for Higher Education
In today’s competitive online learning landscape, a strategic marketing budget is essential for attracting qualified students to your institution’s programs. But where do you begin? This blog post explores the key elements to consider when crafting an online program marketing budget for higher education, drawing on insights from a sample budget.
1. Identifying Your Target Audience
- Program Specific: Tailor your marketing strategy to the unique needs and interests of prospective students for each program.
- Consider Demographics: Age, location, professional background, and interests will all influence how you reach potential students.
2. Marketing Channels
- Organic Search Engine Optimization (SEO): Optimize your program’s webpages to rank higher in search results for relevant keywords. This is an ongoing, cost-effective strategy.
- Paid […]
The Data-Driven Blueprint for Successful Online Programs
Launching and sustaining a successful online program takes more than just a great idea. It requires careful planning, a solid understanding of the numbers, and a clear vision for the student experience. Three essential tools – the pro forma, enrollment cascades, and course sequence cascades – offer institutions a multi-faceted lens through which to plan, analyze, and make data-powered decisions when establishing and scaling online programs.
1. The Pro Forma: Your Financial Roadmap
Think of a pro forma as the financial blueprint for your online program. It’s a model that projects your expected multi-year revenue, expenses, and profitability. A well-crafted pro forma helps answer these critical questions:
- Feasibility: Can this program sustain itself financially? When will it break even?
- […]
About
Dr. Ryan Baltrip, Assistant Professor of Marketing at Old Dominion University and Associate Director of the Loyalty Science Lab, brings a blend of academic rigor and industry experience. With a background from the University of Florida, he has demonstrated strategic leadership and marketing success. A pioneer in online learning, Ryan has spearheaded over 50 programs serving 40,000+ students, generating $50M+ annually, and earning national accolades. Specializing in digital marketing, brand management, leadership, consumer behavior, and entrepreneurship, he’s dedicated to preparing future leaders by connecting academia with real-world business.
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