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 […]
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?
- […]
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