Case Study 245:
How to REALLY Grow Your Education Business
I know many education providers are struggling for the last four months.
If you want quick advice from me, here are some:
(1) If your cash flow is affected, the most important is to figure out how to solve your cash flow first.
(2) Most education businesses that I spoke to before are losing 50% of the sales; some clients decided not to renew because their income is affected. There's nothing you can do about it; you have to move on and get a new batch of clients quickly.
(3) Advertising is the fastest way to get clients, but you will waste a lot of money if you don't do it right.
(4) Many people think advertising is the "magic button" to save the business, so they think they just put some money, click some settings, and the sales will come in automatically. Wrong. Even if you pay thousands to attend top guru courses about FB marketing, you only get 20% right.
That's why some ask us why after learning FB marketing already, they still don't get results?
Because you only get 20% done.
We need to get the other 80% right as well.
Strategies + audience + offer = 20%
Content = 20%
Advertising = 20%
Follow up = 20%
Closing Sales = 20%
For most, when they look at the equation above, they will tell me, "they already know." What they don't know is that for each section, they are only doing 5-8% right for each section.
(5) If you have a team, make sure your team is working closely with you, a daily meeting is the best way to monitor the progress.
I spoke to one founder of an education center before; she told me: "as a founder, I don't have time to take care of so many things, it's not my responsibilities, and I shouldn't put so much effort to care so much about the details, I let my staff handle the marketing and sales. I will do "other" things.
The founder doesn't bother to do team meetings, team building, and team communication because she thinks she is "supposed" to do "other things."
Next thing I know, the business screwed up big time, wasted a lot of money because the team has no clues on what to do next because there is zero leadership, so each individual only does what they "think" is right. There's no teamwork.
(6) The most important thing is still you have to manage your expectation and accept that this year will not be easy. Once you manage your expectations well, you will start to plan and prioritize wisely about your next move, --- budget, hiring, marketing, sales, and payment.
I have to admit it's not easy for everyone, and I know some have to close down the business, some are breakeven and don't know what to do next, some don't even dare to think about next month...
But if you still plan to be in this industry, we have to accept the new norm and start making changes asap.
If you are determined to make a change right now but you have no idea where to start, I would like to invite you to have a free coaching call with us.
Some people ask, does it work on other businesses?
We helped scuba diving training, beauty academy, robotics class, coding class, IELTS/SAT, fitness & yoga, gym, corporate training, parenting class, special need kids education, tuition centers, language class, coaching, music class, art class, preschool, enrichment centers, abacus class, consulting, international schools, chiropractor, diploma/degree program before, as long as you are in this similar industry, we can help.
If you want to get some expert advice, you can click the link below to book a free strategy call with us, and we'll give you a call, understand your current challenges, give you some implementation steps, and then implement it on your own if you want.
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Speak to you soon.
Don't give up!