Is Education A Good Revenue Stream?

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 8 May 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2448, Neil and Eric talk about whether education is a good revenue stream. Their answer is no! Many people choose to sell ebooks, courses, and webinars as a way to make money, but Neil and Eric have chosen to give this kind of material away with the aim of increasing their reach, and then they make money by selling their services. Tune in today to hear why service-based businesses are far more scalable and profitable in the long term than education-based businesses. TIME-STAMPED SHOW NOTES: [00:00] Today’s topic: Is Education A Good Revenue Stream? [00:07] Examples of the educational streams through which some marketers and entrepreneurs make money. [00:41] Neil’s thoughts on educational revenue streams. [01:02] What has recently happened to the stocks of educational companies (and why). [01:35] The value in giving away educational material for free. [02:18] Changes that Neil made to his business model to transition away from education as a revenue stream and the success that he achieved as a result. [05:01] Lessons that can be learned from people like MrBeast and Logan Paul. [05:19] Eric’s approach to monetizing his business. [05:59] The scalability of service-based businesses. [03:20] That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: Logan Paul MrBeast Don’t forget to help us grow by subscribing and liking on YouTube! Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	All right, so we're going to talk about if education is a good revenue stream.
0:04.2	Neil, do you want to set the tone for this one?
0:06.2	Sure, so a lot of marketers and entrepreneurs are making money by doing things like selling
0:11.2	e-books or selling courses or doing webinars
0:14.1	and then selling them on some, you know,
0:16.0	educational-based package, whether it's a certification even.
0:19.6	And then to go one level deeper,
0:21.6	some people make money through education by speaking at conferences.
0:25.1	I used to be one of those people, heck I used to also be one of those people that charge for
0:29.8	e-books and the real question comes to is those kind of revenue streams good and you know
0:37.5	curious to hear thoughts Eric on my end I think you already know the answer I
0:41.4	hate those kind of revenue streams.
0:43.4	I think they're very short-sighted,
0:45.5	they don't have most of potential out there,
0:48.4	there's nothing wrong with them.
0:50.0	I think charging to speak at conferences
0:52.0	again is short-sighted and there's much much better
0:56.2	revenue streams and I can go into some of them but I are curious to hear your thoughts first.
1:01.0	I don't know if you know this Neil if you saw the stock report from
1:03.4	Chegg so I mean the financial reports the quarterly earnings more so but they just
1:09.0	drop 40 percent so Chegg dropped 40 percent Pearson which is a large education company as well.
1:14.0	There's stock tanked as well.
	...

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