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:
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[00:00] Today’s topic: Is Education A Good Revenue Stream?
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[00:07] Examples of the educational streams through which some marketers and entrepreneurs make money.
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[00:41] Neil’s thoughts on educational revenue streams.
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[01:02] What has recently happened to the stocks of educational companies (and why).
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[01:35] The value in giving away educational material for free.
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[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.
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[05:01] Lessons that can be learned from people like MrBeast and Logan Paul.
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[05:19] Eric’s approach to monetizing his business.
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[05:59] The scalability of service-based businesses.
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[03:20] That’s it for today! Don’t forget to rate, review, and subscribe!
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