The Future of Online Education…
Summary
- Global education is a massive $10 trillion industry.
- In the U.S., education alone is $1.5 trillion, with formal education like 4-year and 2-year degrees making up $850 billion.
- Formal education enrollment in the U.S. is dropping by 6% a year. Fewer high school seniors are enrolling in traditional degree programs.
- Instead, students are looking for alternative career paths.
- Online education and e-learning is a $200 billion industry. It’s growing fast at 20% per year.
- Formal education is losing about $50 billion a year, while online education is gaining around $40 billion a year.
- The overall demand for education remains steady, but people are spending their money on different types of learning now.
- People still want skills to become valuable in society and make money, but they prefer online and alternative methods over traditional degrees.
Video
How To Take Action
I would suggest implementing a focus on online education and e-learning. It's a booming industry growing at 20% per year. You don't need a lot of money or time to start. Here’s how to begin:
Identify Your Niche: Figure out what skills or knowledge you have that others might value. Whether it's business skills, technical know-how, or a unique hobby, there's always something you can teach.
Create Quality Content: Use tools like Canva for designing course materials, and platforms like Teachable or Udemy to host your courses. Keep it simple and high-quality. Focus on clarity and practical applications.
Marketing on Social Media: Use social media platforms to reach a broader audience without spending much. Share valuable insights and snippets from your courses on Instagram, LinkedIn, and Facebook to draw attention.
Offer Free Webinars: Host free webinars to give potential students a taste of what they’ll get. Use Zoom or Google Meet for this. This builds trust and can convert attendees into paying customers.
Engage with Your Audience: Always respond to comments, emails, and messages. Build a community around your content. People are more likely to invest in your courses if they feel connected to you.
Continuous Learning: Stay updated with the latest trends in e-learning and continually improve your content. Platforms like Coursera and LinkedIn Learning offer courses to help you enhance your teaching and marketing skills.
By focusing on these low-cost, high-value strategies, you’ll be able to tap into the growing online education market and meet the demand for alternative learning paths. Keep refining your approach based on feedback and evolving trends to maintain and grow your audience.
Quotes by Alex Hormozi
"Global education right now is 10 trillion"
– Alex Hormozi
"US education is 1.5 trillion"
– Alex Hormozi
"Formal education in the US is declining at 6% a year"
– Alex Hormozi
"Online education and e-learning is currently $200 billion a year and is growing at 20% per year fast"
– Alex Hormozi
"The demand for education in my opinion has remained stagnant"
– Alex Hormozi
Full Transcript
Global education right now is 10 trillion us education is 1.5 trillion formal education is 850 billion so that's foure degrees and 2-year degrees formal education in the US is declining at 6% a year in terms of enrollment rates so high school seniors are not enrolling as much in two and foure degrees they're choosing alternative career paths but Ain in that on a parallel track online education and e-learning is currently $200 billion a year and is growing at 20% per year fast if you take the 6% that formal education losing it's about $50 billion a year that's going down if you take the 20% of 200 it's $40 billion a year that one's going up and so the demand for education in my opinion has remained stagnant people want skills to become contributing members society and make money where they're choosing to spend those dollars is shifting
