Just about every week this year I’ve been sharing details of new and creative ways that schools & businesses have been recruiting new students & clients through the pandemic. We’ve had a business that transformed a $100 average price into $700 (!), language teachers who have gone online and earned several hundred thousands of dollars, marketing lessons from Lamborghini (I can see their vineyard from my balcony! You need to be a Lamborghini, not a Lada school) and today of a local school that last night had the longest queue of new students I’ve seen since Covid began! They are all over in the Professional Teacher Genki Business Facebook Group which comes with the Professional Teacher Genki Business Course.
Save on your tax bill?
And if you are wanting to reduce your tax bill before the end of this tax year (i.e. in 2 weeks time for some of you!), double check with your accountant and fingers crossed you’ll be able to use the price you pay to join the Genki Business Course to reduce your taxes this year! Plus you’ll get the course, join the Genki Business group and learn all these new techniques & ideas!
How do you decide if it’s worth you joining up?
To decide if it’s worthwhile you joining the Genki Business course, just calculate the “lifetime value” of a new student for you.
So for example if an average student stays with you for 24 months and pays you $/€100 per month then the lifetime value of a new student is $/€2,400. So you just need to attract one new student and the course pays for itself. ( Or maybe even sooner if you can tax deduct the course as an expense, see above!)
Or if on average a student stays with you just 10 months and pays you $/€50 per month, that means their lifetime value is $/€500 so you’d need to be confident about attracting another 4 students to make the course pay for itself.
( To give some context, the main “lifestyle first” business model in the Genki Business Course aims to attract you 120 students and teaching 15 hours per week. We also have a “Million Dollar Business Plan” where you’ll hire teachers and learn how to recruit 343 students, but stick with the lifestyle plan for now with 120 students to get you started and preserve your family time!)
Even the Investing Module alone could be worth more than the whole price of the course for you!
What if this doesn’t make any sense at all?
And if all the talk of numbers above has you all confused and pulling your hair out, don’t worry. Take a deep breath. Then take a good small business accounting course and use the free ideas on the site here to attract so many new students that all the numbers above will start to become really important for you!