Blissful ignorance can cost you money in lost revenue and business growth. If you want to avoid the regret of having missed money-making opportunities, invest some of your business development dollars to add e-learning to your product offerings.
Whether you answer yes or no, if you want to be successful in the virtual economy, it’s important to probe this question.
So let’s start with defining e-learning.
Electronic Learning, shortened to e-learning, is the process of acquiring new knowledge and skills by way of electronic technologies, media, and the Internet. E-learning is a catch-all term that includes the process, content, and technologies that are used for digital learning and training. Most e-learning for businesses is web-based training that’s delivered through computers and mobile devices.
How much money is in the e-learning industry?
The global e-learning market is expected to grow at over 8% compound annual growth rate between 2020 and 2026.
E-learning is a huge financial opportunity for businesses of any size and in any industry because the e-learning market covers end users in academics (K-12, higher education, vocational training); corporate settings (small & medium sized businesses, large enterprises) and government (military, civil service).
E-learning is a global market trend that’s here to stay.
The e-learning market has steadily grown for many years. But there’s nothing like a crisis contagion to wake us up to the advantages of remote learning and work. The global coronavirus pandemic that broke out in spring 2020, caused bricks & mortar businesses, schools and institutions to lock down. As governments issued stay-at-home orders to limit the virus’s spread, the demand for e-learning, virtual learning and telework accelerated in all industries.
Even as countries round the world find ways to control the virus and reopen their in-person operations, it’s clear that learning and working remotely are here to stay. And that’s where the savvy business owner can seize opportunities to grow their bottom line by offering e-learning offerings to their customers.
Why know the market trends and invest early?
If you’re wondering about the value of investing your business development dollars into e-learning, let’s illustrate how following the market trends and taking action, could make you rich. Using a ten-year comparison of stock share price from 2008-2018:
Netflix started as a mail order company that shipped DVDs of movies and music. Heeding the consumer market trend toward instant viewing, Netflix transformed itself into a video streaming service, worth $36.64 billion in 2018 and projected to reach $125 billion by 2025.
Imagine having purchased 100 shares of Netflix stock at $4.49 to see your $449. investment grow to $41,676. ($416.76 / share). Total profit = $41,227.
Amazon began as an online bookseller. They expanded their offerings because they gauged consumer hunger for more retail products and quick, convenient online ordering and delivery. In 2020, Amazon reached $1 trillion in market value, making it the most valuable retail company in history.
If you’d bought 100 shares of Amazon stock at $70.70, your initial investment of $7,070. would’ve grown to $201,298. ($2,012.98 / share). Total profit = $194,228.
Maybe you’re a visionary who purchased Netflix or Amazon stock years ago and now you’re relishing the bonanza to your 401K. But if you’re like lots of people (including me), you missed the boat to invest early because you were blissfully ignorant of the market trends.
The same way that Amazon and Netflix were able to foresee market trends early enough to position themselves as the largest players in the market, understanding the power of the e-learning industry, and taking action, will set up your business to make more money.
It’s your turn to take action.
You don’t need a crystal ball to make money with e-learning. Simply know the market trends and be willing to take action. In fact, getting in the game of e-learning is far less risky than the stock market.
You control the variables by researching your market niche and adding e-learning offerings that provide lots of value to customers. It’s not magic or gambling. It’s smart business.
How are you going to start using e-learning in your business?
Is there anything holding you back from using e-learning right now?
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