Ateneo Professor on Entrepreneurship
From entrepreneur.com by Logan Kugler
Marie Forleo had a prospering business: Rich Happy and Hot Brand, an online business that is geared towards women at PTM. It aims to bring fun and financial independence through mentoring and coaching on how to put their own business.
However, the business ran into rough waters; there was 17% drop out rate - yet there were no complaints. She found out that there were drop outs because the enrolees business prospered, they were overwhelmed with increasing amount of materials and their time available did not meet the demands of the business and their studies.
The fix was an autopilot email software that allowed the students to make feedback, and then reassure the students by emailing the stories alumni wins/successes in their business.
Drop out rate fell from the high of 17 % to mere 3.5% and adding $198,000 to the business bottom line. Is it not great?
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