Our New Framework for Building Digital Education Products

Summary

This weekly recap covers key business developments, lessons learned, and frameworks crystallized while running an online education company. Topics span upgrades to their core coaching program, new belief-focused accountability measures to improve student success rates, strong sales despite limited new marketing efforts, collaborations with other creators, experimenting with raw selfie videos for higher engagement, the lesson that repeating yourself and executing boring fundamentals compounds over time, and more. The episode ends noting they must consistently distill and compound learnings, with one host newly married and requesting advice.

Takeaways

• 😊 They are iterating and improving their business offerings like PGA based on customer feedback
• 👍 Their backend infrastructure upgrades improved sales without new marketing efforts
• 💡 They realized educational content needs both skill training and mindset/belief coaching
• 📈 Traffic and conversions improved by fixing parts of the business that were suboptimal before
• 😎 Having both high quality and simple DIY style content creates an authentic connection with audience
• 🎯 Incentivizing employees to grow their roles and the overall business aligns everyone to company growth
• 📝 Repeating frameworks verbalized key insights for continuous improvement and future recall
• ⏱ Consistency in simple actions over long periods of time can achieve ambitious goals
• 💰 Counter metrics prevent gaming when creating goals with incentives or bounties
• 💬 Inviting audience participation made the show more engaging and value adding

Q & A

What is the main topic of the video?

The main topic is a weekly business recap and lessons learned by the hosts as entrepreneurs.

What improvements are being made to the PGA curriculum?

They are adding more content to address potential objections and limiting beliefs that students may have, in order to improve execution of the curriculum.

What did they realize about educational content from the mindset accountability call?

The best educational content provides both practical skills as well as addresses limiting beliefs that may prevent people from taking action.

What allows them to continue high performance without new marketing efforts?

The assets and backend infrastructure they built in previous months compound over time to drive enrollments even without new marketing campaigns.

What are some key lessons they learned this week?

Everything is trainable, just on a spectrum of difficulty. They will repeat themselves an uncomfortable number of times in business. Suboptimal parts of business present opportunities for endless improvement.

How did braking out compensation by department help the CEO have his best year ever?

It incentivized each department leader to perform better by treating their area like a business with shared upside.

What is the Cobra effect and why does every goal need a counter goal?

The Cobra effect refers to perverse incentives when goals lack constraints. Every goal needs constraints to prevent gaming the system.

What routine are they implementing to make rapid improvements?

Short daily meetings to identify tasks combined with closing the loop in the evening to review progress and iterate.

What are some potential business ideas they discussed?

Packaging clips of their best framework insights over time into a premium subscription offering.

When is Cole getting married?

Cole is getting married in two weeks during their upcoming trip to Colombia.