In that same study, 97% of companies said customer education impacts their overall revenue by increasing brand awareness, boosting product usage and decreasing churn. Yet 68% believe they could be using customer education to derive even more value—a gap that Academy Builders aims to fill.
By Emily Hubbell
As you read this article, 31.7 million small businesses are operating across the United States, delivering the goods and services that fuel a strong economy. The lifeblood of the nation, these small businesses employ 60.6 million workers; that’s nearly 50% of all U.S. employees. They create two-thirds of new jobs and represent 44% of our domestic economic activity.. Think those statistics are impressive? Get ready to watch them explode.
Before COVID-19, Bain & Company predicted that the number of entrepreneurs and small businesses in the U.S. would skyrocket to 70 million by 2030. Now, the number of Americans who own a company could eclipse 100 million in that same timeframe—a shift triggered more by necessity than opportunity. Artificial intelligence could eliminate more than 20% of current jobs by the end of the decade. And then there’s the recession, which has historically inspired high levels of entrepreneurship. But no matter the impetus for starting a business, there’s one common thread: More entrepreneurs than ever are entering the role unprepared—and unable to afford business school as a source of training.
Business owners are good for the economy. They fuel innovation, increase competition and create high-quality jobs. But as the number of entrepreneurs skyrockets, it raises a critical question: How can we educate small business owners affordably and at scale? For a growing group of innovators, the answer is “customer education:” a market segment that shifts small business training away from universities and toward the companies that entrepreneurs do business with. Among the leaders shaping this emerging space is Scott Duffy, whose Academy Builders, Inc., is launching as the race to disrupt entrepreneur education accelerates.Continue reading… “Why the Business Education of the Future Won’t be at Wharton or Stanford”