Curated Business Ideas : Empowering The Less Educated - Jack’s Curated Business Idea - Jack Lookman - Empowering And Inspiring Generations - Olayinka Carew

Greetings to one and all; this is Jack Lookman welcoming you to another of our series: Jack’s Curated Business Ideas.

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Today's topic is:

Empowering The Less Educated

For those watching on YouTube, the videos shall be timestamped for ease of reference.

In this content, we shall touch on the following subtopics:

The problem
The idea
Products and services
The process
Platforms
Format
Language
The content
Target audience
The team
Marketing / sales
Email list
Monetisation
Payment options
Payment gateways
Curriculum
Benefits and opportunities
Requirements for the entrepreneur
Requirements for the customer
Business plan considerations
Skills required by the business
Skills required by the end user
Threats
Legalities
Costing and pricing
Funding
Complimentary products and services
Possible byproducts
Conclusion
Disclaimer

So let's start!

What is the problem?

Let's take my native Nigeria as a case study. A small percentage of the populace is tertiary educated; some aren't educated due to lack of opportunity, poverty, etc. Some end up with low paid jobs such as being drivers, housemaids, cleaners, etc. As a result the quality of life is not optimised. This affects their youth and old age; and the effects could be generational. It impacts family life and society; some may resort to crime. They don't optimise their potential in adulthood, as work consumes them and they get stuck in challenging financial situations. This cycle may be replicated for generations; with the exception of a few, who may get out of it.

What is the idea?

The idea is to create content for the less educated people.
The content shall be on multiple digital platforms, which could be leveraged for making impact and money
Content shall be in video or audio formats.
It shall be in native languages of the end users.
The content shall add value to their work or business pursuits.
The content shall be presented in little understandable chunks.
The content shall be readily accessible via their smartphones or digital devices.
There shall also be a module on teaching them the basics of accessing the digital content.
The content shall add great value to them in the short and long term.

What are the products?

The products shall be digital content, to cover the chosen curriculum.
They shall be for the less educated demographic, in different native languages of choice.
It's like an online university for the less educated. There could be online tuition for one-to-one or one-to-many.
This tuition shall be for those who require attention and support; and shall be at additional cost. There could also be one-to-one physical tuition at a much higher cost; and maybe one-to-many physical tuition, again, at additional cost.
If appropriate, you may also have the content in text, but this won't be a priority.

The Process (Thoughts)

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Some of the thoughts to consider:

Market research
Content creation
Team
Delegation
Outsourcing
Scope
Marketing plan
Minimum viable product
Costing and pricing
Monetisation plan
Platforms
Investors
Reinvestment
Profit Sharing Formula
Systems and structures
Automation
Affiliate Marketing
Collaborations
Market research
Funding
Etc

The Platforms

These could be physical or digital. If physical, there may be a location and human contact. And, of course, there are related costs. If it's digital, it could be via:

Social media
Podcast
Membership site
Blog
Etc

Format

It could be in multiple formats, such as:

Text
Audio
Video
In different languages of choice.
It should also be in simple understandable vocabulary.

Language

Most of the demographic might be unable to speak proper English, therefore you may consider their native languages, Pidgin English or alternatives.

The Content

It shall mostly be in:

Audio and video format.
It shall be presented in little, easy-to-understand modules.
It shall have practical examples and case studies as necessary.
It shall be user-friendly.
Content of choice shall be:

Easily accessible
In multiple languages

It shall be updated as necessary
There shall also be feedback mechanisms in place in order to get the best possible outcomes.

Target Audience

The end users shall be:

Drivers
Cleaners
Housemaids
Uneducated business people
Artisans
Etc

The Team (business or project)

This shall include:

The Content Creator
Entrepreneur
Marketer
Translator / Linguist
Administrator
Accountant
Quality Controller
Human Resources
Video editor
Freelancers
Project manager
Social media manager
IT manager
Educator
Etc

Marketing

You could explore:

Digital marketing
Radio marketing
Influencer marketing
Television marketing
Social media marketing
Referrals
Word of Mouth
Affiliate marketing
Print media marketing
Email marketing
Search engine optimisation
You could explore using a sales funnel
Etc

Sales funnel / mailing list

By virtue of the service that you offer you are likely to get a mighty list of quality contacts. You should have their mobile numbers and or email addresses. You could monetise the mailing list by marketing and re-marketing products and services; both yours and those of third parties. You could create a sales funnel and automate the process. At some point you could make passive recurring income in which case you shall put in minimal ongoing effort and optimise your income.

Monetisation

You could sell the license of your products and services. That is, your content and related software.
You could do consultancy.
You could do affiliate marketing.
You could sell the business
You could advertise products and services of 3rd parties
You could have a franchise
You could do business collaborations.
You could get sponsors.
You could sell the private label rights to interested third parties.
Your digital products could actually be sold as renewable licenses.
Customers could renew them monthly, quarterly, biannually or annually. There shall be recurring payments to renew access to the content.

Seamless International Money Transfers

Payment options

These could be monthly quarterly, biannually or annually.
You could also introduce discounts. The more payment, made at a go, the higher the discount. For example, if their purchase is £10, the discount could be 1%. If the purchase is £10-£20, the discount could be 2%. If the purchase is £20-£30, the discount could be 3%; etc.
You could explore the discount model that suits you. The discount model needs to be determined by the entrepreneur or by the team and such discounts could be automated, such that at the point of purchasing the product or service it automatically calculates the discount for you.

Payment Gateways

How will the customers pay?

This could be via payment gateways such as:

Stripe
PayPal
Pioneer
Flutterwave
Paystack
Interswitch
VoguePay
Remita
GTPay
PayU
CashEnvoy
Fliqpay
OPay
Squad
Amplify
DusuPay
Or suitable alternatives.

Curriculum

What are you going to be teaching this demographics? This shall be at different levels. You might have part of the curriculum at the beginners level, intermediate level and probably at the higher level. It's up to you. Some curriculum ideas are:

Skills
Mindset
Customer services
Budgeting
Time management
People management
Resource Management
Networking
Trade
Related content
Costing
Pricing
Literacy
Numeracy
Effective communication
Resuscitation
Risk management
Health and safety
Entrepreneurship
Investment
Work ethics
Money management and literacy
Research skills
Relevant biographies or Memoir of Role Models
Etc

There could also be tests or exams as necessary.

These could be automated and could be multiple choice questions.

Benefits and Opportunities

Reduction in crime
Gainful occupation
Monetization
Job creation
Wealth creation
Skills enhancement
Entrepreneurial aspiration
Increase in GDP
Increase in tax revenue
A more educated society
Improved language skills
A fairer society
Improved IT skills
Inspiration for greater Pursuits
Empowerment and Inspiration
Passive income
Removing customers from generational cycle of poverty
Exploration of their individual untapped potential
Improved quality of life of the end users.
It makes the end user more proficient in their native language.
The costs shall be affordable
The products and services shall be easily accessible
The products and services shall be user-friendly
The business could be scaled
The products could be evergreen
Instant access to the product
Cost effective marketing

Requirements for the Entrepreneur

Some of the requirements include:

Digital device or devices
A team
Relevant skills
Positive mindset
Marketing efforts
Content creation
Finance
Profit sharing formula
App products or products
Etc

Requirements for the customer

A digital device.
Willingness to learn
A positive mindset
Business related idea or ideas
Investment in time commitment
Occupational skills
Etc

Business Plan Considerations

Team
Equipment
Marketing plan
Market research
Monetisation plan
Competitor research
Product research
Legalities
Platforms
Sales funnel
Collaboration
Investors
Profit sharing formula
Marketing

Skills required by business

Video editing
Content creation
Entrepreneurship
Outsourcing
Marketing
Project management
Language and translation skills
Interpersonal skills
Customer service skills
Administration skills
Organisation skills
Budgeting skills
Resource management skills
IT skills
Communication skills

Skills required by end user

Basic IT skills
How to use their digital device or devices
Occupational skills
Language skills
Positive mindset
Reliability
Etc

Threats

There could be a fight back from those who wish to maintain the status quo
Competition
Sabotage
Litigation
Technical problems
Government legislation
Intellectual theft
Accessibility
Affordability
Lack of interested customers
Non-accessibility of telecommunications network
Unmotivated end users
Etc

Legalities

Here are some thoughts to ponder:

Outline the agreements or contracts
Include a disclaimer
Expectation management
Intellectual rights ownership
Refund policy terms and condition
Indemnification
adherence to general data protection regulation
adherence to laws of the land
Etc

Costing And Pricing

Some considerations to have in mind are:

Profit margin
Cost of resources used

Time
Effort
Money
Cost of the team
Freelancers
Human Resources
Office

Financial investors
Equipment
Marketing and advertising
Strategizing and brainstorming
Administration
Information technology
Website hosting and domain name
Etc

Most of these things have related costs; so you need to quantify them when you're doing your costing and pricing.
You need to do this per product sold.
And need to know how much you intend to make
And if you're going to sell the product in bundles. For example, the cost of that bundle will be slightly cheaper than buying them individually; so you're tempting the customer to buy the bundle and the incentive is that it becomes a bit cheaper. Though it will be a bit cheaper for the client you make more profit than selling an individual product.
The beautiful thing about this business model is that, if you get it right you could actually generate passive income for a very long time.
It's also very scalable. You could replicate the process in different languages, and for different demographics, and of course for different subjects.

Funding

The business may be funded via:

Your personal savings
Investors
Crowdfunding
Loans
Collaboration
Grants
Family and friends
Etc

You could start small and then reinvest in the in the business.
You could also use a profit sharing formula app for fair compensation of business stakeholders

Complementary Products and Services

You could start a business with one language. For example in Nigeria, you may prioritize Pidgin English, Yoruba, Hausa, Ibo, etc; as those are the major languages.
You may create content for different niches and different demographics.
You may collaborate with relevant others.
You may promote products and services of relevant Brands and monetize via passive affiliate marketing.
You may also advertise products and services of 3rd parties on your platform.

Possible by-products

You could replicate the process for professional courses.
You could do courses on life experience.
You could do academic courses at different levels.
You could do courses on life coaching.
You could do courses on marriage, and other life topics
You could do courses on best practice
You could do courses on mannerisms
And courses on cooking
You could do courses on business etiquettes
You could become a consultant; and this could open opportunities
You could do these on your own or collaborate with third parties.

Conclusion

A lot of digital educational content is directed at those who are already educated. Those who have a degree, for instance may only account for 5 to 10% of the populace. The majority are less educated. This may be so due to lack of opportunity, poverty, non-enabling environment, poor teaching, etc. By targeting the less educated; apart from adding great value to society you shall also be exploring huge potentials, as long as you offer value at affordable costs, and market adequately.

It could be a financial game-changer for you. You could literally be rich overnight.

The cost outlay is relatively low and the return on investment could be very high. The break-even-point could be attained within a few months or years.

In marketing terms, this curated business idea may be classified as a blue ocean. That is, it's a business idea with probably little or no competition.

Disclaimer

We are also affiliate marketers. We promote products and services of third parties and get a discount at no additional cost to you.

The curated business idea on these and our other platforms are born out of creativity, experience, and exposure. You are expected to modify them to suit your needs.

Inasmuch as they are great ideas, they don't guarantee financial success.

There are many determining factors for success to be achieved. You are expected to carry out due diligence before embarking on any entrepreneurial pursuits.

Our mission at Jack Lookman Limited is to empower and Inspire Generations by leveraging the internet.

We hope that you got some value from this content. If so, please feel free to share your thoughts and comments.

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