Comments on: UniversityTutor Revenues Fall By 50% http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/ How to Quit Your Job and Start Your Own Business Mon, 15 Mar 2010 06:09:06 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Behind The Scenes Numbers From UniversityTutor.com (Revenue & Expenses) http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/comment-page-1/#comment-5548 Behind The Scenes Numbers From UniversityTutor.com (Revenue & Expenses) Mon, 15 Feb 2010 23:00:20 +0000 http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/#comment-5548 [...] it did.  Two years is a long time!  But then again I’m always impatient and there were some failed experiments along the way which slowed things [...] [...] it did.  Two years is a long time!  But then again I’m always impatient and there were some failed experiments along the way which slowed things [...]

]]> By: Mononucleosis http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/comment-page-1/#comment-1955 Mononucleosis Mon, 01 Jun 2009 22:19:48 +0000 http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/#comment-1955 Even though I graduated from the University, English is still my weakest due to the fact that I'm hearing impaired. I struggled a lot. I wanted to know how others find a good English tutor. Even though I graduated from the University, English is still my weakest due to the fact that I’m hearing impaired. I struggled a lot. I wanted to know how others find a good English tutor.

]]> By: Brian Armstrong http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/comment-page-1/#comment-1952 Brian Armstrong Sun, 31 May 2009 22:49:26 +0000 http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/#comment-1952 Great points Dan...I think you're right that it would work better for online tutoring. Tutor.com is doing some of this with a proprietary app they built. It's successful. I'm interested in exploring the online tutoring market...although I haven't found a great technology which fits it well yet. It works well for some subjects (translation, editing papers, etc) but not for most thinks that use math or science (it's drastically slower to input math stuff unless both participants have a tablet pc, then there are always network/latency problems, etc). But I love your quote about attempting something great. Most people are afraid to fail..thanks for the reminder and keep me updated on your projects as well! Brian Great points Dan…I think you’re right that it would work better for online tutoring. Tutor.com is doing some of this with a proprietary app they built. It’s successful. I’m interested in exploring the online tutoring market…although I haven’t found a great technology which fits it well yet. It works well for some subjects (translation, editing papers, etc) but not for most thinks that use math or science (it’s drastically slower to input math stuff unless both participants have a tablet pc, then there are always network/latency problems, etc).

But I love your quote about attempting something great. Most people are afraid to fail..thanks for the reminder and keep me updated on your projects as well!
Brian

]]> By: Brian Armstrong http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/comment-page-1/#comment-1951 Brian Armstrong Sun, 31 May 2009 22:46:45 +0000 http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/#comment-1951 Hi Erica...thanks for the tips. I think you're right. $9 sounds about the same as $5. I may test that one as well next. Thanks! Hi Erica…thanks for the tips. I think you’re right. $9 sounds about the same as $5. I may test that one as well next. Thanks!

]]> By: Brian Armstrong http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/comment-page-1/#comment-1950 Brian Armstrong Sun, 31 May 2009 22:45:37 +0000 http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/#comment-1950 Agreed...we can't focus too much on the past and wonder what if, it's not productive :) Agreed…we can’t focus too much on the past and wonder what if, it’s not productive :)

]]> By: Dan Sharp http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/comment-page-1/#comment-1948 Dan Sharp Sat, 30 May 2009 05:10:00 +0000 http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/#comment-1948 Brian, I'm sorry to hear that online payments didn't work out. Your analysis, though, seems spot on... it's just too bad it wasn't so obvious beforehand. I think the beauty of online payments really only shines through when the entire transaction/experience is online. With tutoring, as you mentioned, the actual experience is offline, so managing the financial aspect of it solely online is problematic. I wonder, though: would there be a market for online, video conference style tutoring? Using Skype/Yugma and maybe desktop sharing or shared whiteboarding? Something like that, if it worked, would be a better candidate for online payments because the whole tutoring session would be online anyway. I do agree with you on your final conclusion: if we aren't willing to try, then why bother with it at all? Being an entrepreneur means trying things. Most of the famous ones failed quite a bit before they succeeded. We just usually hear only about their success. BTW, I have taped onto the middle of my laptop, where I look at it all the time, the following quote I got from a fortune cookie: "I would rather attempt something great and fail than attempt to do nothing and succeed." It's been a mantra of sorts to me recently. So consider your attempt and failure merely another stepping stone on the path of success! -Dan Brian,

I’m sorry to hear that online payments didn’t work out. Your analysis, though, seems spot on… it’s just too bad it wasn’t so obvious beforehand. I think the beauty of online payments really only shines through when the entire transaction/experience is online. With tutoring, as you mentioned, the actual experience is offline, so managing the financial aspect of it solely online is problematic.

I wonder, though: would there be a market for online, video conference style tutoring? Using Skype/Yugma and maybe desktop sharing or shared whiteboarding? Something like that, if it worked, would be a better candidate for online payments because the whole tutoring session would be online anyway.

I do agree with you on your final conclusion: if we aren’t willing to try, then why bother with it at all? Being an entrepreneur means trying things. Most of the famous ones failed quite a bit before they succeeded. We just usually hear only about their success.

BTW, I have taped onto the middle of my laptop, where I look at it all the time, the following quote I got from a fortune cookie:

“I would rather attempt something great and fail than attempt to do nothing and succeed.”

It’s been a mantra of sorts to me recently.

So consider your attempt and failure merely another stepping stone on the path of success!

-Dan

]]> By: Erica Douglass http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/comment-page-1/#comment-1946 Erica Douglass Thu, 28 May 2009 17:52:09 +0000 http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/#comment-1946 Thoughts: The web hosting industry commonly uses a $5/month or $50/year model (or $10/$100.) I wouldn't go lower than that for the annual price. Also, the difference between $5 and $8/month shouldn't be that much. It's the psychological jump to 2 digits that's getting people. (I have tested this; but YMMV.) Offering $9/month + a 10% coupon also converts better than just $8/month. -Erica Thoughts: The web hosting industry commonly uses a $5/month or $50/year model (or $10/$100.) I wouldn’t go lower than that for the annual price.

Also, the difference between $5 and $8/month shouldn’t be that much. It’s the psychological jump to 2 digits that’s getting people. (I have tested this; but YMMV.)

Offering $9/month + a 10% coupon also converts better than just $8/month.

-Erica

]]> By: Chuck Cohn http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/comment-page-1/#comment-1943 Chuck Cohn Wed, 27 May 2009 20:07:23 +0000 http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/#comment-1943 All relevant points. Why not try it in a single market (like Boston or wherever)? I'm not sure how converting tutoring inquiries to sales compares to converting Match.com inquiries to whatever it is users at Match.com are seeking, but I bet that tutoring inquiries have a higher conversion rate. All relevant points. Why not try it in a single market (like Boston or wherever)? I’m not sure how converting tutoring inquiries to sales compares to converting Match.com inquiries to whatever it is users at Match.com are seeking, but I bet that tutoring inquiries have a higher conversion rate.

]]> By: Brian Armstrong http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/comment-page-1/#comment-1939 Brian Armstrong Wed, 27 May 2009 19:58:53 +0000 http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/#comment-1939 Hey Chuck...good idea. I think you are spot on with the idea that you should avoid asking for any money until AFTER you've delivered the value whenever possible. So asking for $10/month up front is harder than them getting paid and leaving a bit for you after. The closer you can make it the better. That being said, I'm a little hesitant on your idea specifically for a few reasons: 1. I think they did this on match.com and the big problem was people kept trying to circumvent it, so tutor's would put in their profile "don't use contact form just email me directly" or a myriad of other ways, and it becomes a game of cat and mouse at that point 2. parents may get frustrated sending out contacts and often getting no response (this was again a problem on match.com) What do you think? Hey Chuck…good idea. I think you are spot on with the idea that you should avoid asking for any money until AFTER you’ve delivered the value whenever possible. So asking for $10/month up front is harder than them getting paid and leaving a bit for you after. The closer you can make it the better.

That being said, I’m a little hesitant on your idea specifically for a few reasons:

1. I think they did this on match.com and the big problem was people kept trying to circumvent it, so tutor’s would put in their profile “don’t use contact form just email me directly” or a myriad of other ways, and it becomes a game of cat and mouse at that point

2. parents may get frustrated sending out contacts and often getting no response (this was again a problem on match.com)

What do you think?

]]> By: Chuck Cohn http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/comment-page-1/#comment-1938 Chuck Cohn Wed, 27 May 2009 17:44:19 +0000 http://www.startbreakingfree.com/945/universitytutor-revenues-fall-by-50/#comment-1938 Brian, Have you thought about having a model in which tutors list for free and get notified that they've received an inquiry and then have to pay to view the contact information? For instance, parent attempts to contact tutor through your site. Tutor gets an e-mail that says "You've received an inquiry: Jane S. has contacted you. Her message says: "I need a calculus tutor in the New York City area. Please contact me". Contact info: 212-XXX-3454. To view Jane S.'s contact info, login to UniversityTutor.com and pay $5. The difference here is that tutors have an immediate incentive to pay is the inquiry interests them. They can pay $5 and immediately get $20+. The value proposition is more apparent especially to a college student that is hesitant to part with $10 per month for money that they won't receive for a few weeks. Hope this gets the wheels turning. Chuck Brian,

Have you thought about having a model in which tutors list for free and get notified that they’ve received an inquiry and then have to pay to view the contact information? For instance, parent attempts to contact tutor through your site. Tutor gets an e-mail that says “You’ve received an inquiry: Jane S. has contacted you. Her message says: “I need a calculus tutor in the New York City area. Please contact me”. Contact info: 212-XXX-3454. To view Jane S.’s contact info, login to UniversityTutor.com and pay $5.

The difference here is that tutors have an immediate incentive to pay is the inquiry interests them. They can pay $5 and immediately get $20+. The value proposition is more apparent especially to a college student that is hesitant to part with $10 per month for money that they won’t receive for a few weeks.

Hope this gets the wheels turning.

Chuck

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