Give Them Six Months for $1

This is tragicomic:

Enrollment rates are far higher than completion rates. Many college students drop out before completing their degree. Less than 60 percent of first-time full-time students seeking a bachelor’s degree at four-year institutions in 2000-1 completed that goal at that institution within six years (it’s difficult to track students who transfer to other institutions).

In other words, enrolling in college is a bit like joining a health club. And as with a health club, the revenue comes from signing people up, not from encouraging them to use the services. [link]

It’s a tough problem, and the challenge is to find the balance between business and value. Focus on creating a product that’s valuable enough and people will see its value, even if it does take some time. The rest of the stuff usually sorts itself out. Simplistic? Yes. Cliched? Yes. But something to think about.

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