Building a Legitimate Education Business: Lessons from Harvard

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1. Harvard is a legitimate institution with a high standard of education: Unlike scam businesses that sell education with exaggerated promises, Harvard sells education and brand endorsement, and they don't give income expectations. They also have a high dropout rate, unlike scam businesses that promise immediate success.
2. Screening and qualifying leads is crucial: Harvard rejects many applicants, and so should you. It's better to screen and qualify leads than to sell to anyone with a credit card and a pulse.
3. Publishing data and avoiding sensationalism is important: Harvard publishes data on their students' success, including the top 20% and the median. Avoid adding sensationalism to your marketing and focus on the data.
4. Give away valuable content for free: Harvard doesn't give away their secrets, but they could. Instead, they focus on the implementation and results. Give away the knowledge and sell the implementation or support.
5. Not everyone will succeed: Harvard doesn't graduate everyone, and neither should you. Set high standards and only accept people who are a good fit. This will maintain your brand reputation and ensure that the people you educate are successful.
6. Education business model: Create a high-demand education program with a high standard, and then sell the implementation or support. Give away valuable content for free and maintain thought leadership. This will lead to more demand and higher prices.
7. Data and results matter: Focus on the data and results, rather than just testimonials and stories. This will establish credibility and trust with your customers.

Overall, the key takeaway is that building a legitimate education business requires setting high standards, publishing data, and focusing on the implementation and results.

Source: How To Build A Legit Online Course (2023), Alex Hormozi