Cutting-Edge Online Financial Strategies for the General Population
Free Book Preview Money-Smart Solopreneur
Traditionally, financial education was a privilege, reserved almost exclusively for a select few. Those who wanted to learn how forex, investment, stocks and bonds work had to go to college, not just to acquire a bachelor’s degree, but to secure a master’s degree, all of which was believed necessary to have a competitive edge. With the rise of self-quarantined education and modern technology, financial knowledge is now available to the general public in the comfort of their home.
The trend to move schools online due to Covid has lead to a rise in online educational institutions. A platform that aims to inspire people and put power back into their hands, IM Mastery Academy, is an example of this new trend to work and learn from home. However, this isn't an academy like others. This one offers ample knowledge on forex, digital currency and ecommerce markets. Established in 2013, this online academy was at the forefront of the trends, planning for the future of digital classrooms. That distant future has now fully become a reality with the rise of Bitcoin and the growing interest in cryptocurrencies from traditional investors and financial institutions. For example, I previously wrote that PayPal users would be able to buy and sell cryptocurrencies — namely Bitcoin, Ethereum, Litecoin and Bitcoin Cash — within their PayPal accounts. With the rise in cryptocurrency trends and tools, there will be an equal demand for education from the community.
A one-stop shop to financial education
Founded by entrepreneur Chris Terry, IM Mastery Academy disrupted the world of financial learning by offering top knowledge for a fraction of the cost of acquiring a high-end university degree. “I wanted to give people a real platform where they can get expert knowledge from the best in the industry, and so I thought, ‘what if I created a platform that would put all of the best resources and experts together under one roof?’” Terry recalled in an interview with me.
The demand for financial learning is stronger than ever. IM Mastery Academy currently has over 400,000 students enrolled, and that number keeps growing. The platform has managed to become the leading digital trading education resource in the world. Terry credits his success to the fact that he relentlessly pursues innovation. “I knew that ecommerce would be big, and more businesses are shifting online. So this is why we are releasing an Ecommerce Academy at our digital convention in November 2020. That platform is also expected to become the leader in the industry,” he told me.
Learning together while apart
One non-negotiable prerequisite to having a successful learning platform is to bring expert knowledge from the industry giants. Online academies are useful in times like these because they eliminate the need to travel to in-person classes, conferences, seminars and workshops. “We currently have over 200 unique experts who bring to the table strategies and mentorship," Terry said. "We ‘meet’ online via software similar to Zoom that we developed for our customers. The demand for online learning is genuinely snowballing right now, and we just invested $3 million into our technology to prepare for the future.
Having exclusive access to financial experts has proven to be a game-changer for many people who have long wanted to take charge of their economic well-being. Online academies need to develop their own in-house tools for improved learning and management, which propels the company even faster toward success. In 2020 and beyond, the need for online education is ballooning — and that has some positives. The more demand there is for online classes, the more software companies innovate and the more diverse tools and programs become. Online classes are becoming a breeze and now require little to no equipment other than smartphones and laptops. Resources are widely available, as well, and so is access to bright minds. While in the past, people had to fly thousands of miles to trade shows and conferences, connections can now be made with a few simple clicks.
Related: The Simple Question That Can Spark Innovation for Your Business
Social media is a powerful tool in financial learning as well because people can reach out to their favorite coaches and entrepreneurs and ask a question on Twitter, Facebook or Instagram. Since entrepreneurs and speakers strive to gain exposure and build a brand, they more often than not host live chats, where they bestow financial knowledge upon anybody who’s interested, regardless of their location in the world.
Breaking down complex financial jargon
People think financial learning is complicated due to its inherent jargon. It's hard for the average person to comprehend terminology that seemed to be reserved for Wall Street bankers. Modern financial educational institutions must make sure to eliminate the need for such gatekeepers, resulting in reorienting the power base toward the individual investor. “We’ve made all the material digestible, easy to comprehend for the average person. First and foremost, the way to learn and retain new things is to understand them. Our courses don’t have any of those complicated terms that trip people up,” said Terry.Breaking into Bitcoin and cryptocurrency trading isn't easy. With the trend of Bitcoin on the rise, everyone is looking for new ways to earn passive income. The advantage of online educational institutions is that you can learn about anything in the world no matter where you are. Heightening awareness and education surrounding the very risky tools involved in these kinds of financial services and platforms is critical. Providing more financial inclusion from the bottom will eventually result in equal opportunities for all. What will truly make a change in the world comes down to giving people the right tools and teaching them how to use them.