Business
Electric Vehicle Industry Faces a Manpower Void as Colleges Race to Fill It
The electric vehicle (EV) industry has developed at an unforeseen rate since catching public attention in the late 2000s. In 2023 alone, new electric car registrations in the United States reached 1.4 million, a 40% increase compared to 2022.
This surge in demand is not limited to the U.S.; Europe and China also saw significant increases in EV sales, with Europe recording nearly 3.2 million new registrations in 2023. With the market showing little signs of slowing down, EV sales are projected to reach around 17 million globally in 2024. That represents a 20% increase from the previous year.
Multiple factors, including government incentives, advancements in battery technology, and a growing consumer preference for greener transportation options, contribute to such robust growth.
Despite the positive outlook, the industry nonetheless holds its fair share of issues. Supply chain disruptions, battery metal price fluctuations, and increasing competition create market volatility.
Additionally, the sheer speed with which electric vehicles have been adopted has revealed a critical challenge: the skills gap in the workforce needed to support this burgeoning industry. The rise in EV purchases has also led to the need for a specialized workforce capable of designing, manufacturing, and maintaining these advanced vehicles.
The transition to electric vehicles requires a workforce equipped with a rather hefty and technical toolbox of skills. According to the Institute of the Motor Industry, stakeholders must urgently address retraining efforts to avoid facing a shortfall of 35,700 qualified technicians by 2030. This skills gap risks the industry’s growth and the broader goal of achieving zero-emission transportation.
To bridge this gap, educational institutions are stepping up to provide specialized training programs. Nova Anglia College(NAC) in Brisbane, Australia, is among the first to do so. NAC offers a non-engineering Bachelor of Technology in Electric Vehicles, a unique program designed to provide the theoretical knowledge and practical skills needed in the EV sector. Unlike traditional engineering programs, NAC’s curriculum combines vocational training with engineering principles.
Harpreet Kaur, the founder and CEO of Nova Anglia College, says that being one of the country’s first EV colleges, “We specifically designed and accredited our program to match near-future manpower demands. We provide specializedqualifications to support the global zero-emission initiative better.“
Skills for Future EV Professionals
The skills required for a career in the electric vehicle industry are diverse. Future EV professionals must be proficient in battery management, electric powertrain systems, and autonomous vehicle technology. Additionally, they must possess cross-domain engineering skills, including software development, electrical engineering, and electronics.
Nova Anglia College’s program is specifically designed to provide many of these skills. The curriculum includes courses on electric powertrain controls, vehicle mechanics, battery engineering, and embedded systems. Students also gain hands-on experience through industry placements and laboratory work, making them job-ready upon graduation.
Expert Projections for the Future EV Field
Industry experts agree that the transition to electric vehicles represents one of the most pivotal movements in the automotive sector since the Industrial Revolution. Josh Boone, executive director of EV advocacy group Veloz, notes, “This is one of thebiggest changes since the Industrial Revolution, and it’s not just transforming what powers the car.“
The demand for skilled professionals will only increase. Educational institutions like Nova Anglia College stand to play an essential role in preparing the workforce for this future. The need for sufficiently skilled workers must be addressed for the electric vehicle industry to continue its success.
Fortunately, with institutions like Nova Anglia College preparing the next generation, we can rest easy knowing the green revolution will keep going.
Business
Transform Your Expertise into a Profitable Online Coaching Business with Jon Penberthy
Transforming your expertise into a successful coaching business requires a strategic approach to monetizing your knowledge, with a strong emphasis on client satisfaction and adaptability to their evolving needs. By prioritizing these factors, you can build a coaching practice that flourishes, provides long-term value to your clients, and supports sustained growth for your business.
The potential for this growth is underscored by the global online coaching market, which was valued at $3.2 billion in 2022 and is projected to reach $11.7 billion by 2032, reflecting a compound annual growth rate (CAGR) of 14% from 2023 to 2032.
Jon Penberthy, founder of AdClients and a leader in online coaching, highlights the significance of the knowledge economy in today’s marketplace. He notes, “The knowledge economy is now worth over half a trillion dollars a year. That means every year, people like you and me are paying others—not for physical products, but for the exchange of knowledge.” This shift presents a compelling opportunity for those willing to leverage their expertise in this evolving market.
Penberthy’s philosophy emphasizes the power of positive thinking and challenges traditional views on credentialism and rigid professional roles. He asserts, “Nowadays you only need to be one step ahead of someone else for them to be willing to hand back some money to learn from you.” His success as a how-to coach exemplifies this approach, showing that with the right mindset, anyone can turn their knowledge into a flourishing business.
Essential Steps to Starting Your Online Business
At the heart of any business plan is the decision about what type of product you will provide in the online marketplace. Jon Penberthy explores various possibilities, from relationship counseling to pet care, ultimately settling on a widely sought-after internet offering: personal health and fitness.
“Let’s say you do not have a personal trainer certificate, but you have figured out a specific nutrition and exercise regime that works,” he states. “There are people out there who want to look how you look and are willing to pay you for your knowledge … the opportunities are endless – you just have to ask yourself what you know that is a little bit more than those around you. That’s the starting point for your own training program.”
The next step involves packaging your training for an online audience, and Penberthy recommends creating a series of recorded videos as an effective approach. This leads to the question of how much to cover in the initial video and the order of presentation.
He suggests finding friends and family who are interested in your topic and willing to learn more. By selecting a few volunteers and teaching them over several weeks for free, while taking diligent notes on what works and what doesn’t, the teaching process will gradually reveal itself.
Build a Sales Funnel
Regardless of how your business attracts customers, potential buyers often follow a similar path, asking common questions and taking comparable steps when deciding whether to make a purchase. A sales funnel is an effective way to visualize this journey, offering valuable insights into the customer experience. It helps you see the sales process through their perspective while also serving as a practical training tool for your sales team.
Penberthy highlights the importance of this approach, “A sales funnel helps transition potential customers from being strangers to ready-to-buy clients,” he explains. By breaking the process into a series of steps, the sales funnel gradually informs and engages potential customers, guiding them toward a purchase decision without overwhelming them with information.
Attracting Attention—The ‘Eyeball’ Factor
Once you’ve understood the initial steps for setting up your online coaching or course, the next challenge is attracting people to your funnel, often referred to as the “eyeball” factor. “Bringing traffic to your site involves content creation and deciding between organic (unpaid) traffic through various social media channels or, if your budget allows, paid traffic,” Penberthy explains.
Penberthy explains that with organic traffic, individuals will be active on social media, creating content designed to build an audience interested in their topic. He adds that if one can invest some funds, paid advertising—especially on YouTube—can be an excellent starting point, as it delivers instant traffic compared to the uncertain outcomes of organic posts.
Once the advertising strategy is established, the next step is to continually refine and enhance the course, making it more concise, message-rich, and easier for potential customers to understand what is being offered.
He emphasizes that this process isn’t just about feeling good about one’s work; it’s about boosting conversions. The more effective the campaign, the more referrals satisfied customers will provide when recommending the program. A stronger program also allows for higher pricing for the services offered.
After refining your online advertising strategies and advancing your course or coaching development, the next step is to scale up. Penberthy suggests that this may initially involve what he refers to as “the pop-up offer” or one-on-one coaching, enabling you to start selling your course in 48 hours or less.
He notes that this phase requires a significant investment of time but is crucial for growing your business with clients who will not only pay for your expertise but also recommend your courses to a broader audience. However, he emphasizes the need to leverage your time effectively, as there are only so many hours in a day.
The key to success in online courses lies in combining “low-ticket” (mass appeal) content with “high-ticket” one-on-one training. “I take the stand-alone low-ticket coaching and wrap it around the one-on-ones to create the concept of “high-ticket” group coaching, which is a limited-subscriber webinar-based training pitched at high-end clients who are willing to pay a premium to overcome their seeming lack of success in the online marketplace,” Penberthy says.
By implementing this strategy, he adds, you can not only maximize your time in the business space and free up energy for friends and family but also potentially increase your monthly income to four or five figures, ultimately leading to an annual income of six to seven figures.
Jon Penberthy’s insights provide a clear roadmap, emphasizing the importance of understanding your audience, leveraging effective marketing strategies, and continually refining your offerings. By combining low-ticket and high-ticket training approaches, you can maximize your reach while delivering exceptional value to your clients.
As you embark on this path, remember that your knowledge and passion can not only lead to financial success but also empower others to achieve their goals. Embrace the opportunities ahead, and watch as you build a thriving coaching business that makes a lasting impact.
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