On-campus education vs. online education! Is one better than the other? Can one completely replace the other? Indeed it seems that online education is the way of the future. Educational institutions, corporations and government organizations alike already offer various forms of electronic teaching. However, can a computer truly replace a teacher and a blackboard?How people learnEach individual has a form of learning that suits them best. Some individuals achieve fantastic results in courses taught online, however most people drop out of 100% computer-led courses. Educational institutions, as well as companies in carrying out staff training, must recognize that there is no ideal way to carry out the teaching of a large group of individuals, and so must design programs that best suits the needs of the group as a whole.People learn using multiple senses. This involves learning through both theoretical components of a course, as well as social interaction with both instructors and other students. Students learn from each other’s mistakes and successes, not just from what they are told by instructors.Each individual student has an ideal learning pace. Instructors are therefore faced with the challenge of designing courses that move forward such that those students with a slower learning pace do not get left behind, while not moving so slowly that students with faster learning paces get bored.Online educationIn the age of high-speed information transfer, online education is becoming a popular and cheap means for delivering teaching to individuals outside the classroom, and in some cases all over the world. Teaching can be via CD, websites, or through real-time online facilities such as webcasts, webinars and virtual classrooms. However, different methods of online education each have their own advantages and disadvantages.Online education is still a relatively new concept, and in many respects still in the teething stages. As such, various problems arrive across different online education environments. For example:1. Lack of immediate feedback in asynchronous learning environments: While some online education environments such as webcasts, webinars and virtual classrooms operate live with the addition of an instructor, most do not. Teaching that is delivered through a CD or website, although having the advantage of being self-paced, provides no immediate feedback from a live instructor.2. More preparation required on the part of the instructor: In an online education environment, an instructor can not simply stand in front of a whiteboard and deliver a class. Lessons in online education environments must be prepared ahead of time, along with any notes and instructions that may accompany the teaching.In many cases it would also be necessary that the instructor not only understands the concepts being taught, but the technology used to deliver that teaching. This therefore increases the skill-levels needed of online education instructors, placing greater demand on educational institutions.Staffing levels may also be higher for courses run in an online education environment, requiring for example:The Instructor – able to teach both course content and be skilled in the use of technologies involvedThe Facilitator – to assist the instructor in delivering content, but may do so remotelyHelp Desk – to offer assistance to instructors, facilitators and students in the use of both software and hardware used to deliver the course.3. Not all people are comfortable with online education: Education is no longer only sought by the world’s youth. With an increased trend towards adult and continuing education, there is a need to design courses suitable for students over a larger age-range, as well as students from different and varied backgrounds. It is difficult, however, to design online education environments suitable for everyone.4. Increased potential for frustration, anxiety and confusion: In an online education environment, there are a greater number of parts making up the system that can fail. Server failures may prevent online courses from operating. Software based teaching applications may require other specific components to operate. Computer viruses may infect software necessary to run online education environments. If these systems are complex, students may choose the ease of On-campus education rather than taking the additional time and effort necessary to master the use of online education systems.5. The Digital Divide: Many people who live in remote areas and developing countries do not have access to computers, making any form of online education virtually impossible. For this reason, online education is only able to be targeted at the people lucky enough to be able to take advantage of the technology involved. Similarly, offering live teaching across the world means that different time zones and nationalities increase the demand for multi-skilled instructors.In addition to these, there are also several legal issues associated with maintaining an online education environment. For example, intellectual property laws, particularly those relating to copyright, may or may not fully cover electronically created intellectual property. For example, information on a website is not necessarily considered to be public domain, despite being available to everyone. However, the Australian Copyright Act was amended in 2001 to ensure that copyright owners of electronic materials, including online education environments, could continue to provide their works commercially.On-Campus EducationStill the most common form of instruction is traditional classroom-style learning. These instructor-led environments are more personal than online education environments, and also have the advantage of allowing for immediate feedback both to and from student and teachers alike. However, the classroom allows for less flexibility than courses run in online education environments.Instructors in modern classroom environments are still able to take advantage of several forms of electronic teaching tools while still maintaining the atmosphere associated with the traditional classroom environment. For example, PowerPoint slides can be utilized instead of a whiteboard or blackboard. Handouts can be distributed via course websites prior to the event. However, on the day, students are still able to actively participate in the lesson.Like online education environments, On-campus education comes with certain drawbacks, the most common of which is the classroom itself. This requires a group of people which, in a university for example, could reach a few hundred people in size, to gather in the same place at the same time. This requires enormous time and financial commitment on behalf of both the students and the educational institution.However, it is this sort of environment that is most familiar to students across the world. People of all ages can access a classroom environment feeling comfortable with the way that a classroom-run course is carried out. Older students who may not be comfortable with the use of information technology are not required to navigate their way through possibly complex online education environments, making On-campus education the most accessible form of teaching.On-campus education has one advantage that 100% electronically delivered courses can not offer – social interaction. Learning comes from observing, not only what is written on a page or presented in a slideshow, but what is observed in others. Most students are naturally curious, and so will want to ask questions of their instructors. The classroom environment allows students to clarify what is being taught not only with their instructors, but with other students.So, Which is Better?There is no style of instruction that will best suit every student. Studies have shown (Can online education replace On-campus education) that courses where online education is used to complement On-campus education have proved more effective than courses delivered entirely using only one method. These courses take advantage of both online education materials and a live instructor, and have produced results higher than those of students in either 100% online education or classroom environment courses. Students have the advantage of the immediate feedback and social interaction that comes with the classroom environment, as well as the convenience of self-paced online education modules that can be undertaken when it best suits the student.It would seem that online education environments will never completely replace On-campus education. There is no “one size fits all” method of teaching. Teaching styles will continue to adapt to find the method that best fits the learning group. Using a mix of online education environments and classroom sessions, educational institutions, corporations and government organizations can ensure that training is delivered that is convenient and effective for both instructors and students alike.
Computer games boost in popularity due to the continuous increasing numbers of Internet users. As long as the majority of people in the world will keep using the Internet, games will continue rising in number as well. Most of them are very cool games that could be played by kids and adults. A lot of creative games are widely distributed in the market industry. They are being published to various individuals via the web. The reasons for this distribution are to promote new games and make their names well-known to the public in order to share the outputs of creativity possessed by the programmers and designers who created fantastic plays.Considering the fact that technologies nowadays are constantly advancing. As time goes by, lots of new discoveries were launched. Among these discoveries are online games that were created by knowledgeable and highly talented individuals. With modern equipments, they were able to practice their skills by implementing the knowledge they have learned. Modern tools are included in the main elements of gaming today. Game consoles and personal computers are popular game devices until now. But, the usual equipments that are being used by the majority of Internet users and gamers are personal computers as these are easier devices that can be operated easily. In fact, using computers is lot easier now because even children are already aware of these devices. In schools, as early as possible you would be taught on how to operate and how to use the Internet.Basic programming concepts are also parts of the regular curriculum of students in almost all schools today. Thus, many young people are already aiming that they would become programmers and they would become software makers in the future. It is natural for people to like the features of games as these are really fascinating outcomes brought by programming. A lot of games today are well crafted with amazing features and easy operating options hence even children can learn how to play them. Complex play-offs that are simple for adults are now available also for kids. They can play difficult games as well like what adults are usually playing as long as they are really interested to learn operating these games. Nowadays, you would be amazed when you watch computer game competitions, because there are many instances that children are competing with adults. This shows how competitive kids now when it comes to game.Cool online games are also considered as arcade games, as they are played using computers and computer-like devices. The modernization of the world now is indeed far different on what people had before. Today, lots of computer forms, sizes, and types are present in various stores.Computer shops that are selling various models of computers are all around. It is also natural for computers to decrease their values within few months only, as they are easily replaced with new versions. The cost values of these modern devices are already affordable because people already considered them as needs. They already treat these tools as parts of daily living.It is not enough for gamers to have standard computers only; they would really aim to have high-level ones that are capable of holding large amount of graphics. They want those computers that can accommodate huge number of games, thus upgrading is not unusual for them. Gamers will really upgrade their computers to enhance their memory capacities and graphics capabilities. Video cards seem to be expensive, most especially those are very powerful ones, but still gamers will do all their best to save money in order to afford them. Video cards are specifically made for games, as they will improve computer graphics. These are made to increase the qualities of magnificent games whether online or not.Since most games nowadays are played via the Internet, therefore gamers can really benefit by having high quality video cards attached to their computers. Having upgraded computers can let you play any game that is programmed to give realistic adventures and remarkable fun. The more advanced computer is the more realistic games are.With the wonders of the Internet, not only gamers can enjoy a great variety of online games but non-gamers as well also. Even non-gamers would surely appreciate different kinds of Internet games. They can view a variety of games as long as they have access in the Internet. They can easily search what types of play-offs they would like to play. Different genres of play-offs can be available online in just few clicks away.Searching for games now would just require less effort and time. In the comfort of your home, you could compete with your friends wherever they are located. You can interact with other people in various people in the world through gaming. The more you can enjoy playing games when you are competing with real humans instead of playing with computer-operated opponents.Gaming experience will certainly become more memorable and realistic when you are open in embracing the new innovations of games online. You can benefit by the new versions of advanced play-offs today when you have advanced gaming devices as well. Nowadays, games are not just played with computers; having computer-like devices, such as computer tablets and high-end mobile phones, cool games could be conveniently played anywhere. These are handy devices that you can carry wherever you are. Their light features can bring you an advantage of playing anywhere you like, even in dark areas. Creating games is also easier when you have these advanced technologies and you are aware of the advanced concepts of programming.Bring the entertainment world of games with you anywhere, anytime with the magnificent cool games offered by Fun Fast Game, of which you can experience memorable game play experience on your PC and mobile phone.
WHAT IS REVENUE-BASED FINANCING?Revenue-based financing (RBF), also known as royalty-based financing, is a unique form of financing provided by RBF investors to small- to mid-sized businesses in exchange for an agreed-upon percentage of a business’ gross revenues.The capital provider receives monthly payments until his invested capital is repaid, along with a multiple of that invested capital.Investment funds that provide this unique form of financing are known as RBF funds.TERMINOLOGY- The monthly payments are referred to as royalty payments.- The percentage of revenue paid by the business to the capital provider is referred to as the royalty rate.- The multiple of invested capital that is paid by the business to the capital provider is referred to as a cap.CASE STUDYMost RBF capital providers seek a 20% to 25% return on their investment.Let’s use a very simple example: If a business receives $1M from an RBF capital provider, the business is expected to repay $200,000 to $250,000 per year to the capital provider. That amounts to about $17,000 to $21,000 paid per month by the business to the investor.As such, the capital provider expects to receive the invested capital back within 4 to 5 years.WHAT IS THE ROYALTY RATE?Each capital provider determines its own expected royalty rate. In our simple example above, we can work backwards to determine the rate.Let’s assume that the business produces $5M in gross revenues per year. As indicated above, they received $1M from the capital provider. They are paying $200,000 back to the investor each year.The royalty rate in this example is $200,000/$5M = 4%VARIABLE ROYALTY RATEThe royalty payments are proportional to the top line of the business. Everything else being equal, the higher the revenues that the business generates, the higher the monthly royalty payments the business makes to the capital provider.Traditional debt consists of fixed payments. Therefore, the RBF scenario seems unfair. In a way, the business owners are being punished for their hard work and success in growing the business.In order to remedy this problem, most royalty financing agreements incorporate a variable royalty rate schedule. In this way, the higher the revenues, the lower the royalty rate applied.The exact sliding scale schedule is negotiated between the parties involved and clearly outlined in the term sheet and contract.HOW DOES A BUSINESS EXIT THE REVENUE-BASED FINANCING ARRANGEMENT?Every business, especially technology businesses, that grow very quickly will eventually outgrow their need for this form of financing.As the business balance sheet and income statement become stronger, the business will move up the financing ladder and attract the attention of more traditional financing solution providers. The business may become eligible for traditional debt at cheaper interest rates.As such, every revenue-based financing agreement outlines how a business can buy-down or buy-out the capital provider.Buy-Down Option:The business owner always has an option to buy down a portion of the royalty agreement. The specific terms for a buy-down option vary for each transaction.Generally, the capital provider expects to receive a certain specific percentage (or multiple) of its invested capital before the buy-down option can be exercised by the business owner.The business owner can exercise the option by making a single payment or multiple lump-sum payments to the capital provider. The payment buys down a certain percentage of the royalty agreement. The invested capital and monthly royalty payments will then be reduced by a proportional percentage.Buy-Out Option:In some cases, the business may decide it wants to buy out and extinguish the entire royalty financing agreement.This often occurs when the business is being sold and the acquirer chooses not to continue the financing arrangement. Or when the business has become strong enough to access cheaper sources of financing and wants to restructure itself financially.In this scenario, the business has the option to buy out the entire royalty agreement for a predetermined multiple of the aggregate invested capital. This multiple is commonly referred to as a cap. The specific terms for a buy-out option vary for each transaction.USE OF FUNDSThere are generally no restrictions on how RBF capital can be used by a business. Unlike in a traditional debt arrangement, there are little to no restrictive debt covenants on how the business can use the funds.The capital provider allows the business managers to use the funds as they see fit to grow the business.Acquisition financing:Many technology businesses use RBF funds to acquire other businesses in order to ramp up their growth. RBF capital providers encourage this form of growth because it increases the revenues that their royalty rate can be applied to.As the business grows by acquisition, the RBF fund receives higher royalty payments and therefore benefits from the growth. As such, RBF funding can be a great source of acquisition financing for a technology company.BENEFITS OF REVENUE-BASED FINANCING TO TECHNOLOGY COMPANIESNo assets, No personal guarantees, No traditional debt:Technology businesses are unique in that they rarely have traditional hard assets like real estate, machinery, or equipment. Technology companies are driven by intellectual capital and intellectual property.These intangible IP assets are difficult to value. As such, traditional lenders give them little to no value. This makes it extremely difficult for small- to mid-sized technology companies to access traditional financing.Revenue-based financing does not require a business to collateralize the financing with any assets. No personal guarantees are required of the business owners. In a traditional bank loan, the bank often requires personal guarantees from the owners, and pursues the owners’ personal assets in the event of a default.RBF capital provider’s interests are aligned with the business owner:Technology businesses can scale up faster than traditional businesses. As such, revenues can ramp up quickly, which enables the business to pay down the royalty quickly. On the other hand, a poor product brought to market can destroy the business revenues just as quickly.A traditional creditor such as a bank receives fixed debt payments from a business debtor regardless of whether the business grows or shrinks. During lean times, the business makes the exact same debt payments to the bank.An RBF capital provider’s interests are aligned with the business owner. If the business revenues decrease, the RBF capital provider receives less money. If the business revenues increase, the capital provider receives more money.As such, the RBF provider wants the business revenues to grow quickly so it can share in the upside. All parties benefit from the revenue growth in the business.High Gross Margins:Most technology businesses generate higher gross margins than traditional businesses. These higher margins make RBF affordable for technology businesses in many different sectors.RBF funds seek businesses with high margins that can comfortably afford the monthly royalty payments.No equity, No board seats, No loss of control:The capital provider shares in the success of the business but does not receive any equity in the business. As such, the cost of capital in an RBF arrangement is cheaper in financial & operational terms than a comparable equity investment.RBF capital providers have no interest in being involved in the management of the business. The extent of their active involvement is reviewing monthly revenue reports received from the business management team in order to apply the appropriate RBF royalty rate.A traditional equity investor expects to have a strong voice in how the business is managed. He expects a board seat and some level of control.A traditional equity investor expects to receive a significantly higher multiple of his invested capital when the business is sold. This is because he takes higher risk as he rarely receives any financial compensation until the business is sold.Cost of Capital:The RBF capital provider receives payments each month. It does not need the business to be sold in order to earn a return. This means that the RBF capital provider can afford to accept lower returns. This is why it is cheaper than traditional equity.On the other hand, RBF is riskier than traditional debt. A bank receives fixed monthly payments regardless of the financials of the business. The RBF capital provider can lose his entire investment if the company fails.On the balance sheet, RBF sits between a bank loan and equity. As such, RBF is generally more expensive than traditional debt financing, but cheaper than traditional equity.Funds can be received in 30 to 60 days:Unlike traditional debt or equity investments, RBF does not require months of due diligence or complex valuations.As such, the turnaround time between delivering a term sheet for financing to the business owner and the funds disbursed to the business can be as little as 30 to 60 days.Businesses that need money immediately can benefit from this quick turnaround time.