The startup culture in India is still in its evolving stage. Ed-tech startups are part of this culture too. These type of startups are being built for children, teachers, educationalist and even visionaries. Before we go ahead, let us first understand the concept of Ed-Tech startup.
What is an Ed-tech startup?
An educational technology(Ed-tech) startup requires using adequate technology to disburse information to its target audience. The technology being used to spread information is called as “internet”. The initial step of starting an ed-tech startup begins by building a website or a YouTube channel.
But, are there any specific stages to build an Ed-tech startup?
Just like any other startup an Ed-tech startup needs to have the following things in alignment:
Good Products
An ed-tech startup is built to provide information to its audience. However, it has to sell products in order to grow as a company and/or entity. Also, these products enable companies to pay their bills, salaries and other expenses. Moreover, such products need to have their own unique selling propositions(USP’s).
Investors
If you are an investor and starting your own ed-tech startup, it could probably the best idea. However, sometimes investing your own money and not getting sufficient returns could be demotivating is also among the top reasons for closure of startups. The solution of this problem is really easy,i.e., GET INVESTORS!!!
Investors are interested in putting their money on workable startup models. At the same time, they put sufficient efforts to make sure they get the desired result. Therefore, getting investors to join and invest in your startups for a particular percentage of your company’s share is very useful.
Company Model
If you are building a startup and want it to grow, then you must have a great business model. This will not help you to get people interested in your ed-tech startup idea, but also act as guide in case of emergencies.
A verbal business model is considered not workable since the results can’t be put in figures or can be only estimated. However, structured written business models have proven to get great figurative results.
The next obvious question is:
How to grow my startup once all the basics have been clearly stated?
Well, the easiest way to know your place in the market is to be in the market, but if you are already in the market and want to grow, you can do by:
Knowing The Trends
Explore market trends as well as trendsetters and learn by viewing their profile/posts/trends. This will help you to not only become a trendsetter but also gain new ideas for the company.
Build Profiles Of Social Media
If you are an ed-tech startup and are planning to grow your company, then you must be present on as many relevant social media channels. Some of the major social media websites wherein most startups build their profiles are Google, LinkedIn, Facebook, Twitter, Pinterest, Quora and Reddit.
Build/Take Part In Community/Discussions or Forums
Communities, discussion and online forums are a great way to not only know the ongoing trends, but also to get ideas about new products. Therefore, building your own community/group/forum, etc. or being part of a few is essential for growth of any company.
Since a company grows through both online and offline presence it is equally essential to be a part of offline communities and/or forums too.
Care About Customers
If you are an Ed-tech startup, and are selling any kind of online or offline products, then it is essential to care about customers concerns. Any company which is avoiding customers inquires or falling behind to revert to them will definitely gain negative remarks. These negative remarks are visible on company’s review present on sites like Glassdoor, Google and Facebook. These intend to have a long lasting effect on the company’s reputation. Also find your target audience. Like, if you want to target civil service exams target different sections like GK, current affairs etc.
Be Engaging
Building engaging content to get more audience or for retention of already present audience on your website or YouTube channel(s). There are many ways to build an effective engaging content, such as
- a) Using keywords from Google keyword planner,
- b) Brevity of content,
- c) Creating interesting titles
- d) Making content shareable through share plugins
- e) Providing links and facts
Conclusively, to start an Ed-tech startup a company needs:
- Good Products
- Investors
- Business Model
Similarly, for growing an ed-tech startup a company needs:
- Know the trends
- Profile(s) on social media
- Build/take part in community/discussions or forums
- Care about customers
- Be engaging
Any Ed-tech startup will definitely not fail or lag behind in competition if it follows all of the startup and growth steps mentioned above.