Top 5 Mistakes to Avoid When Starting an EdTech Business

Wendy Stokesby:

Business

When you decide to make own startup you should be ready for numerous challenges. There would always be ups and downs, and you must figure out how to handle such issues with smart ideas. Even education technology startups may face with situations when it seems not to be worse, but it can. Here is additional confirmation for this statement.

Story before EdTech success

Several years ago Jawwad Siddiqui published an article about EdSurge. It starts the idea with thesis: ‘We Shut Down Our Edtech Startup: Here’s What We Learned’. This sentence was a word-play and was absolutely dedicated to another EdTech project called SharpScholar. Jawwad explained that he wasn’t satisfied with the level of teaching and made such decision. Well, such failure didn’t break down the general idea, but allow finding proper strategy for project development.

The main purpose of project was to connect both users and tutors in the process of learning. And it came to life! Among the greatest achievements new project could proud be with 5000 successful students, being approved in 5 educational establishments, and getting ability to enlisted 12 professors. But no matter such great results the SharpScholar claimed its closing in 2016.

Source: Innovation Village

Such story demonstrates that each education technology startup can face with troubles but they must handle all issues. Yes, investors wait for high RTI level (return to invest), but users aspire to get great advantages. This sphere opens great opportunities for everyone including students, entrepreneurs, and world economic system in general. Although this market is full of challenges, entrepreneurs should know how to avoid most common mistakes. And this list of TOP issues with education technology startups will be quite helpful.

TOP-5 mistakes and expert recommendations

#1. No understanding in the current situation and the future of education system

If you are an average student and visit public school you are sure in own beliefs. In addition, you can buy essay, give a teacher advice, argue, and insist on own point of view. In a real life you can face with allbits challenges, adventures, and rules only being involved in this sphere.

What to do in this case: try to be patient and attentive to other people. If you really want to understand how everything works, improve own product, and become successful in the future, you should leave your truth and concern on studying.

Besides, you may continue your education in social media like Facebook, Pinterest, etc. Following different tutors will help you be in touch with new issues. Why it is important? The sphere you are interested in is constantly changed. So if your goal is to create and promote new product you should understand your target audience, its problems, issues, desires, etc.

In addition, don’t forget about traditional good manners. To create friendly atmosphere you should respect your tutor and the administrator of your school, be kind and calm person. Remember, that both you and teachers are there to improve your knowledge which will be vitally useful in the process of developing your project.

Source: Medium

#2. The lack of professional team

Unfortunately, it is a rare situation when edtech startups propose teachers to join their project. And this is a huge mistake for business because people without knowledge in pedagogy are not capable to develop modern and relevant educational product. That’s why you can see so many projects which don’t give users what they really need.

What to do in this case:invite people with proper education and experience. Besides their great investment in developing your project from the inside you will increase its social worthful. They will be more professional and useful than anyone else without experience.

With experiences and certified tutors you can make additional research, develop startup’s reputation, etc. As a result potential customers will be more interested to join your project. This is a double achievement.

#3. Having no general task

Both teachers and business managers have different points of view on one issue. It happens because they have different tasks, goals, and everyday challenges. It is okay, but ignoring the common way may harm your product.

What to do in this case:consider the culture. Entrepreneurs and teachers must work together and discuss every part of developing. Yes, both of them has own language and purposes, but to build the successful project is highly important to communicate and hear each other.

For instance, if there is a problem with startup, then teacher should explain its origin to entrepreneur who will fix it. As a result everyone will have all the trumps in hands.

Source: Getting Smart

#4. The absence of right communication

Using cold conversations like a calling or emailing is not the best way to communicate with people. In addition, it isn’t modern or progressive. If you failed with communication then hardly you could success in other aspects of making edtech startup.

What to do in this case:try to concern on building good relationships. It is great to promote your essay help product in social media, blogs, chats, etc. Such way of developing relationships allows improving your educational system and reputation of the company.

For instance, using modern approaches in teaching deserves attention and always be values by customers. No one like to use methods which are boring and unproductive.

#5. No common bottom line

Teachers and business managers have different tasks and options for the project. Yes, they are bounded together with general idea, but have different methods. It is absolutely okay, but if they lost the bottom line then there would be no way in the future.

What to do in this case:create, share, and improve your bottom line. This is the task for entrepreneurs who need to develop their purposes regarding current needs of students. If you find your bottom line it would be the best road map.

Educational system has numerous particularities when it goes about business. Different tasks in developing and teaching field, the absence of harmony inside project, the lack of communication and promotion are very frequent issues for new project. Your task is to handle situation and do not allow such mistakes to ruin your edtech startup. This is absolutely possible if you pay enough efforts!

Source: theedadvocate.org

One Reply to “Top 5 Mistakes to Avoid When Starting an EdTech Business”

  1. Avatar Rocket Payz says:

    Loved this article. Thank you for your work!

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