3 factors responsible for success in the Ed-tech industry

Education is amidst a major disruption. That disruption is technology, and it incorporates everything from decisions about how much and what types of hardware ought to be put in classrooms, to what types of software and apps to buy for computer-assisted guideline, to online coursework for teenagers, understudies, and grown-ups. How the greater part of this will shake out is totally up for grab.

The question here is-- What are the factors that make ed-tech startups become a major in the industry?

Research

If you are planning to cater the educational sector, then you should research well. As a business person, you can find numerous products that you can build. But before venturing in, do discover answers to these inquiries - who are your end customers, how is the market evolving and what need you are addressing.

Patience

Education is no ecommerce, or taxi business, or hyperlocal business.

Start up in education if you are in it for the long haul, that is, in any event for the next 15 to 20 years. In most types of businesses, hyper growth is one of the conceivable methods for growing. In education, nobody has seen hyper growth.

Revenue Model

You should know the behaviour of each of your stakeholders back to front, and play those to your advantage. Parents like cheap yet quality products, educational institutes like unique products that they can get from you at cheap price and sell at a much higher price.

Can you do any of these without losing money? Education does not have a quality problem; it has a pricing problem.

Building in education does not follow an Internet organization's growth curve. Do it because you need to fix problems in education for the next 20 years.