Sustaining your ed-tech startup in the post-pandemic world: A brief guide

The global pandemic, one of the most unprecedented events in recent history, created widespread disruption for businesses across verticals, and the education sector has been at the forefront. Yet, despite the disruptions, ed-tech is one of the few industries that witnessed tremendous growth as learners of all ages have adapted to online learning.

However, now that the pandemic has eased, it's imperative for the ed-tech startups that have emerged from the crisis triumphantly to continue their growth momentum in the post-pandemic world. To continue this, they are adapting to the hybrid teaching models alongside other changes in their business and operational models. However, to thrive in the new world order, it’s essential to be an organization that is forward-looking in all aspects.

On that note, here are some tips for sustaining your ed-tech startup in the post-pandemic era.

Flexibility is key

In a volatile environment, being flexible is crucial. Be open to new ideas and technologies, and keep innovation at the heart of your strategy. Enhancing adaptability in this challenging time is vital to sustaining the competition. Don't give up on your passion simply because one idea didn’t work. Instead, stay lean and stick to the aim. Building more soft assets such as deriving value from customer insights rather than bulking up on infrastructure can work wonders.

Empathetic leadership will win employees

In the simplest terms, empathetic leadership is the ability to understand the needs and aspirations of others and approach them with a positive perspective. Having compassionate leaders who can see beyond their problems makes an organization better equipped for the future, come what may. Employees today are no longer attracted to an organization solely based on remuneration. Instead, they look for empathetic leaders and a flexible environment that offers a work-life balance. Inspiring leadership is integral to business, especially when it’s about rebuilding society after the pandemic and motivating the employees to return to work.

A digital-first model is the need of the hour

A digital-first approach is the key to success in the 21st century, where technology has taken centre stage. Digital-first means understanding how technology can be used to mitigate risk and improve operational efficiency through automation. A social media strategy with clearly defined objectives aligned with the overall business strategy will also build a solid business model. The benefits of online presence encompass connecting with the target audience while reducing costs and improving the overall experience through adequate customer support. Robust infrastructure with enhanced security is essential to survive and grow today.

Budgeting is fundamental

Laser beaming your targets with a budget helps focus on the end goal and prevents unnecessary spending. The aim is to offer personalized content in a bite-sized format. So, the expenses should align with these motives to avoid derailment of the business. Optimizing the budget to match your priorities is the best approach to nurturing a business. This is all the more crucial for post-pandemic damage control. Severing defunct parts of the business process at the right time can help keep the core business afloat.

Creating a value model will go a long way

In addition to incorporating innovative learning content, thinking beyond the textbook is vital in modern times. You can use technology to create a compelling and engaging learning experience. For example, consider gamification a tool to help your startup stand out and prepare learners better through experiential learning.

Stay goal-oriented

SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is a tool to help identify what is working and what is redundant in your business. Conducting a SWOT analysis will help you get back on track after the COVID-19 pandemic hits hard on company operations. Focus on the short-term goals and elongate your intended journey for better results in the present.

You can also raise additional funding if you have concrete plans to run the business. Since students are the heart of ed-tech, ensure they are getting what they deserve and more. Good sales reps are important, but onboarding good teachers are indispensable. Building a comprehensive training module using AI/ML can also work wonders by offering real-time data analytics for personalized mentoring.

Final Word

There are several ways to ensure that your ed-tech startup does not meet an early end when the industry is poised to reach a $30 billion valuation in the coming decade. One way is by ensuring that the learning content and platform are user-friendly. Another way is by being aware of what goes into doing a successful business and innovating rather than just following trends.

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