Everyone has plenty of ideas, but few people make them happen. Breathing life into an idea can be difficult.
The difference between design and execution is the difference between a daydream and reality. To turn your ideas into an edtech startup, you’ll need a concept that you can articulate, research that validates your work, and enough funding to get your business launched.
Let’s look at the steps.
Concept
Your business idea is only a concept until you can get it up and running. Once you’re off the ground, the idea becomes a start-up.
To develop your idea into a startup, you’ll have to be able to put it in writing or at least be able to deliver cogent sentences explaining what it is your business does. Whether spoken or written, your business concept statement is the foundation of all your work.
Successful entrepreneurs avoid generalizing their work; they talk about their startup’s specific parameters.
Research
You may think you’re only dealing with code when you’re creating an edtech startup, but in reality, research from education, neuroscience, sociology, and psychology will have an impact on the decisions you make.
Knowing current research can help you decide which features or processes your edtech business needs. You can be a part of the research process by gathering data, and this data, in turn, can assist you in developing new iterations.
Funding
Edtech startups can empty your wallet and max out your credit limits. While that’s one way to fund your dream, you can also consider working with accelerators and incubators that provide venture funding.
You may also wish to consider crowdfunding with an organization like Kickstarter or Indiegogo.
It’s Just Business
Your edtech startup is a business, and that means branding your company as a business. By protecting what you build through an LLC or S-corp, you are making sure that the company is liable, not you personally.
The Launch
Even if you have the best edtech startup in the world, no one will care unless they know it’s available. You have to get you your product in front of people so they’ll love it and buy it.
That means launching a marketing campaign that includes social media and traditional advertising, as well as attending trade shows and conferences.
Your greatest idea doesn’t have to lie dormant. Bring your edtech startup to life with a plan of action that includes your business concept, research, funding and launch ideas.
