Romy Johnson is a well-known Indian Entrepreneur, Educationalist, and Businessman who is currently based in Canada. He is the founder, owner, and CEO of Cool Gurus, Xaare and British India Academy.
On asked in his recent interview about important tips on how to set up a successful education startup, he has shared some of the key tips with us which we are going to share with you in the following.
He started saying – “Entrepreneurship is not as difficult as you think. It's about carrying out a business idea (that is profitable) that has emerged in your head.”
He added – “It's true, I'm not going to lie to you - It needs great efforts and certain skills, but if you set your mind, I'm sure you can do it.” If on the contrary, you want to undertake but you have no idea, here I will help you.
But first, you must be aware that you are going to make mistakes. It happens to all of us and you will not be the exception.
The key is to persist and never give up. Only then will you get your company moving forward.
So here I am going to show you everything you need to know, from beginning to end. You will learn from how to set up a successful education startup step by step.
1. Know your skills and talents:
There are some startups in the field of education that may be more profitable than others, and you will learn this later.
But you can't let go, control your emotions. Even if it is the most profitable business in the world, you must first take into account what you are good for.
2. Evaluate your education field:
Anyone who asks you for advice on entrepreneurship will tell you that the first thing is to evaluate your product or service. If you do not evaluate your business, you will not know if it is profitable or not for your pocket.
3. Analyze your potential customers/clients:
Knowing your potential customers is essential when starting your education startup. Why? Because if you don't know them, how are you going to know what they need in terms of knowledge?
4. Calculate how much it could cost you:
The price of your education startup is essential to start creating your venture. First, calculate the capital you have. Capital must cover business expenses until it begins to produce.
It is best to have enough money to cover the first 6 months of the education startup.
5. Plan how you could make it happen:
Once you have everything calculated, it is time to capture it on paper. To have a better idea, a business plan is your guide throughout the process of creating and selling your product or service.
6. Get the money to start:
Now that you know how much it could cost you to start your own business, you must be honest with yourself. Do you have enough money to carry it out and keep it for at least 6 months?
Romy Johnson is saying 6 months because it is a considerable time for the education startups to start producing money.
7. Launch new products or services:
In the beginning, your client portfolio will be satisfied with what you have launched. But after a while, they will want new educational products or services, never seen before. You must try to please them.
Fly your imagination and include improvements and updates, according to the suggestions made by your customers.
8. Enjoy the experience:
According to Romy Johnson, entrepreneurship is a long and difficult path in some cases, but the important thing is that you have decided to do it and that you should enjoy the path.
There will always be ups and downs, but the important thing is that you learn to see the positive side.
Live in the present, celebrate every little triumph and every goal achieved, enjoy every day where you have a hundred tasks to do to make your business a success! Remember to follow Romy Johnson @romyjohnsonofficial on Instagram and Facebook