How to be a Happy Edupreneur?
I have given a live webinar on this topic here with Mathematical Spaces.
You can watch it here for a better impact.
I am an edupreneur.
I am happy.
This article is all about the theory and the practical steps in becoming a happy edupreneur.
Who is an edupreneur?
An entrepreneur, who works in the education domain.
Who is an entrepreneur?
An entrepreneur is someone, who
- Solves a problem in society and, adds value to the society.
- Builds a proper team for the goal, and creates employment opportunities.
- Makes a dedicated process towards the growth of the product and the team.
What should be the mentality of a Happy Entrepreneur?
To impact the lives of the people positively, with an abundance mindset. This will make you happy. This will make sow the seeds of an entrepreneur in you.
Two Equivalent Theories of Business, I follow
Simon Sinek’s Start With Why
- Why → The Goal
- What → Specify the Goal
- How → The Process and the Team
3 Ps of Business
- Product → Your Why, The Problem’s Solution
- People → Internal People, External People
- Process → A Well Defined Process
3D1P →The Theory of Resource Management
There are two resources:
Make sure you properly use it.
The 3D1P Theory for Process and People Management
- Define → Define the tasks explicitly, aligned with the goal.
- (People) Divide → Distribute the tasks among the workforce.
- (Time) Deadline → Give a deadline to the tasks.
- Progress → Check Progress. (This is boring, but a decisive step to evaluate the team.)
How to make the product better?
- Hit and Trial with the ideas.
- Take feedback from the customers and people around you.
- Be consistent.
How to startup?
Don’t stay hungry.
Make sure, when you are starting up, you have a consistent “okay” flow of income. Good things take time. You have to keep your bowl non-empty, every day till things start happening. If not, make sure it happens, before you move on to the next step.
I made sure that I have a minimal steady flow of income by teaching students, while on the other side, I started exploring the opportunities.
Find a Problem.
It is really easy to find a problem.
Look around. Observe what can be made better.
What is done in the wrong way?
- Geography is not taught in the best possible illustrative way.
- Mathematics can be made fun using animation and studies.
- Music is not taught online in an effective and interesting way.
- Preparation for jobs is not fun and enjoyable.
All the fellow teachers, remember the following
Every job opportunity builds an opportunity for a teacher to teach a person on how to get into that job.
I found that statistics were not taught in a proper way for the entrances in masters, and not at an undergraduate level. In fact, students called me up and told me the same.
- Talk to people to understand the problems.
- Build an account on Linkedin, to connect to such people.
- Observe what people are doing around you.
- Observe what people are not doing around you, but it is important.
- Bravo, go ahead and start experimenting.
Test your ideas.
This is the most important. This is the most exciting. This is the hardest of all.
This step will make you understand, whether your idea is good or not.
How will a shopkeeper understand whether a new product is good or bad?
- He/She must set up a shop so that people can easily find it out.
- He/She must test it out himself/herself.
- He/She must make the product available for a minimal cost, to check it out, if the customers are liking it or not. Is it really effective?
- He/She must go ahead on making the product available more, attract more customers, place better competitive prices on it.
How can an edupreneur test and build it out?
Build a shop, people can find it out easily.
Build an online shop. Make a website. Give a domain name. Learn SEO. Apply SEO, so that people can find it out, easily, when they need something.
Build Content for Free according to your niche.
The shopkeepers can test out a new biscuit, or drink. Then, he/she can sell it with assurity.
But, here you have to test your ideas and innovative methodologies with the people. This is sort of Beta Testing of your ideas, services, and product.
I built content for free for 100+ days, with SEO to understand, whether it really works.
Accept the Truth
If people love it, bravo! If not make your product better. Test it out. But, don’t fall into sunk cost bias.
If it doesn’t really work out, go ahead to test another idea.
I had been making content for free. I had a mindset, that if it doesn’t work out, I have added something positive to the world. This abundance mindset will help a lot during this phase or any phase of testing the product and services.
Go ahead, and build it.
In the process, you will reach a lot of enthusiastic persons, who will comment, who will like your work. You can engage them in the team somehow. They are well-wishers of your ideas.
Don’t start building a team just from the beginning, unless you know someone for a long time.
Go ahead and build a paid + volunteering team to help the idea, product and service grow for the people, for the customers.
- Ask them, what are mistakes you are making.
- Ask them, what can be improved.
- Take feedback.
Remember the following.
Content Build Relationships.
Relationships build Trust.
Trust generates Revenue.
Build the customer database by a Call To Action.
To investors, the customer database is the most important criterion.
When you are creating something for free, always make sure, you keep a call to action, like fill-up the form, for building up the database.
This helps, when you are planning to start a course or something interesting, you can reach out to them.
- Build Whatsapp Groups
- Build Telegram Groups
- Build Email List
- Build Facebook Groups
- Build your Followers
All these things are the same.
This database behaves like compound interest when you offer a good service or product.
Measure your Progress
If you have lost your focus, then you are not measuring your progress.
If you are not measuring your progress, you have lost focus.
Measure your progress by the numbers and progress bars I have mentioned above.
Build yourself, and your product.
Build yourself. Inspire others. Make the world a better place. Don’t forget about this.
This will also pave the way for other ideas, other products, and will make your existing product better.
Take feedback. Talk to people to understand your product better.
Go on experimenting with your ideas, till you find the one.