How do you build an effective tech stack that sets you up for successful business operations?
In this first session of the LaunchPad Bootcamp, our speakers provided insight into building an effective operations model that allows for scale. They also covered some practical legal, financial and compliance tips that are often overlooked by lean startups.
Built for Australian startup companies in the education technology sector, our program is for those thinking about founding an EdTech business.
Building strong operations requires understanding who a target market is and shaping the best market fit for a product.
Setting goals and targets in the first year is extremely important. Building credibility in a concept from its point of conception is a key feature for successful startups. This is followed by building a network of connections through strong partnerships and clearly defining a target market. This will help recognise the gap in the market that a startup aims to fill.
Your startup must build a strong foundation from the beginning. It is much easier to quickly adjust while continuing operations while creating positive growth.
An EdTech startup company should also strategise for the long term, not just short term. Plan goals to pursue as you move years into the future, and adjust them as you adapt.
Once an effective model has been created and prepared from scaling, startups want to share their product and collaborate. Also, negotiate contracts with short timelines. A business can change dramatically over short periods of time as an EdTech solution develops with new technology and insight. A startup must be agile and responsive to changes which can bring benefits.
One of the hardest parts of getting operations right is the tech stack. How can an education technology startup implement the right tech stack?
It is important to invest in software that is strong and dynamic, such as Salesforce. This is much easier than relying on importing information after the startup grows. Using softwares which helps track the customer journey from the onset will help detect similarities in a target audience. This helps better understand a customer.
We were joined by:
- Robee Lockhart, Vice President of Global Revenue & Sales Operations | ClassEDU
- Mo Ziyauddin, EdTech Sales Specialist, ANZ | Amazon Web Services