The Changing Landscape in Education

Although education hasn’t changed much, the education sector has changed a great deal in the last 15 years or so. Gone are the days of large, multinational education conglomerates that sell everything from workbooks to software to newspapers. Many of these companies assumed the market wanted a one stop shop for resources across grade level and subject area. Stock markets, investors, and boards thought this was a great idea. Except, the education market didn’t.

Educators want best of breed solutions to their problems not one stop shopping. The result: few large education companies are left. When these companies broke apart (a topic for another post), it created an opportunity for many smaller solution providers to enter the education market. These smaller companies are being bootstrapped, angel invested, and venture funded---experts estimate there’s well over $1B dollars invested annually in the US education market, shifting the landscape.

The education sector has moved from being dominated by a few established, cash flow-backed, behemoth companies to creative, upstart, agile solution providers. These new companies are being led by technologists, educators, investors, social change agents, and philanthropic entrepreneurs and backed by investors.

Innovators and investors correctly identified an amazing opportunity in this new landscape. An opportunity to introduce exciting, interesting, and progressive solutions to the market. Those that have tried will attest, it takes more than a great idea to make it in the education market. Consider the following key business functions:

1. Revenue

Good companies set realistic goals that return ROI. This helps measure success, tracks growth, and prepares for future investment. It’s equally important to have a realistic, manageable, and executable plan to reach your revenue goals.

2. Marketing

Companies that succeed convert leads to customers. Most realize they need a continuous stream of people who are interested in their product and services. The difference lies in what they do with them. Convert leads effectively through processes and tools that inform, work efficiently, and support growth.

3. Account Management

The easiest sale is to someone who already knows you. Don’t take it for granted or leave renewals to chance. Successful companies develop a plan, process, and have people dedicated to ensuring repeat and expansion business with their current customer base.

4. Product

Products and services must create less work, not more. Schools are understaffed and overtasked. Not only does your product need to solve a problem, it needs to be easy to navigate and intuitive. No one ever needed training to use Amazon.com, the most profitable company in the world.

That’s where BLOQQ comes in, we can help you stand up essential business functions. We’re passionate about progress and game changing ideas.

If you’d like to learn more about how we can help scale your project, don’t hesitate to reach out, info@blockforbuilding.com

Source: HolonIQ