At some point you have to treat your EdTech baby like a business.
Starting and EdTech company, or any company for that matter, is often a labor of passion. There may not be blood, but there are often sweat, and tears, not to mention long hours and sleepless nights. So it is no wonder that EdTech founders and the founding team grow attached to the company and grow to think of it almost as a member of their family.
Work Hard, Work Smart
Thinking of their startup as a member of the family is often what drives founders to be successful. After all, working long days, weekends and skipping vacations is sometimes what it takes to get an EdTech company up and running. A founder focusing all his or her energy into all aspects of the company is a proven recipe for success.
This drive is admirable and necessary in the startup phase, but eventually, this attitude can cloud a founder’s judgement regarding business decisions. Just like a new parent will show baby pictures to anyone who will look, many EdTech leaders search for praise from the market and their peers instead of making sound, practical business decisions regarding the direction of the company.
Your EdTech Company is a Company
If you are an EdTech company founder or CEO, you need to apply sound strategy in what you are doing in order to get your company where you want it to go. This doesn’t always mean getting praise for how cool your app is or how friendly your work environment is. This means making decisions in the best interest of the company, the employees, the investors and the board of advisers. Don’t spend all your time bringing in people who praise what you are doing instead of driving customer sales and service.