10 Tips for Edurepreneurs
1. Read edReformer daily, EdNet News Alert weekly, and Next Research reports periodically.
2. Build an idea pipeline and rate by market size, competition, and barriers to entry, and cross border potential.
3. Pick the idea that is most attractive that you are most passionate about—something you can spend 18 hours a day working on for years.
4. Determine the best source of capital for your idea. A nonprofit organization can be good option if you are more interested in meeting a need than scaling and if you think you can find grants to kickstart it. Private capital for a for-profit venture is even harder to raise. Bootstrap as much as you can with friends and family funding.
5. Build your team carefully, make changes quickly.
6. If you can afford to, give away a core feature, let it grow virally, use customer feedback to make improvements, wait to turn on revenue streams until you’ve gained some traction.
7. Use grants and contracts to build IP.
8. Keep the burn low, stay virtual as long as possible.
9. Use new media to inform, connect, build brand, and add value.
10. Sell everyday.
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