The Tech Edvocate

Top Menu

  • Advertisement
  • Apps
  • Home Page
  • Home Page Five (No Sidebar)
  • Home Page Four
  • Home Page Three
  • Home Page Two
  • Home Tech2
  • Icons [No Sidebar]
  • Left Sidbear Page
  • Lynch Educational Consulting
  • My Account
  • My Speaking Page
  • Newsletter Sign Up Confirmation
  • Newsletter Unsubscription
  • Our Brands
  • Page Example
  • Privacy Policy
  • Protected Content
  • Register
  • Request a Product Review
  • Shop
  • Shortcodes Examples
  • Signup
  • Start Here
    • Governance
    • Careers
    • Contact Us
  • Terms and Conditions
  • The Edvocate
  • The Tech Edvocate Product Guide
  • Topics
  • Write For Us
  • Advertise

Main Menu

  • Start Here
    • Our Brands
    • Governance
      • Lynch Educational Consulting
      • Dr. Lynch’s Personal Website
      • Careers
    • Write For Us
    • The Tech Edvocate Product Guide
    • Contact Us
    • Books
    • Edupedia
    • Post a Job
    • The Edvocate Podcast
    • Terms and Conditions
    • Privacy Policy
  • Topics
    • Assistive Technology
    • Child Development Tech
    • Early Childhood & K-12 EdTech
    • EdTech Futures
    • EdTech News
    • EdTech Policy & Reform
    • EdTech Startups & Businesses
    • Higher Education EdTech
    • Online Learning & eLearning
    • Parent & Family Tech
    • Personalized Learning
    • Product Reviews
  • Advertise
  • Tech Edvocate Awards
  • The Edvocate
  • Pedagogue
  • School Ratings

logo

The Tech Edvocate

  • Start Here
    • Our Brands
    • Governance
      • Lynch Educational Consulting
      • Dr. Lynch’s Personal Website
        • My Speaking Page
      • Careers
    • Write For Us
    • The Tech Edvocate Product Guide
    • Contact Us
    • Books
    • Edupedia
    • Post a Job
    • The Edvocate Podcast
    • Terms and Conditions
    • Privacy Policy
  • Topics
    • Assistive Technology
    • Child Development Tech
    • Early Childhood & K-12 EdTech
    • EdTech Futures
    • EdTech News
    • EdTech Policy & Reform
    • EdTech Startups & Businesses
    • Higher Education EdTech
    • Online Learning & eLearning
    • Parent & Family Tech
    • Personalized Learning
    • Product Reviews
  • Advertise
  • Tech Edvocate Awards
  • The Edvocate
  • Pedagogue
  • School Ratings
  • How AI Helps Student Outcomes

  • Choosing A Reading Program: Everything You Need to Know

  • Reading Intervention Strategies That Work

  • Calculating Reading Comprehension Scores: Everything You Need to Know

  • How Big Data Is Changing Education Forever

  • Teacher’s Aides Deserve Our Appreciation

  • The Cycle Of Learning To Read: Everything You Need to Know

  • Summer Reading For Your Kids: Everything You Need to Know

  • Analyzing the Research on Autism Spectrum Disorder

  • Kids’ Reading Comprehension Is Worse On Screen

EdTech Startups & Businesses
Home›EdTech Startups & Businesses›You Must Include These 3 Things in Your Edtech Business Plan

You Must Include These 3 Things in Your Edtech Business Plan

By Matthew Lynch
June 23, 2020
1
Spread the love

Do you have a business plan?

It’s the one question you’re going to be asked a lot as you begin your edtech business. The reasons to write a business plan are many. It’s a way to articulate your vision. The business plan drives your work and also your marketing approach. It also encourages reflection and revision.

Your edtech business plan is your strategic tool for meeting your goals.

To build the best plan possible, you’ll need to include these three things.

Pick a business model

Esteban Sosnik categories common business models for edtech entrepreneurs into four categories:

Bottom-Up (aka, the Freemium model)

This model begins with a free trial approach, and it’s perfect if you’re offering content. Users can download a free trial. Sometimes the download is a “lite” version of the app. Then they can upgrade to the premium version of the app. Some entrepreneurs limit the trial period to 30 days. The grassroots approach is a quick way to build a broad and loyal consumer base.

Institutional

Select this model if you’re offering a school- or district-wide system. You’ll be selling to administrative leaders, so you’ll need to pay careful attention to how you address the needs of your customers. The ability to scale up is essential. The institutional approach takes longer but pays off in big contracts once you jump through district hoops.

Consumer

A consumer-based model transfers costs to families instead of schools. In this model, schools use the edtech at no charge. If families want to use the product at home, they pay for it. Some see this model as a win-win because primary consumers, children, get access during the school day. Investors appreciate this ingenious way of marketing the product to families.

Sponsored

In some cases, you may be able to persuade a corporation to sponsor the purchase of your product for a school. Corporate social responsibility (CSR) is a way businesses can give back to their communities. 

Describe yourself and what you do

Write a summary of who you are and what your business does. You’ll need an executive summary, an edtech company description, and an explanation about how you organized your company structure. The narrative is not only helpful for keeping yourself focused on the business, but it also introduces you to investors. You may find it beneficial to include the resumes of your key personnel in the appendix.

Mind the money

Your plan isn’t complete until you show how you’ve thought about money. First, you’ll have to describe the results of your research. How will your edtech solution solve a pressing problem in education? Use quantitative numbers to tell how the results have affected your product development and marketing. Show your accounts payable and receivable. In addition, project how much money you’ll need for at least three years.

As you write your plan, voice your aspirations in a positive tone. Your confidence will sell your idea not just to investors but also to yourself. That’s critical, especially for those times when you feel like giving up on your ideas.

Your business plan will guide you in all decision-making that is yet to come. There are plenty of tips that can help you launch your edtech products and service.

Previous Article

Edtech Marketing Ideas to Implement Right Now

Next Article

Bringing Education into the Business World

Matthew Lynch

Related articles More from author

  • EdTech Startups & BusinessesOnline Learning & eLearning

    Is Microlearning the Future of Corporate Training?

    April 23, 2018
    By Matthew Lynch
  • EdTech Startups & Businesses

    It’s Time to Hold Edtech Companies Accountable

    February 27, 2018
    By Matthew Lynch
  • EdTech Startups & BusinessesFeaturedFresh

    How to Break into the Asian Edtech Market

    December 4, 2018
    By Matthew Lynch
  • EdTech Startups & Businesses

    The Secret You Must Know About Innovation Accounting for Your Edtech Startup

    August 23, 2019
    By Matthew Lynch
  • EdTech Startups & BusinessesFeaturedFresh

    How to Break into the South American Edtech Market

    December 3, 2018
    By Matthew Lynch
  • EdTech Startups & Businesses

    Why Edtech Companies Should Hire Educators

    January 13, 2018
    By Matthew Lynch

1 comment

  1. Три невід’ємні частини бізнес-плану EdTech-компанії - Axsioma 6 January, 2022 at 04:27 Reply

    […] За матеріалами: The Tech Edvocate […]

Leave a reply Cancel reply

Search

Login & Registration

  • Register
  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Newsletter

Signup for The Tech Edvocate Newsletter and have the latest in EdTech news and opinion delivered to your email address!

  • Recent

  • Popular

  • Comments

  • How AI Helps Student Outcomes

    By Matthew Lynch
    February 5, 2023
  • Choosing A Reading Program: Everything You Need to Know

    By Matthew Lynch
    February 5, 2023
  • Reading Intervention Strategies That Work

    By Matthew Lynch
    February 4, 2023
  • Calculating Reading Comprehension Scores: Everything You Need to Know

    By Matthew Lynch
    February 4, 2023
  • How Big Data Is Changing Education Forever

    By Matthew Lynch
    February 4, 2023
  • 7 Ways Technology Is Impacting Modern Education

    By Matthew Lynch
    March 4, 2017
  • 20 Top Virtual Reality Apps that are Changing Education

    By Matthew Lynch
    March 11, 2017
  • Why Mobile Technology Enhances Instruction

    By Matthew Lynch
    December 14, 2016
  • 7 Roles for Artificial Intelligence in Education

    By Matthew Lynch
    May 5, 2018
  • Digital Literacy is the Most Important Lifelong Learning Tool

    By Matthew Lynch
    December 30, 2017
  • Where to Find Dyslexia Support for Adults - Case Training Services | Registered Charity #1051587
    on
    August 2, 2022

    11 Must-Have Apps and Tools for Dyslexic Students

    […] recorders Electronic flashcards ...
  • What Types Of Posts Can You Make In Google Classroom? - The Tech Edvocate - Gossip ...
    on
    July 31, 2022

    How to Integrate Google Classroom with the Power of YouTube

    […] of your posts. ...
  • Answers to Frequently Asked Questions About Google Classroom - The Tech Edvocate - Gossip Buz
    on
    July 31, 2022

    Answers to Frequently Asked Questions About Google Classroom

    […] Answers to Frequently ...
  • 10 Important YouTube Channels For Teachers - Kiiky Wealth
    on
    July 29, 2022

    10 Incredibly Useful YouTube Channels for Teachers

    […] Thetechedvocate.org – 10 Incredibly ...
  • Teaching Learners Digital Content Curation Skills - Fab Lab Connect
    on
    June 30, 2022

    Teaching Learners Digital Content Creation Skills

    […] Read More… […]

EdTech Policy & Reform

  • Curriculum & InstructionEdTech Policy & ReformEducation Leadership

    Why We Should Leave Behind the Cookie-cutter Education

    Spread the loveChange appears to be the only “constant” factor in the educational field. However, what happens when a more significant shift becomes necessary? To provide students with the best ...
  • Adaptive LearningCurriculum & InstructionDigital & Mobile TechnologyDigital Age TeachersEarly Childhood & K-12 EdTechEdTech & InnovationEdTech Policy & ReformInstructional Technology

    Exploring New Ideas: Student-Driven Remote Learning

    Spread the loveRemote learning is taking its toll on our students. They miss the social side of school. Not seeing their classmates or teachers is leading to nervousness, anxiety, and ...
  • Digital & Mobile TechnologyEdTech & InnovationEdTech Policy & Reform

    Implementing Education Technology by Pursuing Technology Education

    Spread the loveTechnology is used for many great things in our world. It’s a powerful tool when used correctly. As such, this powerful tool can be used to transform learning.  ...
  • EdTech Policy & Reform

    How Much Bias Is Okay in Your School?

    Spread the loveThe algorithm has proven itself to be a handy tool when it comes to solving education problems. It’s also not without bias.  You may be wondering how some ...
  • EdTech Policy & ReformFeaturedFresh

    Edtech Should Complement Good Pedagogy, Not Attempt to Replace It

    Spread the loveThe newest generation of edtech is downright amazing; it’s no wonder that various education stakeholders might be a little excited about its potential to transform education. However, edtech ...

EdTech Startups & Businesses

  • EdTech Startups & Businesses

    Trends That Will Help Your EdTech Startup Succeed

    Spread the loveIf you want to thrive in the destiny of learning and self, shorten, tailor, and gamify. The bulk of EdTech businesses believes that digitizing conventional learning methods and ...
  • EdTech Startups & Businesses

    How to Sell Your Edtech Product

    Spread the loveDevelop a profile of the perfect consumer, target clients that meet that description, and plan on a long sales cycle. Selling to schools takes a different sales process ...
  • EdTech Startups & Businesses

    Edtech Companies Can Learn What Not to Do From Delta Airlines

    Spread the loveIt seems that edtech companies still have a lot to learn about their business models and practices. With that being said, there is a lot they can learn ...
  • Digital LeadershipEdTech Startups & BusinessesProduct Reviews

    Product Review of Collegix

    Spread the love This is a comprehensive ERP solution for colleges and universities that provides modular, totally integrated learners services, finance, HR, and advancement. Collegix provides online and offline workarounds ...
  • Early Childhood & K-12 EdTechEdTech Startups & BusinessesProduct Reviews

    Product Review of Discovery Education

    Spread the love Discovery Education is a big player in EdTech. The company has established itself as the leading provider of digital curriculum resources, digital content, and professional development for ...

Digital Equity

  • Digital Equity

    How to Create an Equitable Digital Culture in K–12

    Spread the loveDigital equity is vital in our schools. After all, it can help close the achievement gap. However, there is one prevalent problem concerning digital equity. That is the problem ...
  • Digital & Mobile TechnologyDigital EquityDigital Literacy

    Teaching Learners Digital Content Creation Skills

    Spread the loveContent curation is nothing new and has always been a coveted skill. It has been this way for hundreds of years — think of art galleries, museums, or ...
  • Digital & Mobile TechnologyDigital EquityEdTech & Innovation

    Promoting Online Access With Hotspots, Laptops, and Planning

    Spread the loveWhen becoming a leader in the field of education, it is important to consider equity. Some students may not have access to devices or the internet from their ...
  • Digital EquityDigital Leadership

    How Can You Assess the Tech Needs of Your Students Outside of School?

    Spread the loveToday, I received an email from the middle school principal in Los Angeles. She explained to me that the school that she ran was in one of the ...
  • Digital Equity

    It Is Time for the Edtech Industry to Stop Denying Its Equity and Race Problem

    Spread the loveThe EdTech industry is dominated by white employees, white leaders, and white entrepreneurs. If you doubt this statement, just attend an Edtech conference. Admittedly, educators and others don’t ...

EdTech Futures

  • EdTech Futures

    The IT Investments Securing the Future of Higher Education

    Spread the loveThe future of higher education still seems uncertain after the massive disruptions of the last two years. Universities and colleges are struggling with budget difficulties amid cybersecurity threats. ...
  • Adaptive LearningAssistive TechnologyEdTech FuturesInstructional TechnologyTeachers

    Will AI Replace Teachers?

    Spread the loveThrough the years, robots have taken over many jobs. First, they replaced horses and wagons and horses and plows, then they started to replace people. A few examples ...
  • EdTech FuturesHigher EducationHigher Education EdTechUncategorized

    The Future of Higher Education Must Avoid Returning to the Past

    Spread the loveColleges and universities can make higher education safer, smarter, and more accessible through automation and collaboration technologies – if they commit to it. Author: John Hulen, Director of ...
  • EdTech FuturesOnline Learning & eLearning

    IT Trends To Watch As Higher Education Moves Into a New Decade

    Spread the loveEdtech couldn’t have hoped for a better launch into the new decade than the push the industry received from COVID-19. Even the most tech-resistant institutions and individuals have ...
  • EdTech Futures

    4 Emerging EdTech Trends in 2022

    Spread the loveCovid-19 has not only changed education as we know it, but it has forced education technology (EdTech) to up its game. EdTech has been crucial since the start of this ...

About Us

Since technology is not going anywhere and does more good than harm, adapting is the best course of action. That is where The Tech Edvocate comes in. We plan to cover the PreK-12 and Higher Education EdTech sectors and provide our readers with the latest news and opinion on the subject. From time to time, I will invite other voices to weigh in on important issues in EdTech. We hope to provide a well-rounded, multi-faceted look at the past, present, the future of EdTech in the US and internationally.

We started this journey back in June 2016, and we plan to continue it for many more years to come. I hope that you will join us in this discussion of the past, present and future of EdTech and lend your own insight to the issues that are discussed.

Newsletter

Signup for The Tech Edvocate Newsletter and have the latest in EdTech news and opinion delivered to your email address!

Contact Us

The Tech Edvocate
5322 Markel Road, Suite 104
Richmond, VA 23230
(601) 630-5238
[email protected]

Follow us

Copyright © 2023 Matthew Lynch. All rights reserved.