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Ideally Students Pay $20/mo To Learn From Robots, $1,000,000 In Revenue in 2015, EP 263: Aditya Singhal
Ideally Students Pay $20/mo To Learn From Robots, $1,000,000 In Revenue in 2015, EP 263: Aditya Singhal
ratings:
Length:
17 minutes
Released:
Jun 6, 2016
Format:
Podcast episode
Description
Aditya Singhal, an education technology entrepreneur who’s hoping to fully automate tutoring in the next five years. Aditya believes in low-cost, high-quality education for all. Tune in as he and Nathan talk automated education, subscription models, and why Silicon Valley is overrated. Famous 5 Favorite Book? – Growth Hacker Marketing What CEO do you follow? — Elon Musk What is your favorite online tool? — Twitter Do you get 8 hours of sleep?— No If you could let your 20 year old self know one thing, what would it be? —I wish I knew how to hack growth faster Time Stamped Show Notes: 01:25 – Nathan’s introduction 01:45 – Welcoming Aditya to the show 02:10 – There are 21 million college students in the states, looking for help 02:30 – Created TransTutors - an AI teaching assistant 02:50 – Subscription model: $20 each month, 30k customers 03:10 – Not a typical SaaS business model - uses humans assisted by code 04:05 – Revenue is $60-80k per month 04:20 – Business founded August 2014 04:30 – Revenue is 2015 around $1 million 04:50 – Initially self-funded; now raising investment from 500 Startups 05:00 – Hoping to raise $2.5 million by convertible note 05:30 – Making a trade-off: wants to learn from Silicon Valley 06:10 – Are tech hubs overrated? 06:30 – About 40% of customers (12k) are paying monthly 07:30 – In February 2016 had 3k active paying customers 08:05 – Users typically stay 4-6 months (one semester) 08:40 – Team of 10 people, including 8 in India 09:00 – A young engineer in India earns around $30k per year 10:00 – Aditya’s goal is to have a fully automated teaching system 10:20 – Would be happy to sell once he’s achieved his goal 10:50 – Equity split 50/50 between Aditya and his partner 11:30 – Connect with Aditya by email or twitter 14:50 – Famous Five 3 Key Points: Create the solution your market are looking for - even if they don’t know it yet Be clear about your business vision Focus on finding social marketing methods to grow your business explosively Resources Mentioned: Freshbooks - The site Nathan uses to manage his invoices and accounts. Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Show Notes provided by Mallard Creatives
Released:
Jun 6, 2016
Format:
Podcast episode
Titles in the series (100)
EP 87: Making $80k/mo After being $90k in Debt with Elliott Hulse: Nathan Latka brings you top entrepreneurs daily inspired by Tim Ferriss, Pat Flynn, John Dumas, Entrepreneur on Fire, Chalene Johnson, NPR, HBR, the StartUp podcast, Art of Charm, Dave Ramsey, Planet Money, APM Marketplace, Mixergy, Seth Godin, #AskGaryVe by SaaS Interviews with CEOs, Startups, Founders