Byju's
I'm talking about India's new pride, educational sector's company Byju whose valuation on September 29th was 2 Billion Dollar And per month revenue is nearly 100 crore , first let's know about Byju Raveendran And after that we'll see to the company's philosophy and how it became successful and how you can adopt some earning and use it for your business Byju Raveendran was born in Connor His parents were teachers He finished his education there are was deeply in love with Maths You can also say that Maths was his girlfriend And after that, Byju Raveendran became an engineer He worked in "Pan Ocean Shipping company" in UK as an engineer In this case study, there are some interesting incidents which you should know While, he was working in UK He was approached by some of his friends as they wanted to do CAT he started teaching them.CAT (common admission test) He started teaching his friends.
After promotion by ShahRukh Khan and the power of media The download of that mobile app went from 9,000 per day to 50,000 per day Which
is this company of India? that is one of the top five internet valued
company of India That is India's number one education company that has
more than 2500 employees it has, nearly, 50% female employees.
Scholastic Achievements
He came back to India and gave CAT And the fun part is that though his friends did very well in their exams Byju Raveendran scored 100 percent And after that Byju Raveendran keep getting calls from IIMs So, Byju Raveendran should have accepted the offer Yes. According to the common understanding. But, he was different. He went back as he didn't wanted to study After few years, he again came back to India and give CAT And the fun part, second time also he scored 100 percent After scoring 100 marks twice, his pride and prestige He was getting offers from every where for teaching or giving speeches And the fun part After his couple of seminars, the 1200 seated auditorium were becoming houseful And Byju Raveendran became a hit Since auditorium were going houseful, his condition was like If Saturday morning, he is in Bangalore then by evening he is Chennai He is in Hyderabad or Delhi in Sunday morning and this followed and slowly, the success stories were building up his students were being selected for IIMs, IITs & other places Some of his students decided to join him instead till 2009, five of his brilliant students joined him And Byju Raveendran saw that India has some big shortcomings the primary and middle level at school Children don't have the access to quality education and uniformity learning.
In 2011, he along with his friends officially launched Byju How much has spent between 2011 and 2019?
Nearly 7-8 years, when now the company's worth is 2 Billion Dollar Even you're doing business for almost 20 years Right in front of the eyes if a person worth crores in 7-8 years Then we should learn from that person Because, now, the length of time is not important for success Right efforts, directions,positioning, strategies are important So come on, let be introduce you to some of the reasons behind Byju's success :
- First reason- Strong Marketing Bjyu did a very strategic marketing A lot of companies advised him that since his product is for children but the payments are made by parents So, focus your Ads on parents Bjyu said that everyone makes this mistake Bjyu focused his complete marketing campaign on children He focused on quality .
He focused on content and brought in the ShahRukh Khan's stardom It means if your product has the potential Then, the presence of right marketing strategies is compulsory
- Second reason- You find the problem the problem which concerns to a large population and give its solution Bjyu saw a problem that every child in India has to go to a school But the fun part is that school lacks in having quality teachers there is lack of consistency teaching neither the teachers are same nor the consistency of teaching And despite the syllabus being same all over India the results vary from school to school and children to children Bjyu started assembling all the quality teachers at one place for this.
he invited a huge cost One expert in just one day can give 30 seconds of output And to make a product for a single grade the cost is nearly 3 million Byju never compromised in quality.
The Emerging Dilemma
He saw a problem :
- first- lack of quality teachers .
- second- consistency of quality teaching he solved both these problems with uniformity by developing an app And Byju was extremely well received Lesson.
- Third- Bjyu knew that the schools are already there are tuitions, schools have extra classes.
Then why would anybody use his app But he also knew that the timing of tuitions and schools are fixed The schools are not conducted everyday. The holidays are fixed The coachings are not available when you want He thought that if access is given for anytime Your children can learn anytime.
They can study at early morning They can study on Sundays,on holidays, at nights They can study at early morning or till late night He said, the way adults need flexibility of time if we give the same flexibility of time and anytime access to children Then their parents will happily accept it because they can study on train journey, on flight journeys they can study at home and anywhere they give anytime access.
Can you give access to your customers according to their comfort?
I can't say giving access 100% But according to your capacity give importance to their comfort Byju teaches to give access in their comfort zone.
Next lesson- He knew that today's children after school, spends their most time in front of TV and with smart phones the parents are sick of Smartphone disease.
But they can't do anything about it because their children are addicted to it Bjyu thought to add a positive side to this disease He put everything in the app that can be happily accessed from Smartphone. Now parents have no worries. If their children is having a Smartphone then there is a complete possibility that they will study half of the time.
Assuring Education
So, the will of a kid to carry a smartphone is fulfilled parents are nearly tension free of their children using smartphones. And the spare time is used for exceptional learning. Because of this reason, the children studying from Byju is taking uninterrupted lessons for an average of 50 minutes in a day the figures are wonderful.
they are studying for more than 50 minutes in a day This shows, that app is as effective as school's education. the nest lesson from Byju the place should be attractive and amazing where the kids are spending time He set an idea called knowledge graph Under which he established personalized learning The way they want to study.
Through the videos, graphs or texts By any way they want to study For this they created a triangle-Of :
- Content,
- Media
- Technology
Strategic marketing of Byju's
Next lesson- Byju Raveendran thought If I'll address only one group then my business would stay limited to that and this would be the same with another target group He noticed the curriculum in India's education He saw that there are 3 main curriculum in India Byju showcasing excellent business intelligence He designed content for all the three curriculum
He had a clear vision of completely capturing the market If you're business owner,so let me ask you today
- Are there any parts of the market that is neglected by you?
- Can you bring little modification in your current products and captures an additional area of market?
- Your present customer that gives you valid shares,gives something from his pocket.
- Can give you more money if you introduce a new product line?
I would like to finish by saying this one thing How does he handle his employees? Byju Raveendran praises his employees a lot.
He believes in the culture of appreciation. He believes that you cannot achieve anything by criticizing Our employees will reach next level through appreciation and praises. And that's the reason that people working with him are happy That's why all the experienced teachers in him without any ego clashes That's why the rate of attrition is very low And that's the reason why Byju Raveendran is slowly reaching to the top .
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