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Strategic Communications Advisory For Visionary Founders
Conversation
Highlights
Welcome to another episode of Unicorn Builders. In today’s episode, we’re speaking with Philip Cutler, CEO and Founder of Paper, an edtech company that has raised $390 Million in funding.
Here are the most interesting points from our conversation:
- Transition from Educator to Entrepreneur: Philip Cutler shares his journey from being a classroom teacher to founding Paper, driven by the desire to support students needing extra academic help.
- Initial Solutions and Pivots: The early days of Paper focused on leveraging technology for remote tutoring. Insights from students led to a pivot from video conferencing to a chat-based tutoring model, which saw higher engagement.
- First Customer Success: By targeting school districts in Southern California, Paper secured its first customers, Laguna Beach Unified and Irvine Unified, through direct engagement and understanding local needs.
- Growth Strategy: Paper’s growth was accelerated by moving the team closer to its customers, allowing for better support and understanding of the market, resulting in the acquisition of numerous school districts.
- Market Penetration and Product Development: With 700 school districts served, Paper continuously evolves its educational support system (ESS) by integrating various tools to support diverse student needs.
- Navigating COVID-19: The pandemic was a critical turning point. Instead of cutting back, Paper invested in innovation, resulting in substantial growth as the need for educational technology surged.
Actionable
Takeaways
Customer-Centric Development:
Always prioritize understanding your customers' problems. Direct engagement and listening can reveal critical insights that guide product development.
Be Ready to Pivot:
Strong opinions are necessary, but they should be held loosely. Be prepared to change direction based on real user feedback to achieve better product-market fit.
In-Market Presence:
Physically being in the market and close to your customers can significantly enhance understanding and improve customer relationships, driving growth.
Innovation During Crisis:
In times of uncertainty, doubling down on innovation rather than cutting back can position your company for accelerated growth post-crisis.
Unified Solutions:
Integrating various product offerings into a cohesive system can provide better value and outcomes for customers, making your solution indispensable.
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