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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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