We continue diving deeper into the importance of execution in an early stage startup, and how to get it right. We discussed this topic with Srikanth Iyer, co-founder and CEO of HomeLane in the last episode. In this episode, we dive into the education industry, and look at execution from the lens of experienced EdTech entrepreneur Vamsi Krishna, co-founder and CEO of Vedantu.
In the first part of the podcast we dive into the following questions regarding execution in an EdTech startup:
- Challenges of execution in early days
- Importance of Minimum Viable Product and speed in execution
- Focusing on one product and nailing it and the importance of that
- Customer delight — to get to Product-market fit — what metrics did Vedantu use to achieve this
- What changes after product-market fit?
- When do you bring in specialists for specific roles?
- Role of founders as specialists are brought it to take their roles
In the second part of the podcast, we dive into the Objectives and Key Results (OKR) approach that startups can use to stay focused on what matters for the company in the near to medium term. This methodology is very clearly articulated in the book “Measure What Matters” which is a great read for startups founders.
Measure what matters
> What are OKRs and why does it matter?
> How many OKRs are there at a company level, and how do you roll it out?
> Stretch OKRs vs Committed OKRs
> What are the benefits of rolling out OKR process?
> What are the challenges to watch out for?
Next episode will be the last on the series “importance of execution” and how to get that right as a startup founder.
Anand Daniel is a seed/early stage venture investor with Accel Partners.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)