We have positively disrupted our own segment: Byju Raveendran
In a fireside chat with Dr Annurag Batra, IMPACT Person of the Year winner, Raveendran, Founder & CEO of BYJU'S, talks about why the company’s advertising has struck the right chord among the masses
Byju Raveendran, Founder & CEO, BYJU'S took home the coveted Impact Person Of The Year 2019 Award on Thursday night. Byju’s has over time proved its mettle as one of the most disruptive brands. The brand, at one point, a successful-if-unremarkable exam-coaching business, has emerged as one of India’s most valuable technology companies thanks to its fast-growing online learning app.
Raveendran in a fireside chat with Dr Annurag Batra spilt the beans of the Ed-tech unicorn’s success formula and spoke of why the company’s advertising has struck the right chord among the masses.
If there is one thing that Raveendran is extremely proud of is that the company has managed to hold on to the ten people who started the company with him and they still play a crucial role in its growth. “This association is helping us integrate all the rockstars who come from out and play our game. The power of compounding relationships is most of the time underestimated. You can almost start a sentence and someone else will complete it for you. They form the culture and the DNA of the team,” he remarked. Emphasising on the same, he added, “For us, it has been a clear case of pursuing your passion which intersected with a clear need in the society. And we kept on making it bigger and better and continue to do so. It’s easy to start a mission-driven company in the education space. Keeping it mission-driven, all the credit goes to the team.”
Until 2015, Byju’s was 100% offline and 100% services., which was then steered into a transition of 100% online and 100% product in 2016. “We have positively disrupted our own segment,” Raveendran asserted.
According to him, being on TV on all types of channels and cricket has helped the brand carve a niche among audiences. “Cricket sponsorship and all brand ambassadors are working for us because it is a product that is relevant not just in the metros but also small towns,” he explained.
Moreover, speaking about roping in Shah Rukh Khan as the brand ambassador, he said, “All our messaging is to students. Shah Rukh Khan as our brand ambassador is appealing to the parents as he is not playing the typical brand ambassador. Kids are the real stars who are really working.”
According to him, there are a lot of opportunities in the education space. “India and China will be pioneers in learning,” he said. When asked to give out a message to entrepreneurs, Raveendran remarked, ”Those who want to pursue your dreams, entrepreneurship is not a skill, it’s a mindset.”
He believes that passion, the intersection of a clear need of something in the society and the product-market fit remain key aspects to nailing it. “Once you find the product-market fit if you can find the target audience and create a team that can execute. You need to have a dream but it’s equally important to have a life goal. You need to have the discipline to break it down into a monthly, weekly and daily goal,” he shared.
Furthermore, he contended that finding the right balance between thinking and dreaming long-term as well as doing what’s important for today is imperative. “All of us can be entrepreneurs or intrapreneurs. There’s not much difference anyway “ Raveendran explained.
When asked for a message for the entrepreneurial set of people, he suggested, “There is nothing called winning it’s about staying in the game. And that’s why you need a team. “
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