Great Companies: How did you get your idea or concept for the business?
DEVASHISH RAWAT: In 2008, I graduated from high school and enrolled at Auburn University in Alabama, USA, to study engineering. During my tenure, I personally felt the need for a foreign language as a massive opportunity in the immigrant community. Eg. Spanish is a widely spoken language in the United States and around the world.
I discovered a foreign language craze among the student community and saw it as a privilege if you knew more than two languages other than English.
In India, as per the new education policy 2020 emphasises three languages, and we can see a significant number of candidates looking forward to studying abroad in various countries. Professionals are moving for businesses as well as a surge in the number patients coming to india for medical tourism.
Hence the requirement of languages.
Great Companies: What are the various services provided by PLANGAMY
DEVASHISH RAWAT: Plangamy is offering multiple foreign languages
- Live Interactive Classes through video conferencing for multiple languages
- Subscription Model (Pre Recorded Languages) through Plangamy App (in the development phase)
We also have the future plans to enter into language translation services and becoming strategic partners of academic institutions & for-profit organisation
Language offering – Spanish, French, German, Japanese, Korean, Spoken English, Mandarin, Soft Skills & Etiquette
Great Companies: What makes PLANGAMY different from hundreds of other similar service providers?
DEVASHISH RAWAT: Plangamy, makes each class with the learner entertaining by engaging in multiple learning activities throughout the class. Live interactive classes is always the winner I believe whether you are taking it online or offline mode. In the subscription model, we are trying to bring the atmost usage of pen tablet and focussing on depth of the keywords with in the ecosystem of each language.
On the other hand, Some of the big players are offering Live classes & subscription model. We have evaluated the content & methodology but found to be low stickiness as interaction between the trainer n learners are limited.
In our market research, we found there is a paradigm shift in language learning and the language learning is perceived as a need instead of a want. However, the big players have not considered this opportunity and have only focussed on reaching out to the masses, and have not been concerned about the learners success in their learning journey.
Plangamy on the other hand understands, we are a service company and we keep the success of the learners learning journey at the core of the business.
Great Companies: What were the struggles and challenges you faced and how did you overcome them?
DEVASHISH RAWAT: Over the last decade, edtech has expanded rapidly. It's no surprise that the industry grew in 2020, with global lockdowns disrupting traditional face-to-face methods of teaching and learning. There is no shortage of opportunity in this space, but starting and growing an elearning company has its challenges.
- Standing out in a crowded market
- Creating a killer GTM strategy - defining your target market, making your product market ready, pricing appropriately, and reaching out to customers
- Choosing the most appropriate revenue model
- Increasing user activation and experience
- Influencing retention rates
So far, we've determined our target audience, pricing, and GTM strategy. We are still learning from the edtech industry's giants on a daily basis, striving to create the perfect formula for us to succeed in the market.
Great Companies: How do you plan to grow in the future? What does 5 years down the line PLANGAMY?
DEVASHISH RAWAT: Post seeking seed investment, we intend to expand our operations in the Indian, Middle Eastern, and South/East Asian markets, with the app subscription model and live interactive classes remaining our top priorities.
In the next five years, we will incorporate technological features such as artificial intelligence and the virtual reality concept into our application, as well as global expansion to last mile connectivity. A personalised learning coach/bot for user experience, for example.
Great Companies: If you had one piece of advice to someone just starting out, what would it be?
DEVASHISH RAWAT: The best advice is to keep learning and striving diligently; you will eventually make it to the top.
The key is concentration, perseverance, and determination.
Focus solely on implementation and finding your product's market fit as soon as possible.