Founder Story Session with Pavan Chauhan, Meritnation.com
“When a startup has money in the bank for the next 1 to 1.5 years, it means they are in a comfortable position. When you don’t have that kind of comfort, then the situation becomes very difficult” - Pavan Chauhan, Co-Founder, Meritnation.
On 28th June 2019, we at UIncept hosted our Founder Story Session with Pavan Chauhan, Co-Founder, Meritnation. Meritnation currently is one of the largest EdTech Companies in India. Started in 2009, Meritnation has transformed learning for school going children and has helped integrate technology into daily learning.
In conversation, Pavan talked about how the best way to build a business is through customer’s money, i.e. by making sales and profits. He went on and spoke about how repeat customers and referrals can form the very foundation of any business.
He realised this when he started Meritnation as a content company for K-12 students and despite revenues, there was no repeat usage. This transformed Meritnation into doing online live classes for students as well- creating repeat usage. He helped gain insight into what makes for a good product fit and how being customer-oriented has helped him throughout his journey.
The discussion went along the direction of how each company should get their product or at least their MVP out in the market as early as possible to get insights into the reality of the market since theoretical studies might be cushioned and may not paint a real picture. Pavan even talked about the importance of funds and how every company should be financially sound from the very beginning. He emphasised on how finances affect the psychological growth of entrepreneurs.
The conversation concluded with insights, wisdom, and takeaways for the audience and on a very positive note- it ended up teaching them what entrepreneurship is, and if done right, what it can be.
This session was hosted by UIncept, India's premier business incubator and accelerator. In our pursuit to share the best industry knowledge, we host founders to share their learnings and journey through conversations and interactive sessions. Learn more about UIncept and our programs here.