Episode 67 | Paramjit Das | GMAT Trainer | The Knowledge Entrepreneurs Show

8 July 2023
1hr 27min

Episode Description

In this conversation, Paramjit Das shares his journey as an educational entrepreneur, focusing on GMAT preparation. He discusses his passion for teaching, the evolution of his teaching philosophy, and the transition to starting his own company. Param emphasizes the importance of quality education, student engagement, and the challenges of navigating the online education landscape, especially during the COVID-19 pandemic. He reflects on his experiences, the significance of practical knowledge over formal credentials, and his future aspirations, including the potential pursuit of an executive MBA. In this conversation, Jag and Param delve into the realities of teaching, discussing the misconceptions surrounding teacher compensation, the importance of passion in education, and the dynamics of online versus traditional teaching methods. Param shares his insights on how to navigate the teaching profession, emphasizing the need for teachers to have realistic expectations about their earnings while also highlighting the rewarding aspects of the profession. The discussion also touches on the transition from one-on-one tutoring to batch teaching, exploring the challenges and benefits of each approach. In this conversation, Param discusses his journey as an independent GMAT tutor, focusing on the challenges and strategies involved in scaling his outreach, maintaining quality in teaching, and managing administrative tasks. He shares insights on the importance of co-founders, innovative marketing strategies, and the tech stack that supports his online education business. Param also reflects on his personal journey as an introverted teacher and the balance between teaching and personal well-being.

Key Takeaways

  • Param's journey began with a passion for teaching.
  • He believes in simplifying complex concepts for better understanding.
  • Education should focus on problem-solving skills, not just rote memorization.
  • Starting his own company was a gradual process influenced by his experiences.
  • Building a brand requires credibility and quality over quantity.
  • Online education gained momentum during the COVID-19 pandemic.
  • Maintaining small class sizes enhances the learning experience.
  • Student engagement is crucial to minimize dropout rates.
  • Practical experience can sometimes outweigh formal education credentials.
  • Param is considering an executive MBA for future growth. Most teaching jobs are underpaid, but passion is key.
  • Teaching should not be pursued solely for financial gain.
  • A teacher's impact lasts a lifetime, influencing students profoundly.
  • Initial teaching compensation can be modest, but growth is possible.
  • Online teaching can be as effective as in-person sessions.
  • Building a strong LinkedIn presence can attract students.
  • One-on-one teaching allows for deeper connections with students.
  • Batch teaching can scale a tutor's reach and impact.
  • Quality of educational resources often correlates with price.
  • Teachers should prioritize student engagement and accountability. Scaling outreach is about reaching more students, not just financial gain.
  • Quality in teaching is prioritized over quantity of sessions.
  • Sleep and mental health are crucial for effective teaching.
  • LinkedIn remains the primary platform for student acquisition.
  • Administrative tasks have increased with batch teaching.
  • Co-founders are essential for core functions in a business.
  • Innovative marketing can be achieved through student conversations.
  • A minimal tech stack can support an online education business.
  • Automation is considered only after mastering content delivery.
  • Financial investment is necessary for advanced educational platforms.

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