The inspiring journey of Sarthak
Fri, 10.11.2023, 11:00
Here's Sarthak, an outstanding entrepreneur whose journey is a shining example of success with IFJ's support. Hailing from India, he founded "Find a Tutor," an education company with a philanthropic mission. In this interview, he shares his experiences, strategies, and vision for a better educational future. Sarthak embodies innovation, adaptability, and positive social impact, serving as an inspiration for entrepreneurs. Join us to discover his remarkable journey.
What movated you to start your own companies, and how did you get involved in charitable work to support education worldwide?
I'm Sarthak, 24 years old from India. I come from a middle-class family and won scholarships to come to Switzerland. After initially planning to study engineering, I switched to hospitality. During my time at EHL, I started several companies, including a tutoring service called "Find a Tutor." Realizing the demand for tutoring, Findatutor.ch has donated more than 6000+ CHF with which about a 100 kids get access to eduation .
Can you explain how your platform works?
Why did you decide to launch “Find a tutor” and does your company already exist in New Dehli?
Actually, I did not open it already in New Delhi. Every company that I've created so far is for impact to help people, and that's my life goal as well. I realized that a lot of people need education. So, I was working with this association “Smile”. During my time in Delhi, I had a meaningful encounter with individuals from a school that received support from this association. It ignited a strong desire within me to make a positive impact in my own country, and looking ahead, I aspire to extend my help to other nations as well.
That’s really inspiring, now let’s focus a bit more on your actual company: “ Find a tutor”. So first of all, just tell me more about this company and how you’ve realized this project?
Find a Tutor is a company that helps students find tutors within their own university in a closed economy. The idea came to me when I realized the unorganized nature of the tutoring market. Many students, like myself, were tutoring others to earn extra income, but there was no efficient way for students to find the right tutor, understand pricing, or ensure credibility.
To address this gap, we created a marketplace where tutors can list their schedules, utilize a payment platform, and build credibility through recorded sessions and reviews. Additionally, we aim to make education more affordable for students. To achieve this, we encourage highly skilled tutors to offer group sessions, reducing the cost per student significantly compared to one-on-one tutoring. This approach helps students access quality education at a more affordable rate, fostering a win-win situation for both tutors and students.
How did you secure initial funding or investments?
I secured initial funding for the company through a lean and self-sustaining approach. Initially, I invested 100 francs of my own money to test the business model. I started everything from my laptop, using Excel sheets to create a sort of agency where we advertised our services and asked potential clients to contact us. I would provide them with a list of available tutors along with their credentials and prices. Once a student made a choice, I manually coordinated their schedules. This initial 100 francs generated some revenue, which allowed me to invest 1,500 francs in developing the platform. As the platform grew and generated more income, we are now on the verge of investing 40,000 francs into the company. So, in essence, the company has been able to finance itself, and I haven't taken external funding because we haven't needed it yet, and I prefer to continue on this self-sustaining path.
How did you plan to start your business plan and then your business?
To start my business and create a business plan, I followed a straightforward approach. I focused on how to generate income from the beginning and ensured that the revenue exceeded the costs. In these types of businesses, particularly marketplaces, I appreciate the minimal upfront investment required. I put in a lot of effort myself, but I didn't pour money into the venture until it was financially viable. It's an iterative process where you adjust your approach as you go, as initial assumptions often need correction. I believe that spending excessive time on theoretical business models doesn't work well in these startup scenarios.
What motivates you to become an entrepreneur or to create your company?
Helping people, solving problems. That's the best thing.
Did you have any difficulties deciding your company name?
I was going through a lot of names, and I saw "Find a Tutor." I said, this is it. A lot of times people have said, no, this is not a good name, but I just love it, so I keep it.
What kind of courses are you offering?
We create closed economies within universities. We don't create the courses ourselves. Instead, we allow students to find tutors for specific subjects or create group courses with experienced tutors. We aim to provide a personalized learning experience and make education more accessible.
Can you explain how your platform works?
Our platform allows students to find tutors or join group courses in their university. Students can search for tutors, read reviews, book slots, and make payments. We set fixed prices for group courses, ensuring affordability for students while offering quality education. We limit the number of students in a group to provide personalized attention.
Did you face specific challenges in the initial months of your business?
Yes, we faced challenges, and one significant issue was a partnership dispute. I made a mistake by giving a friend 15% of the company without a legal agreement, and it led to complications. Eventually, I had to compensate him to resolve the situation. Despite this challenge, it served as a learning experience, and I'm now more cautious about partnerships and legal agreements.
How do you handle accounting for the company?
I handle accounting for the company myself, as I have a background in finance and accounting. In Switzerland, for smaller businesses, you can manage accounting independently until a certain revenue threshold. However, as we grow, we plan to hire external professionals to handle our accounting and financial statements.
Do you have employees, and if so, how many?
Yes, we have two full-time employees, one in Russia and one in India. We also work with freelancers for various tasks. Our hiring strategy is to keep the team small but highly effective. We plan to hire more in Switzerland for executive roles as the company grows. We aim to keep costs manageable and work with freelancers for many roles. For executive roles and tasks that require specialized knowledge in Switzerland, we prefer hiring locally.
How do you balance business and personal obligations and what's your routine and what's your strategy to go ahead every day?
I maintain a structured routine to balance my business and personal obligations. I work five days a week at my job at EHL, with an early wake-up time at 5:36 AM. I dedicate two hours each morning to working on the company before heading to my job at 8:30 AM. After work, I allocate one to two more hours to the company. On weekends, I devote my entire day to business matters. While I aim to sleep by 10 PM, it's usually closer to 11 or 11:30 PM. I used to function on only four hours of sleep but have since realized the benefits of getting more rest, especially as my role involves making crucial decisions for the company. Nowadays, I aim for seven to six hours of sleep.
My daily strategy involves waking up promptly when the alarm rings and starting the day by making my bed meticulously. I believe that starting the day positively can set the tone for the entire day, especially when using one's brain extensively. I've developed a reading habit, covering personal development and business development topics daily.
In the mornings, I follow a calm and deliberate routine, avoiding rushing through tasks. Additionally, I take a cold shower within 30 minutes of waking up to help wake myself up, despite my initial reluctance.
How do you prioritize innovation and adaptability to stay competitive in a constantly evolving market?
We prioritize innovation and adaptability by adopting a strategic approach based on our workload. During high-demand periods, such as when we're providing tutoring services, most of our innovations focus on improving sales processes. However, when demand decreases, we shift into a mode where we strive to surpass our previous performance.
Innovation is a significant priority for us, and our goal as entrepreneurs is to leverage the latest technology to assist people while also automating processes for efficiency and scalability.
What ethical considerations and sustainability practices are integrated into your business model?
Our business model integrates ethical considerations and sustainability practices by aligning with the Sustainable Development Goal (SDG) number four, which aims to achieve global literacy by 2030, focusing on primary education for all, including children, men, and women. We allocate at least 10% of our earnings to donations that support this goal, contributing to educational initiatives.
We also raise awareness through initiatives like "Study for Charity," where we encourage students to study with a qualified teacher for an hour or two, and at the end, they can donate any amount they wish, with 100% of the proceeds going to charity. This concept has allowed us to raise thousands of francs for charitable causes.
In terms of ethical considerations, we emphasize our commitment to genuine learning rather than enabling students to pass exams or complete projects without understanding the material. We firmly discourage unethical practices and strive to make this distinction clear to our students.
Which book, podcast, or research have you, has significantly influenced your entrepreneurial education?
One of the most influential books on my entrepreneurial education is "The Seven Habits of Highly Effective People." I find myself returning to it repeatedly because it offers enduring insights and wisdom that never seem to lose their value.
While I don't regularly listen to podcasts, I am interested in Neville Ravikant and his podcast, Twitter, and other related content. I plan to read his book, "The Almanac of Neville Ravikant." Neville Ravikant has made significant contributions to changing the dynamics in Silicon Valley and challenged the conventional approach to venture capitalism. His unique perspective and achievements make him a noteworthy figure to explore in the entrepreneurial space.
Conclusion:
Sarthak's story is an inspiring example of entrepreneurial success, marked by a deep commitment to education and social impact. From his humble beginnings in India to the creation of "Find a Tutor" in Switzerland, he has combined innovation, philanthropy, and entrepreneurship to provide educational opportunities for students while promoting personal development. His determination to solve problems, culture of continuous learning, and commitment to ethical and sustainable causes are core values that set his entrepreneurial journey apart. In the future, Sarthak will continue to inspire and bring about positive changes in the field of education.
PREMIUM PARTNERS
Simple accounting
Allow me to introduce myself, my name is Atlanto. The online platform that simplifies your day-to-day admin. Embark on your digital future now.
More
Attractive premium discounts
Helvetia supports start-ups with a premium discount up to 50% on individual insurance solutions.
More
PostFinance start-up package
PostFinance gives you the tools to get started – Benefit from two years of free account management and discover additional offers that make your business life easier.
More
Free months for new start-ups
Swisscom will cover your subscription costs for up to 6 months plus CHF 300.- credited to your Swisscom bill.
More