Considering the growth in new opportunities in the education market, Matt Chandler, CEO of 4.0 Schools, looks at where we should be investing. He says that ‘when it comes to investing in the future of the school, we’re doing it wrong. We’re too focused on scaling things that have already been built and not focused enough on new ideas and the people who have them’.
He continues: ‘Instead of investing real time and money in the first three [early] stages, we’ve mostly left this to chance, choosing to pile up investment dollars on the right [later stage investments] where perceived risk is lower and perceived impact is higher. We too often bless something that’s worked once and lavish upon it tons of money in the name of “scaling what works”. ‘
‘We get drunk on a scale, quickly forgetting that all big ideas were once small. KIPP started as a one-classroom experiment in Houston; Sal Khan was scratching out videos to his niece late at night while he still held down his analyst job. We should be looking for better ways to invest at this stage when we can actually influence whether someone pursues a crazy idea instead of just settling into the status quo’.
Read the article here and see why he says we should be ‘spreading our investment dollars across all five stages, making many more bets in the early stages while still making a few big bets at the later stages. We could make thousand’s more little bets at the early stage for the same money we’d spend on one late-stage bet’.