Why did you decide to offer MyNewTerm for free during the initial rollout?
Replied byWayne Cartmel
Founder & CEO at MyNewTerm
Niche: Edu
Revenue: Approx. 540,000 USD/month
Location: Silsoe, Bedfordshire, United Kingdom
Started: 2015
No school would pay for a new, unproven system that had no candidates using it. Since it is a two-sided marketplace, we needed job openings to attract candidates and candidates to attract schools. Giving the software away for free was the only way to start the marketplace flywheel.
0
From the Full Interview
This answer is part of a full interview with Wayne Cartmel, Founder & CEO at MyNewTerm.
Share this Answer
Found this insight valuable? Share it with your network to help others learn from Wayne Cartmel's experience.
Cite This Answer
Use this answer in your research, article, or academic work
Related Answers
Why did you decide to bootstrap MyNewTerm rather than seeking institutional venture capital?
By Wayne Cartmel
Edu
Approx. 540,000 USD/mo
What initial frustrations as a teacher inspired you to create MyNewTerm?
By Wayne Cartmel
Edu
Approx. 540,000 USD/mo
How did you find your co-founder and Chief Technology Officer during the early days?
By Wayne Cartmel
Edu
Approx. 540,000 USD/mo
How did you overcome the initial trust and compliance barriers in the education sector?
By Wayne Cartmel
Edu
Approx. 540,000 USD/mo
How is MyNewTerm incorporating artificial intelligence into the platform for candidates?
By Wayne Cartmel
Edu
Approx. 540,000 USD/mo
What is your long term vision for MyNewTerm and the UK school system?
By Wayne Cartmel
Edu
Approx. 540,000 USD/mo
What is MyNewTerm, and who are the primary users of the platform?
By Wayne Cartmel
Edu
Approx. 540,000 USD/mo