{"id":10178,"date":"2020-03-03T16:14:53","date_gmt":"2020-03-03T16:14:53","guid":{"rendered":"https:\/\/www.mytutor.co.uk\/university-advice\/?p=869"},"modified":"2023-01-05T14:40:19","modified_gmt":"2023-01-05T14:40:19","slug":"whats-mytutor-doing-for-your-tutoring-business","status":"publish","type":"post","link":"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/","title":{"rendered":"What\u2019s MyTutor doing for your tutoring business?"},"content":{"rendered":"

\"\"

At MyTutor, our tutors (about 10,000 of you, all over the country) and our team (about 40 of us, in London) work together to make one-to-one tuition available to all, providing thousands of lessons every day. And while we know about all of the amazing work that you do as tutors, we know that much of what goes on at MyTutor might be a bit of a mystery from where you\u2019re looking. Since you\u2019re important stakeholders, we want to give you a rundown of the MyTutor business over three posts:<\/span><\/p>\n

    \n
  1. Where we\u2019re at financially<\/strong><\/li>\n
  2. How our teams support your tutoring<\/strong><\/li>\n
  3. Our plans to keep building a platform that works for you<\/strong><\/li>\n<\/ol>\n

    1. Where we\u2019re at financially \ud83d\udcb0<\/h1>\n

    First up, here\u2019s a bit about how we\u2019re funded, and how it impacts your tutoring.<\/p>\n

    How does investment work?<\/h2>\n

    As you\u2019ll know, to start and grow a business, you normally need investment (money) to i) build and keep improving your product ii) tell the world about it and build your customer base (marketing) and iii) pay your staff. (That\u2019s a super-quick sum-up, and we\u2019ll talk more about everything that makes MyTutor tick in our upcoming blogs).<\/p>\n

    In the world of early-stage businesses, there are a few standard stages of investment, or \u201cinvestment rounds\u201d, that most new companies follow. Here\u2019s how they work:<\/p>\n

    Seed funding:<\/strong> This is when a founder (or a few co-founders, in our case) has had a business idea, built a convincing business plan and pitched the idea to investors (like on Dragon\u2019s Den, but with more powerpoint slides). Then with a leap of faith and a handshake, a business is born.<\/p>\n

    Series A:<\/strong> Normally 1-3 years later, at this stage, a business has had a chance to prove itself with a great product and fast growth. This series of funding gives it the chance to improve its product and continue to grow so it has the greatest possible impact.<\/p>\n

    Series B:<\/strong> This stage can happen at any point after series A, but ultimately a company will look for investment at this point to help them boost their growth and push their success to the next level. That might mean they start offering a wider range of different projects, try selling to different markets, or significantly ramp up their marketing to get lots more new customers.<\/p>\n

    Rounds of investment can continue alphabetically like this for, well, as long as investors see fit to keep supporting the growth of the company. The amount of investment a business needs is linked to the size of the problem the company is going after, and how quickly it\u2019s able to make an impact.<\/p>\n

    Where we\u2019re at now – growing so we can improve education for all<\/h2>\n

    MyTutor was founded in 2013, then received its series A funding over 2017 and 2018. It\u2019s still pre-profit – this means we\u2019re putting more money into improving and growing the business than what we currently make from delivering tuition.<\/p>\n

    In the first few years, it\u2019s normal to have more money going out than revenue coming in. The rate at which a business aims to grow depends a lot on the problem they\u2019re tackling, and the ultimate goal they\u2019re trying to achieve. In MyTutor\u2019s case, we\u2019re working towards a world where high quality one-to-one learning is stress-free for those who can afford it, and funded for those who can\u2019t. Because our mission is so ambitious, it takes time (and investment) for a business like this to begin generating profit. Some examples of businesses that also aren\u2019t profit-generating yet are Uber and Monzo – and they\u2019re huge change-makers! The key with businesses like ours is to use a combination of revenue and investment to improve their product as much as possible, to maximise its impact on the world.<\/p>\n

    \"illustration-mytutor\"

    Up next:<\/em> how investment supports you as a tutor<\/h2>\n

    Now that we\u2019ve covered how we\u2019re funded and how we grow, in the next blog we\u2019ll take a deep dive into the different teams at MyTutor and what they do for you. After that we\u2019ll look at what\u2019s on the horizon, and how we\u2019re going to keep building a platform that works for you.<\/p>\n","protected":false},"excerpt":{"rendered":"

    At MyTutor, our tutors (about 10,000 of you, all over the country) and our team (about 40 of us, in London) work together to make one-to-one tuition available to all, providing thousands of lessons every day. And while we know…<\/p>\n","protected":false},"author":6,"featured_media":871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[792,790],"tags":[],"yoast_head":"\nWhat\u2019s MyTutor doing for your tutoring business? | MyTutor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What\u2019s MyTutor doing for your tutoring business? | MyTutor\" \/>\n<meta property=\"og:description\" content=\"At MyTutor, our tutors (about 10,000 of you, all over the country) and our team (about 40 of us, in London) work together to make one-to-one tuition available to all, providing thousands of lessons every day. And while we know...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/en-gb.facebook.com\/MyTutorUK\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-03T16:14:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-05T14:40:19+00:00\" \/>\n<meta name=\"author\" content=\"MyTutor\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"MyTutor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/\",\"url\":\"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/\",\"name\":\"What\u2019s MyTutor doing for your tutoring business? | MyTutor\",\"isPartOf\":{\"@id\":\"https:\/\/www.mytutor.co.uk\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2020-03-03T16:14:53+00:00\",\"dateModified\":\"2023-01-05T14:40:19+00:00\",\"author\":{\"@id\":\"https:\/\/www.mytutor.co.uk\/blog\/#\/schema\/person\/eb46e4b27ee828e9c64641fdca042c7b\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.mytutor.co.uk\/blog\/#website\",\"url\":\"https:\/\/www.mytutor.co.uk\/blog\/\",\"name\":\"\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.mytutor.co.uk\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.mytutor.co.uk\/blog\/#\/schema\/person\/eb46e4b27ee828e9c64641fdca042c7b\",\"name\":\"MyTutor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.mytutor.co.uk\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ea1dc30e69fb867e4795c71eb9610de1?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ea1dc30e69fb867e4795c71eb9610de1?s=96&d=mm&r=g\",\"caption\":\"MyTutor\"},\"sameAs\":[\"http:\/\/www.mytutor.co.uk\"],\"url\":\"https:\/\/www.mytutor.co.uk\/blog\/author\/mytutorweb\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What\u2019s MyTutor doing for your tutoring business? | MyTutor","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/","og_locale":"en_US","og_type":"article","og_title":"What\u2019s MyTutor doing for your tutoring business? | MyTutor","og_description":"At MyTutor, our tutors (about 10,000 of you, all over the country) and our team (about 40 of us, in London) work together to make one-to-one tuition available to all, providing thousands of lessons every day. And while we know...","og_url":"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/","article_publisher":"https:\/\/en-gb.facebook.com\/MyTutorUK\/","article_published_time":"2020-03-03T16:14:53+00:00","article_modified_time":"2023-01-05T14:40:19+00:00","author":"MyTutor","twitter_misc":{"Written by":"MyTutor","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/","url":"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/","name":"What\u2019s MyTutor doing for your tutoring business? | MyTutor","isPartOf":{"@id":"https:\/\/www.mytutor.co.uk\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/#primaryimage"},"image":{"@id":"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/#primaryimage"},"thumbnailUrl":"","datePublished":"2020-03-03T16:14:53+00:00","dateModified":"2023-01-05T14:40:19+00:00","author":{"@id":"https:\/\/www.mytutor.co.uk\/blog\/#\/schema\/person\/eb46e4b27ee828e9c64641fdca042c7b"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.mytutor.co.uk\/blog\/tutors\/whats-mytutor-doing-for-your-tutoring-business\/#primaryimage","url":"","contentUrl":""},{"@type":"WebSite","@id":"https:\/\/www.mytutor.co.uk\/blog\/#website","url":"https:\/\/www.mytutor.co.uk\/blog\/","name":"","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.mytutor.co.uk\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.mytutor.co.uk\/blog\/#\/schema\/person\/eb46e4b27ee828e9c64641fdca042c7b","name":"MyTutor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.mytutor.co.uk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ea1dc30e69fb867e4795c71eb9610de1?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ea1dc30e69fb867e4795c71eb9610de1?s=96&d=mm&r=g","caption":"MyTutor"},"sameAs":["http:\/\/www.mytutor.co.uk"],"url":"https:\/\/www.mytutor.co.uk\/blog\/author\/mytutorweb\/"}]}},"_links":{"self":[{"href":"https:\/\/www.mytutor.co.uk\/blog\/wp-json\/wp\/v2\/posts\/10178"}],"collection":[{"href":"https:\/\/www.mytutor.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mytutor.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mytutor.co.uk\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mytutor.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=10178"}],"version-history":[{"count":3,"href":"https:\/\/www.mytutor.co.uk\/blog\/wp-json\/wp\/v2\/posts\/10178\/revisions"}],"predecessor-version":[{"id":12653,"href":"https:\/\/www.mytutor.co.uk\/blog\/wp-json\/wp\/v2\/posts\/10178\/revisions\/12653"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mytutor.co.uk\/blog\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.mytutor.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=10178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mytutor.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=10178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mytutor.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=10178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}