The En Factor Podcast features conversations with entrepreneurs who have started, stumbled and succeeded.
Today’s guest is Samyr Qureshi, the Co-Founder & Chief Executive Officer of Knack, the leading peer tutoring platform for colleges and universities. Samyr has been featured on Inc.com as a Top 30 Entrepreneur to Watch, was recently inducted to the 2020 Class of Forbes 30 Under 30 – Education, named Emerging Tech Leader of the Year by Tampa Bay Tech, and featured in Tampa Bay Magazine’s Top 10 Under 40 for 2021. Knack is now used in 25 college campuses and is continuing to expand across the country.
Chapters
00:00 • Samyr’s Background and Journey
05:34 • Turning Academic Struggles into a Tutoring Mission
10:13 • Launching Knack and Winning a Business Plan Competition
13:24 • How Knack’s Peer Tutoring Platform Works
17:40 • Pivoting to University Partnerships
21:14 • Knack’s Business Model and Choosing the Right Co-Founder
28:11 • Aligning the Needs of Students, Tutors, and Universities
35:17 • Funding a Startup, Finding Product-Market Fit, and Persevering
Episode takeaways
- Solve a real problem you understand. Personal experiences can reveal meaningful business opportunities. Samyr’s own struggles accessing academic support helped inspire Knack, a peer tutoring platform designed to make tutoring more accessible to college students.
- Achieving product-market fit takes time and experimentation. Kanck initially operated as a direct-to-consumer platform before shifting toward university partnerships, a model that better aligned with its mission and long-term growth strategy.
- Successful business models create value for all stakeholders involved. Knack benefits students seeking tutoring, tutors looking for flexible work, and universities seeking to expand academic support without significantly increasing their operational burden.
- Entrepreneurs don’t need to have every answer themselves. Samyr emphasized the importance of seeking advice, learning from experienced business leaders, and building relationships that can provide guidance, resources, and new opportunities.
- Building a business with partners requires trust, shared goals, and the ability to navigate disagreements professionally. Samyr recommends spending meaningful time with potential co-founders before committing and establishing a clear, adaptable vision for the business.
- Venture capital isn’t the only path to financing a business. Entrepreneurs should explore options such as business competitions, grants, friends and family, angel investors, and venture capital while considering whether their goals align with the expectations that come with outside investment.
- Expanding too quickly without validating demand can waste time, money, and resources. Samyr shared that it took Knack approximately four years to achieve product-market fit, requiring the company to pivot its business model and remain persistent through financial and operational challenges.
- Entrepreneurship requires passion, resilience, and a willingness to keep learning. Samyr’s advice is to focus on making progress every day, build a network of people who can help, and recognize that meaningful progress may be difficult to see until you step back and look at how far you’ve come.
The En Factor® Podcast
Conversations with Entrepreneurs
Hosted by Dr. Rebecca White
Our audience of aspiring and established entrepreneurs are inspired to persevere throughout their entrepreneurial journey. You will hear first-hand stories of success, resilience through failure, and how to become a master in your field.
