With only $700 in the bank, in 2006, Andres Moreno founded a company that is worth $350 million today. Open English, an online English-language learning module, owes its success to business agility, opportunity seizing and marketing strategy.
Seven years ago, the Venezuelan entrepreneur had a traditional English school in Caracas. Although already successful at the time, Moreno chose to reinvent his firm into an all-online model in response to a major change in the business environment: the growth of the internet.
Open English took advantage of the growing demand for language training in Latin America’s emerging nations to gather 70,000 students from 22 countries. In addition, its recent and successful expansion to Brazil, where 10,000 students enrolled within a year, further underscores the firm’s potential to increase market share.
Similarly, great part of the CEO’s success is the result of Open English’s value propositions. Not only do they offer high-quality, online lessons from native English speakers, but their coaching is also flexible, affordable and convenient to busy professionals.
Finally, the enterprise’s market strategy – “quirky, homemade commercials”(ABC,2013) – have effectively raised the brand’s popularity, while conveying the its friendly environment.
Andres Moreno has revolutionized the way English is being taught.
Websites:
http://www.miamiherald.com/2013/04/29/3370994/miami-based-open-english-raises.html
Video:
Virtual English Language School “Open English” Is Worth Millions