examio

We know this today. It's normal to access content via Netflix, Spotify and the like. But in 2006, when the company examio was founded, the founders faced a major challenge with their idea of an online learning platform.

Today, examio stands for digital exam preparation. The company offers numerous products for optimal exam preparation, always focussing on 100% digital. To this end, learning content is reworked and presented on the e-learning platform in an understandable and compact way. In the form of multimedia exercises, interactive online courses and even a correction service, the user learns the knowledge content step by step on their way to the exam.

examio offers the concept of exam preparation on 8 different learning portals in the areas of law, business studies, A-levels and tax law, among others. Everyone can be helped here, from school leavers, trainees and students to those in continuing professional development.

‘We try to pick people up in their exam preparation and ensure a better understanding, especially in subjects where there is a lot of suffering.’ Julius originally comes from Cologne and wanted to study law or business administration. He then came across the then new German and European Business Law degree programme at the University of Siegen, where he was able to combine both of his interests. His degree in business law helps him today, especially when it comes to legal issues surrounding start-ups, he says. ‘Training as a business lawyer is like having a Swiss army knife. Thanks to the solid training, you have a rough idea of most areas and at the same time are given the tools to quickly familiarise yourself with new areas.’

The company is located in Friedrich Straße in Siegen in the building of an old textile factory and consists of a team of 21 people. In addition, examio also employs an increasing number of external authors and freelancers who provide support in areas such as screen design/UX.

How did you come up with the idea of examio and the associated idea of digital exam preparation?

When examio was founded in 2006/7, four of us were involved in its development. Back then, we developed a website called wiwiweb, which still exists today and which was intended to help us and other students prepare for the accounting exams. We made wiwiweb more for fun than anything else; none of us had yet thought about founding a company or making money with it. This possibility only emerged over the course of time and that's when the idea of founding a company first occurred to us.

After graduating, the two of us continued to drive the start-up forward. We expanded our range of topics, offered more content and thus reached additional target groups. For example, we started creating instructional videos and our courses became chargeable. I have been the sole Managing Director of examio since 2017.

What attracted you to setting up your own company?

From my point of view, there is a great attraction in being able to realise your own ideas. It is very exciting to try out something of your own and to do so largely independently, without the resistance that you would encounter in another company if you were an employee.

On the other hand, reasons require a high degree of willingness to suffer. At the beginning, you have a heavy workload and at the same time have to sacrifice a lot of salary and fear for your livelihood. Starting a business requires a lot of perseverance and almost chronic optimism that you will eventually reach your goal.

When did you decide to set up your own company?

It was a very lengthy process because we spent a long time looking for the key to earning money with our idea. The concept of monetising purely digital content in the form of a membership did not yet exist in Germany at that time. Until then, people only knew about newspaper subscriptions or perhaps DVDs with educational content.

I think the key moment came when we introduced the chargeable nature of our learning offers and we reached a critical revenue level coupled with monetisation.

What is/was the innovative aspect of examio?

The innovative aspect of examio lies in the fully digital product for exam preparation that we offer - with a strong focus on online marketing. Surprisingly, there are currently hardly any offers for digital exam preparation out there and, especially in the Corona period, our learning platform is creating a place for many people to continue learning efficiently with others. Especially now, when face-to-face courses have not been possible for months, we are playing an important role for many people. It's a great feeling to see that e-learning is clearly making a breakthrough in these eventful times. We have always firmly believed in this.

What was the biggest challenge you faced at examio?

A major turning point in the founding process was the debate within the founding team. Especially when it came to the direction of examio, the search for the right business model, we had to weigh up different strategies against each other and unfortunately could not always agree. This is also one of the reasons why I am now running the company alone. However, I am optimistic that the path we have chosen today is the right one.

To what extent did the university's Gründerbüro support you?

We benefited greatly from the start-up office at the University of Siegen. For example, we were one of the first companies to be provided with an office and the necessary infrastructure free of charge. We also received non-material support from the start-up office, for example in the form of coaching or counselling.

What is your advice for young founders?

Young founders should discuss their start-up plans with different people. Think about the target group at an early stage. Ask yourself what benefits the product will generate for the target group / society. Ask yourself the question of profitability (unless you want to set up in the non-profit sector). And once you have done this, I would advise you to have enough patience and perseverance.

Would you found a company again?

I asked myself this question for a long time. I think that if I could choose, I would start up a little later. Founding a company based on professional experience reduces the risk of failure. You may have already identified your first customers and have more practical experience. With this in mind, I would also start a start-up again.

This portrait is based on an interview with Julius Dücker in July 2020 and was written by Janice Gust.

 

Click here for the startup's homepage.