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Strategy for 1M / 1M : Global Entrepreneurship Development Project

Strategy for 1M / 1M : Global Entrepreneurship Development Project

Published in: Business, Economy & Finance
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  • I am an entrepreneur (ent.), awarded a patent and also incubating more start-ups. Your endeavor is good. A hardship is raising investments. In a typical scenario ent. face big established players and people with access to capital. Invariably there is a pool of commission agents likes who waste lots of time of ent. There is a suggestion which I would like you to explore. If you can work on a structured model wherein the 1M ent. are unified under this 1M/1M model and these 1M ent. follow an escalation process where in the validated projects with comments/recommendations of internal ambassadors. If the results start happening right now this network will grow. Another aspect is protecting ideas. These two are major issues.

    Page 7: Each ambassador, thus, brings in and nurtures $20k entrepreneurs - seems need correction.
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  1. Sramana Mitra<br />1M / 1M<br />
  2. To help 1M entrepreneurs reach $1M in revenue and beyond.<br />Goal:<br />
  3. 1M/1M Ambassadors will use social media to create meaningful partnerships with entrepreneurship development organizations around the world<br />Channel<br />
  4. University Entrepreneurship Programs (MIT Deshpande Center)<br />University Entrepreneurship Clubs & e-Cells (e.g. IIT Bombay)<br />Alumni Groups (e.g. MITCNC)<br />Professional Groups (e.g. SVASE, ASTIA)<br />Ethnic Groups (e.g. TiE, Silicon French)<br />Government Programs (e.g. Singapore)<br />Etc.<br />Entrepreneurship Development Organizations (EDOs)<br />
  5. Online Roundtables<br />Deal Radar series on the blog: <br />Showcase entrepreneurs from the various networks<br />Find and profile companies that have hit $1M in revenue<br />May introduce a new series called Campus Radar or Incubation Radar for smaller companies<br />We will develop additional resources<br />Private online CEO lounges<br />Access to angel investors and VCs<br />Founder match-ups<br />Business development<br />Early adopter customer validation <br />Startup jobs<br />Service providers for outsourcing<br />In-person Meetups<br />Etc. <br />Books, blogs, columns: Portable mentoring devices to propagate the methodology<br />Resources<br />
  6. Two key efforts<br />How do we get to 1M / 1M?<br />
  7. 50 ambassadors<br />Each manage 20 EDO partnerships<br />Promote roundtables, and engage entrepreneurs<br />In each EDO, ambassadors will need to develop 10 internal ambassadors who will multiply the effect by another factor of 100<br />(50 x 20 x 10) x 100 = 10,000 x 100 = 1M<br />Each ambassador, thus, brings in and nurtures $20k entrepreneurs<br />Each internal ambassador brings in and nurtures 100<br />First, get 1M entrepreneurs engaged in the movement<br />
  8. Demystification<br />Idea validation<br />Bootstrapping<br />Positioning<br />Go to Market<br />Financing<br />Other<br />Then, get them to follow the EJ methodology<br />