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

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