1 M1 M Ambassadors Deliverables
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1 M1 M Ambassadors Deliverables

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These are the deliverables that 1M1M ambassadors should focus on as they work with EDOs.

These are the deliverables that 1M1M ambassadors should focus on as they work with EDOs.

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1 M1 M Ambassadors Deliverables 1 M1 M Ambassadors Deliverables Presentation Transcript

  • Sramana Mitra
    1M / 1M
  • To help 1M entrepreneurs reach $1M in revenue and beyond.
    Goal:
  • 1M/1M Ambassadors will use social media to create meaningful partnerships with entrepreneurship development organizations around the world
    Channel
  • Incubators
    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)
  • 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
  • Two key efforts
    How do we get to 1M / 1M?
  • 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
  • Demystification
    Idea validation
    Bootstrapping
    Positioning
    Go to Market
    TAM Analysis
    Financing
    Other
    Then, get them to follow the EJ methodology
  • Identify your core group of 20 EDOs:
    Ruchi Sharma is doing some research to help you
    But it is your responsibility to identify the EDOs you plan to focus on
    Contact the EDO leadership and influencers:
    Use the EDO pitch to explain the mission and the vision, as well as the mechanics and what’s in it for them.
    Get them to attend the roundtables
    As an ongoing “touch” mechanism, add the people you are working with to Maureen’s Roundtable Supporter email list so that they receive the weekly roundtable invitations every Friday.
    Ambassador Deliverables
  • Follow-up:
    Once they have attended a roundtable and got the flavor of the program, follow-up to see what they thought, and how engaging the startup companies within their organization would help them.
    Close the deal:
    If they agree to partner, work with Maureen to add them to the right lists, get their logos on our site, etc.
    Work the EDO:
    Ask for a list of 10 entrepreneurs who would benefit from the program, and get them to follow the methodology, and bring them to pitch at the roundtables.
    Ambassador Deliverables (contd. - 1)
  • Internal Ambassadors:
    From among those within the EDOs who are using the program, develop internal ambassadors.
    Internal ambassadors should do exactly what you do, but with a group of entrepreneurs within the EDO / geography they are in.
    As we develop the internal ambassadors, our penetration of the geo / EDO will become deeper.
    Each 1M1M ambassador needs to develop 10 Internal ambassadors.
    Ambassador Deliverables (contd. -2)
  • Further penetration into the EDO/Geo:
    For every entrepreneur who is ready to pitch, there are at least 100 who are not.
    Conceivably, the Internal Ambassadors can run classes within the EDO to prepare entrepreneurs to pitch at the roundtables (and consequently to customers, partners, investors).
    1M1M ambassadors can also run such classes within the EDOs in your geo.
    The goal is to get entrepreneurs oriented to the basics of the methodology and utilize the resources we’re putting together.
    Ambassador Deliverables (contd. -3)
  • Connecting the dots:
    Much of business success is about connecting the dots. I have a large network that I am willing to put to work for 1M1M.
    To the extent you feel comfortable, you can both access the network, as well as get the broader 1M1M community to leverage it.
    This is why, I encourage all of you, your EDO contacts, the entrepreneurs – to use LinkedIn extensively. It is the easiest way for us to use the network for customer validation, developing business partnerships, finding investors, etc.
    Role of the Network
  • There is a host of additional services that we could offer, but until we have critical mass and can start getting some sponsors, it would be difficult to finance high quality services such as:
    A private 1M1M CEO lounge
    A 1M1M Mentor network
    A 1M1M Angel network
    A deal screening service that presents a set of screened deals to mentors, investors, or VCs
    So, our immediate goal is to close 1000 EDO partnerships, and get to 1 million entrepreneurs following the basic EJ methodology.
    Follow-on Services for 1M1M