1M1M EJ Methodology
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1M1M EJ Methodology

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The Entrepreneur Journeys Methodology is the basic philosophy of the 1M/1M global initiative to help a million entrepreneurs reach a million dollars in annual revenue.

The Entrepreneur Journeys Methodology is the basic philosophy of the 1M/1M global initiative to help a million entrepreneurs reach a million dollars in annual revenue.

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  • The Books started coming in 2008 Fall. I have written 5 books in the last 2 years. The EJ series came out of the case studies on the blog, and addresses a methodology for entrepreneurship.

1M1M EJ Methodology 1M1M EJ Methodology Presentation Transcript

  • The EJ Methodology
    • Most businesses are too small for VCs
    • Worth Building, though
    • Especially if you own 100%
    • To own 100% of a business, you cannot raise money
    • Sramana Mitra
    • Primary Goal: Inspiration & Demystification
    • “ Crafting a Business”
    • vs
    • “ Being Lucky”
    • The EJ methodology is based on the assumption that it is better to bootstrap the early stage of a venture, and raise money only when you have a validated business, if at all
    • Validating the business idea is essential
    • EJ2 deals extensively with the methodology of validation
    • Investors never fund ideas that are not validated
    • Pitch at the roundtables AFTER doing some validation of your idea using the methodology in EJ2
    • Validation Methodology
      • RightNow: The Montana Mogul [EJ2] - $500m market cap in 2009
        • Great lesson on idea validation & bootstrapping the early stages to get to a big Series A valuation
      • Also Murli Thirumale (Ocarina) and Manoj Saxena (Webify)
    • Do not spray and pray
    • B:B PayCycle: SaaSing Back At Athe Economy [EJ3] – acquired by Intuit for $170m
      • Great Segmentation and TAM analysis
    • B:C The Find: Web 3.0 – Under Construction [EJ3]
      • Segmentation
    EJ3 Case Studies
    • Appendix of EJ3 – Clarify your story - http://www.sramanamitra.com/clarify-your-story-excerpt/
    • Efficient Innovators solve problems, not invent solutions looking for problems.
    • Venture Capital is not the only option.
    • Other Useful Case Studies & Principles
    • Web 3.0 = (4C + P + VS)
      • 4C = Content, Community, Commerce in Context
      • P = Personalization
      • VS = Vertical Search
    • Taking on Giants section of EJ1
    • Applies to all web businesses that have a specific context
    EJ1: Web 3.0 Framework
    • Bootstrapping to Billions - Finisar Case Study - EJ1 -Using services to fund product development
    • Free To Innovate - Creyptography Research Case Study - EJ4 - using services to fund IP development
    Bootstrapping Using Services
  • Open Source Go-to-Market Strategies
    • DimDim - EJ3
    • SugarCRM - EJ4
    • SpringSource - EJ4
    • CollabNet – EJ4
    • All Books on Amazon, Kindle, Smashwords
    • Entrepreneur Journeys (EJ1)
    • Bootstrapping, Weapon of Mass Reconstruction (EJ2)
    • Positioning, How To Test, Validate, And Bring Your Idea To Market (EJ3)
    • Innovation, Need Of The Hour (EJ4)
    • Vision India 2020
    • 45 Billion dollar business ideas
    • Business Fiction set in 2020
    • A futuristic retrospective
    • http://www.sramanamitra.com/2010/03/19/vision-india-2020-internships/