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Ej Methodology For 1 M1 M Ambassadors
 

Ej Methodology For 1 M1 M Ambassadors

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The EJ Methodology for 1M1M ambassadors to get familiar with, internalize, and propagate.

The EJ Methodology for 1M1M ambassadors to get familiar with, internalize, and propagate.

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    Ej Methodology For 1 M1 M Ambassadors Ej Methodology For 1 M1 M Ambassadors Presentation Transcript

    • Sramana Mitra
      • Primary Goal: Inspiration & Demystification
      • It can be done, you can do it, but it will take a lot of work and careful, diligent crafting; you can’t wing it
      • Luck is not a repeatable event; I can’t teach you how to be lucky
      • I can teach you how to craft your business if you are willing to put in the work
      • 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
      • Most first time entrepreneurs do not have the seasoning to raise external financing
      • If they do raise money, they give away a lot of equity early on
      • Most ideas are too small for the VC model
    • Worth Building, though Especially if you own 100% To own 100% of a business, you cannot raise money
    • $22.5m $5m 5% owner of $25m company sold for $100m
      • 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
      • Do not spray and pray
      • Positioning & Go to market strategy are key to business success
      • Use the EJ3 appendix to do your home work and ask the right questions to litmus test your idea
      • When an idea gains a strategy, your chances of business success go up significantly
      • Try to do some of the strategy work before coming to the roundtables so you know what questions to ask
      • Web 3.0 – the entire Taking On Giants section [EJ1]
      • Web 3.0 = (4C + P +VS)
      • Big section on the blog
      • Finisar: Bootstrapping To Billions [EJ1] - $5b market cap in 2001
      • Bootstrapping using services
      • RightNow: The Montana Mogul [EJ2] - $500m market cap in 2009
      • Great lesson on idea validation
      • Great lesson in bootstrapping the early stages to get to a big Series A valuation
      • PayCycle: SaaSing Back At Athe Economy [EJ3] – acquired by Intuit for $170m
      • Great segmentation and TAM analysis
      • Payroll for small businesses
      • 22–25 m small businesses in the US
          • @ $500/yr, TAM = $11–12.5 b
      • 5.9 million businesses that employ people
            • Majority mom & pops, no employees
          • TAM = $2.95 b
      • 5.2 m employers with < 20 employees
          • TAM = $2.6 b (Bottom Up)
      • Without segmentation, TAM appears larger
      Sramana Mitra : Positioning 03/09/10
      • The Find: Web 3.0 – Under Construction [EJ3] – segmentation
      • Uuma – busy professional women
      • Time constrained, not ladies who lunch
      • Over $100,000 household income, not my housekeeper
      • Style conscious, not the geek engineer
      Sramana Mitra : Positioning 03/09/10
    • 03/09/10 Sramana Mitra : Positioning Psychographic is as important as demographic
      • Appendix of EJ3 – Clarify your story - http://www.sramanamitra.com/clarify-your-story-excerpt/
      • 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, coming in June)
      • Vision India 2020
    • Blog and Strategy Roundtables