The 1M/1M Self assessment

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This is the 1M/1M Self-assessment Test for entrepreneurs. The curriculum modules references here are for our premium members only, and the starting point of the 1M/1M premium program. However, you can review the questions for free.

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  • The 1M/1M Self assessment

    1. The 1M/1MSelf-Assessment A MUST for entrepreneurs Sramana Mitra http://1m1m.sramanamitra.com
    2. 1. ValidationHave you validated your business with customers?  [Ref: Customer Validation | Validation Methodology: BtoB | BtoC]
    3. 2. PositioningAre you able to articulate the precise positioning of your solution? [Ref: Positioning | Value Proposition | Customer Segmentation | Competitive Positioning]
    4. 3. MonetizationFree is NOT a business model. How do you monetize? [Ref: Business Models]
    5. 4. TAM How big is your market opportunity?This determines your financing and go-to-market strategy in a significant way. [Ref: Market Sizing]
    6. 5. Bootstrapping Have you done enough bootstrapping before approaching investors?Is your company fundable, or is it one that needs to be bootstrapped all the way? [Ref: Bootstrapping]
    7. 6. FinancingOver 99% of the entrepreneurs who go out to raise money get rejected. Are you planning to raise money? Do you understand what it takes to raise money, what investors are looking for? Is your company fundable? Do you know how to assess what is fundable and what is not? Are you getting rejected by investors? Do you need to move to Silicon Valley? Do you know what is the current valuation range for your company? Can you enhance the valuation? What are the levers? What are your different types of financing options and what are the mechanics of those? [Ref: Financing]
    8. 7. Customer AcquisitionWhat is your customer acquisition strategy, cost, conversion rate, channel, channel cost? [Ref: Customer Acquisition]
    9. 8. Team How do you balance between your need to keep costs down and getting things done,as well as presenting a reasonably complete team to potential investors, in case you are soliciting financing? [Ref: Team Building]
    10. 9. Web, Mobile andSocial Businesses Do you have a differentiated strategy? The market is extremely crowded, but there are trends and gaps. Do you understand what they are? [Ref: Web 3.0 and eCommerce | Cloud Computing | Mobile and Social Apps]
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