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EJ methodology


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Sramana Mitra's Entrepreneur Journeys (EJ) Methodology which is the underpinning of the 1M/1M program.

Published in: Business, Economy & Finance
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EJ methodology

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