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Ej Methodology For 1 M1 M Ambassadors


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

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Ej Methodology For 1 M1 M Ambassadors

  1. Sramana Mitra
  2. <ul><li>Primary Goal: Inspiration & Demystification </li></ul>
  3. <ul><li>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 </li></ul><ul><li>Luck is not a repeatable event; I can’t teach you how to be lucky </li></ul><ul><li>I can teach you how to craft your business if you are willing to put in the work </li></ul>
  4. <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>
  5. <ul><li>Most first time entrepreneurs do not have the seasoning to raise external financing </li></ul><ul><li>If they do raise money, they give away a lot of equity early on </li></ul><ul><li>Most ideas are too small for the VC model </li></ul>
  6. Worth Building, though Especially if you own 100% To own 100% of a business, you cannot raise money
  7. $22.5m $5m 5% owner of $25m company sold for $100m
  8. <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>
  9. <ul><li>Do not spray and pray </li></ul>
  10. <ul><li>Positioning & Go to market strategy are key to business success </li></ul><ul><li>Use the EJ3 appendix to do your home work and ask the right questions to litmus test your idea </li></ul><ul><li>When an idea gains a strategy, your chances of business success go up significantly </li></ul><ul><li>Try to do some of the strategy work before coming to the roundtables so you know what questions to ask </li></ul>
  11. <ul><li>Web 3.0 – the entire Taking On Giants section [EJ1] </li></ul><ul><li>Web 3.0 = (4C + P +VS) </li></ul><ul><li>Big section on the blog </li></ul>
  12. <ul><li>Finisar: Bootstrapping To Billions [EJ1] - $5b market cap in 2001 </li></ul><ul><li>Bootstrapping using services </li></ul>
  13. <ul><li>RightNow: The Montana Mogul [EJ2] - $500m market cap in 2009 </li></ul><ul><li>Great lesson on idea validation </li></ul><ul><li>Great lesson in bootstrapping the early stages to get to a big Series A valuation </li></ul>
  14. <ul><li>PayCycle: SaaSing Back At Athe Economy [EJ3] – acquired by Intuit for $170m </li></ul><ul><li>Great segmentation and TAM analysis </li></ul>
  15. <ul><li>Payroll for small businesses </li></ul><ul><li>22–25 m small businesses in the US </li></ul><ul><ul><ul><li>@ $500/yr, TAM = $11–12.5 b </li></ul></ul></ul><ul><li>5.9 million businesses that employ people </li></ul><ul><ul><ul><ul><li>Majority mom & pops, no employees </li></ul></ul></ul></ul><ul><ul><ul><li>TAM = $2.95 b </li></ul></ul></ul><ul><li>5.2 m employers with < 20 employees </li></ul><ul><ul><ul><li>TAM = $2.6 b (Bottom Up) </li></ul></ul></ul><ul><li>Without segmentation, TAM appears larger </li></ul>Sramana Mitra : Positioning 03/09/10
  16. <ul><li>The Find: Web 3.0 – Under Construction [EJ3] – segmentation </li></ul>
  17. <ul><li>Uuma – busy professional women </li></ul><ul><li>Time constrained, not ladies who lunch </li></ul><ul><li>Over $100,000 household income, not my housekeeper </li></ul><ul><li>Style conscious, not the geek engineer </li></ul>Sramana Mitra : Positioning 03/09/10
  18. 03/09/10 Sramana Mitra : Positioning Psychographic is as important as demographic
  19. <ul><li>Appendix of EJ3 – Clarify your story - </li></ul>
  20. <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, coming in June) </li></ul><ul><li>Vision India 2020 </li></ul>
  21. Blog and Strategy Roundtables