1Mby1M Founder Sramana Mitra wants entrepreneurs to not waste their time and money.
The waste stems from a widespread misunderstanding of how investors think.
Over 99% of founders chase funding before they are fundable.
Here, Sramana teaches how to build with customer money (otherwise known as revenue) until a startup reaches that fundable stage.
Once fundable, a startup can go to investors like a king, not a beggar.
Nowadays, startups can be built while a founder is still fully employed. Many entrepreneurs start as solo founders and achieve great progress until they need a team. Virtual teams are common these days and easily affordable.
At 1Mby1M, we support employed entrepreneurs and solopreneurs who are at the very beginning of their journeys. They might not even know what to build or how to build it.
We encourage entrepreneurs not to quit their day job until their business becomes fundable or sustainable.
Hundreds of thousands of entrepreneurs get rejected by investors and accelerators every year. Y Combinator rejects over 95% of their applicants. Andreessen Horowitz rejects 99% of theirs.
In this mind-boggling stream of rejections, there are numerous high potential companies that need to bootstrap their way to fundability or sustainability.
We accelerate their learning with the 1Mby1M Curriculum and over 1000 case studies of real-life success stories.
We support their fund-raising efforts through personal introductions to investors.
If you enjoy this course, check out 1Mby1M Basic, our curriculum-only option.
If you’re trying to assess why you’re getting rejections, use the 1Mby1M Self-Assessment.
According to a recent market research report, the global market for DevOps is estimated to grow from $6 billion in 2020 to $17.8 billion by 2026, at a CAGR of just under 20%. DevOps solutions are being increasingly adopted across various industries, with the telecom & ITES sector leading the growth. San Francisco-based PagerDuty (NYSE: PD) recently announced the results for the second quarter that outpaced market expectations.>>>
Sramana Mitra: What are the other major blocks?
John Davagian: We’ve got the concept of Computerized Machine Maintenance System (CMMS). We’ve a production system, which is also known as an MES system. We’ve a proprietary problem-solving engine we call Cloud Dispatch. Then there’s an analytics piece that wraps around all of this.
Sramana Mitra: Each of those building blocks have their own competitive landscape. Camstar comes to mind in the MES space. There’s a whole bunch of IoT companies that we have talked to that are operating in the automated machine management space. How do you fit into that ecosystem? How do you process that competitive landscape?>>>
During this week’s roundtable, we did a global romp through startup land.
First up we had Taha Jiwaji from Dar es Salaam, Tanzania, pitch Beem, a terrific cPaaS company that is already doing over $1M in revenue.
Then we had Nitin Khandelwal from New Delhi, India, pitch OneNDF, a terrific FinTech company that is also doing over $1M in revenue, although not all of it through their FinTech platform yet.
Next Mohammed Tai and Jian Ming Lin pitching Green Transport, a concept stage idea. Mohammed is an intern in the 1Mby1M program.
You can listen to the recording of this roundtable here.
Today’s 546th FREE online 1Mby1M Roundtable For Entrepreneurs is starting NOW, on Thursday, September 16, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. Click here to join. PASSWORD: startup All are welcome!
Sramana Mitra: Coming back to the venture discussion, what do you like to see before writing a check?
Bradley Harrison: We over-index on the founders. Our biggest thing is chemistry with the founding team. We try to make sure that we have that chemistry. In checking that chemistry, we plan on being partners with entrepreneurs for 10 to 15 years. If that goes well, we plan on keeping them in our bullpen forever. It’s a little bit of coachability and compatibility. We want to make sure that there are no issues with integrity or moral code. That’s the people side.>>>
Today’s 546th FREE online 1Mby1M Roundtable For Entrepreneurs is starting in 30 minutes, on Thursday, September 16, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. Click here to join. PASSWORD: startup All are welcome!
Financial software provider BlackLine (NASDAQ: BL) recently announced its quarterly results that surpassed market expectations. BlackLine is expanding its focus on its partner program to help drive digitization across the finance function of organizations.>>>
John discusses trends and opportunities within the manufacturing shop floor.
Sramana Mitra: Let’s start by introducing our audience to yourself as well as L2L.
John Davagian: I’m the CEO at L2L. I’ve been the CEO for just about six months. I’ve spent 20 plus years in the SaaS industry, primarily on the go-to-market side, and most recently, in significantly scaling a business called Salsify. L2L is a leading SaaS platform built for global manufacturers. At its core, we deliver a pragmatic, innovative, and transformative solution.>>>