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.
This feature from Crunchbase News covers the tech IPOs during the first quarter of the year 2021. There were 275 IPOs in all, driven by a surge in SPACs. For this week’s posts, click on the paragraph links.>>>
Sramana Mitra: What are the open problems in your domain?
Drew Ivan: Interestingly, interoperability is a problem that will never get solved. It is not something that is broken that we have to fix and once it is fixed, we need to move on.
Interoperability is almost like a characteristic of the healthcare system because as we start inventing new types of software and new types of data that we want to exchange between software, it drives the use for interoperability.>>>
I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I am about art and culture. In this series, I will typically publish a piece of art – one of my paintings – and I request you to spend a minute or two deeply meditating on it. I urge you to watch your feelings, thoughts, reactions to the piece, and write what comes to you, what thoughts it triggers, in the dialog area. Let us see what stimulation this interaction yields. For today – Night Descending
Night Descending I | Sramana Mitra, 2018 | Watercolor, Pastel, Brush Pens | 18 x 24, On Paper
I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I am about art and culture. In this series, I will typically publish a piece of art – one of my paintings – and I request you to spend a minute or two deeply meditating on it. I urge you to watch your feelings, thoughts, reactions to the piece, and write what comes to you, what thoughts it triggers, in the dialog area. Let us see what stimulation this interaction yields. For today – Village Bleu dans le Désert, Jodhpur II
Village bleu dans le désert, Jodhpur II | Sramana Mitra, 2018 | Watercolor, Pastel, Brush Pens | 18 x 24, On Paper
Sramana Mitra: Let’s do another use case besides the hospital system interoperability. Talk about other use cases where interoperability surfaces as a key issue.
Drew Ivan: The one that is topical right now is reporting COVID test results. The tests happen at laboratories that exist in hospitals or a standalone laboratory. For COVID, they report both positive and negative results. Every time they have a test result, they have to transmit a copy of that result to the public health department.>>>
As usual, we love Bootstrapping Using Services case studies. Avelead CEO Jawad Shaikh shares his journey.
Sramana Mitra: Let’s start at the beginning of your journey. Where are you from? Where were you born and raised? What kind of background did you have?
Jawad Shaikh: I was born in Pakistan. I came to the United States when I was four years old. I lived here in the States my entire life. My story falls under the Entrepreneur Journeys because my family is a business family. My father had his own business. I used to work with him. My story starts there.
According to a Markets and Markets report, the customer experience management market is estimated to grow from $8.5 billion in 2020 to $14.9 billion by 2025 at a CAGR of 11.8%. Medallia (NYSE: MDLA), a leading player in the market, recently announced its fourth quarter results that surpassed market expectations.>>>
Sramana Mitra: If the interoperability is within the hospital data and diverse proprietary systems, it is easier. When it comes to outside the bounds of that particular hospital system, what kind of issues do you face?
We are part of the Stanford hospital system. For certain procedures, our family also goes to UCSF. UCSF and Stanford have some level of interoperability, but there is also competitiveness, mistrust, and frictions that we noticed.>>>