1Mby1M Support During Failures or Pivots

6. If my startup fails or pivots, will 1Mby1M still support me through the transition?

Yes, 1Mby1M is explicitly designed to support entrepreneurs through the challenges of startup pivots and even potential failures. This is a core part of their “long-term mentoring” philosophy and sets them apart from programs with rigid “graduation” criteria.

Here’s how 1Mby1M supports you through transitions like failure or pivots:

1. Embracing Pivots as a Strategic Tool:
   • Sramana Mitra’s methodology views pivoting not as a sign of failure, but as a calculated and often necessary strategic shift. The program emphasizes validation before pivoting to ensure you’re not just trading one unvalidated idea for another.
   • Content within 1Mby1M and Sramana’s broader publications frequently discuss how to approach a pivot strategically, recognizing the signs, and implementing a new vision. This indicates a structured approach to guiding you through such transitions.
2. Continuous Mentorship and Feedback:
   • The 1Mby1M Premium membership is continuous and renewable. This means that if your startup fails, you don’t lose access to the mentorship. You can bring your lessons learned, your new ideas, or your pivot strategy to the private roundtable sessions for personalized feedback from Sramana.
   • Her candid, “tell you what you need to hear” approach is particularly valuable during difficult transitions, as it helps you identify weaknesses and plot a viable new course.
3. Learning from Failure (and Pivots) is Built In:
   • The 1Mby1M curriculum includes “Catching Up On Readings: 397 Startup Failure Post-Mortems.” This demonstrates an institutional understanding that failure is a part of the entrepreneurial journey and a commitment to helping founders learn from both successes and setbacks.
   • The vast array of case studies often highlight companies that pivoted or faced significant challenges before finding success, offering real-world examples of how to navigate these situations.
4. Guidance on “When to Call It Quits”:
   • Beyond just pivoting, 1Mby1M and Sramana’s resources also cover the tough decision of “When It’s Time to Call It Quits.” This indicates a holistic approach to entrepreneurial support, acknowledging that not every venture will succeed and providing guidance for graceful exits and learning from the experience.
5. Focus on Building Entrepreneurial Muscle:
   • The program aims to build entrepreneurs who are “agile and adaptable” and possess the “ability and skill to pivot.” Even if a specific startup doesn’t work out, the skills, knowledge, and mindset you gain through 1Mby1M are designed to be transferable to your next venture.

In essence, 1Mby1M provides continuous support through pivots and even failures by:

• Offering a structured methodology for assessing and executing pivots.
• Providing ongoing, personalized mentorship in private roundtables, allowing you to discuss your changing circumstances directly with Sramana.
• Integrating learning from both successes and failures into its curriculum.
• Fostering an entrepreneurial mindset that views challenges as learning opportunities for future ventures.

As long as you maintain your membership, 1Mby1M remains a resource to guide you through the ups and downs of your entrepreneurial journey.