By guest author Irina Patterson Entrepreneurs often say to me, “I love 1M/1M. I’d love to join, but I don’t have $1,000.” Then we talk some more and I find out that they spend $15,000 on building their site without validating their idea. Or, they paid someone $2,000 to write their business plan in hope
By guest author Irina Patterson Over the past year, we have been talking to various investors – VCs and angels, and incubators and accelerators. What we discovered that the entire startup ecosystem is structured to look for and invest in the less than 1% of the entrepreneurs who are ready and fundable. For example, Highway
By guest author Irina Patterson We, at 1M/1M, have invested significant resources to dispel the myth about seed funding. We engaged with and interviewed some very successful entrepreneurs who bootstrapped multimillion dollar businesses without outside funding. Here are just a few examples: Zoho [CEO Sridhar Vembu], RightNow [CEO Greg Gianforte], eClinicalWorks [CEO Girish Navani] ClubPlanet
By guest author Irina Patterson I recently read a book by Philip Delves Broughton called Ahead of the Curve – Two Years at Harvard Business School. The book is about Philip’s firsthand experience at HBS during 2004-2006. The book is so sarcastic that, reportedly, it made Harvard very unhappy. I enjoyed the book, but it
By guest author Irina Patterson To date, on this blog, we have interviewed more than 30 incubator managers and more than 40 angel investors, and all of them are looking for solutions to scalable and effective mentoring resources. Most mentors are active or retired entrepreneurs, senior executives, and incubator managers themselves. Most seek not only emotional satisfaction
By guest author Irina Patterson Ms. Sramana Mitra, the owner of this blog and founder of 1M/1M, interviewed hundreds of successful technology entrepreneurs, many of whom are her good friends. All of them built successful multi-million dollar technology companies by trial and error. Many made mistakes that easily cost them a few million dollars in lengthy
By guest author Irina Patterson For the past three decades, serious technology entrepreneurs have come to Silicon Valley to seek help with their early-stage businesses. Ms. Sramana Mitra, the owner of this blog, founded the One Million by One Million program (1M/1M) so that they wouldn’t need to come to Silicon Valley. 1M/1M is a global
By guest authors Irina Patterson and Candice Arnold Dave: When we select our companies, we’re trying to get a feel for who the entrepreneurs themselves are. Are they ones who would benefit from a mentorship-driven network, in terms of being coachable and being open to change? The final thing is just looking at the team’s