
Entrepreneurs often bet on markets that are yet to develop.
Good entrepreneurs often create new markets. Steve Jobs CREATED the smartphone market.
VCs bet on such bets.
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Product and Technology are not the same.
While technology failures are difficult to recover from, product issues can be addressed.
Often, once a startup starts to engage with the market, it develops a more sophisticated understanding of the market’s needs. Features, functions, integrations, APIs – a lot of input comes into the company through customer immersion.
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At the heart of most tech companies is, of course, technology. Today, the market is particularly frothy around Artificial Intelligence. AI is a technology that is notorious for not working as envisioned.
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I have been running 1Mby1M since 2010. I find myself saying to entrepreneurs ad nauseam that VCs want to invest in startups that can go from zero to $100 million in revenue in 5 to 7 years.
Startups that do not have what it takes to achieve velocity should not be venture funded.
Experienced VCs, over time, have developed heuristics to gauge what constitutes a high growth venture investment thesis.
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For educators and people who want to build thriving communities of entrepreneurs, we have designed a couple of courses that give a roadmap.
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Friends,
Many of you have responded to our collaboration requests on LinkedIn.
Many of you have reached out to us independently, wanting to add value to the work we do in developing the tech entrepreneurship pipeline around the world.
We are now much better equipped to harness your desire to contribute in a concrete way.
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For the busy wannabe entrepreneur, we have designed some bite sized courses that offer a preview into the 1Mby1M methodology.
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At 1Mby1M, we welcome entrepreneurs from all over the world and our courses include case studies of entrepreneurs across different regions.
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