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The 1M/1M
Self-Assessment
          A MUST for entrepreneurs
                       Sramana Mitra
        http://1m1m.sramanamitra.com
1. Validation
Have you validated your business with customers? 
                      [Ref: Customer Validation |
            Validation Methodology: BtoB | BtoC]
2. Positioning
Are you able to articulate the precise positioning of your solution?
                               [Ref: Positioning | Value Proposition |
                   Customer Segmentation | Competitive Positioning]
3. Monetization
Free is NOT a business model. How do you monetize?
                            [Ref: Business Models]
4. TAM
                                        How big is your market opportunity?
This determines your financing and go-to-market strategy in a significant way.
                                                        [Ref: Market Sizing]
5. Bootstrapping
 Have you done enough bootstrapping before approaching investors?
Is your company fundable, or is it one that needs to be bootstrapped
                                    all the way? [Ref: Bootstrapping]
6. Financing
Over 99% of the entrepreneurs who go out to raise money get rejected. Are you planning to raise money?
                        Do you understand what it takes to raise money, what investors are looking for?
                Is your company fundable? Do you know how to assess what is fundable and what is not?
                                                                 Are you getting rejected by investors?
                                                                 Do you need to move to Silicon Valley?
                                   Do you know what is the current valuation range for your company?
                                                  Can you enhance the valuation? What are the levers?
               What are your different types of financing options and what are the mechanics of those?
                                                                                        [Ref: Financing]
7. Customer
       Acquisition
What is your customer acquisition strategy, cost,
         conversion rate, channel, channel cost?
                     [Ref: Customer Acquisition]
8. Team
 How do you balance between your need to keep costs down and getting things done,
as well as presenting a reasonably complete team to potential investors, in case you
                                                           are soliciting financing?
                                                                [Ref: Team Building]
9. Web, Mobile and
Social Businesses
                                    Do you have a differentiated strategy?
           The market is extremely crowded, but there are trends and gaps.
                                        Do you understand what they are?
   [Ref: Web 3.0 and eCommerce | Cloud Computing | Mobile and Social Apps]
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The 1M/1M Self assessment

  • 1. The 1M/1M Self-Assessment A MUST for entrepreneurs Sramana Mitra http://1m1m.sramanamitra.com
  • 2. 1. Validation Have you validated your business with customers?  [Ref: Customer Validation | Validation Methodology: BtoB | BtoC]
  • 3. 2. Positioning Are you able to articulate the precise positioning of your solution? [Ref: Positioning | Value Proposition | Customer Segmentation | Competitive Positioning]
  • 4. 3. Monetization Free is NOT a business model. How do you monetize? [Ref: Business Models]
  • 5. 4. TAM How big is your market opportunity? This determines your financing and go-to-market strategy in a significant way. [Ref: Market Sizing]
  • 6. 5. Bootstrapping Have you done enough bootstrapping before approaching investors? Is your company fundable, or is it one that needs to be bootstrapped all the way? [Ref: Bootstrapping]
  • 7. 6. Financing Over 99% of the entrepreneurs who go out to raise money get rejected. Are you planning to raise money? Do you understand what it takes to raise money, what investors are looking for? Is your company fundable? Do you know how to assess what is fundable and what is not? Are you getting rejected by investors? Do you need to move to Silicon Valley? Do you know what is the current valuation range for your company? Can you enhance the valuation? What are the levers? What are your different types of financing options and what are the mechanics of those? [Ref: Financing]
  • 8. 7. Customer Acquisition What is your customer acquisition strategy, cost, conversion rate, channel, channel cost? [Ref: Customer Acquisition]
  • 9. 8. Team How do you balance between your need to keep costs down and getting things done, as well as presenting a reasonably complete team to potential investors, in case you are soliciting financing? [Ref: Team Building]
  • 10. 9. Web, Mobile and Social Businesses Do you have a differentiated strategy? The market is extremely crowded, but there are trends and gaps. Do you understand what they are? [Ref: Web 3.0 and eCommerce | Cloud Computing | Mobile and Social Apps]
  • 11. Sign up for 1M/1M Mailing List

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