april india keynote 2011
DESCRIPTION
Sramana Mitra's speaking tour in India April 2011 - keynote.TRANSCRIPT
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http://1m1m.sramanamitra.com
To help a million entrepreneurs reach a million dollars in annual revenue and beyond
One Million by One Million
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Case Study: IDS Software
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$10M a yr semiconductor yield management software company
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Entrepreneur owned 80% of the company
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Total Available Market (TAM): $150 M
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$150 M TAM => Too Small For VCs
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Exit price: $30 MEntrepreneur made $24 M
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Successful Entrepreneur?
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99% of entrepreneurs looking for financing get rejected
Fact:
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Yes, Even In Silicon Valley
99% Rejection Rate
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Market Opportunity Too Small
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Tyranny Of The TAM
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Many more $5M, $10M, $20M, $50M, $150M opportunities than $500M or $1B ones
Worth building, especially if you own a large %
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90% OWNER OF $5M COMPANY SOLD FOR $25M
Which entrepreneur makes more money?
5% OWNER OF $25M COMPANY SOLD FOR $100M
$22.5m $5m
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Ownership Matters
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Case Study: Facebook
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$500k at $5M$12.7M at $98M
First two rounds:
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How do you preserve that much ownership?
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Bootstrap to Validation and Momentum
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Early stages: Lean, Lean, Lean
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Entrepreneurship = Financing
Misconception
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Entrepreneurship = (Customers + Revenue + Profits)
Truth: Financing is optional
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An old error is generally more popular than a new truth
Unfortunately
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Please avoid Silicon Valley’s errors
Indian entrepreneurs
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Focus on customers, not investors
Scarce resources
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Do not spray and pray1M/1M mantra of lean startups:
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Do not try to boil the ocean
Focus:
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Case Study: PayCyclePositioning
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04/07/2023 One Million by One Million 30
PayCycle: Outsourced Payroll Services (SaaS)
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04/07/2023 One Million by One Million 31
ADP: Payroll Services for Enterprises
Competition:
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04/07/2023 One Million by One Million 32
Paychex: Payroll Services for the Mid-market
Competition:
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Where is the gap?Can’t compete head-on with large companies …
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04/07/2023 One Million by One Million 34
Payroll SaaS for Very Small Businesses with < 20 employees
Underserved niche:
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04/07/2023 One Million by One Million 35
Bottom-Up TAM Analysis
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04/07/2023 One Million by One Million 36
22–25 m small businesses in the US;@ $500/yr, TAM = $11–12.5 b
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04/07/2023 One Million by One Million 37
5.9 m businesses that employ peopleMajority mom & pops, no employees;TAM = $2.95 b
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04/07/2023 One Million by One Million 38
5.2 m employers with < 20 employees; TAM = $2.6 b
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04/07/2023 One Million by One Million 39
Without precise segmentation, TAM appears larger
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Entrepreneur Journeys Series
For Inspiration, Role Models, Case Studies, Lessons
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Entrepreneur Journeys SeriesOn Flipkart
EJ1: Inspiration & Overview
EJ2: Bootstrapping
EJ3: Positioning
EJ4: Innovation
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Free, 1M/1M Strategy Roundtables
Every Thursday, Online
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Join 1M/1M Premium for Extensive Methodology Guidance, Curriculum, Business Development, and Strategy Consulting
For $1000 annual membership fee
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http://1m1m.sramanamitra.com
To help a million entrepreneurs reach a million dollars in annual revenue and beyond
One Million by One Million
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Vision India 2020
My notebook of ideas45 billion dollar ideas for you to steal, morph, modify, and buildDetailed strategy nuances, market analysisA futuristic retrospectiveBusiness fiction
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Sectors
1. Technology and Technology-enabled Services
2. Education3. Infrastructure4. Rural and Slum Development5. Healthcare6. Lifestyle Brands7. Entertainment
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I am looking for entrepreneurs to execute on these ideas
A vision for where you can take India
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Vision India 2020: Elective Module in 1M/1M