The 1Mby1M Methodology is based on case studies. In each course, Sramana Mitra shares the tribal knowledge of tech entrepreneurs by giving students the rare seat at the table with the entrepreneurs, investors and thought leaders who provide the most instructive perspectives on how to build a thriving business. Through these conversations, students gain access to case studies exploring the alleys of entrepreneurship. Sramana’s synthesis of key learnings and incisive analysis add great depth to each discussion.
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The 1Mby1M Methodology is based on case studies. In each course, Sramana Mitra shares the tribal knowledge of tech entrepreneurs by giving students the rare seat at the table with the entrepreneurs, investors and thought leaders who provide the most instructive perspectives on how to build a thriving business. Through these conversations, students gain access to case studies exploring the alleys of entrepreneurship. Sramana’s synthesis of key learnings and incisive analysis add great depth to each discussion.
The 1Mby1M Methodology is based on case studies. In each course, Sramana Mitra shares the tribal knowledge of tech entrepreneurs by giving students the rare seat at the table with the entrepreneurs, investors and thought leaders who provide the most instructive perspectives on how to build a thriving business. Through these conversations, students gain access to case studies exploring the alleys of entrepreneurship. Sramana’s synthesis of key learnings and incisive analysis add great depth to each discussion.
I started blogging back in 2005 and became well-known in the technology startup circuit very early on. Tons of entrepreneurs started writing to me asking for advice and mentoring. At the time, I used to consult for lucrative clients who paid me $5000 a day for advice. The startups who approached me could not afford to match that pricing model.
But my passion was with startups. With entrepreneurs braving storms and turbulent seas to build something from nothing.
Fast forward to the fall of 2008. My first Entrepreneur Journeys book was launched. We started experimenting with online mentoring roundtables.
Fast forward to 2010. One Million by One Million (1Mby1M), my global virtual accelerator was launched, the first of its kind in the world. From Silicon Valley, I was able to mentor entrepreneurs all over the world.
In this course, I will share case studies of such mentoring sessions.
I would like you to put both hats on: entrepreneur and investor.
Learn to think like an entrepreneur and refine your pitch.
Then switch.
Learn to think like an investor and poke holes at an entrepreneur pitch.
As you practice this way of thinking on the case studies I offer, you will develop muscle memory on the style of how to test startup ideas.
I hope, then, you can, on your own, start invalidating bad ideas.
I hope, then, you would have the intellectual honesty to discard ideas without legs.
I hope, then, you would hold out for the uncut gem that you can then polish to build your venture.
An entrepreneur I knew and admired who passed away used to say that entrepreneurship is like sculpture. You have to chisel your masterpiece out of a slab of marble.
Well, start chipping away on your stone.
What's inside
Learning objectives
- How to ideate.
- How to evaluate if your idea has legs.
- How you make sure that your tech startup idea is viable.
- How you make sure that your tech startup idea is scalable.
- How to ideate.
- How to evaluate if your idea has legs.
- How you make sure that your tech startup idea is viable.
- How you make sure that your tech startup idea is scalable.
Syllabus
How to test new startup ideas.
Introduction
How to Test a New Startup Idea
Pitch: Idea for upskilling tech professionals
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Syllabus
If you want to do a startup, you need an idea to build around.
So, how do you ideate? How do you evaluate if your idea has legs? How do you make sure that your tech startup idea is viable? Scalable?
Entrepreneurs often come up with 10 different ideas and have to sift through them to decide which one to pursue. How do you prioritize your best startup ideas? What are your most innovative startup ideas? Which of your business ideas may be fundable?
The entrepreneurship universe is littered with startup failures. Startup success often hinges upon the ability to come up with viable startup ideas.
Is there a strategy for the idea stage?
Yes, there is a strategy. You have to do two things.
Firstly, you have to develop an understanding of the domain in which you want to build a startup.
Secondly, you need to master the ideation process itself.
Let’s talk about domains. It is important to learn about the hot domains within which a lot of startup activity is happening right now. You need to understand the dynamics of each, find a gap in the market, and position your startup idea as a solution accordingly.
Here are a few Udemy courses on current hot domains.
How to Build E-commerce Startups with Sramana Mitra
Building a Two-Sided E-commerce Marketplace w/ Sramana Mitra
How To Build AI Startups with Sramana Mitra
How to Build Online Education Startups with Sramana
How to Build Digital Health Startups with Sramana Mitra
After you’ve chosen a domain, take this course to learn the ideation process.
Startup Ideas For The Post Covid World with Sramana Mitra
Case studies are really important to learn how to navigate early stage startups. Use these case studies to round out your knowledge:
How To Build Unicorn Tech Startups with Sramana Mitra
Entrepreneurship Case Studies from India 1 w/ Sramana Mitra
Entrepreneurship Case Studies from Europe 1 w/ Sramana Mitra
How to Build Tech Startups in Latin America w/ Sramana Mitra
Keys To Success For Women Entrepreneurs with Sramana Mitra
And finally, whenever I evaluate a tech startup idea, I always do VC-style due diligence on it. This course goes over the specifics of my analysis process and you can use it to analyze your startup idea before writing a single line of code.
Free Entrepreneurship Fundamentals Tutorial – VC Due Diligence Questions For Startups With Sramana Mitra
That’s it. This set of Udemy courses can help you to master startup ideation. You’ll have a much greater chance of coming up with truly innovative startup ideas.
If you spend a few evenings and weekends studying before you quit your job and jump in with both feet, you’ll come up with a viable startup idea to pursue.
If you need help, come talk to me at a 1Mby1M roundtable.
See you in the startup trenches!
P.S. We’re looking to partner with community leaders who write blogs, teach and mentor entrepreneurs, and help support startup ecosystems in every corner of the world, no matter how small or how remote. I have written about my own journey building startup ecosystems around the world, and how you can draw from my lessons from the trenches. If you’re interested in partnering with 1Mby1M, please consider joining our ambassador program.
For more information, please check out the external resources.
Here I discuss a 2-Sided Art Marketplace startup idea. As you may know, I have a special interest in Art, and have observed its dynamics for many years. I have concluded that the time has come for Artists and Collectors to move online and interact in a fluid marketplace. The idea that I discuss here is a Unicorn idea with the potential to become a highly valued company that would achieve a billion dollar plus valuation.
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Reviews summary
Testing startup ideas through case studies
Teaches thinking like founder and investor.
Benefit from expert analysis and framework.
Learning through real-world pitch analysis.
Activities
Review VC Due Diligence Questions
Show steps
Reviewing VC due diligence questions will help you evaluate startup ideas more critically, aligning with the course's focus on testing and validating new ventures.
Browse courses on
Due Diligence
Show steps
-
Find a list of common VC due diligence questions.
-
Answer the questions for a sample startup idea.
-
Identify potential weaknesses in the startup idea.
Review 'The Lean Startup'
Show steps
Reading 'The Lean Startup' will provide a strong foundation in lean methodologies, complementing the course's case study approach to testing startup ideas.
View
The Lean Startup: How Today's Entrepreneurs Use...
on Amazon
Show steps
-
Read 'The Lean Startup' by Eric Ries.
-
Identify key concepts like MVP and validated learning.
-
Relate these concepts to the course's case studies.
Analyze a Local Startup
Show steps
Analyzing a local startup will provide practical experience in applying the course's principles to a real-world business, enhancing your ability to evaluate startup viability.
Show steps
-
Identify a promising local startup.
-
Research their business model and target market.
-
Apply the course's testing methodologies to assess their potential.
-
Write a report summarizing your findings and recommendations.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Practice Pitching and Critique
Show steps
Practicing pitching and critique with peers will improve your communication skills and provide valuable feedback on your ability to evaluate startup ideas.
Show steps
-
Form a study group with other students.
-
Each student prepares a short startup pitch.
-
Provide constructive feedback on each other's pitches.
Create a Pitch Deck Critique
Show steps
Creating a pitch deck critique will sharpen your analytical skills and deepen your understanding of what makes a compelling startup presentation, reinforcing the course's focus on pitch evaluation.
Show steps
-
Find a publicly available startup pitch deck.
-
Critique the deck based on the course's principles.
-
Suggest improvements to the pitch deck's content and delivery.
Review 'Zero to One'
Show steps
Reading 'Zero to One' will provide a different perspective on startup strategy, encouraging you to think critically about innovation and market dominance, complementing the course's case studies.
View
Zero to One: Notes on Startups, or How to Build...
on Amazon
Show steps
-
Read 'Zero to One' by Peter Thiel.
-
Identify key concepts like creating monopolies.
-
Relate these concepts to the course's case studies.
Develop an Investment Thesis
Show steps
Developing an investment thesis will solidify your understanding of the factors that make a startup attractive to investors, enhancing your ability to evaluate startup potential.
Show steps
-
Define your investment criteria (e.g., industry, stage, geography).
-
Research successful startups that fit your criteria.
-
Write a document outlining your investment thesis and rationale.
Review VC Due Diligence Questions
Show steps
Reviewing VC due diligence questions will help you evaluate startup ideas more critically, aligning with the course's focus on testing and validating new ventures.
Browse courses on
Due Diligence
Show steps
- Find a list of common VC due diligence questions.
- Answer the questions for a sample startup idea.
- Identify potential weaknesses in the startup idea.
Review 'The Lean Startup'
Show steps
Reading 'The Lean Startup' will provide a strong foundation in lean methodologies, complementing the course's case study approach to testing startup ideas.
View
The Lean Startup: How Today's Entrepreneurs Use...
on Amazon
Show steps
- Read 'The Lean Startup' by Eric Ries.
- Identify key concepts like MVP and validated learning.
- Relate these concepts to the course's case studies.
Analyze a Local Startup
Show steps
Analyzing a local startup will provide practical experience in applying the course's principles to a real-world business, enhancing your ability to evaluate startup viability.
Show steps
- Identify a promising local startup.
- Research their business model and target market.
- Apply the course's testing methodologies to assess their potential.
- Write a report summarizing your findings and recommendations.
Practice Pitching and Critique
Show steps
Practicing pitching and critique with peers will improve your communication skills and provide valuable feedback on your ability to evaluate startup ideas.
Show steps
- Form a study group with other students.
- Each student prepares a short startup pitch.
- Provide constructive feedback on each other's pitches.
Create a Pitch Deck Critique
Show steps
Creating a pitch deck critique will sharpen your analytical skills and deepen your understanding of what makes a compelling startup presentation, reinforcing the course's focus on pitch evaluation.
Show steps
- Find a publicly available startup pitch deck.
- Critique the deck based on the course's principles.
- Suggest improvements to the pitch deck's content and delivery.
Review 'Zero to One'
Show steps
Reading 'Zero to One' will provide a different perspective on startup strategy, encouraging you to think critically about innovation and market dominance, complementing the course's case studies.
View
Zero to One: Notes on Startups, or How to Build...
on Amazon
Show steps
- Read 'Zero to One' by Peter Thiel.
- Identify key concepts like creating monopolies.
- Relate these concepts to the course's case studies.
Develop an Investment Thesis
Show steps
Developing an investment thesis will solidify your understanding of the factors that make a startup attractive to investors, enhancing your ability to evaluate startup potential.
Show steps
- Define your investment criteria (e.g., industry, stage, geography).
- Research successful startups that fit your criteria.
- Write a document outlining your investment thesis and rationale.
Career center
Startup Founder
Venture Capitalist
Business Angel
Startup Advisor
Product Manager
Technology Strategist
Innovation Consultant
Business Development Manager
Market Research Analyst
Investment Banker
Financial Analyst
Mergers and Acquisitions Analyst
Corporate Development Manager
Business Reporter
Economic Development Officer
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