2025 Resolution: Bootstrap a Startup with a Paycheck, Find a Good Mentor

These days, everyone seems to be a startup mentor.

Whether they have ever done a startup or not, whether they have ever raised money or not, they are ready to advise entrepreneurs.

I want to share some things we have learned in running the 1Mby1M program since 2010.

First, it is difficult to give negative feedback to entrepreneurs without triggering a defensive reaction. But it is necessary.

Second, our hypothesis about case-study based learning and mentoring is working very well. Today, we’re seeing entrepreneurs making good, solid decisions based on what they’re learning from the curriculum and the roundtables without even speaking with anyone. That is really cool!

Third, it is complex to give people a message that goes against the grain of media hype. The media is obsessed with funding.

Fourth, a lot of entrepreneurs are looking for silver bullets. They are not necessarily interested in doing the hard work needed to build a sustainable business. Building a business is a marathon, not a sprint.

Fifth, some entrepreneurs are over-anxious about confidentiality. Well, if you really have a great idea, it will, most likely, get ignored. Not stolen.

Sixth, entrepreneurs are obsessed with financing. It is an unwelcome message to deliver to an entrepreneur dreaming of millions of VC money that their project is not fundable.

Seventh, positioning is a poorly understood discipline. Most entrepreneurs do a poor job. It is one of the key areas where we add value. This is also one of my greatest strengths.

Eighth, venture capital operates not as risk capital but as growth capital. The entrepreneur has to find ways of bootstrapping the highest-risk portion of the process.

Ninth, personally, I find it disheartening to see entrepreneurs give up. But they do. Even good ones do.

Finally, I believe, intellectual honesty matters. I also observe that the ecosystem is inherently dishonest, and mentors, advisors, incubators, media all promise entrepreneurs things that cannot be delivered.

If you think you need help, consider a free online mentoring session with me.

You can also jump into a full-year Acceleration by joining the 1Mby1M Premium program with me.

Or, start with our Curriculum-only 1Mby1M Basic option.

This segment is a part in the series : 2025 Resolution