As a part of our aim to democratize entrepreneurship education at scale globally, we have packaged our proven 1Mby1M methodology for building technology startups into short courses on Udemy.
Here are the up to 85% off coupon codes for some of our courses on Udemy. These coupons expire on May 31, 2023, so enroll today!
Bootstrapping:
Bootstrap First, Raise Money Later with Sramana Mitra: TRY1MBY1MMAY2023BTS
I’m a big advocate for building small, capital-efficient startups. Not all entrepreneurs need to chase Unicorns. Not all investors need to chase Unicorns. There are many more viable ideas for those smaller ventures and there are considerably more opportunities for their exits, which means cashing in earlier on your hard work.
One type of exit is under $50 million, and to achieve that, your strategy should be to build a capital-efficient company that shows product-market fit in an efficient, bootstrapped manner.
That capital-efficient strategy is required for all stakeholders to make money when harvesting through smaller exits.
One of the single hottest trends in technology startups is Artificial Intelligence (AI). Machine Learning, Natural Language Processing, and various other nuances are being constantly applied to problems up and down the alleyways of all industries, from manufacturing, to retail, to education, to drug discovery.
All the methodology building blocks you have been learning through the 1Mby1M entrepreneurship fundamentals courses apply.
As a part of our aim to democratize entrepreneurship education at scale globally, we have packaged our proven 1Mby1M methodology for building technology startups into short courses on Udemy.
In addition to offering you up to 85% off all of our Udemy courses this month, we are introducing three new courses. Each contains informative and inspirational case studies of startups and entrepreneurs who have successfully navigated the Cyber Security, FinTech, and IoT domains:
How to Build a Cyber Security Startup with Sramana Mitra
How to Build a FinTech Startup with Sramana Mitra
How to Build an IoT Startup with Sramana Mitra
Here are the up to 85% off coupon codes for all of our courses on Udemy. These coupons expire on April 30, 2023, so enroll today!
Bootstrapping:
Bootstrap First, Raise Money Later with Sramana Mitra: TRY1MBY1MAPR2023BTS
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page.
We’ve seen a real trend of zero-logistics e-commerce businesses scaling phenomenally well. Read Wrist-Band Founder CEO Azim Makanojiya’s experience up to when we spoke in 2014.
Sramana Mitra: Let’s start with the beginning of your journey. Where are you from? Where were you born and raised? What kind of educational path did you follow?
Azim Makanojiya:I am from India. My parents shifted from a village to Mumbai city for better opportunities. That’s where I was born. My father came to the US around 1984. My mom was still back there in India. Within two years, we came to Houston and settled down here. I was about a year old then.
Most businesses can be launched in a capital efficient manner. Most businesses can go a long way in a bootstrapped mode. As long as you’re not taking on capital guzzlers like drug discovery or semiconductor chips, you have many options to explore.
At 1Mby1M, we don’t insist on fund raising. A bootstrapped, capital-efficient, million-dollar business is considered a success in our worldview, as long as you are profitable and sustainable.
What is bootstrapping? It’s what happens when you use your own resources, which you control, to build a business.
The first six courses below focus on different bootstrapping methods, so if you study all of them ahead of time, you’ll be able to cross the first barrier of getting your venture off the ground.
Let’s talk about the field of medicine. If you think about what a doctor needs to do to diagnose an illness, she needs to consider all the symptoms, take into account all the test results, consider all the treatment options, factor in all the side-effects of various medications and their interplay with other medications the patient is already taking.
This is, effectively, a multivariate optimization problem that a doctor has to do in her head. And, she needs to keep up with all the new research and advances in medical science, and factor those in as well. The field of medicine is full of incorrect diagnosis and mistreatment of illnesses. Now, if you replace this whole process with software, which IBM is trying to do with their Watson supercomputer, medical diagnosis becomes a truly scientific, deterministic process.
I can tell you, if I have the option of being diagnosed by software versus a human doctor, I would always prefer software. It would be far more accurate.
Healthcare is one of the fastest-growing startup sectors.
First, a bit of my own bias on the automation versus human debate.
If you think about what a doctor needs to do to diagnose an illness, she needs to consider all the symptoms, take into account all the test results, consider all the treatment options, factor in all the side-effects of various medications and their interplay with other medications the patient is already taking. This is, effectively, a multi-variate optimization problem that a doctor has to do in her head. And, she needs to keep up with all the new research and advances in medical science, and factor those in as well. The field of medicine is full of incorrect diagnosis and mistreatment of illnesses. Now, if you replace this whole process with software, medical diagnosis becomes a truly scientific, deterministic process. I can tell you, if I have the option of being diagnosed by software versus a human doctor, I would always prefer software. It will be far more accurate.
If the medical profession can be automated to that extent, billions of people can have access to quality medical care. Today, this number is relatively low.
Entrepreneurs have a tremendous opportunity ahead.
Online learning has exploded in popularity over the last decade. In Covid, the field has found a tremendous force multiplier.
Many founders are now turning to online education for startup ideas. Here’s why: it can be extremely profitable because online courses do not require physical classrooms, startup costs are more affordable, and startup time frames are shorter. The ability to scale fast makes this space very attractive for new ventures.
The education world has made a shift in the last decade from a sage-on-stage model to a guide-on-side model. In the former, teachers lectured to students in an auditorium format. In the latter, kids were assigned YouTube or Khan Academy videos as homework, and they did exercises in class with the teacher assisting as needed.
Are you new to e-commerce or already scaling your business? Do you want to accelerate? This is a collection of courses that can help you save time and resources by teaching you how to avoid common mistakes through case studies.
The courses are built on real-time examples of successful entrepreneurs, so if you study them carefully, you’ll be several steps ahead of the competition.
You can choose from a variety of different courses depending on your skill level, or experience in entrepreneurship. There are lessons for beginners as well as more advanced users who want to take their business to the next level faster.
Depending on what you’re creating, pick between these courses.