Once a partner has selected the incubatees for the 1M/1M program, we recommend the following best practices to make the program successful:
1M/1M provides an orientation kit. All scholarship winners must go through the orientation kit in detail to learn how to use the program.
Within the first three months of joining the program, scholarship winners must go through the curriculum and have a satisfactory set of answers to the 1M/1M Self-assessment. During this process, they can ask questions at the private roundtables, in the discussion area of the curriculum, and via private emails.
3. Private Roundtables:
Attending private roundtables are a must. It not only offers the interactive mentoring element of our program, it is also the networking venue where the community gathers each week from all over the world. The sessions are instructive, inspirational, and emotionally supportive. They sustain the excitement and commitment to building something new. Note: These roundtables are group mentoring sessions. If scholarship winners are looking for 1-on-1 mentoring, that is available at an extra charge of $750 / hour. If partners are looking for private, custom sessions for their winning teams, that can also be arranged at an extra charge of $750 / hour.
We recommend that partners put the private roundtables on the calendars of the scholarship winners on a regular basis (if the program is internal), and/or on their events calendar (if the program is external).
4. Customer Validation:
Within 3-6 months of joining the program, a customer validation exercise needs to be completed. Scholarship winners must follow the methodology we teach in the curriculum. Ask questions. Some partners offer additional resources to help with the validation process. Motto: Before you develop software, you must validate.
5. Customer Pitch:
A validated customer pitch with value proposition, business model, and pricing model should be ready within the 6-month window.
6. TAM Analysis:
Big decisions rest on the TAM. All scholarship winners should have a TAM analysis done within the 6-month window.
Depending on what the TAM yields, we will be making decisions on the financing strategy.
For Intrapreneurship programs, the TAM analysis will help the corporation decide on the path forward.
In either case, if we conclude that financing will need to be raised (including from a corporate parent), a full financing deck is needed.
Before the scholarship window expires, scholarship winners must try to get this far. If they get farther, that would be great! Actual financing introductions and discussions can get started.
8. Customer Acquisition & Go-to-Market:
If they get farther, and actually have a product out, 1M/1M offers all sort of help on the GTM front, including introductions, PR, etc. At the minimum, a well thought through customer acquisition strategy MUST be in place before the conclusion of the program.
We request partners to work with us and put in place the mechanics with which the program can be implemented successfully for your community. Typically, partners acquire Manager Accounts using which they keep their programs humming.