We, at 1M/1M, have invested significant resources to dispel the myth about seed funding. We engaged with and interviewed some very successful entrepreneurs who bootstrapped multi-million dollar businesses without outside funding. Here are just a few examples:
- Zoho [CEO Sridhar Vembu],
- RightNow [CEO Greg Gianforte],
- eClinicalWorks [CEO Girish Navani]
- ClubPlanet [CEO Andrew Fox]
- Finisar [CEO Jerry Rawls].
These entrepreneurs kept building their technology and technology-enabled services businesses and kept validating, until they closed their first key customers. Then, some did take outside money and scaled their business into multi-million dollar companies.But some of them NEVER took outside money and still own 100% of their multi-million dollar ventures.
1M/1M supports bootstrapping. As long as an entrepreneurs have a place to live, money for food and serious work ethics, we can teach them how to build a multi-million dollar company, block by block. We don’t recommend they waste time looking for seed funding too soon. When they’re ready, we can advise them to do so, but not too early, not too soon.
Please share this message with anyone who you think could benefit from affiliating with the 1M/1M Global Initiative. 1M/1M aims to nurture a million entrepreneurs reach a million dollars each in annual revenue and beyond by 2020, thereby creating a trillion dollars in global GDP and ten million jobs.
1M/1M partners with incubators by offering them a scalable way of growing their business, so that they could nurture a greater number of local entrepreneurs and create greater shared value globally.
Sincerely,
Irina Patterson
Ambassador
One Million by One Million
Image Credits: http://alltopstartups.com/2010/07/01/top-startup-funding-in-the-month-of-june-2010-3/
