Posted on Thursday, Jan 16th 2025
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 …