190th 1M/1M Roundtable For Entrepreneurs: Devil Lies In The Details
Today’s roundtable had some interesting entrepreneurs from around the world.
First up, Nizamudheen Valliyattu, from Chennai, India, pitched EventsTiger, an ‘event community’ where organizers promote events, participants network, etc. My main issue with the idea is that it proposes to build yet another social network, which is very expensive, and at this stage of the game, not terribly useful.
Then Narayan Swamy from Atlanta, Georgia, pitched Wall Share Journal, a vertical ad network business that is currently doing about $200k a year. Of course, this is a field that has seen plenty of investment, acquisitions, and action. What is the case for a new (10-year old) company to be funded now?
Yana Vlatchkova from Denmark pitched Swipes App, an iOS productivity app that has about 40k users, and 500-1000 of those are willing to pay for a premium version. Yana and her cofounder are contemplating a B-to-B app, but my advice is to first scale the B-to-C app that is already reaching some level of validation.
Last up, Max Anderson from London, UK, pitched ExtendedRelative, a subscription based service where families and neighbors come together to exchange services like baby-sitting, small tasks, etc., on a trusted basis. It’s a good idea, but, as in all such ideas, the devil lies in the details of execution.
You can listen to the recording of today’s roundtable here.
Sramana Mitra is the founder of the One Million by One Million (1M/1M) initiative, a virtual incubation program that aims to help one million entrepreneurs globally to reach $1 million in revenue and beyond. She is a Silicon Valley entrepreneur and strategy consultant, she writes the blog Sramana Mitra On Strategy, and is author of the Entrepreneur Journeys book series and Vision India 2020.
From 2008 to 2010, Mitra was a columnist for Forbes. As an entrepreneur CEO, she ran three companies: DAIS, Intarka, and Uuma. Sramana has a master’s degree in electrical engineering and computer science from the Massachusetts Institute of Technology.