During today’s roundtable, we worked with two entrepreneurs, both with interesting business ideas.
Khummo
First, Josep Ballestes from Barcelona, Spain, pitched Khummo, a SaaS solution for hotels to collect feedback from customers through a mobile app. Josep already has a customer – a hotel chain with 1000 rooms – that is going to test the solution in November. He also has a business model hypothesis - $5 per room per hotel per month. Josep is getting certain feature requests that are adding to his value proposition, including using his app as the hotel’s portal during the customers’ stay at the hotel. With certain minor adjustments, this can potentially be incorporated into the product. Hotels are, of course, very interested in having satisfied customers write TripAdvisor reviews.
SolutioNXT
Next, Gokul Anantha from Sunnyvale, California, pitched SolutioNXT, a cloud management solution for process control and process performance to be used by the CIO’s office. Gokul has some basic business model and pricing model assumptions, and has validated the customer pain point. However, there is quite a bit of work to be done yet on market sizing and go-to-market strategy. Primarily, Gokul cannot wait for someone to fund his alpha development. He has to get going, if this is the business he wants to build.
You can listen to the recording of today’s roundtable here.
As always, I would very much like to hear about your business, so let me invite you to come and pitch at one of our free 1M/1M public roundtables. We will be holding future roundtables, most at 8:00 a.m. PDT, on:
-Thursday, October 18, 145th 1M/1M Roundtable, Register Here.
-Thursday, November 1, Kolkata 1M/1M Pitch-Fest, Register Here.
-Thursday, November 8, 147th 1M/1M Roundtable, Register Here.
-Thursday, November 15, 148th 1M/1M Roundtable, Register Here.
-Thursday, November 29, 149th 1M/1M Roundtable, Register Here.
If you want a deeper relationship with me, you are very welcome to join the 1M/1M premium program. If you have any questions about the program, please, first study the website, especially What to expect from the 1M/1M premium program and the FAQs. If you have additional questions, please email me, and I would be very happy to respond. Please note that I work exclusively with 1M/1M entrepreneurs.
I also invite you to join the 1M/1M mailing list for the ease and convenience of getting updates. This way we can stay in touch, and it will help you to decide if 1M/1M is a program for you.
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.