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Dealing with industry analysts, for startups
 

Dealing with industry analysts, for startups

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If you're a tech startup, you might be curious about these "industry analysts." In this talk (given at HeavyBit), I go over what analysts do, reasons to talk with them, how to give a briefing, and ...

If you're a tech startup, you might be curious about these "industry analysts." In this talk (given at HeavyBit), I go over what analysts do, reasons to talk with them, how to give a briefing, and some other tactical advice. While this was geared towards startups, most of the content is for vendors in general.

See the recording here: http://www.heavybit.com/library/video/2014-01-21-michael-cote

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    Dealing with industry analysts, for startups Dealing with industry analysts, for startups Presentation Transcript

    • Dealing  with  analysts,  for  startups   @cote  |  21  Jan  2014
    • I’ve  been  on  both  sides  1995-­‐2006:     Developer  (startups,  BMC)    2006-­‐2011:     Analyst@RedMonk   • h@p://redmonk.com/cote/    2011-­‐2013:     Corporate  Strategy,  M&A  (Dell)    2013-­‐now:     Research  Director@451   • • !2 h@ps://451research.com/biography?eid=735   cote@451research.com @cote  &  h=p://cote.io  
    • Quick  Goals:  Influence,  Advice 1. Understand  analyst  mo<va<ons  &  types   2. Make  us  think  The  Company  is  rad   3. Get  help  making  The  Company  rad   4. Make  us  talk  about  that  radness   5. Access  to  our  influence  channel   6. Access  network  of  contacts  &  partners   7. Manage  rela<onship   8. Tell  us  about  rad  things !3 * You’re this guy.
    • Reasons  to  talk  with  analysts   (for  vendors) !4
    • Influence { • • • Press   Investors   • !5 Sellers   • Connect & Broadcast Buyers   Nerd  Entertainment
    • Research { • • Market-­‐sizing  &  share   • !6 Compe<<ve  analysis   • Market Education News  &  trends   How  To’s
    • Consul<ng { • • M&A,  biz-­‐dev,  partners   • Messaging,  kool-­‐aid   tes<ng   • !7 Product  &  strategy   • Direct your decisions Deeper  research   3rd  party  mouth-­‐piece  for   internal  poli<cs
    • Analyst  work  products !8
    • Reports !9
    • Rankings !10
    • Market  analysis  (sizing  &  share) !11 Sources: "Market Share: All Software Markets, Worldwide, 2012," Gartner; “Market Monitor Sector Review: Virtualization,” 451 Research, Dec 2013; “Worldwide and Regional Public IT Cloud Services 2013–2017 Forecast,” IDC, Aug 2013
    • Other  work  products • • Speaking  -­‐  conferences,  customer   events,  “kick-­‐offs,”  etc.   • !12 Webinars  -­‐  book-­‐ending  a  pitch  for   lead-­‐gen   New  media  -­‐  screencasts,  podcasts,   videos
    • Engaging  with  analysts !13
    • Establish  goals  with  analysts • • Feeding/brainwash  -­‐  material  for  one  of   their  reports,  hustle  them  to  write  one   • Influence  &  Word-­‐of-­‐mouth  -­‐  investors,   reporters,  buyers,  compe<tors   • Marke<ng  -­‐  genera<ng  social  objects   • !14 Inform  yourself  -­‐  trends,  compe<<ve,   market  data,  etc.   Get  advice  -­‐  help  you  make  decisions
    • Sor<ng  analysts • • Cynics  vs.  Op<mists   • Journalists  vs.  Prac<<oners   • BigCo  vs.  “Bou<que”   • Vendors  vs.  end-­‐user  centric   • Poten<al  impact   • !15 Coverage  area(s)   Cost
    • Figure  out  how  analyst  get  paid • • Paywalls   • Consul<ng   • Conferences   • Sponsoring  &  underwri<ng   • !16 Be  aware  of  when  engagements  are  free   vs.  paid   “Content”  -­‐  re-­‐prints,  commissioned   papers
    • Briefings !17
    • Briefing  analysts 1. Company  overview   2. Problem  solved   3. How  it’s  solved   4. Market  you’re  targe<ng   451 Analyst Guide Template # Product/Technology Q: What problem is being solved? Q: Where is it and this category going in 2-3 years? Q: How long does it take to get up and running? Q: What's the licensing model? Subscription, perpetual, etc? ! 5. Business  mechanics   6. Road-­‐map   7. Strategy   # Company/Overview Q: Who's the customer, size of company that buys? Q: How many paying customers? Q: How many trials/pilots? Q: Customer to speak to as a reference? Q: Number of employees? Q: Are you hiring? What type, how many? Q: Geographic locations? ! 8. Vision !18 # Sales Q: Revenue? Q: Average deal size? Q: Expectations for next year/quarter? Q: Revenue mix across products? Q: Revenue mix across geographies? Q: Revenue mix across market segments? ! # Partner/Channel Q: Partner approach? Q: Indirect/direct mix? Q: Looking for partners? ! # Competition Q: Who do they see in deals? Q: Are there different people in low, mid, and high-dollar deals? Q: Has the competition changed? ! # Finance Q: Total amount of funding and funding stage/history? Q: Who are the investors?
    • Briefing  tac<cs • • NDA  tagging   • Bullets,  not  clipart   • PDFs  over  WebEx   • Demos   • Don’t  fights,  just  discuss   • We  don’t  like  feeling  dumb,  or  “exposed”   • Ask  for  and/or  offer  something   • !19 30-­‐60  minute  presenta<on   Allude  to  future  work,  carefully
    • Startup  briefings:  seem  bigger • • Funding  history  &  connec<ons   • Keep  the  visuals  fancy  so  you  seem  new   • Source  of  sustaining  money,  revenue   • !20 Assis<ng  pajern  matching:  disruptor,   SMB  pulldown,  Enterprise,  etc.     Why  will  it  make  money?  (Or  get   bought?)
    • Above  all  else,  avoid  “computers  are  awesome” !21
    • Ongoing  engagement • • Consul<ng  -­‐  small  &  large   • Emailing  interes<ng  info,  press  releases   • (Pre-­‐)briefing  for  all  upcoming  events   • !22 Consistent  set  of  contacts  at  your   company   Food  and  beverages
    • Thanks! cote@451Research.com  |  +1-­‐512-­‐795-­‐4307 @cote  |  h9p://cote.io !23
    • Consul<ng • • Tac<cal  Strategy  -­‐  How  do  we  make  money  with  this  technology?   Build  adop<on?  Are  our  methods  good?  (E.g.,  going  open   source).   • Big  Strategy  -­‐  Pornolio  management,  corporate,  future  plans.   • Planning  -­‐  new  ventures,  waking  up  dead  ones.   • Valida<on  -­‐  Is  the  “offering”  itself  good?  Are  we  drinking  our  own   Kool-­‐aid?  How  is  it?   • Biz-­‐Dev  -­‐  Who  else  should  we  be  working  with?   • Messaging  -­‐  How  do  we  say  this?  Bullet-­‐proofing.   • !24 Survey  -­‐  What’s  going  on  out  there?   Some<mes,  a  company  won’t  listen  to  its  own  good  ideas,  but   will  listen  to  those  same  ideas  from  an  analyst Getting a 3rd party perspective, input, & crafting
    • Addi<onal  credits,  cita<ons,  etc. • • !25 Jonny  Brentwood’s  AR  Hitler:  hjp://www.youtube.com/watch? v=gjG8KivYFZ0   Cocktail  notes:  hjp://www.flickr.com/photos/spine/146779420/