Lessons learned from Silicon Valley / Campalyst
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Transcript

  • 1. Lessons learned from Silicon Valley
    Vilnius, 2011
  • 2. Background
    Lessons learned
    Practical tips
  • 3. Does social media presence help you sell?
    3 months and 3 days old
  • 4. 6 weeks mentorship program in Finland
    A trip to Silicon Valley
  • 5. Lesson #1: Speed
    Meeting time: 15 mins
    E-mail response: 15 mins
    Openness for trying once
    Time is the most valuable asset
  • 6. Lesson #2: Going big
    VCs are after big bets
    “I lost my company 1bn USD when I did not invest in the next big thing”
    Market share is key
    Revenue is a feature 
  • 7. Lesson #3: Sharing
    Your network is an asset to be shared
    Openness is a default
    Competition will not kill you, you will
    Risk of being incompetent is higher than being copied
  • 8. Lesson #4: Failure
    Failure is OK or good
    Learning from failures
    Making you fearless
    “So when are you starting a new company?”
  • 9. Lesson #5: “Science” of startups
    A structured thinking about entrepreneurship – Steve Blank & Donna Novitsky
    Start-up is not a small version of a large company
    Key goal of a start-up is search for a scalable business model
    You sell the team, not the product
    Ability to learn is key
  • 10. Lesson #6: Early employees
    Most of founders have previously been early employees
    Know-how, funding and other benefits
    The secret of Silicon Valley, in my opinion 
  • 11. How to promote your start-up?
    Get a list of events:
    Plancast, Meet-up, Startup Digest
    Get intros or cold e-mail key people
    Decent response rate for us
    Short and to the point e-mails
    Three things:
    How can I help you?
    How can you help me?
    Who else should I meet?
    Immediate follow-ups and intros
  • 12. How to get funded?
    45 minute drive from the VC
    Relationship-based investing
    CEO in Silicon Valley helps
    Access to VCs:
    Intros
    Events
    Cold (happens, but not recommended)
  • 13. How to get a job in Silicon Valley?
    Everyone seems to be recruiting these days
    Looking for world-class specialists
    Remote basis possible in some cases
    Come and work for a day
  • 14. Lesson #7: Closer than you think
    Thank you!