Lessons learned from Silicon Valley / Campalyst

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Lessons learned from Silicon Valley / Campalyst

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

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