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Innovation Night Preso
 

Innovation Night Preso

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Materials from Silicon Vikings discussion during Oslo Innovation Week 2012

Materials from Silicon Vikings discussion during Oslo Innovation Week 2012

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  • www.nextstepgrowth.com
  • www.nextstepgrowth.com
  • www.nextstepgrowth.com Notes ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Innovation Night Preso Innovation Night Preso Presentation Transcript

  • Innovation from Silicon Valley 15 October 2012 xCopyright © Next Step. All Rights Reserved. 1 www.nextstepgrowth.com
  • Silicon Valley EcosystemCopyright © Next Step. All Rights Reserved. 2 www.nextstepgrowth.com
  • What Makes Silicon Valley Work• Entrepreneurs are risk-taking super heroes• Diversity in ideas, culture and background is the norm• Socialize ideas, network and share• Ideas are everywhere – execution leads to success• Mentors and coaches are essential• 80% is often enough to move forward• Fail fast, learn and move forward• Culture of driven, bright people willing to ‘pay it forward’ to support the entrepreneurial spiritCopyright © Next Step. All Rights Reserved. 3 www.nextstepgrowth.com
  • There are OpportunitiesCopyright © Next Step. All Rights Reserved. 4 www.nextstepgrowth.com
  • Top Mistakes in US Market Entry1. Underestimate requirements for success2. Lack compelling unique value proposition3. Do not fully leverage available partners4. Sales execution5. Timing – market opportunities are short-livedCopyright © Next Step. All Rights Reserved. 5 www.nextstepgrowth.com
  • Norsk Entrepreneurs Obstacles• Desire for perfection before market launch• Lack of ‘sales mentality’• Naivety in building effective partnerships• Underestimate time to market requirements• Focus on funding instead of customer acquisitionCopyright © Next Step. All Rights Reserved. 6 www.nextstepgrowth.com
  • Best Practices for Success• Spend time in Silicon Valley - build network with local service providers, angels and companies• Refine ideal target market and your value to that market• Approach market with open mind – listen, listen, listen• Understand how customers want to buy and build sales strategy around desires• Plan and budget appropriatelyCopyright © Next Step. All Rights Reserved. 7 www.nextstepgrowth.com
  • Plan Appropriate Time for SuccessDefine Market Need/Issue Month Define and Understand Target Market 1 Build/Validate Value Proposition Month Conduct Prospective Customer Research 2-3 Month Build Marketing and Sales Recruitment 4-6 Month Initial Sales Process 6-12 Month 12 and Revenue Generation ongoingCopyright © Next Step. All Rights Reserved. 8 www.nextstepgrowth.com
  • Next Step Delivers Revenue Take your company to the Next Step through: o Definition of US Marketing / Sales Strategy and Business Plan. o Business development and contacts in Silicon Valley. o Creation of marketing materials and lead generation for US market. o Hiring and development of US Sales Team. “Through work with Next Step’s team and support from “Through work with Next Step’s team and support from Alliance Venture we started with focused approach, build Alliance Venture we started with focused approach, build effective partners and with persistence completed aa effective partners and with persistence completed lucrative M&A with PlumChoice in March 2011.” lucrative M&A with PlumChoice in March 2011.” Johan Attby, Founder, TiFiC ABCopyright © Next Step. All Rights Reserved. 9 www.nextstepgrowth.com
  • Innovation from Silicon Valley Jennifer Vessels Next Step 650.361.1902 jvessels@nextstepgrowth.com www.nextstepgrowth.com xCopyright © Next Step. All Rights Reserved. 10 www.nextstepgrowth.com