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Creating and Growing Innovative Companies: Secrets from Silicon Valley’s Sustained Success

Michelle E. Messina, CEO Explora International LLC mmessina@explorainternational.com Tel: +1 408.981.4801. Creating and Growing Innovative Companies: Secrets from Silicon Valley’s Sustained Success May 2012. Silicon Valley State of Mind. Silicon Valley’s Top 20 Companies.

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Creating and Growing Innovative Companies: Secrets from Silicon Valley’s Sustained Success

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  1. Michelle E. Messina, CEOExplora International LLCmmessina@explorainternational.comTel: +1 408.981.4801 Creating and Growing Innovative Companies: Secrets from Silicon Valley’s Sustained Success May 2012

  2. Silicon Valley State of Mind

  3. Silicon Valley’s Top 20 Companies

  4. Entrepreneur = Super Hero + Risk Taker

  5. Where Did the Idea Come From?

  6. Identify Market Need • First hand experience with the “pain point” in the market is best

  7. Communicate Clear Value • Understanding the market, means you understand: • Your customer • Your competition • Your opportunity

  8. Value Proposition: What is it? An implicitpromiseyour company makes to deliver upon a combination of values such as price, performance, quality, convenience, expected outcome and more.

  9. Value is Very Relevant • Creates a strong differentiation • Foundation of your sales strategy • Better quantity and quality of sales leads • Can help gain more market share • Delivers a clear message to the market • Can improve your operational efficiency

  10. In other words…. • How does your solution positivelyimpact the customer’s business?

  11. Positive Impact on theCustomer’s Business • Increased revenue ↑ • Reducing expenses ↓ • Acquire more customers ↑ • Increased shareholder value ↑ • Improved efficiency ↑ • Decreased employee turnover ↓

  12. Real Results -- What Buyers Care About • “Our customers experience 30-40% shorterproject lead times.” • “Our tracking system hasreducedtheir materials loss by $6000 per month or more than $70,000 annually.” • “Today, the company now experiences a 100%on-timeexport shipping record.” • We provide competitive pricing and guaranteed cost-savingsof 25% or more.” • “New product sales for the second quarterincreased93% to $1.57 million due to these improvements.”

  13. Listen & Interpret Market Indicators • Sales objections from prospects = opportunity to talk more • Customer advisory boards mean new opportunities for feedback • Change in competitors’ behavior (pricing, sales strategy, etc.) could signal opportunities

  14. Be Global. From Day 1.

  15. Team DNA is Critical • Smart people with relevant market experience. And passion. • Diversity: gender, cultural, language, work experience • Perspective: Cultivate mentors & build advisory board • Every employee is a sales person

  16. What Investors Look For • Complementary skills + proven chemistry + past working relationships = high potential co-founding team

  17. Diversity is Healthy. And Imperative.

  18. Diversify Your Team.With Women.

  19. Surround Yourself with Supporters

  20. Socialize The Ideas

  21. Socialize the Idea • Will your idea work? • Build support • Connects you to enthusiasts, users and customers • Socialize preto-type prototype ready for market test & validate do it again; and again.

  22. Ideas Are Cheap. Execution is Priceless.

  23. Go Big or Go Home

  24. 80% is Usually Sufficient

  25. Fail Fast. Fail Frequently.

  26. Become an Awesome Presenter

  27. The Elevator Pitch The point of an “elevator pitch” is to quickly create enough interest in your company to interest an investor, customer, or partner, in learning more. You are not trying to convince them to invest in, buy from, or work with you; you are trying to get them to listen. It’s a conversation starter.

  28. A Good Elevator Pitch It’s concise (a few sentences, <2 minutes) Grabs attention Explains the problem you solve Describes the benefits of your solution Is easy to understand Demonstrates your passion

  29. Elevator Pitch Structure 5 seconds: “The Grabber” 5 – 30 seconds: “The Brief” 30 – 50 seconds: “The Proof” 50 – 60 seconds: “The Wrap”

  30. Elevator Pitches in your 2nd language: What to watch for • Speech patterns, accents, and enunciation • Difficult sounds • Pronunciation and word stress • Idioms, verbiage, terminology, acronyms, expressions, sayings, pronunciation….

  31. Handling the Q&A • It isn’t over until it’s over • Set the agenda • Take control • Is it really a great question? • Buying time to think • Repeat the question – and reframe it • Answer the question you wish they had asked • Keep it brief, don’t fake it • End strong

  32. Elevator Pitches Only WorkWhen your Grandmother Understands It

  33. Build your Personal Network • It’s who you know • Use LinkedIn, Facebook, Skype, Twitter • Your personal brand matters • Make connections, learn about the market,

  34. Toughness is Not ObsoleteNor is Diplomacy

  35. Pain is Inevitable.Suffering is Optional.

  36. 30-60-90 Day Work Plans • Track the team’s progress • Build credibility with the market, with investors and with customers • The market changes and so can your Work Plan

  37. Gravity is in Full Effect

  38. Helping One Another is Core Value

  39. Do Something.Do Something That Matters.

  40. Michelle E. Messina, CEO mmessina@explorainternational.com Tel: +1 408.981.4801 Skype: michellemessina

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