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Coming to America

Coming to America. The TransSynergy Group – Dallas, Texas. Donna Hegdahl, CEO & president Finnish grandparents Grew up in high-tech Passion for helping entrepreneurs with marketing Antti Eravaara, VP of International Finnish Lived in America for 8 years High-tech experience US & Europe

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Coming to America

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  1. Coming to America

  2. The TransSynergy Group – Dallas, Texas • Donna Hegdahl, CEO & president • Finnish grandparents • Grew up in high-tech • Passion for helping entrepreneurs with marketing • Antti Eravaara, VP of International • Finnish • Lived in America for 8 years • High-tech experience US & Europe • Passionate about helping Finnish companies succeed in North America

  3. Who are you? • Global Software Program Participants • Education & preparation • Entrepreneurial guidance • Cultural differences • How do you compare to US entrepreneurs • Pursue the American dream • See it all around them • May or may not be prepared • Many resources available

  4. Now what? The Money Chase • Funding Sources • VC (700+ in US) • Angel • Investment Banker • Traditional Bank • Incubator (tech & business) --or-- • Self fund “the bootstrap method” • Plan for ROI to keep it going

  5. For funding sources: package your idea • You are one of many • Speak the language of the money guys • Do your homework • The most important sales presentation, expect multiple versions, differing advice • Long road (6 to 12 to 18 months) • Check references • Relationships “rule” ask for introductions • Sell solution to a pain

  6. Validate the market for your product • Key step for either approach • Demonstrate the viability of your product here, even if it’s selling elsewhere • Consider a beta test prior to market launch • Successful pilot - By the numbers: Market test - Testimonials - Case Studies • Need to fund your pilot

  7. First steps of preparation • Establish US entity • Protect your IP • US bank account • US accounting system • US address (not a PO Box) • US telephone & fax • Import, warehouse & ship product

  8. Marketing preparation • Corporate identity • Name – appropriate for US • Logo – same or different than Finland • Business cards/letterhead/envelopes • Create US sales materials • Brochure and other materials • Web site or “subsite” with US focus

  9. Next steps LAUNCH PLAN • Identify a TARGET • Prepare a timeline • Look for launch events • PR launch (media) • Trade show or conference • Industry event • Multi-touch campaigns • Quarterly campaign • Direct mail • Advertising • Develop reference accounts & testimonials

  10. Next steps Launch Plan (continued) • Line up “people resources” • Sales person or team for follow-up • Technical support plan • Speak English • Available in US time zones

  11. Find a TARGET and create a “win” • Identify a small target group to minimize costs & resources • Geographic • US is huge • Where is concentration • Addressable niche • Trade association • Cluster of affiliated companies • OEM • Distribution or reseller • Research top options • Look at competition

  12. Execute your plan • Plan for 6 to 12 months, maybe 18 to 24 • Why? • Buying cycle of decision-makers • No one wants to risk being first • Due diligence on you as a new player • Compare you with competition • Wait and see if you “stick” • Option: • Run a beta test first

  13. Consider Dallas? • Known for • Telecom “The Telecom Corridor” • Logistics • Biotech • High-tech

  14. Consider Dallas? • California is losing it’s edge • 40% of companies plan to move jobs out • 35% sending jobs to Texas (vs. RoUS & RoW) • Texas has become #1 competitor • Availability of educated labor pool • Low cost of doing business • Texas is welcoming to businesses • No regulatory hassles • Central location – lower travel costs & time • Lower total cost of doing business

  15. Consider Dallas? • Middle of the country • CDT time zone, easy to call both coasts • DFW Airport, accessible to any place in world • Strong economy • Cost of living • Labor • Housing • Attractive weather (?) • Little or no snow but hot in summer

  16. Consider Dallas? • “Can do” attitude • Supportive to entrepreneurs • Resources available to support startups • Professional services (attorneys, accountants, consultants, executive search firms) • Funding sources (VCs, angels, private investment groups, banking community) • Networking organizations (chambers, Metroplex Business Council, MIT Venture Forum, Southwest Venture forum, CEO Roundtables, IAMCP)

  17. Consider Dallas? • Nokia US headquarters • Finnish community • Finnish suppliers • Finnish American Business Guild • 2 years old • Plans to be Finnish American Chamber of Commerce • Mentoring relationships • Social activities • Crawfish party in March • Finnish Independence Day Gala in December

  18. Why TransSynergy? • Finnish and American resources • Known for high-tech focus • Known for helping entrepreneurs • Lower cost than typical “agency” • Long experience in helping high-tech • Provide marketing, PR and virtual office services • Hands-on even with strategy • Network of resources

  19. Position It The Marketing Formula Retain It Tell It Sell It Offer It

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