Lessons learned from Silicon Valley / Campalyst
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The document shares lessons learned from a trip to Silicon Valley about startups. It discusses the importance of speed, taking risks on big opportunities, sharing networks, learning from failures, treating startups like scientific experiments to find a scalable business model, the value of early employees who bring experience and connections, promoting startups through local events, the relationship-based nature of VC funding, and how to get a job in Silicon Valley. The key takeaways are around moving quickly, aiming big, learning from mistakes, and leveraging networks and connections.
Lessons learned from Silicon Valley / Campalyst
- 1. Lessons learned from Silicon ValleyVilnius, 2011
- 3. Does social media presence help you sell?3 months and 3 days old
- 4. 6 weeks mentorship program in FinlandA trip to Silicon Valley
- 5. Lesson #1: SpeedMeeting time: 15 minsE-mail response: 15 minsOpenness for trying onceTime is the most valuable asset
- 6. Lesson #2: Going bigVCs are after big bets“I lost my company 1bn USD when I did not invest in the next big thing”Market share is keyRevenue is a feature
- 7. Lesson #3: SharingYour network is an asset to be sharedOpenness is a defaultCompetition will not kill you, you willRisk of being incompetent is higher than being copied
- 8. Lesson #4: FailureFailure is OK or goodLearning from failuresMaking you fearless“So when are you starting a new company?”
- 9. Lesson #5: “Science” of startupsA structured thinking about entrepreneurship – Steve Blank & Donna NovitskyStart-up is not a small version of a large companyKey goal of a start-up is search for a scalable business modelYou sell the team, not the productAbility to learn is key
- 10. Lesson #6: Early employeesMost of founders have previously been early employeesKnow-how, funding and other benefitsThe secret of Silicon Valley, in my opinion
- 11. How to promote your start-up?Get a list of events:Plancast, Meet-up, Startup DigestGet intros or cold e-mail key people Decent response rate for usShort and to the point e-mailsThree 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 VCRelationship-based investingCEO in Silicon Valley helpsAccess to VCs:IntrosEventsCold (happens, but not recommended)
- 13. How to get a job in Silicon Valley?Everyone seems to be recruiting these daysLooking for world-class specialistsRemote basis possible in some casesCome and work for a day
- 14. Lesson #7: Closer than you thinkThank you!