Innovation Night Preso

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Innovation from Silicon Valley

15 October 2012


Silicon Valley Ecosystem


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 spirit


There are Opportunities


Top Mistakes in US Market Entry

1. Underestimate requirements for success

2. Lack compelling unique value proposition

3. Do not fully leverage available partners

5. Timing – market opportunities are short-lived

4. Sales execution


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 acquisition


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 appropriately


Plan Appropriate Time for SuccessDefine Market Need/IssueDefine Market Need/Issue

Define and Understand Target Market Define and Understand Target Market Month1

Build/Validate Value PropositionBuild/Validate Value PropositionConduct Prospective Customer ResearchConduct Prospective Customer ResearchMonth

2-3

Month 4-6

Month 6-12

Month 12 and

ongoing

Build Marketing and Sales RecruitmentBuild Marketing and Sales Recruitment

Initial Sales ProcessInitial Sales Process

Revenue GenerationRevenue Generation


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 Alliance Venture we started with focused approach, build

effective partners and with persistence completed a lucrative M&A with PlumChoice in March 2011.”

“Through work with Next Step’s team and support from Alliance Venture we started with focused approach, build

effective partners and with persistence completed a lucrative M&A with PlumChoice in March 2011.”

Johan Attby, Founder, TiFiC AB


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Jennifer VesselsNext Step

[email protected]

www.nextstepgrowth.com

Innovation from Silicon Valley

Innovation Night Preso

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