Michelle E. Messina, CEO Explora International LLC Tel: Creating and Growing Innovative Companies: Secrets from Silicon Valley’s Sustained Success May 2012

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Silicon Valley State of Mind

Silicon Valley’s Top 20 Companies

Entrepreneur = Super Hero + Risk Taker

Where Did the Idea Come From? 6

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

Communicate Clear Value Understanding the market, means you understand: –Your customer –Your competition –Your opportunity

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

11 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

12 In other words…. How does your solution positively impact the customer’s business?

13 Positive Impact on the Customer’s Business Increased revenue ↑ Reducing expenses ↓ Acquire more customers ↑ Increased shareholder value ↑ Improved efficiency ↑ Decreased employee turnover ↓

14 Real Results -- What Buyers Care About “ Our customers experience 30-40% shorter project lead times.” “Our tracking system has reduced their materials loss by $6000 per month or more than $70,000 annually.” “Today, the company now experiences a 100% on-time export shipping record.” We provide competitive pricing and guaranteed cost- savings of 25% or more.” “New product sales for the second quarter increased 93% to $1.57 million due to these improvements.”

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

Be Global. From Day 1.

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

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

Diversity is Healthy. And Imperative.

Diversify Your Team. With Women.

Surround Yourself with Supporters

Socialize The Ideas

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.

Ideas Are Cheap. Execution is Priceless.

Go Big or Go Home

80% is Usually Sufficient

Fail Fast. Fail Frequently.

Become an Awesome Presenter 28

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.

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

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

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

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

Elevator Pitches Only Work When your Grandmother Understands It 35

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

Toughness is Not Obsolete Nor is Diplomacy

Pain is Inevitable. Suffering is Optional.

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

Gravity is in Full Effect

Helping One Another is Core Value

Do Something. Do Something That Matters.

Michelle E. Messina, CEO Tel: Skype: michellemessina