TINC is over, and we’ve returned with fresh motivation, and a to-do-list longer than the tallest man on earth. I’ve decided to write about some important aspects I’ve picked up during our stay, which in fact resulted in a new list. Like “The 9 Simple Marketing Tips all Startups Should Know About” I wrote last time.
1. Pay it forward
“Pay it forward” is to do something for someone else without expecting anything in return. The thought is that if everyone pays it forward, you will eventually get back what you give. Not everyone in Silicon Valley lives by this mentality, but, a lot of people definitely do. People are very open, and many will even after the first meeting willingly share of their network to get you further. For a new startup having just arrived, “paying it forward” can be very difficult as you often think you don’t have a lot to offer. But don’t worry, you will get there eventually!
2. “Flipping” a company
This is the process of moving an already established company from Norway into an American Inc. This is supposedly a long and costly process, and something everyone who are seriously considering moving to the US soon after launch should have in mind. Most of the people we talked to who had been through the process, said that they should have established their company in the US the first place.
3. Programmers are very expensive in Silicon Valley
The extreme concentration of tech companies in Silicon Valley leads to an immense need for skilled programmers. When a lot of these companies also possess a large amount of cash, the average programmer’s paycheck quickly rise high above reason. A programmer can easily earn double that of a Norwegian programmer straight out of University. But then again, the housing prices are more than double.
4. Board of advisors
We kind of knew this before we left, but a lot of good things can happen to you if you get the right people in your board of advisors. And the good thing is that there are actually a lot of people interested in being on the board of advisors, even for smaller companies. And the best thing is that the most experienced of them don’t expect much in return. A 0.25% equity share could be more than enough. But be sure to find someone you can actually make use of!
5. If you had 2 minutes with Bill Gates, what would you say
Think about this. It has to be something that makes him actually want to hear more.
«We change the way people look at buying and selling second hand. We make it cool, appealing and something you would actually be proud of sharing on social media. With Tise [www.tiseit.com], second hand is back in style!”
6. Meetup
When you first arrive in Silicon Valley, you should definitely check for Meetups (meetup.com) in the area. Yes, there are a lot of people trying to pitch outsourcing to Asia there, but you will also meet people from around the world with both great minds and network. It is a good place to get started, and stuff is happening every night in the Bay Area.
7. Localize
Be sure to get an American phone number, and have that on your business card. In addition, update your location to USA on both Linkedin, Facebook and Twitter. If not, this could mean a default “no” from a lot of people without even looking at your concept.
8. Talk to everyone you meet
It is actually true when they say that everyone in Silicon Valley could be your next investor or board member. As an example, a lot of top level management in companies are known to drive Uber at night. Not because they need the money in any way, just because they enjoy meeting new people and getting out of the house.
9.Data-Driven
One of the first expressions I learned was “data driven”. It means that all the choices you make in the business should be driven by actual data points measured from your app. Best practice is e.g. to place all buttons in your UI based on your data, but for most a good start would be e.g. to target bottle necks in the initial user-conversion process and act upon that. The point is that most companies are not familiar enough with how their users actually use their products which again leads to non-optimal choices.
10. Live for feedback
Perhaps the most important thing we learned was that the single most important factor of a success is to be able to get and understand feedback. Ask for it in any way, just be sure you get it. This is one of the reasons we now say at Tise that we “Live for feedback”. And in that regard, I would be extremely thankful if you took the time to check out our app Tise (tiseit.com), which we have worked day and night to build J, and give us some feedback on it. What do you like, and what is missing! You can email me directly, and you find my info under point 7 😎.
11. Google plex
The google headquarter is something you should try to visit. I found it very interesting to get a small insight into this multi billion-dollar company, and see that it is (still) run by actual human beings. You can even get a good impression from just walking around the main area, and try a couple of their famous google-bikes.
Facebook HQ on the other hand..
Is basically just regular office buildings. Nothing to see unless you are invited inside..
Thank you so much for reading our blog form TINC here at INNOMAG! You can continue to follow us at blog.tiseit.com!
Eirik
