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					FIVE TRAITS TO COPY
FROM SILICON VALLEY AND
FIVE TRAITS TO AVOID



Sarah Lacy
Author/TechCrunch Senior Editor
WHAT SILICON VALLEY
   DOES WELL
1. There Are No Overnight Successes
2: Be Open

• An Idea Is Just an Idea; Execution Matters

• NDAs Don’t Make Great Entrepreneurs

• If You Love Employees, Set Them Free

• Ask Advice; Give Advice
3: Have the Right Intentions

• Start a Company Because You Can’t Do
  Anything Else

• It’s about Making a Difference, Not Just
  Making Cash

• Know If You Raise Money; You Are Committing
  to Build Something Big Fast
4: You Can’t Do It Alone
5: Give Back


                      Angel



               Successful
                Startup


                      More
                      Angels
WHAT SILICON VALLEY
 DOES NOT DO WELL
1: Include Women From Day One
2: Put Wins on the Board




   $ 1m       $20m         $100m
3: Government Has an Important Role

• Learn From Singapore: Remove Impediments
  to Quick Company Formation

• Learn From Israel: Don’t Invest Directly in
  Startups; Invest with Foreign Professionals.
Why Learn from Israel?

• More Nasdaq-traded Companies in the Late
  1990s than Anywhere Outside Silicon Valley

• 60 Local VC funds, $10 Billion in Available
  Local Capital

• 30x Venture Investment of Europe per Capita;
  80x China and 350x India
4: CHARGE MONEY!

• Venture Capital Is Uncertain in Emerging
  Markets. Even if You Raise a First Round;
  You May Never Raise a Second.

• The Money Is Out There– Get Creative!

• Think China; Not Silicon Valley
5: Multinationals Are a Blessing…
   …and A Curse
• Multinationals Bring Money, Jobs and
  Training. But…

• There’s Little Evidence They Yield
  Entrepreneurs. Most Multinational Jobs Are
  Rote, Not Creative.

• The Better the Job; The Less Incentive to Start
  Something New
Above All: Play to Your Strengths
QUESTIONS?
      Sarah Lacy
sarah@techcrunch.com

				
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posted:8/4/2012
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