Tag Archives: Research

How Do You Attract the Talent to Build an International Presence? Seven Guidelines

Interview with E.J. Dieterle, President & CEO, YES Partners, Inc.

Situation: As corporate wallets start loosening up, companies are looking at market expansion opportunities. International expansion is one alternative. In the past this was done largely by sending Expats. In more recent years there has been a trend toward hiring locally. How do you find the right talent locally?

Advice:

  • Everything starts with the basics – a good job description.
  • Finding people is easier these days with social networks like MySpace, Facebook, LinkedIn, Xing, hi5, Spoke and Plaxo. However, finding the right people remains a challenge.
  • Invest time and effort to research your target market.
    • Which country is a market or has the most likely prospective clients?
    • What is your competitive advantage there?
  • For a hiring company without an existing presence in the local market it is also a challenge to convince good local candidates that yours is the right company to join. It is important to understand the local business culture and values, and also to offer career-paths to qualified candidates.
  • Don’t assume the need for multiple offices as you start. You can start with a highly mobile person working from home who knows the local language(s), customs, and who already has contacts in your target market.
  • It is often assumed that it takes one year or more for an Expat to be efficient locally, and that hiring locally often accelerates first years’ startup-time. However, the local person has to understand and “fit” into the corporate/head office culture.
  • Working with an international executive search firm to find qualified local talent with the right fit to your business and needs can greatly improve your odds of success.

You can contact E.J. Dieterle at ejdieterle@yespartners.com

Key Words: International, Market, Expansion, Ex-Pat, Job Description, LinkedIn, Research, Competition, Brand  [like]

What are the Best Current Avenues for Raising Capital?

Interview with Sandy Lawrence, Past CEO, Therative, Inc.

Situation: The technology sector is growing following a couple of lean years. Whether you want to fund a new company, or a new effort within a smaller company, what are the best avenues to capital? How has the game changed?

Advice:

  • Funding and credit markets are opening but still tight. The bar has been raised because too many people are chasing too few available dollars.
  • The venture capital sector has consolidated. Over 80% of current focus is on technology, software and medical. Under 20% goes to the consumer sector.
    • It is important to target VCs who specialize in your technology, market and business model.
    • Research current VC portfolios.
  • Angels now act more like VCs – particularly structured angel groups.
    • Initial investments are typically under $1 million.
  • If you have a technology, investigate the grant world – e.g., NIH or DARPA. These organizations fund research, but not marketing, etc.
    • Look for specific programs or RFPs that align with your technology.
    • Target your grant request toward prototype development and studies.
    • Search LinkedIn for military people who can introduce you to contacts within programs like DARPA.
  • Investigate SBA Grants, and foundations with an interest in your technology or application.
    • Foundations sometimes will grant funds ($100k) to support the work of individual scientists and researchers.
  • Call on friends and family who believe in you and your work.
  • Whoever you approach, these rules apply:
    • Do your homework. Choose sources that align with your project and profile.
    • Presentations must be crisp and easily understood. Investing in professional assistance is wise.
    • Be able to make your case in 15 minutes or less. The first minutes are most crucial, so have your ‘elevator’ pitch perfected.
    • Your model and financials must support a high multiple exit, 5-10x their investment in a reasonable period of time (~5 years).
    • Team, Team, Team – credentials, experience, presentation – be a team with whom the investor can work.

You can contact Sandy Lawrence at slawrence@therative.com

Key Words: Fund Raising, Credit, Capital, Venture Capital, Angel, SBA, Foundations, Military, Presentation   [like]

Positive Marketing Messages vs. FUD (Fear, Uncertainty and Doubt) – Five Suggestions

Situation: IBM and others established the value of preaching FUD (Fear, Uncertainty and Doubt) within their marketing campaigns – “choose IBM, the brand that you can depend on, because who knows what others will actually deliver.” Is it still worthwhile to use FUD, or are we better off emphasizing the positive benefits of our services and keeping our image positive?

Advice from the CEOs:

  • When considering whether it is better to sell the time that your system or product is “up” or the time that it is “not down,” you need to understand your customer’s perspective.
    • If they are cautious and skeptical, then FUD may work. If they are positive and upbeat, then they will more likely respond to a positive, upbeat message.
    • Match your marketing message to the attitude of the key decision makers within your customer companies. Learn their hot buttons during ambassadorial visits.
  • Companies sometimes use FUD when they sell “the future.”
    • Being “in”: if you haven’t got our product/service you won’t be with it!
    • Insurance companies sell protection from the unknown.
  • Mix the message. Sell the positives, with an appreciation of the cost of the negatives to reinforce the positives.
  • Be the “Mr. Goodwrench” of your marketplace. Educate and reinforce.
  • Consider positive health care analogies in your marketing:
    • Rapid Response – mimic messages from urgent care.
    • The value of maintenance programs – mimic messages from wellness programs.
    • Develop metrics to substantiate what your customers are hearing from your message.

Key Words: Marketing, Messaging, Brand, Image, Research, Validation  [like]