Beautiful Business
USA Best Practices
Innovation – Entrepreneurship – Selling to America
Paul Yankey
July 2016
Carpe Diem!!!
Paul D. Yankey Profile
Key Points:
• From Colorado, USA; lived in New York, Los
Angeles, and San Francisco.
• Led sales teams for some of the largest tech
companies: Dell, Inc., Cisco Systems, Inc.,
Nortel, inc.
• Key Principal in three start-ups with a
successful exit, a neutral exit, and a failure.
• Faculty at the University of Colorado:
Innovation and Entrepreneurship.
• Board Member of REI.
• Board Member Southern Colorado Chamber
of Commerce.
• Developing business in Viet Nam.
Who Are YOU?
Our Agenda:
“The measure of success for a talk is how involved the audience chooses to be.”
Please be thinking of and preparing to ask questions.
Morning Session:
Afternoon Session:
Innovation and Entrepreneurship
Selling in and to the U.S.
•
•
•
•
•
•
•
•
The mindset & Motivation
The key steps to success
Getting funding
Overcoming Fear
Mindset of U.S. Businesses
Sales Structures in the U.S.
Key elements in selling to the U.S.
How to start.
Nobility is Essential
• Strive for integrity in yourself.
• Align yourself with kind, noble, and honorable people.
• Authenticity is hard but worth the effort.
• Have the right priorities.
• Respect and treat your employees justly and fairly.
• Respect your investors and all that have made a contribution to your
pursuit.
• Help others – it will help you.
• Make the world better.
You Know What to Do…
“Prepare, prepare, and then prepare some more.”
“Activity is the essential piece to a mountain moving.”
• Are you sure you have
customers?
• How do you know?
• Have you sold anything yet?
• Are you showing a positive
trend?
• Are you different?
• What are your processes?
• What is your competitive
advantage?
• Have you shown success in
more than one area?
• Do you have the right and
winning team?
Business Model Canvas
Value Proposition
• Describes the bundle of products and services that create value for a
specific Customer Segment.
• What value do we deliver to the customer?
• What customer need are we satisfying?
• Value Proposition template
• We help “X” do “Y” by doing “Z”.
Customer Segments
• Defines the different groups of people or organizations an enterprise
aims to reach and serve.
• For whom are we creating Value?
• Who are our most important Customers?
Channels
• Describes how a company communicates with and
reaches its Customer Segments to deliver a Value
Proposition.
• How are we reaching them?
• Through which channels do our customers want to be
reached?
Customer Relationships
• Describes the types of relationships a company
establishes with specific Customer Segments.
• What type of relationship does each of our Customer
Segments expect us to establish and maintain with them?
• How are they integrated with the rest of our business
model?
Revenue Streams
• Represents the cash a company generates from each customer
segment.
• What value will our customer be willing to pay?
• What do they currently pay?
Key Partners
• Describes the network of suppliers and partners that make the
business model work.
• Who are our Key Partners?
• Who are our key suppliers?
Key Resources
• Describes the most important assets required to make a business
model work.
• What Key Resources do our Value Propositions, Channels, Customer, and
Revenue Streams require?
Key Activities
• Describes the most important things a company must do to make its
business model work.
• What Key Activities do our Value Propositions, Distribution Channels,
Customer Relationships, and Revenue Streams require?
Costs Structure
• Describes all costs incurred to operate a business model.
• What are the most important costs inherent in our business model?
• Which Key Resources and Activities are most expensive?
Milestones
Purpose
Construction
Purpose of a Milestone Chart
• Graphically depicts timeline
• Company “at a glance”
• Allows investors to see quickly how their money is going to be used
and for what purpose
• Combines goals, investment, needs, and benchmarks of
accountability
Construction
• Timeline
• Goals
• Investment required - Money
• Activities
• Return on Investment
• Forest and Trees – they both are needed
Milestone Chart Example
Milestones: Segmentation
• Segment out the timeline
• 3 – 6 months
• 6 – 12 months et.
• Per segment, outline goal to be accomplished by end of segment
• By the end of the 6th month, we will have a prototype
Milestones: Segmentation
• Segment Activities
• By the end of the 6th month we will have a prototype,
• To complete a prototype, we will conduct the following activities:
• Investment Required per segment
• By the end of the 6th month, we will have a prototype. To complete the
prototype we will conduct the following activities and require $30,000
Milestones: Segmentation
• Return on Investment
•
•
•
•
What do you want from the investor? Time, Money, Resources
What type of exchange will you give to the client?
What financial return will the investor receive?
How long will it take for the investor to receive this return?
Funding Makes the Wheels Turn (fast).
• FFF
• Banks
• Angel Investors
• Venture Capital
• Suppliers
• Partners
• Enemies of Enemies
Steps in Seeking Funding:
1.
2.
3.
4.
5.
6.
7.
8.
Get your house in order.
Get your reporting relevant.
Perfect your value proposition.
Practice, Practice, and then Practice Some
More.
Your network is your friend.
LISTEN to feedback – crave it.
Follow up.
Never give up.
Beautiful Business
Afternoon Session
Selling in and to the U.S.
Paul Yankey
July 2016
What do you think of U.S. Business?
Sales
• Over $1 Trillion dollars are spent annually on sales forces.
• Only 13% of customers believe a sales person can understand their needs
• 55% of people making their living in sales don’t have the right skills to be
successful.
U.S. Sales Organizations
•
•
•
•
Driven
Results Oriented
Expendable
Highly Paid
Sales Leadership:
Inspiration
Discipline
Sales Leadership Methods:
• The Sales Plan
What are your goals as a sales professional
How are you going to get there
What specific Actions and When
What do you need
The Sales Leadership Process
The weekly 1:1
1. Where are you at performance wise?
2. What is happening with your largest
opportunities?
3. Unpack your pipeline.
A.
B.
C.
D.
Raw amount of business 30,60, 90 beyond.
Opportunities lost and why
Opportunities added
Weighted pipeline
4. Activities in relation to Sales Plan.
5. Adjustments proposed.
6. What is needed.
Praise and Encouragement
1.Celebrate wins.
2.Learn in support from
losses.
3.Encourage competition.
Incentive / Goals
1. A sales person is motivated by goals.
2. Make sure they are written down and
visible.
3. They need to be achievable.
4. Be comfortable rewarding performance.
5. Encourage, Encourage, Encourage.
Pursuing Business in USA:
Get your house in order.
Time to get ready for the marathon.
• Be ready to make the investment.
• Partners are your friend – especially in the
beginning.
• It takes some time.
• Relationships are different in the U.S., but
still valuable.
Relationships
1.
2.
3.
4.
Find a Champion.
Embrace Referrals.
Pay for Value.
Do what you say.
The U.S. Offers Multiple Resources for
Relationship
1. The Chambers of Commerce can be a good
place to start
2. The Embassy's in Viet Nam and in the U.S.
want to help.
3. Search and Search, there is help available.
The Power of Four Words
I need your help.
Getting Started:
1. Do your homework. Become an expert in your field and chosen
area.
2. Know your U.S. Market.
3. Talk, Talk, and ask for more Talk.
4. Ask for Advisors.
5. Create a plan.
6. Validate the plan.
7. Fund the plan.
8. START the plan.
FEAR.
Overcoming Fear
Fear is something we all experience.
Use it to drive you. Use it to push you.
You will succeed. You will
succeed. You will succeed.
CARPE DIEM!!!