Coming to the AmericaJulia French & Martin Wells
Overview
• Cultural differences
– Yes, even though we’re both English speaking countries
• Ecosystem
– Know the players
• Who are you?
– What do you want; why are you here?
CULTURAL DIFFERENCESComing to America
An Entrepreneur
Australian American
‘Mate’-based relationships Merit-based relationships
Passive – good things will just happen Fights for success amidst tough competition
Predominantly socialist Dog eat dog
Broadly skilled Focused skill
Conservative Reaching and ambitious
Not taken seriously Taken seriously
Timid on successes; can be overly modest Will happily let you know about every win
Avoids tall poppies Celebrates Donald Trump
Positives
• Put your business model on the first slide. You actually have proven business models, many people looking for funding don’t
• Emotional intelligence tends to be higher (use it)• General impression of Aussies is fun and likeable
(if not always taken seriously)• Marketing and web materials typically higher
quality• Pub culture - tend to be polite, adaptable and
group focused
Negatives
• Not understanding the “no obligation conversation”
• Slow and passive
• Company and personal presentation
• Dotting every i
• Treating investors as though they are bankers
The “no obligation conversation”
• It’s a learning culture
• Meet often
• Understand that conversations do not lead to business or a deal every time
• Come asking for what you want – they’ll probably know someone
• Permission to walk away
Speed - An Email Exchange
• e-mail – this is a fast paced culture• You do not have 2 days to get back to people, you
have 20 minutes• Speed is critical• In your messaging focus on
who, what, when, where and why? • Then what are you offering and what do you
want? • Know the coffee shops so you have a place to
meet
Company and Personal Presentation
• Business isn’t as formal (we’re British)
• Americans talk about themselves - get across your wins
• Talking about yourself is a good thing
• Directness and sharing leads to getting the help you need; and there’s a lot of help available
You don’t need to dot every i
• Giving the impression you have to have every problem solved can seem suspicious
– Sometimes Aussie companies are so well organized it seems suspicious.
– Provide the ‘we are Australian’ context so that people can understand where you are coming from.
• If they can’t map you; you fail.
Valley investors aren’t Aussie bankers
• Investors understand the startup process – it’s way more than a financial transaction
• You are going to work very, very closely together, so you had better like each other. Personal relationships matter
• Networks matter
• History matters
THE ECOSYSTEMComing to America
How the Valley Works
Investors
Entrepreneur
Service Provider
Networking/Events
Epic Entrepreneur
In the US, an Entrepreneur is a respected part of something big
WHY ARE YOU HERE?Coming to America
Be clear…
• Be clear about what you want and why you are here
• Moving is distracting and expensive
• And sometimes it’s not the right thing