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