Tips for business survival in the Bay Area
5 minutes back in California and I realized that everything here is either “amazing” or “awesome”. That morning cup of coffee, “amazing”! The pilot who flew us from Paris to San Francisco, “awesome”!
I was under the impression that I had been transported through time and space into the Lego Movie.
Talk about a brutal culture shock after living in France for five years where “C’est pas mal” (It’s not bad) is one of the highest compliments someone can give you!
Having now lived and worked in the Silicon Valley now for several years, I realize that it is home to a disproportionate number of “amazing” and “awesome” companies and entrepreneurs. After all, it did not gain its reputation as the epicenter of innovation for nothing. But why do we insist that everything is “amazing” and “awesome”, when by Silicon Valley standards many companies are just mediocre?
This is because a core part of American culture revolves around storytelling and affirmation. As the US market grew and became more specialized, companies turned to marketing to help consumers cut through the static. Now that more than one company could offer them a solution, they needed to understand why they should go with yours rather than someone else’s.
Thus, these daily affirmations and positive vibes promoting the great things their company does has become the norm. However, many of the foreign entrepreneurs I meet with confess that this over exuberance is terribly confusing, and in many cases, it is perceived as being fake.
So, as someone who is new to the US market, how do you cut through the sea of storytelling and positivity to know what is truly “amazing” and “awesome”? And as an entrepreneur starting out in the Valley, how do you convince others that your company is “amazing” and “awesome”?
For that, we turn to a company’s track record. A company’s track record consists of key numbers and statistics by which customers and potential business partners can measure the success of your company. Data concerning customer / user statistics, revenue generation, and relevant metrics are all necessary records that provide your public with valuable insights and measurable proof of the credibility of your company.
– Customers / Users: Do you already have users and customers who have paid for your product or services? If they are using your product for free, how will you monetize it?
– Revenue Generation: Having revenue shows that these customers or users have believed in your business enough to give you their hard-earned cash.
– Metrics: How do you judge success for your product? What does the competition look like? It may seem obvious, but you should know your market looks like and how many customers you can potentially have. What are the results that your clients can hope for, and how does that play out in terms of revenue gains for them?
Starting out in the US market can be a challenge, but for companies looking to expand globally it is a key market to enter. If you are new to doing business in the Bay Area be sure to keep an open mind. Create an “amazing” story around your business to draw in clients and business partners but be sure to back that up with “awesome” metrics to seal the deal.
Brittany Bir 