do's and don'ts 2014
DESCRIPTION
Do's and Don'ts for doing Business in Silicon Valley from a Dutch Perspective, as presented by Peter Laanen, International Trade Director at the Consulate General of the Netherlands in San FranciscoTRANSCRIPT
Do’s and Don’ts
“Coming to America” Peter Laanen
“The business of America is business” – Calvin Coolidge
Calvin Coolidge
30th President of the United States
In officeAugust 2, 1923 – March 4, 1929
The small stuff• Tipping• A glass of Coca-Cola?• Ice breaker• Red Light• Fun with cops• Spanish anybody?
The small stuff
• A glass of Coca-Cola?• Ice breaker• Red Light• Fun with cops• Spanish anybody?
The small stuff
• Ice breaker• Red Light• Fun with cops• Spanish anybody?
The small stuff
• Red Light• Fun with cops• Spanish anybody?
The small stuff
• Fun with cops• Spanish anybody?
The small stuff
• Spanish anybody?
Navigating Cultural Differences
American Values in Business
Time is Money!
*Get to the point
*The elevator pitch
American Values in Business
American Values in Business
Time is Money!
*The elevator pitch
American Values in Business
American Values in Business
Results count
* What is the “Bottom Line”
* What’s in it for me?
American Values in Business
American Values in Business
Results count
* What’s in it for me?
American Values in Business
American Values in Business
American Values in Business
Networking – a necessity
*Meet a wide variety of contacts- and, you can do it anywhere!
American Values in Business
• Business attire: casual vs formal
• Be assertive: being modest doesn’t do well• Be persistent: somewhat aggressive follow up• Business gifts: only after closing deal (VCs)• Do not: discuss politics or religion
American Values in Business
American Values in Business
• Be assertive: being modest doesn’t do well
• Be persistent: somewhat aggressive follow up• Business gifts: only after closing deal • Do not: discuss politics or religion
American Values in Business
American Values in Business
• Be persistent: somewhat aggressive follow up
• Business gifts: only after closing deal • Do not: discuss politics or religion
American Values in Business
American Values in Business
• Business gifts: only after closing deal
• Do not: discuss politics or religion
Since we are on the subject
American values in Business
No flowers or bottles of champagne
Get a warm introduction
No business plan
Make sure you have a good one pager
American Values in Business
• Do not: discuss politics or religion
American Values in Business
• Sell yourself and your company; active selling is not considered excessive
• Quality doesn’t speak for itself – promote the benefits of your solution
• Long hours are the norm• When negotiating, US executives expect you
to “work with them”, i.e. show flexibility to explore options
American Idioms in Business
• “Touch base” – to casually follow up• “Slam dunk” – to be fully successful at a
venture• “Throw a curveball” – something unexpected• “Ballpark figure” – estimated price/cost• “Jump the gun” – an activity before the
appropriate time• “Test the waters” – to evaluate a situation
Misconceptions and Assumptions
• Our firm is well known in –country where you live-, our name will carry weight in the USA
• “This is the way it is” – our way is the right way entitlement
• We will launch easily in the USA (scalability, range, infrastructure)
Do’s when doing business in the US
• Prepare carefully www.hollandinthevalley.com
• Develop a marketing plan• Enlist help from local partners like business
development, legal and media coaching• Attend network events• Sell yourself and your company• Follow-up on any opportunity
The Pitch
• Useful to quickly explain what your company does
• Serves to capture your audience’s attention• Mention a problem your service/product
solves• Show competitive advantage• Maximum 60 seconds!
Art of Networking
• Networking is:• About establishing a mutually beneficial
relationship• “what can I do for you”, not “what can you do
for me”• Not limited to events; can be done during
business gatherings and certain social events
Don’t whine about……
Don’t whine about……
And hey!
Be happy that…….
The Extras!
• Confirm appointments• Use all relevant social media• Make sure you don’t cook the books• Build your credit status• Be smart and creative• Decimal point = comma• No liters, kilometers and Celsius or Euros• S = Z
Are you ready to do the USA?
• Financial requirements for a USA market entry• Identified an appropriate niche?• Do you understand your US competition?• Can you clearly and concisely present your
competitive advantage?• Committed to maintaining a long term
presence?• Do you understand US tax laws?