MAP14 Master Class - Startup Soft Skills

Startup Soft Skills

Rohan Workman

@Roh_WorkmanApril 2014

Contents

What are soft skills?

Soft skills + hard skills =

Why are soft skills important?

• Do you want customers, investors, advisors or employees?

• Do you have a brand?

• Do you have a good reputation? (Do you have a reputation?!)

• What is your emotional bank balance – refer Stephen Covey

• First impressions count!

• What are you doing now that makes you look bad?

Why are soft skills important?

• These are relationships not transactions / commodities

• Relationships (should) last beyond one interaction, company

• Real relationships are mutually beneficial and are long lasting

Why are soft skills important?

“Funding is not a transaction, it is a

relationship”

Stuart Richardson

Adventure Capital

What you’ll learn?

• How to come across like a professional

• How to avoid VERY simple mistakes that create friction

• What to do prior to approaching somebody for sales,

mentoring, investment, etc

• Practical tips for interactions

Common Sense

“Common sense is not so

common”

Voltaire

1694 - 1778

Bad email example

Unrealistic expectations

Before emailing

• Read their website

• Read their website

Before emailing

Before emailing

Before emailing

Before you ignore this advice and do it anyway, please read this.

Before emailing

• Can you articulate your idea in layman’s terms?

• Are YOU eligible to receive investment from THEM?– Do they have an investment mandate?– Do they only invest at a certain stage?– Do they only invest in companies in a certain region?– Do they only invest in companies connected to a University?

• Did YOU pass this test???

• Or are YOU going to waste their time and yours?

Before emailing

• Do you understand your audience?

• How do you fit in?

• Are you ready?

• You are ready

The Email

• If you are at the right stage to meet them…

• Research their team:– About Us / Team page– Google– Linkedin– Their email address

• Do you know somebody in common?

The Email

The Email

• Find a person to email if you can

• Ensure you spell their name correctly

The Email

• Do not email blast

• Be polite

• Don’t be arrogant

• Humility + confidence is a good recipe

• An email is a proxy for the person (remember first impressions)

The Email

• Dot point is golden

• Propose at least two times– Thursday 3 April at 10.00am– Friday 4 April at 11.30am

• Offer to send a calendar invitation

• Figure out how to work your calendar

• Hint: check your time zone

The Email

The Meeting

The Meeting

• Don’t turn up late

• Shake hands with everyone

• Don’t get the name wrong

• Include everyone in the meeting – eye contact!

• Don’t make up anything on the spot. There are two scenarios:– You don’t know and you don’t know how to find out– You don’t know but you can find out

The Meeting

• It’s ok not to know something!

• Pay for the coffee

• Travel to them

After the meeting

• Follow up email

• If something was agreed then deliver it

Introductions

• Happen all the time

• An introduction IS NOT A SERVICE

• An introduction is PERSONAL VALIDATION of the

person you’re introducing

• Common sense

• Blackbird example

Introductions

When asking for an introduction to somebody:•Can the person you’re asking make that introduction for you?

•Can they vouch for you?

•Have you read their website?

•It is ok to ask for help or advice!

Introductions

• Have you sent them an email which they can forward to that

person introducing yourself and why you’d like to meet them?

• MAKE IT EASY FOR THEM!

• Report back

Introductions

When making an introduction:•Can you vouch for the person who wants / benefits from the intro?

•Are you willing to stake your reputation on them?

•Double opt-in

•MAP to VC

Introductions

Thanks for the intro Zezan (now in bcc).

Hi David – great to meet you over email. As Zezan mentioned, I do blah, blah

blah and would welcome the opportunity to shout you a coffee at your

convenience and chat about blah, blah, blah.

How are you placed for either of:•Time A•Time B

Feel free to suggest an alternative if the above don’t work. Look forward to

meeting in person!

Cheers

Rohan

Collaboration

When approaching mentors / anybody:

•You want to collaborate?

•Don’t expect them to do your thinking

Social Media

• Do you accept Facebook friend requests from strangers?

• Do you accept Linkedin requests from strangers?

• You can but tailor the message, describe opportunity

• Be careful with Facebook

• Twitter

• On to NDAs

NDAs

“Don’t ask any potential investor to sign a nondisclosure agreement (NDA), because asking them to do so will make you look clueless.”

Guy Kawasaki

NDAs

• Have to read / agree to NDA?

• Keep track of all NDAs signed?

• Similar deals

• Ideas are (pretty much) worthless

• Technological innovation has value

• Afraid they’re going to steal your idea?

• Mark Suster link

Bridges

Hints

What we want

• Attend events registered

• Not a zero sum game

• Pay it forward

• UniMelb entrepreneurs to be the MOST charismatic

• Spread the word

Questions?