hustle

0:01 

Dawn, thank you for coming on Silicon Valley Successes. Quick question. What information do you wish you'd had time to say on the show? Or a question that I forgot to ask you that you wish I had?

 

0:12 

Well, Shawn, I think you covered all the really good points. I thought of a few more things, but it wasn't because of any Mrs. on your part. Oh, great. Smile, by the way,

 

0:21 

those compliments on it.

 

0:22 

Yeah, well, um, I think it probably like to mention a couple of the programs I didn't have the opportunity to mention. And we were talking earlier, and three examples of things that I'd like to mention our our professionals, women's, our professional women series, okay, our fuel SV, which is future Emerging Leaders of Silicon Valley. So that's for young professionals. And then also I failed to mention that this very weekend coming up. We're throwing a little street party for 170,000 of our closest friends. Are you coming this weekend? By the way? Probably not. Okay. Alright, well, we'll miss you. That would have been a lot nicer to have you there. But

 

0:59 

you know what, it's actually was going through the camera.

 

1:01 

No, it's okay. It's a good business showcase. Yeah, right. 170,000 people are walking past they are a captive audience for a weekend. Was that incredible? Yes. So there's that. And to double back to the fuel s fee. That is a happy hour that we host for young professionals. People come for a variety of reasons. We market it through meetup. And what is different about that on meetup and other groups is that we are industry agnostic, and people are there for whatever reason suits them. They may be looking for a job, they may be looking for an investor, they may be looking for partners, strategic partner, I've seen so many different kinds of connections made at that particular event. So it's, it's a wonderful, and then we have a professional live in series. So we weren't people in at all stages of their career so that they can connect and network and kind of make some meaningful transformative connections. Wow. Yeah. So so what you just mentioned there is access to possibly 170,000 onlookers to your company.

 

2:03 

Yes, networking events where you'll get to meet other young entrepreneurs that maybe focus on different areas of technology that maybe you can collaborate, right? And if you're a woman, founder, extra special attention that could be given to help you out

 

2:17 

correct box. Yeah, that's huge. Right? Anything else you'd like to add? Um, those were some of the highlights I wanted to cover. But um,

 

2:28 

you're speechless.

 

2:29 

I am. Oh, yeah.

 

2:33 

Well Dawne. Thank you for the extra time. Yeah. And I look forward for the next time that you're on SIlicon Valley Successes and thank you for also mentioned all those great other people that we we should interview from score, SB DC and all these other groups. Yeah, so I'd love a warm introduction. Happy to happy to do that. Shawn. Thank you. And thank you, again from SIlicon Valley Successes.

 

2:54 

All right. Thank you, Shawn. appreciate being here.

 

Chamber of Commerce and SCORE for Entrepreneurs

0:00

More though, about the other resources, because, yeah,

0:02

sure. I mean, it runs the gamut. There's a lot of nonprofits that we have, as that we have partnerships with, okay, that have a variety of tools. And I'm not even I'm drawing a blank on what's really specific on like, the score, for example, oh, that's a great mentors that you can come in, that will come in and meet with you individually, learn about your business, and help give you some guidance as you're moving forward. Okay, so they are so when they come into our office and meet with people room twice a month business owners twice a month to help get them started. So that's really a great first step when you're very young. Okay, and building out your concept and not quite sure how to proceed. And if you just have an idea,

0:45

are you able to meet with these mentors at the chamber? Yeah,

0:47

that's it, you come in with your concept, okay. And they begin to help you figure out how to flesh that out and how to move it forward. interested in

0:54

what if I've already opened up my business or started developing my app or platform? Can I then go to them there? Is it too late now,

1:02

you can still consult with them at that point it and any point you can we want to put you in touch with somebody who really understands what it is that you hope to accomplish, okay. And so that's what we try to do is kind of guide you towards somebody who's going to have valuable information. We don't want the counselors to waste their time or you to waste your time as you're exploring the ideas and then

1:23

there are like, there's so many nonprofits that are out there without going into the names of all of them at once you come in and we understand what you need. There's someplace that we can guide you for whatever the next step is in your business, so

Chamber of Commerce and Small Business Development Center SBDC

0:00

And more detail about some of those resources for sure.

0:04

So for example, we we work with a lot of local partners like the Small Business Development Center, okay. And so they talk about them. Okay,

0:12

most people, I'm sure, I've never even heard of the Small Business Development Center. So what do they do?

0:20

I'll stop you three more time.

0:24

The Small Business Development Center is a resource that's actually a federal resource, it's completely free. And there are generalists and specialists that are available. And again, it's one of those hairy audacious tools that are out there that are hard to describe. But they do everything from helping with mentoring creating a business plan, they have a magazine or any online, they do,

0:47

as a matter of fact, have a resource guide that lets you know what it is that you need, who you need to connect with, depending on what your what industry you're in, okay. And some of the tools that are available through their website site and through the agents that they have working in all of the regions, all the local regions here. So what happens is you contact an SB DC agent, and they come out they learn a little bit more about your business, what you intend to do, okay, your goals and then they set you up with a specialist. So if it's a technology resource that you need, they have technology investor group that we can connect you with, they have access to capital, both resource both seminars and actual traditional and non traditional funding available, okay,

1:34

and they will see you all the way through the process from beginning to end, and that's absolutely free. Okay,

1:38

so that's one resource that's partnering with the chamber, right? And we're definitely on Silicon Valley success is we're gonna have someone from SB DC here. Oh, awesome.

1:46

That will be fantastic. Tell me

Chamber of Commerce other perks, what is Leadership Mountain View

0:00

parts of the chamber. So for example, I heard of this thing called leadership Mountain View. Can you talk about what that is? That seemed very fascinating to me. Yeah.

0:10

So leadership Mountain View is a 10 month program that you can apply for as a community member. And that it's one day a month. And it's focused around civic leadership and understanding kind of the behind the curtain view of the city of Mountain View, and how decisions get made and who, who's really kind of leading the town and what's happening so you get to see you know, how education and their decisions are decided you get to tour schools and understand more about what it's like to live here when flight to serve here when it's like to lead here and not only are you do you become very close to your classmates and there's generally between 30 and 35 and any class to the classes all intimate and a really great chance to connect but there's about 70, 750

0:56

alum in the program okay and those folks are all leaders you many of them are leaders in the community so every one of our mayor's has been through leadership Mountain View really

1:05

yeah so by going through leadership Mountain View you're able to meet the local community you're able to meet the local government right at the Council level the vice mayor the mayor every level and ask them questions possibly and get feedback

1:20

on either day day life or even your business if you have questions for them if you have if they have time Is that true? Yeah,

1:25

that's exactly right. Oh, should sign you up today. You should

1:29

2019 best class ever

1:34

but but

Summary of Chamber of Commerce

0:00

Now for people that may be from an area that doesn't have a chamber commerce or does not know about what chamber commerce is, could you give a little bit of detail into what a chamber commerce does and is

0:12

sure, yeah, absolutely. So the Chamber of Commerce functions a little bit differently in each community because we kind of customize the membership. It's a member organization that serves businesses within the community, and we're a little bit of a catalyst a convener and we foster collaboration within the community and all over the world. Really. So So these companies that are members of the chamber are they only established corporations or are they startups are they are they anyone they're really anyone that can be anywhere in the world they can be right here in Mountain View if their interest is in connecting to folks to businesses here in Mountain View that's something that we can help them with so so it's about we have about 760 different member companies

0:58

are actively involved in the chamber so

1:00

going back you said anywhere in the world so I'm a startup from New York or even maybe Beijing and I wanted access to the companies here in Mountain View I could join the chamber commerce you

1:14

could yeah absolutely so it's very easy to do it's something that you can do online and we have a website which is chamber mv dot o RG and you can get anybody can get information from anywhere in the world and what it is that we're working on what we're doing who are members are and how that they can get active and

Joining the Mountain View Chamber of Commerce

0:00

If I

0:00

were to join the chamber, yes? What is the onboarding process look like? So if I'm just a startup, me and my co founder, we come to you and say, Listen, this is where we're at with our company. We want media exposure, we want access to potential partners. We want someone to check out our idea.

0:21

But we don't know where to start. Right? And I sit down with you, what would your advice be? Who would I talked to tell me about all these nonprofits resource, you already mentioned? Score, you already mentioned SB DC, right? But sounds like there's an abundance there are

0:34

and it really depends on your business needs. So I think that is what we do is we customize what we do to everybody that joins so and of course, there's a spectrum of membership level. So you can join at the very basic level, it's extremely affordable, and you're at least listed on our directory, and you have access to our programs, okay. And we kind of build up from there, depending on the marketing upside that you need. Okay. And depending on your goals, and how customized the solution is for your needs. So obviously, it's going to be a little bit more pricey to belong to join the chamber if you need to some personal introductions and also engage with folks, when you

1:11

say, personal introductions, would that just be we're at an event you go, Hey, Sean, there's Tim and walk away, or what would you consider personal reduction

1:20

the same way that you do your instructions, okay. When I mean, what I learned what your passions are, I want to walk away, I

1:26

just walk away

1:29

know what, but when you meet people, and you can connect them to somebody else that you realize, wow, that would be a great connection for them. We're constantly doing that. That's really what every one of us are doing. We're a team of six. So we're so long, what are the roles is a team of six? I mean, is it just everyone doing the same thing? Or is I mean, talk about the structure of it. So the way that we are set up as we have a CEO, okay, have a fairly new CEO with us right now. His name is Bruce Bruce Humphrey. And he leads the organization and then I am work with Bruce and I manage membership and help develop all of our our strategy. Okay, and oversee operations. So it's about helping members engage with one another as low priority. Tell me about this engagement? Is it Are you talking about events? Are you talking more that introduction, and then making sure there's follow up with that both both. So is creating what we try to do is create events that have relevance and bring the right people together so that they can meet one another. They're in the right room. Okay. And so that's what a lot of our programming is about. It's very specialized and intentional. So that is something that I helped lead. And then we have somebody who does events, okay, that'd be Katrina,

2:42

and we have Heidi who does social media for us. Okay. She oversees a site called I love nv.org. Okay. And that is a great website to go to, to discover what's happening in Mountain View, things that you might like to know both both business and pleasure, soldier. Yeah, don't have you been to that website. I love envy.

3:02

I've heard about it. Yeah, I've checked it out. I on occasion, I've heard there's pictures of very handsome entrepreneurs on there, sitting in rounded chairs.

3:11

Oh, my goodness, you must be on there somewhere.

3:16

But But. But that remind me of another instance where we actually use the chamber experience where the electric bikes we really what we really wanted one outside of our office, and we had no idea how to go about doing it. And we made a call or an email to you, I believe, and within two days, we had 60 electric bikes out front of our facility. Have you used them? They they're always used, always used by the members of our building. In fact, people have actually come to me and gone, you know, where are the bikes today? Okay, hold on, hold on. Let me check. Let me check my up. But it was from warm introductions that you guys have provided to us right now. Is there a limit to these introductions? Does someone overstep their bounds it anytime I'm Yes,

3:59

absolutely.

4:01

There's a limit to everything. Okay.

4:06

So I can't say no on that, but we are will always help you get figure out what the next steps are, that are practical, okay, right. So if you're going to come in and say, Hey, Don, I want to go right to the top of Google. Let's be honest, that's probably not going to happen. Okay, you're going to have to pay a lot of money, not just okay,

4:21

cool aspects, right?

4:24

But within reason, when you need, you know, whether it's customers that you're looking for its strategic partners that you're looking for, I don't want to say investors because that's not something that we promised. But the fact is, when you're out and about and doing the events that we offer, you have the chance to connect with everybody else.

Exposure through the Chamber of Commerce

0:00

The chamber.

0:00

So when you're saying who the who the members are, yeah. So if I became a member, I would be put on that list. So I'm an early stage company. Just me and my co founder, I wanted to become a member. I could join I we get on that list.

0:17

What are some of the benefits I would get with that? The,

0:21

you know, the primary benefit is visibility, marketability, and then connectivity. So your ability to connect to other businesses in and around Mountain View, really, businesses of all sizes, from the smallest to the largest, about 80% of our members are mid sized companies. And then we have several of the larger employers here in Mountain View that are very active as well in the chamber. So benefits would be, you know, your ability to connect with other members and also be aware of what's happening in Mountain View, and that creates a certain relevance when you're looking to pursue a conversation with somebody it's very helpful to understand the community, their community that they are in and that they serve and that's where the chamber can be extremely beneficial. Okay, so yeah.

Silicon Valley Successes after hours Shahid Ep 2

We talked to Shahid Chisty an hour after we finished filming and talked about what question he wished were asked that could help founders on the topic of capital and startups

0:05

Welcome to Silicon Valley successes, we interview experts and entrepreneurs to get the world access to the knowledge and experience that is here in Silicon Valley. Our mission is to create opportunities for those who seek them and help you to become next. So welcome to the after hours, Silicon Valley success

0:22

since being on the program, what some information that you really wanted to mention that you didn't have a chance to all on the show,

0:30

actually, one of the things which I would recommend startups and founders is, is to to be generous. And I mean that in the following way, I've seen a, and worked with a couple of startups and invests investors as well, angel investors, for example, as well. And they have an interesting strategy, which I think is the background to their success, namely the that they've taken the attitude of look will will give you will give you a big incentives so that that incentives always prompt people to try and do their best.

1:16

So for inviting said, that can be almost anything. Yeah,

1:19

I in this case, for example,

1:24

you know, we, we've worked with groups as well who make introductions to investors in certain countries, China has one example. And if you think that multiple startups are talking to these groups, and then if one and they'll give you perhaps, you know, typical ranges of the, the sort of commission structures, fee structures that they might have. And if one company is quite generous in that respect, just as you know, if you think about it person yourself,

1:56

if one company is offering more than the others, the likelihood is that group will, will be incentivized, you know, to do their utmost for that company, because they will be rewarded for it as well. So, I've seen some strategies like that, that that really struck me as being very successful. So you're saying generosity

2:18

other than salary, and possibly equity in the company. Are there any other ways to be generous,

2:25

including, with, for example, board advisors, encouraging mentors, just actually know people who could help you with the business, if you incentivize them, rather than trying to negotiate down to the smallest

2:42

Nicole Nicole of dying, that you can, you can negotiate that you what I noticed is that as example, these people that I've worked with, before, they've really got people motivated to, to try and help the company and the staff up as hard as they could. So question or that motivation, if you're giving away that much your company,

3:05

what's the left though, you should be scared of that? Or is it grows so fast, hopefully, everyone still went, yeah, that's

3:13

that that's a very good point. And actually, that that comes back to some of the subject matters that we were talking about the media, you know, the VC industry, the alternative routes of funding and financing that have a reason crowdfunding For example, I, CEOs, and even in Silicon Valley among the VCs themselves there, I'm hearing also much more about people saying that the typical the old VC model is broken. Tell me about that. The Yeah, the background to that is that the the usual route has been for people, startups, early founders to go to the VCs, they'll get their funding, though how large portion already taking in equity by the VCs as they go for each subsequent round. And more and more of the equity is taken up, hence our saying that so ideally, you try and bootstrap as far as as possible.

4:14

And the in the old route. Also, it ended up being the case that founders perhaps only had a few percent left of the company that they created of the idea that they had, and that's a great chain. The other the other side of the coin, also is that there, there have historically also been very little limited opportunities for people to, to get him in to get the opportunity to invest in interesting startups. Even if you think of companies like very successful tech companies like Facebook and others, it's really only a very small club that even had the opportunity to get as an early stage. And therefore, with the new technologies which are coming about the that there are strong

5:10

attempts be made to try and enable

5:16

your Joe public really to get involved. There are regulatory

5:20

frameworks in place. So which, which limits how far one can one can undertake that strategy. So you're telling me before, sorry

5:29

to cut you off. But Facebook, even crowdsourcing was available at that time

5:36

had so few people actually had access to it, maybe no one, the general public still would have had a chance, that'd be a fair thing to say, Well,

5:46

I think that with crowdfunding in particular, it's, it's a very well suited for product based companies that are targeting their products that consumers so for example, you know, if you're doing an educational robot, which is

6:05

this company called Ruby, for example, that is looking to sell educational AI companion robots. So for three to seven year old children, that company would be ideally suited to undertaking a crowdfunding in order to be able to develop its product to to an MVP status.

6:30

But coming back to the Facebook example,

6:34

again, there were there were very few people

6:38

and investors who, who had the opportunity to get in until the company actually went public.

6:50

So it was literally a moat just a handful of people and those those investors or people themselves were already you know, very well can capitalized. So your, your everyday investor, including

7:07

large numbers of so called accredited investors in the US really only see some deals at very late stage. And that's, that's in my opinion, also one of the reasons why crowdfunding has taken off and in particular, actually, more recently, given the technology of these initial coin offerings that has really opened the doors to the general public to get involved at a very early stage and a lot of startup companies interested now for these crowdfunding or these Icos what type of due diligence is done? And I guess before answering that could you talk a little bit about what due diligence is due diligence is essentially being able to check on the company to to see in detail what is it strategy What is it promising how's it planning on executing its strategy who are the team members involved what sort of documentation is in place so it's really if you if you like looking at the nuts and bolts of the company and then being able to decide Yes, this is something that I'd like to invest in on you know, this is something actually which I thought initially was a good idea but having looked in detail actually I don't want to invest in it perhaps. So with Icos

8:25

I think there is room to improve the due diligence process.

8:31

However, even having said that, even in the venture capital model, you'll have different sorts of investors some investors will be experts and they will do detailed due diligence they will know exactly what they're looking for. There are other investors perhaps who would base their decision on what some of those experts investors are finding in the due diligence process and they will then for example, come in as co investors and it's a symbol similar thing actually with the Icos know some some investors will know what the what to look for other investors may be a bit more naive

9:11

in the Icos in particular the information which is generally provided is on a website

9:17

shake. Can you go into detail about what a white paper is and the information that would be on it. So send

9:23

me a white paper is generally going to be the document which startups that are undertaking an Ico show to the potential investors or token bias. And essentially, the initial white papers that were produced were very technical papers demonstrating to the interested investors or buyers of the tokens, what the technology exactly was behind, for example, the blockchain that was being developed over time. And actually that information is involved more into a marketing style of document. But initially, the idea was that experts could even have a look at the white paper and they were invited actually even to see if they could find any flaws in the technology that was being developed interested. So I

10:22

wanted to get access to a white paper, how would I go about doing that

10:27

the white papers are typically listed on the on the company's Ico webpage, they'll typically be a link to see the white paper so they are generally freely accessible,

10:42

interested in what other documents from marketing material does a company have, when they want to do an Ico

10:49

that's a is usually the extent of it. But the the websites that are being developed nowadays are also quite extensive, providing information on what the companies trying to do, who the team members are the the timing, for example of the fundraising, that it's on the undertaking or token sale that it's undertaking so so essentially really the website and the white people great

11:17

Alright, so you don't take up any more your time. Thank you for the Silicon Valley success after hours podcast video

11:26

pleasure speaking with you. Thank you very much.

11:32

Thank you. From all of us at Silicon Valley successes. We hope you found the information presented today useful in your path to success. For further information on accessing the resources in Silicon Valley. You may visit us on the web at Silicon Valley successes. com on Facebook and YouTube. Thank you. And remember, we want to help you in your journey to become the next success.