In the frequently misunderstood world of Silicon Valley tech PR, startup marketing programs often begin and end with getting a nod from TechCrunch. While worthy of notice, don’t be fooled into thinking that one shiny headline is enough to land your next customer or your next round of funding. Truly making a mark for your company — and gaining traction — takes much more than just one earned media placement.
Widely respected TechCrunch journalists recently held a startup conference in the heart of Silicon Valley. Dirsruptors driving the future of smart cities and autonomous vehicles gathered to explore the technology of today and tomorrow. The TechCrunch panels also featured high-profile venture capitalists, including early Lime investor Sarah Smith from Bain Capital. (She left Facebook to become Bain’s FIRST female partner in 2018 — Sarah knew scooters would be cool way before they were unleashed on our streets!) VCs from Techstars and a Maniv Mobility also shared solid advice, with the goal of helping startups forge a successful path in today’s brutally competitive tech ecosystem.
Here’s some secret sauce for startups straight from Silicon Valley investors:
- Start with solving a real problem. Want to ensure fast growth and rapid scale as a startup? Investors are looking for startups that solve real, massively experienced problems in new and unique ways. Founders should critically analyze socioeconomics and be able to communicate how their innovative solutions will transform markets and/or life.
- Distinguish where the money is, then get as close as you can in the supply chain. Promising high-profile companies have failed because they were unable to navigate the complexities of supply-chain management. Logistics are often overlooked by budding startups, so address supply management early on — duties and tariffs, regulatory requirements, and delivery details can be costly.
- Consider partnerships that deliver operational and strategic advantages. From Boston FinTech disruptor Airfox partnering with a retail giant to bring financial services to the unbanked to local health tech startup Kenzen working with Gore to develop a precision health monitoring system, partnerships can provide incredible advantages — such as capital, traffic, marketing support, and mentoring — that help propel startups into the next stages of growth.
- Spend time with teens. According to Bain Capital Partner Sarah Smith, investors pay close attention to emerging trends and adoption activity among teenagers. Ideas are the currency of the future, and young digital natives accustomed to Instagram and Lyft bring different expectations and perspectives on how to connect with the world. Today’s teens will inspire and drive the next decade in Silicon Valley solutions.
From seeking seed funding to gearing up for public launches: Startups are well-advised to continuously build relationships and reputation. Clearly communicating your vision and values helps establish credibility. Before building buzz, make sure your startup has a concrete mission and messaging that you can articulate.
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