Lost in ‘startup’ translation: What to know before going to the US

“We can’t raise money from local VCs.  Can you introduce us to some investors in Silicon Valley?”

I often receive this question from Founders outside the US, and cringe almost every time.   If you are a Founder of a startup and you are not among the ranks of Rovio, SuperCell, Spotify or Skype (in otherwords: 99.99% of startups out there), take a moment and see yourself from the perspective of the VC.

You see in your startup an exciting, high potential idea that is ready for  ‘smart’ VC money.

A US investor, however, sees a startup that has not yet been endorsed by its local investors community, a founding team with few, local, trusted references, an offshore corporation subject to completely unknown laws, and a 16-hour trip to get to their headquarters.

Hm.  Can you see why a US VC may be reluctant?

The next time I cringe is when Founders say:

“We want to move to the US market – probably Silicon Valley.  We plan to send a few locals to start closing key accounts, hire an A-class team and really get our company going in North America!”

Seriously?  Most startups vastly under-estimate the time, cost and difficulty of entering the US market.  Here are just some of the challenges:

Hiring.  How will you hire A-class talent, when the A-players in the Valley have little interest to work for a foreign startup from a country they’ve never visited and for a CEO they know very little about?  There are thousands of local startups competing for the best talent, what makes you believe they will join yours?  Most importantly, A-players actually almost never interview for jobs; they are brought in by VCs or ‘networked-in’ by other A-players.

Sales culture.  Do you really understand how to sell in the US?  Most international startups do not.  They often confuse being fluent in English with being able to sell to Americans.  Selling in the US isn’t about being able to speak the language.  It’s about knowing how to create trusted relationships and build a trusted brand with customers.  Knowing how to find the right contact within a large organization and having someone in your network who can connect you.  Making that cold phone call and delivering the right message, tone and attitude.  And naturally, knowing when to banter about last night’s Niner’s game too.

(Note that I’m referring to startups that need to personally meet actual customers, channels and partners in the US.  If your business is completely web-based, you will likely be able to scale without having to relocate to the US).

If I were the Founder of a US startup and wanted to enter, say, the Finland market, I would not think to send a few Americans to Helsinki to try to build trusted customer relationships, hire the best possible talent and raise local venture capital.  It puzzles me why Finnish/Nordic/Singaporean startups think they can do this in the US.

Equity culture.  Do you understand equity culture in the US?  I find that most international startups don’t have a clue because when I look at their cap table, I see only the Founders owning equity.  Incredibly short sighted.  I rarely see the hard working, rank-and-file employees with equity.  It will be difficult if not impossible to build an A-class team in the US with a ‘Founder’s-take-all’ attitude.  Not even the B-players will find your startup interesting.

As an aside, the US truly stands ahead in this attitude of sharing wealth among all employees, from the CxO down to the newly hired administrative assistant.  I think it is a key advantage of the US startup culture:  sharing the rewards of success widely, and in turn creating a healthy, vibrant and motivated ecosystem.

Network.  Do you have a strong network in the US?  Personal connections to your first 25 customers? Those who have these valuable connection receive a subtle but critical advantage.  Many Europeans have a difficult time understanding this because they cling to a belief that a good product will sell itself.  Beyond those great products that customers run to purchase/sign-up, (think: Dropbox, Facebook, Angry Birds, AirBnB, etc..), the vast majority will need to win through good customer, channel and partner relationships.

International Founders often make the assumption that the skills that made them successful in their smaller home markets will translate successfully to the much larger US market.  A subtle but important shift needs to occur when entering the US market.  If you don’t understand this, you can easily get lost in ‘startup translation’.

Some of the differences are quantitative: valuations, term sheets, compensation expectations, cost of working/living, and depth of business networks.  Others are more qualitative: the role of sales, negotiation styles, equity culture, the role of the Board & Advisors, credibility with the investor community, etc..

These are some of the most common ‘translation pain points’ I’ve seen international teams face when they relocate to the US:

Translation 1The market is much larger than you realize.  Although the US (313M) is smaller than the EU (505M), South America (387M) or Asia (Bn+), its seamlessness surprises most international entrepreneurs.  The US is a single, tightly integrated market bound by one set of laws, language, currency, culture and mindset.  This often throws off the European entrepreneur who is used to crossing borders, languages and cultures on an almost daily basis.  I worked in Europe for Cisco Systems for 6 years and witnessed, sometimes painfully, the significant diversity of each national culture and the friction this causes in reaching scale.  The US market is large and efficient, which is why one can often reach scale much faster than in Europe/South America/SE Asia.

Translation 2:  Raising venture capital is (much) more difficult than you realize.  The US VC market has more venture capital and does more deals than anywhere else in the world.  However international startups face more barriers than their US counterparts.  First, there is risk in investing in an unknown team, whose core operations are far from the VC’s home.  It is not just geographical distance, but cultural, operational and legal differences that make investors wary.  VCs prefer to invest near their home base, which offers a rich ecosystem of startups that are known, trusted, accountable and accessible.

Second, many startups – particularly those from Europe and Singapore – often receive their first investment rounds from their Government and this creates unique problems.  For starters, cap tables look odd.  Operating Agreements have strange and cumbersome rights and protective provisions that may be a deal-killer for later stage investors.  There are often bureaucratic reporting requirements.  The company Board still consists of only the Founders.  No one from the Government has stepped in to guide the startup, bring in a deep network of stakeholders or push the Founders (hard) to exceed their goals. Founding teams are weakened by this lack of guidance, accountability and healthy control structures.  Government venture capital feels good in small doses but is destructive in larger quantities.

Finally, many international startups are unprepared for the rigorous selection process of venture funding, particularly in Silicon Valley.  The US market is the most mature in the world.  Its VCs are deeply experienced – and its Startups benefit from this more mature ecosystem.  They know how to play the funding game better.  Many international startups come from countries where they are large players in a smaller market, and find it difficult to transition to being a smaller player in a very large ocean.

Translation 3:  The sales culture.  Earlier in this post I discussed some of the differences in sales culture. There is another subtle but key difference worth mentioning.  I’ve observed in many European startups a somewhat negative perception of the sales role, that ranges from tolerance to outright disrespect.

In general, you will find a very different attitude towards sales in the US.  Sales and Engineering are at the heart and soul of most US startups.  These guys are the rock stars.  When sales execs make over a $1M commission per year, the rest of the company cheers loudly.  Why?  Because when sales are pouring in, the people who make the real money are the equity holders and in the US, that is everyone.  Which is a good reason to cheer (see the next ‘Translation’ below).

You probably already love your engineers.  When you move to the US, learn to love your sales team, too.

Translation 4:  Equity culture.  The US startup community thrives on equity and international Founders need to be ready to allow employees to become owners.  Every employee!  Plan on an Employee Stock Ownership pool of 10-20% and be ready to negotiate single digit ownership percentages to critical, senior employees.  And don’t forget that if you start to offer the US employees stock, you will need to offer the same to your employees back home.  Do the math.  It will add up to significant dilution.  If you don’t want to offer equity to employees, perhaps you should not be in the US.

When international founders get nervous at diluting their ownership, I tell them that the ultimate goal of dilution is to create a stronger network of stakeholders who all share the common goal and motivation to increase shareholder value.   I remind them that 10% of a billion is much more interesting than 100% of a million.  Do the math.

Translation 5:  More expensive than you realize.  The US market is expensive. Salaries can appear astronomically high in markets such as Silicon Valley and New York City.  Even in cities like Austin, Boulder and Seattle, executive salaries are much higher than what you pay to equivalent person back home.

And there are other costs.  Office leases in prime areas are extraordinarily high.  San Francisco is a fantastic city to live – and also fantastically expensive.  A studio in SOMA is around $2,000/month; a two-bedroom apartment around $4,000.  Mountain View may be a tad less expensive. The cost of healthcare is spiraling relentlessly out of control.  Companies are generally expected to offer healthcare plans to employees, which adds to the cost structure.  And expect to spend a significant amount of time decoding the US healthcare system, because it is complex: how to buy insurance, the myriad of plan options available, rules on where to go for healthcare, etc.

Visas.  You will need a small army of lawyers to help ensure that you and your team can arrive legally and stay legally in the US.  Google “Sarbanes Oxley”.  When your company grows, you will be required to comply with this law that requires costly and detailed accounting, auditing and internal compliance reporting.

Our legal system is driven by an insane need to provide liability protection, which results in long, complex documents.  Finally our tax system is among the most complex in the world.

Fortunately the US has many accountants, tax experts and immigration lawyers who can help you through all these issues.  But it is still complicated!

Translation 6:  Networking.  This is perhaps the most difficult to describe.  In the US, we have a drive to constantly meet and mix and talk and openly share ideas.  It is in our genes and it is our lifeblood.  It is the casual banter over a business meeting coffee, which to a foreigner feels full of seemingly random talk.  It is the speculation about next week’s Giants game or chatting about which colleges our children are applying.  It is a distinctly different approach to work-life balance and a tendency to mix business and personal life much more than other cultures.  I wrote a longer piece that attempts to illustrate our networking culture.  See:  https://generationsiliconvalley.com/2012/10/04/create-your-own-coupa/.

In closing, I see many international startups abroad that are indistinguishable from their US peers:  driven, customer-focused, networked and perfectly capable of integrating into the US market.  Equally, there are many international startups that do NOT need to enter the US market.  They will do just fine building a global brand from their home countries.

However I continue to meet startups that have a dream of ‘going to the US’.  It is likely the market size, the abundance of venture capital, the ‘cool’ factor of living in young, hip SOMA, the great weather in Silicon Valley – or some combination of the above.  But if this is your startup, be prepared to shift your expectations of what it will take to enter, gain grow and scale in the US.

Don’t get lost in translation in your journey of becoming a great, US-based startup.

Chris Vargas

Helsinki, Finland

Advertisements

60 Responses to “Lost in ‘startup’ translation: What to know before going to the US”


  1. 1 технологии управления September 14, 2013 at 1:07 am

    Delta’s high tech kitchen faucets can be purchased from their online catalog at or
    from any home improvement chain. Meanwhile, the Council continues
    to build on the success of the website by improving the existing programs and implementing new
    user-friendly software. I don’t care about fading I want
    to know if a washer will actually get my clothes clean.

  2. 2 hiring jobs in san antonio tx September 11, 2013 at 5:19 pm

    When writing your resume, always do your best to
    accentuate the positive aspects of your career. Try to show the value in what you have
    to offer a potential employer. Always disclose important negative information, but the highlights of your resume
    should put a positive spin on any negative aspects.

  3. 3 map quest.comhttp:\/\/www.google.com\/ September 11, 2013 at 7:34 am

    If you are going for most excellent contents like me, only visit this site everyday
    because it gives feature contents, thanks

  4. 4 personals madison wi August 23, 2013 at 9:48 am

    If you desire to get a good deal from this article then
    you have to apply such strategies to your won weblog.

  5. 5 new software retailer August 22, 2013 at 7:47 am

    It truly is really a nice helpful section of information and facts. I am content that you simply distributed this helpful information here. Remember to stay all of us current such as this. Many thanks for giving.

  6. 6 Get the facts August 17, 2013 at 5:55 pm

    Thank you so much for sharing this great web page.

  7. 7 sr22 insurance quotes August 11, 2013 at 6:36 pm

    Thanks for your marvelous posting! I truly enjoyed reading it, you will be a great author.
    I will make sure to bookmark your blog and will come back at some point.

    I want to encourage you continue your great job, have a nice afternoon!

  8. 8 forex binary options trading strategy August 10, 2013 at 2:54 am

    What i don’t realize is in fact how you are now not actually much more well-appreciated than you might be right now. You are so intelligent. You realize therefore significantly in the case of this subject, made me personally imagine it from a lot of various angles. Its like women and men are not interested unless it’s one
    thing to accomplish with Woman gaga! Your personal
    stuffs excellent. All the time deal with it up!

  9. 9 digital options trading August 6, 2013 at 8:22 am

    Link exchange is nothing else except it is simply placing the other
    person’s blog link on your page at appropriate place and other person will also do same for you.

  10. 10 cracked steam August 4, 2013 at 9:18 pm

    Thanks a lot for sharing this with all people you really
    recognize what you’re talking about! Bookmarked. Please also discuss with my website =). We can have a link change arrangement among us

  11. 11 Tammara August 3, 2013 at 1:57 pm

    Great post. I was checking constantly this blog
    and I am impressed! Very useful information specifically the last part
    🙂 I care for such information much. I was seeking this particular information
    for a very long time. Thank you and good luck.

  12. 12 online form builder August 2, 2013 at 1:50 am

    However, there are several online interfaces available where one needs to click on different types of options to
    send HTML code in email or to generate HTML code. There are
    many web designers who charge huge amount of money to
    do this job for you. If a picture is worth a thousand words then you can just image how much
    you will absorb by browsing this site.

  13. 13 Online Form Generator August 1, 2013 at 11:17 pm

    Those that cannot apply for this kind of card or that would prefer a different solution
    could consider a prepaid card that comes with a credit building element as an alternative.
    Rather, they’re designed to help spark possibilities in your own mind. Decide now because if you are a weight lifter, you will not build the chest that you are looking for.

  14. 14 junior fx trader August 1, 2013 at 9:21 am

    Hi there, its pleasant article concerning media print, we
    all be aware of media is a fantastic source of facts.

  15. 15 comparing home and contents insurance australia July 31, 2013 at 1:03 am

    This piece of writing offers clear idea for
    the new users of blogging, that truly how to do running a blog.

  16. 16 Lynn July 29, 2013 at 2:30 pm

    Fantastic website. Plenty of helpful info here.
    I am sending it to several friends ans additionally sharing in delicious.
    And of course, thank you to your effort!

  17. 17 http://www.adangobernador.com/unidos-en-oracion-por-la-salud-del-presidente/ July 29, 2013 at 2:08 am

    Heya terrific website! Does running a blog similar to this require a lot of work?

    I have virtually no expertise in programming however I had been hoping to start my own blog in the near future.
    Anyways, if you have any recommendations or tips for new blog owners please share.
    I know this is off subject however I just had to ask. Appreciate it!

  18. 18 fat loss factor review July 25, 2013 at 1:37 pm

    I’m not really specific the location you are getting your information, nevertheless terrific topic. I would need to spend time studying extra or maybe exercising a lot more. Thank you for fantastic details I’d been trying to find this info in my goal.

  19. 19 {warez|free porn|warez downloads|teen porn|free teen porn|how to spm|xxx porn|nude teens|rape porn|preteen xxx|ddoggprn|raygold|goth porn|emo porn|pr0n| July 24, 2013 at 3:13 am

    Helpful info. Privileged me I ran across your website out of the blue, and I am pleasantly surprised exactly why this specific coincidence didn’t took place before hand! We bookmarked it.

  20. 20 http://punggolecopolitan.com July 20, 2013 at 3:57 pm

    Hi there! I could have sworn I’ve visited this blog before but after looking at many of the articles
    I realized it’s new to me. Regardless,
    I’m definitely pleased I found it and I’ll be
    book-marking it and checking back frequently!

  21. 21 free weather alerts text message July 18, 2013 at 4:30 am

    Hello there! This post could not be written
    much better! Looking at this post reminds me of my previous roommate!
    He constantly kept talking about this. I most certainly will send this
    article to him. Fairly certain he will have a
    very good read. Many thanks for sharing!

  22. 22 the big apple car insurance policy. July 12, 2013 at 7:45 am

    Aw, this was a very good post. Taking the time and actual effort to make a really good
    article… but what can I say… I hesitate a whole lot and never seem to get nearly anything done.

  23. 23 binary trading brokers July 11, 2013 at 6:37 pm

    Hi! Someone in my Facebook group shared this website with us so
    I came to look it over. I’m definitely loving the information. I’m bookmarking and will be
    tweeting this to my followers! Superb blog and terrific design and style.

  24. 24 credit rating July 7, 2013 at 11:47 am

    Wow, this article is fastidious, my younger sister is analyzing such
    things, so I am going to inform her.

  25. 25 cheap car insurance california sr22 July 5, 2013 at 3:02 am

    I do not know whether it’s just me or if perhaps everyone else encountering issues with your blog. It appears as if some of the written text in your content are running off the screen. Can somebody else please provide feedback and let me know if this is happening to them as well? This might be a issue with my internet browser because I’ve had this happen before.
    Kudos

  26. 26 progressive homeowners insurance florida July 1, 2013 at 6:53 am

    It’s the best time to make a few plans for the future and it is time to be happy. I have learn this post and if I may I want to recommend you few interesting issues or tips. Maybe you can write subsequent articles relating to this article. I wish to learn more things approximately it!

  27. 27 landlord insurance quote north carolina June 30, 2013 at 8:27 pm

    Howdy! I realize this is sort of off-topic however I
    had to ask. Does running a well-established website such as yours
    require a lot of work? I am brand new to operating a blog however I do write
    in my diary daily. I’d like to start a blog so I will be able to share my personal experience and views online. Please let me know if you have any ideas or tips for new aspiring bloggers. Appreciate it!

  28. 28 list of health insurance companies in new york city June 29, 2013 at 4:31 pm

    I enjoy what you guys are up too. This kind of clever work and
    coverage! Keep up the wonderful works guys I’ve incorporated you guys to blogroll.

  29. 29 affiliate clickbank June 27, 2013 at 4:48 pm

    Marvelous, what a website it is! This webpage presents
    useful data to us, keep it up.

  30. 30 forex binary options trading strategy June 24, 2013 at 8:08 pm

    hey there and thank you for your info – I have definitely picked up
    something new from right here. I did however expertise several technical points
    using this web site, since I experienced to
    reload the site lots of times previous to I could
    get it to load correctly. I had been wondering if your web
    host is OK? Not that I am complaining, but slow loading instances times will very frequently affect your
    placement in google and could damage your high-quality
    score if advertising and marketing with Adwords. Well I am adding this RSS to my email and could look out for
    much more of your respective fascinating content.

    Ensure that you update this again soon.

  31. 31 fast money June 1, 2013 at 10:49 am

    Thanks for sharing your thoughts about make money make money online how to make money make money from home
    make money at home make money fast ways to make
    money ways to make extra money how much money does a make up artist
    make ways to make money online make money on ebay make extra money easy fun ways to make money base business home internet make money online opportunity how to make
    money fast how to make money online ways for teens to make money make money on the
    internet make money real estate ways for kids to make money make money quick make money home based business make money fast for kids how
    to make money on the internet ways to make fast money adult cam
    make money web credit earn cash make money online make money
    business opportunities business free from health home home make money risk
    work home business work make money kids make money make money online business make money leasing exotic cars
    make money at home easy home business home business make money quick ways to make money make money from
    your home based business make money today make money online survey make money fast free make fast
    money online make money fast online make money flipping real estate make
    easy money easy ways to make money make money online now make money on internet
    fast kid make money ways make money blogging make money internet
    how to make extra money how to make easy money earn or
    make online money make money now make lots of money fast how to make fast
    money how to make money at home business internet make marketing money
    online make easy money online make a money tree fast ways to make money work
    at home business idea to make money online make money fast at home make money work
    at home make money at home online make money online for free make fast money adult web cam make money make money
    taking online surveys make money off real estate business home make money online make more money make money
    from home ideas make money working online make money at home easy make extra money at
    home make easy money at home make money free online
    how to make counterfeit money affiliate internet make money online program free online paid
    survey make money fast at home ch make money easy fast in make money
    property internet business make money online ways to make quick money how to make quick
    money how to make money orders how to make money from home web
    site submission program make money business opportunity ways to
    make money at home make money online fast make money
    online at home make money on the web make money online home based business affiliate clickbank make money program make quick money online make money writing make money business opportunity online make money
    quick and easy alot fast free make money make fast easy money online
    easy fast make money online business home internet opportunity make money while online how to make money on
    ebay free make money online survey how much money does a doctor
    make teenager make money work at home home business idea to make money online work at home make money surveys make money online make big money free ways to make money online make that money make big money quick easy make money fast
    from home make money online promotion site web make money being online creative ways to make money easy money for kids to make make money at home idea make money fast and easy trading online
    make money off stock market make fast cash money online surveys make money work at home make
    easy money on ebay free ways to make money how to make a money tree how to
    make money online start making money at home make money online from home make money in real estate make money online surveys make more money fast
    make money free make money with blogs make money taking online survey
    fake make money make extra money online based business home internet opportunity make money survey cash fast make money business home home
    internet make money online free easy make money quick home jobs online survey make money work at home make money working at home make money working from home ways to make money fast make money with online pharmacy make quick money make money online quick make money typing at home make money from online business easy way to make money make money online work at
    home business opportunity make money taking surveys make money completing survey online make money blogs make money internet
    marketing home based business online make money with
    rss feeds make extra money online monthly make money selling on
    ebay make money on ebay auction illegal ways to make money
    business home home make money online opportunity work herbalife business opportunity make money online
    from home business internet make money online opportunity system
    loan auction make money online sell easy fast make money way fast internet
    make money make money internet affiliate program make money lei takes money to make money to make money fast
    and easy quick way to make money make money stuffing envelopes business home make money online work from
    home internet cash make money fast make fast money online free extra make money online
    how to make more money make money online free make
    money online and work from home make money quick online money make fast internet business make money online real work at home insane online make money
    make money work at home unitedpartnerprogram com2 make
    money fast internet base business home internet make money online oppo how to make a money lei affiliate make money online
    program ways business internet make money online christmas extra make
    money fast make money online quickly free make money online survey
    employee satisfaction survey doing make money online surveys make
    money game design make money at home internet make money at home fast
    make money online and work at home using ebay
    to make money make me money now uk make money at home quick employee online survey make money filling
    out surveys make money sending emails how much money do doctors make business to make fast money based business
    home home make money online opportunity work make easy money from home earn cash make fast money cash make fast money how can i make money free surveys online to make money free
    make money online make money fast legally make money online work at
    home make money fast easy make money fun and easy make lots of money online make money playing free online games
    make money at home free make money at home uk make money business opportunity work from home income make money with google adsense teenagers ways to make money work at
    home business opportunity make income money online make free money fast make real money
    from home make real money fast make money springsteen freedom abuses garkoville make money
    taking surveys online make money while online make money selling online make money fast online home based business christian work at home
    extra make money online business doing make
    money online survey earn extra money online make money working at home free business internet make marketing money strategy web business home
    internet make money make easy money fast big easy make money ways business easy
    internet make money online zone easy ideas make money customer service make money internet
    business make money online insane income internet make marketing
    money online easy ways to make money online legitimate home business make big money online
    home jobs online surveys make money work at home internet make money online survey best way to make money home based business ebay store make money on the internet free ways to make money online survey site earn extra investment
    make money no online internet home businesses that
    i can make money from now internet make money today make free
    fast money online paid surveys make money online 3 internet business make money online work from home internet quick ways for
    teens to make money make money from surveys make money affiliate program easy
    ways to make money online best ways to make money best business make money
    online opportunity based business home idea make money online work free home based business
    opportunity to make money online business easy internet make money online zone credit based business home internet make money
    online that will can a person really make money taking
    surveys online easy home work make money car make money online selling make money from the internet make money internet free make money filling
    out survey online online employee opinion make money internet online auction make money fast for kid make money
    online by free to join surveys make money doing internet research make fast money
    bad credit real work at home internet business make money online
    scams online make money fast ways to make easy money make fast easy money personal finance
    make money money make fast easily make money with surveys marketing online internet business make money opportunity make money taking online surveys
    for free make money online with the best internet home based
    business earn make money online survey easy make money online way easy make
    money onlines college make money online ways business internet make
    money online opportunity sy make easy money on the internet alot easy free
    make money now ways credit business free home home internet make money online adult make money web cams affiliate free from home home income make money online how teens make money fast how to make money fast and easy extra ways to make money free make money online
    store internet business make money online start a home based free easy ways to make money fast fast way to make money forex make money system trading make money online
    auto pilot make money online real make money online by free to jon surveys make money from home online make money online surfing make money
    cash make money doing nothing make money online auction online
    jobs make money runescape easy to make money way to make easy money make instant cash money now
    profit opportunity make money marketing online business online survey make money work at home make money writing google ads make quick cash money make money
    with google adwords make money at home forum easy from home make money ways easy
    make money uk easy make money way easy fast free make money ways
    mandrake ways to ma cash how to make money fast make fast
    money message boards affiliate make money net online program can make money fast extra make money easy fast
    free make money ways loan learn to make money make
    a craft money tree forum make money quick internet make marketing
    money network make easy money fast online how much
    money does a lawyer make how to make money fast on runescape
    insane income internet business make money online
    insane make money marketing online make money now online business income internet opportunity make
    lots of money online based business home top make money helping others save make money off the internet make money easy at home make money by internet make money completing online surveys make money on e bay make money
    fast online internet survey home depot jobs make
    money for being online runescape how to make money make money writing for the web make quick money in bonds quick
    easy ways to make money credit ways for kids to make extra money make money with my
    computer make money with home mortgages make money on the internet online
    make money online today make money with computer make money on
    internet fast and easy free how much money do recreational therapist make easy make money now right easy ways to make
    money at home credit extra fast make money fast home make money need easy crafts to make money earning extra cash online make money paid survey make instant
    money affiliate make money our program buy cheap make easy
    money fast make money ways easy forum make money make fast easy money online credit make
    fast free money free work at home jobs best ways to make money online make fast money online legally join free
    make money online kid make money quick ways in investing
    make market money stock internet business make
    money online real work at home internet business opportunity make money online free how do i make money online free survey make money fast at home loan make
    money get paid make money investing make money fast and easy home
    businesses make money online on the make
    money in stock market internet business make money online insane income business income opportunity business home make money online work from make money
    online work jobs that make quick money make easy money
    over the internet make money at home imoms make money easy and fast
    ways for kid to make money fast loan to make money fast quick easy ways to make money in
    investing make money stock women make money online work at home business opportunity make money online online learning
    make money online income make money from home make money reading emails make money opportunity free hosting affordable online make money with
    the internet make quick easy money make real money at home make money online work
    at home opportunity make money at home nj easy ways to make
    money for kid marketing consulting easy ways to make money at home easy ways to make money on the internet loan fast easy
    ways to make money not online fast legally make money fast kid make money way easy make money
    online internet marketing promotion resource business internet
    make money onlines a easy way to make money useing the internet idea on make extra money affiliate programs
    mlm make money online home based business based business home home make money online work
    based business home make money online fast make
    money need easy jobs to make money how to make money leis how can a kid make money how to
    make money quick fast make money now loan i make money fast home job online surveys make money
    work at home how make money internet free easy ways for kids to
    make money fast make money online com free online paid survey make
    money fast at home free online paid survey make money online auction multilevel
    good ways to make money help lot make money make money fast
    without your boss make money fast pay pal make money fast free online make
    money from home easy make money from your website make money fast and make
    money online and work at home internet based business make money from home uk investing make money online
    make counterfeit money income make money business opportunities make money online gold rush make easy money forum make money and fast make
    money doing online surveys make money answering survey make money ebay way to make money online online surveys earn make money
    by filling out money cash dollar make tjana pengar snabbt fast easy online
    mlm real work at home internet business make money online springsteen make money rock music abuses
    garkoville ways to make fast money for kids xango juice business opportunity make money online health
    work at home make money online from on the interne make money writing fast loan make money with your boat in make easy money make money online uk make money
    online teen ways make money trading online 3
    make money with affiliate programs make money with prepaid legal make money with paypal make money online surf make money online work from
    home home based business can you really make money doing online survey jobs by from
    home make money online working business internet make marketing money
    strategy we canadian make money online completing make money
    online survey ebay free help make money credit easy internet make money over delaware make money online business home make money online opportunity based business from home
    make making money online working affiliate internet make money program a easy way to make
    money using the internet with i need to make money alot fast free make money credit auction make money online site based business business home internet
    make money online auction make money online sitecom
    fast make money runescape based business home internet make money online that wil how
    to make money in stock index futures by courtn how to make money fast free online how to make
    money easy how to make money in the stock market how to make money on runescape fast ways to make runescape money how to make
    money on the side how to make money day trading online how to
    make money in real estate free websites make money free home make money online survey trial work fastest way to make money fun ways to make money
    filling make money online survey how to make easy money on the internet how to make easy money from
    home for students how much money does a pediatrician
    make make money from home guaranteed make money fast uk
    make money easy fast make money hosting web site make money easy in runescape
    make money online by free to jon surveys 3 make money online in
    china make money online doing surveys make money and surveys and online and free make money in days
    lifetime guaranteed kids ways to make money make easy money at
    home credit make big money fast legitimate make
    money online ways make money online internet make easy money runescape credit make extra money for christmas make free easy money online make extra money on the internet
    make extra money from home make me money work from home make money to make money online quick ways for teen to make
    money quick and easy ways to make money in runescape2 piad survey make money online ways to
    make extra money easy ways to make money quick work from home make money online at on the internet kids make
    money online webmasters make money online fast make money now online alot fast free make
    money make money successful online business make money quick fast make money online web site loan make money surfing
    the internet make money with affiliate program mlm internet business
    make money online real work at home make serious money online make
    quick free money make money online surveys
    free make extra money home easy make money runescape ways easy make money easy idea to make
    money e fast gold make money easy way to make money at home easy way
    to make money at home loan easy way to make quick money easy way to make money online easy
    way to make money in runesc ape easy way to make money fast doing make money
    online cash earn make money online auction make money online legitimate home based business an easy
    way to make money on the internet adwords google make money keywords make money at
    home best way to make money online business easy internet make money
    online zone loan canadian free online survey site web survey tool make money buying and selling used
    cars make money part time spare business make money online opportunity based business home easy ways
    for kids to make a lot of money crazy ways to make money internet make marketing money strategy internet business make
    money online real work at home real internet business make money online mlm real work at home internet business make
    money online insane income work from internet make money internet marketing agency make money online business course
    jobs make money from home easy ways to make money from home job at home make money online and
    internet business make money online insane income insane internet investment make money no fast make money
    teen ways fast make money some fast easy ways to make money fast easy free
    ways to make money home make money online work free how to make money fast how much money does a nurse make home make
    money online working how to make money trading forex make
    money online home based business loan make money online by free to join surveys 3 make money online at home work from
    home on the internet htm make money online newsgroups 3 make money on computer make money on web make money over internet make money investing
    in websites make money playing online games make money quick and
    easy credit make money online work at home based make
    money online with affiliate program make money
    online today fast make money fast idea credit make money extra income make
    money fast online for free make money ebay store make money easy online make money quick plans make money fast online search
    make money fast without paying make money gift certificates business credit cards
    online make money guaranteed make money from home pc make money free fast make money filling out surveys online make money
    in the stock market vlibrary zip make money package power of gogle adsense make money online google cash quick
    and easy ways to make money online extra fast make money oing
    make money online survey need to make easy money to make some quick easy cash money fast top ways to make money women
    make fast easy money make money business opportunities online business ways to
    make money for kids ways kids make money ways for teenagers to
    make money money making website make money online internet marketing money make on the
    internet make money through the internet make money typing make money taking online survey.
    Regards

  32. 32 Prospect Heights Dentist June 1, 2013 at 4:05 am

    I am actually happy to read this website posts which contains plenty of valuable facts, thanks for providing
    such data.

  33. 33 chase your dreams May 31, 2013 at 5:18 pm

    Right here is the perfect webpage for anyone who hopes to find out about this
    topic. You know a whole lot its almost hard to argue with you (not that I actually will need to…HaHa).

    You certainly put a brand new spin on a subject that has been
    discussed for a long time. Great stuff, just wonderful!

  34. 34 Kara May 29, 2013 at 7:17 pm

    You actually make it appear really easy with your presentation but I
    find this matter to be really one thing that I think I would by no means understand.
    It kind of feels too complex and extremely broad for me.
    I am taking a look forward for your next publish, I’ll try to get the hang of it!

  35. 35 cheap life insurance for family May 24, 2013 at 1:39 am

    I always used to read post in news papers but now as I am a user of web so
    from now I am using net for posts, thanks to web.

  36. 36 compare the nation May 22, 2013 at 1:00 pm

    Link exchange is nothing else except it is only placing the other person’s website link on your page at suitable place and other person will also do similar for you.

  37. 37 Finlay May 19, 2013 at 6:56 pm

    Hi there everyone, it’s my first visit at this web page, and paragraph is genuinely fruitful for me, keep up posting these articles or reviews.

  38. 38 colon cleanse May 15, 2013 at 5:43 am

    I am sure this paragraph has touched all the internet users, its really
    really pleasant article on building up new web site.

  39. 39 jenniferlost127.Wallinside.com May 7, 2013 at 9:53 pm

    WOW just what I was searching for. Came here by
    searching for how to learn american english fast

  40. 40 Car Insurance In Michigan For Teenagers May 7, 2013 at 9:04 am

    Amazing! Its in fact remarkable paragraph, I
    have got much clear idea on the topic of from this paragraph.

  41. 41 Omega3 Kapseln May 2, 2013 at 11:40 pm

    It’s amazing designed for me to have a web page, which is good designed for my experience. thanks admin

  42. 42 teresadye.xanga.com May 2, 2013 at 5:03 pm

    Thanks for sharing your thoughts on graffiti creator.

    Regards

  43. 43 generationsiliconvalley April 27, 2013 at 12:47 pm

    Thanks for great feedback. BI just returned from a week in Oslo, and during that time met several startups. Their challenges were almost identical to Finland. And, to no great surprise, the most pressing concern was raising capital. Hm. I think will write my next topic on exactly this!

  44. 44 blogs.yahoo.co.jp April 26, 2013 at 4:21 pm

    Thanks a lot for sharing this with all people you really know what you’re talking approximately! Bookmarked. Please additionally consult with my site =). We may have a hyperlink exchange arrangement between us

  45. 45 Monte April 26, 2013 at 4:15 pm

    I think this is among the most vital information for me.
    And i’m glad reading your article. But want to remark on few general things, The website style is perfect, the articles is really nice : D. Good job, cheers

  46. 46 Omega 3 Kapseln April 26, 2013 at 3:39 pm

    I’ve been exploring for a little bit for any high quality articles or blog posts in this kind of space . Exploring in Yahoo I eventually stumbled upon this web site. Reading this info So i am glad to exhibit that I have a very just right uncanny feeling I discovered exactly what I needed. I so much no doubt will make sure to do not disregard this website and provides it a look regularly.

  47. 47 eBook Reader April 25, 2013 at 1:19 pm

    Very good info. Lucky me I ran across your site by chance (stumbleupon).
    I have saved it for later!

  48. 48 Mark Jarvel April 15, 2013 at 10:59 pm

    One common problem going abroad is the “we know it all” attitude. This is problem with Finnish, French, US people, British etc. To get space in new market needs a humble attitude to learn, how these new markets work, and learning that is easier with local people. This humble attitude should work both ways.


  1. 1 Lost in ‘startup’ translation: What to know before going to the US | DETart Blog Trackback on April 24, 2013 at 7:51 pm
  2. 2 Lesenswert: Gameforge, Google, Berlin, Groupon, US :: deutsche-startups.de Trackback on April 23, 2013 at 8:38 am
Comments are currently closed.



Enter your email address to follow this blog and receive notifications of new posts by email.

Advertisements

Steve Blank

Entrepreneurship and Innovation

Silicon Valley is a state of mind...

%d bloggers like this: