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Many of the success factors applied by Silicon Valley technology start-ups can also be applied to
increase the chances of success for other entrepreneurs, and to encourage effective entrepreneurship in
traditional and large organizations. There are many goals and activities that are common to both start-
ups and traditional companies, such as:
Defining and Communicating a Clear Vision for the Organization
Innovating New Technologies and Business Models
Recruiting Expertise/Enhancing Competency
Motivating and Incentivizing Team Members
Creating Value and Satisfying Customers
Establishing Clear Identity and Brand
Securing Sponsorship (Attracting Investors)
Achieving Benchmarks and Communicating Progress to Shareholders
Staying Ahead of Competition
Becoming/Remaining Profitable--Maintaining Cash Flow
Returning Value to Shareholders (Defining an "Exit Strategy")
Successful Silicon Valley start-ups provide a unique road map for how to thrive in the new
economy. The Italian Renaissance brought Europe from the Dark Ages to a new era of innovation and
opportunity on many different levels. Similarly, the Silicon Valley phenomenon has ushered in a new
era of creative thinking that is transforming the world of business and technology.
Success Factor Modeling
The Success Factor ModelingTM(SFM) process was developed by the authors (Robert and John
Dilts) as a method to identify and transfer the critical success factors necessary to promote the growth
and development of emerging growth technology companies, and to help them be maximally prepared
to create, recognize and take advantage of opportunities when they arise. With nearly thirty years of
combined experience in advising both multi-national corporations and emerging growth technology
companies, the authors have extensive expertise in defining the necessary strategies, and in providing
substantive instructional strategic advice for success in the increasingly competitive global marketplace.
Over the past decade, author John Dilts has worked with entrepreneurs and founders of emerging
growth companies in the area of venture law (for firms such as Wilson Sonsini Goodrich & Rosati and
Venture Law Group) and as a Managing Member of an early stage investment fund (IPF Fund,
L.L.C.). Author Robert Dilts has twenty years of experience as an international management
consultant and trainer (for such companies as IBM, Fiat, Hewlett-Packard and The World Bank), and
is an expert in the process of advanced behavioral modeling.
The authors have combined their skills and backgrounds to create a set of principles and
distinctions which are uniquely suited to analyze and identify crucial patterns of business practices
and behavioral skills used by successful individuals, teams and companies. The authors apply the
SFM process to identify the critical success factors employed by successful entrepreneurs and
emerging growth companies so that other companies may learn these strategies in order to facilitate the
same level of success. With Success Factor ModelingTM, it is possible to define specific models, tools
and skills that will allow entrepreneurs and their companies to greatly increase their chances of
success, and which will allow traditional companies to stimulate and support innovation and
entrepreneurial spirit within their existing organization.
One of the strengths of the SFMTMprocess is its integration of effective business practices with
important behavioral skills. Benoit Sarazin, Marketing Manager for the Communications Solutions
Services Division at Agilent Technologies, points out, "Many methodologies exist to help people with
effective business practices. If you go to a library or bookstore, you can find all types of resources for
making business plans, forming marketing strategies, protecting intellectual property, etc. But there
are no methodologies for the behavioral skills. This is what makes Success Factor Modeling totally
unique."
Success Factor ModelingTMtakes into account multiple levels of behavioral factors related to
success:
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