It’s been a while since we made an episode of Finding Your Venture. We're back today to answer a really common student question from the course. Essentially the question is, “I don’t feel comfortable selling something we haven’t made yet.”
And it’s a really common thing that comes up as the team is out pitching customers.
I’m going to play this conversation I had with Bob Caspe - and I’m hoping it will re-frame yoru mindset about what’s happening in these early customer conversations. Like, what’s the point.
Remember that ‘Search Selling’ is the term Bob and I use for starting with customer conversations and working backward from there. I’m asking him how to get the most out of these customer conversations and he tells a story that shows where the value is (and where it isn’t)
My expectation for any customer pitch is that you won’t make a sale. But by pushing for one and listening to the customer’s feedback, you’ll triangulate more quickly to a better solution that a future customer WILL pay for.
The clip I played in this episode is part of an entrepreneurship class that Bob and I are teaching together on HeatSpring. It’s called “Entrepreneurial Strategy” and we’re enrolling any of our current or past students into it for free. It’s a fun excuse to reconnect with each other and with people from Babson or Michigan or wherever. If you want to join just send me a note and I will make it happen.
OK, that’s my pep talk. Go talk to some customers!
30 Aug 2021
28: Immigration Law for International Student Founders
I don't know an international student who has started a company and pursued it full-time in the U.S. after graduation.
What’s stopping them?
Well...the law. Immigration law makes it illegal for non-citizens to earn money in the U.S. except in very narrowly defined scenarios.
This the second in a two-episode series for international student founders. In the first episode, "International Students Carry an Extra Burden", we met Deepti Pandey, a talented and passionate international student entrepreneur trying to launch a business.
In this episode we're going to ask a professional to help us understand what international student entrepreneurs can (and can't) do.
Meet Mike Nowlan:
Michael Nowlan is a Member at Clark Hill in Detroit. He represents companies and individuals as they navigate the complex U.S. immigration system from the initial transfer/move to the U.S. to U.S. citizenship. This includes assisting clients as they process with U.S. Consulates as well as immigration agencies located in the U.S. He advocates for foreign national rights before immigration officials on a regional and national level.
This episode is an immigration law primer for international student founders.
Here are some topics we cover (and the approximate time stamp where it happens):
F-1 Visa - 3:40
Optional Practical Training (OPT) - 3:45
STEM OPT - 4:26
H-1B Visa - 6:26
TN Visa - 11:35
H-1B1 Visa - 12:00
E-Visa (E-3, E-2) - 12:06
O-1 Visa - 14:38
Green Card - 15:10
What do visas cost? - 19:05
Is fundraising OK? - 22:00
What corporate entity is best? - 23:00
Ok to form company with uncertain status? - 24:00
Ok to work at my startup as side hustle? - 24:50
OK to run U.S.-based company remotely from home country? - 25:44
Day trading & definition of 'work' - 27:00
Music: "Muy Tranquilo" (Gramatik) & "Open" (Moby Gratis)
25 Aug 2021
27: International Student Entrepreneurs Carry an Extra Burden
International students make up about 15% of the student body at the University of Michigan.
They bring interesting new perspectives from 50 countries around the world to our little midwest city. They pay higher than average tuition and in my experience they are some of the most dynamic, interesting contributors to our entrepreneurial community.
The problem for entrepreneurship educators is that US Immigration laws make it really hard for international students to start companies, and the rules change all the time so the university doesn’t give them the legal advice they need. We basically tell them to get a job because it’s safe.
So at the Center for Entrepreneurship we’re training them to do something that is almost impossible.
In this episode you'll meet Deepti Pandey.
She’s the founder of EquiHome and someone I know is destined for success. She’s outgoing, curious, and smart. And she’s done and seen a lot for someone so young.This is the first episode in a two-part series for International Student Entrepreneurs.In the first episode we meet a talented and passionate international student entrepreneur trying to launch a business.In the second episode - "Immigration Law for International Student Founders" - we talk to an immigration and employment lawyer about strategies international students can take if they want to build their company in the U.S.Photo: Nareeta Martin on UnsplashMusic: "Muy Tranquilo" (Gramatik) & "Open" (Moby Gratis)
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