How to Market Tech Products and Services
Listen to the full interview from KNCO radio above.
Here are just a few things Barañano discussed in the interview:
Barañano discussed that his workshop will be about businesses selling to big businesses, and how to get a really large sale. The talk will focus on new technology. Barañano related, "Selling new tech is a very different thing than selling window washing." He will cover how to do it, who to contact, how to get trials, and more.
Selling a Startup for 3.2 Billion Dollars
When asked about selling startup tech for 3.2 billion, Barañano related, "That's the kind of event that changes your life." Barañano went on to explain how he worked with his friend, who was the CEO of a tech startup. "It was a startup...(that) had technology that allowed them to control teeny tiny mirrors with great specificity, and we tried to figure out what we could do with that. We ended up developing an optical switch; telecommunications companies that had fiber-optic cables everywhere needed a switch that could deal with just light, not electronics... We sold that technology...to Nortel."
The Good Fortune to Work with Geeks
At one point, the broadcaster asked, "Do you consider yourself geeky, Gerry?"
Barañano laughed and replied, "No, absolutely not! I'm not geeky in the least. I've had the fortune of working with a lot of geeks! My background is actually psychology from Yale University. Now I do mostly sales and marketing in my professional life."
Technology Ideas are Limitless
Later in the interview, the broadcaster asked, "Is there a limitless amount of ideas out there that might make it big?"
Barañano replied, "I think there are, I really do. One of the wonderful things about my job at the Tech Futures Group is that we accept applications, eight to ten a week, and we ask people to describe what they have. We do some internet searching to see if we'll accept them into the program, and I'm always astounded by how much really cool stuff (there is) that no one's ever thought of out there."
Taking New Tech to Market
A broadcaster asked how Barañano's company, the Tech Futures Group, helps startups take products and services to market. He answered, "Mostly what we help them do is prepare for funding. We make sure they have the right team in place, they have the financial model, they know their market and who to approach... We also help them get grants from the government, and we've been very successful with that."
One of the organizations that awards government grants is Small Business Innovation Research (SBIR), with grants ranging from 225-thousand to one-million dollars.
Barañano talked about the services offered by the Tech Futures Group: "We don't take equity, and we don't accept cash. It's 100% free to the startup."
The company, which is funded by the Small Business Administration and the State of California, works with about a third the of startups who apply. Barañano said, "You apply online—it's free. If we like what we see, we pair you with an entrepreneur in residence...they provide CEO-level type of advice. And then we bring in our specialty advisors, who are also free." Barañano said that one in three of their applications get grant funding.
Bring Your Ideas and Questions on Nov. 20th
Barañano closed by saying, "I always think it's a good day if I learn something new. And when I get applications and talk to new clients, it's a great day."
If you are interested and would like to learn more, please bring your ideas and questions to the Nevada County Tech Hub on November 20th. The event is free, and there will be light refreshments. For more info and to RSVP, visit the Nevada County Tech Connection's website.
And stay up-to-date with the NC Tech Connection on their LinkedIn Company Page.
KNCO interviewed Gerry Barañano on November 7th, 2018, about his event with the Nevada City Tech Connection, "Grow Your Sales: How to Land Large Corporate Customers" on November 20th, 2018. The audio clip is shared here with KNCO's permission;
KNCO reserves all rights. The original URL for the recording may be found at https://knco.com/online-audio/podcasts/latest-podcasts/?file=2018-11-07_22-06-01_1PM2PMIN.mp3&category=latest.