A beginners guide to International Expansion
Updated: Mar 14
Since 2012, when we launched our first startup, we've been dreaming about international scaling of our venture (some day in the future, and we were not sure, which startup exactly).
One of the most often discussed topic in any startup community is international expansion. For me personally, as a person who've been in this industry for a decade, I decided that there is some basic principles of a good international expansion.
First of all, you should have great investors on board. Those who will not try to convince you to sell off your company early on. Second, you should be mentally ready for really big scale of your company. This usually happens when you reach certain level of financial safety for your family. Otherwise, you'll be thinking more about safer options (such as early sell off) rather than about really fierce competition. Third, it's all about strategy and vision. No one can tell you which strategy will eventually work out. If you as an entrepreneur, are not trying to figure out it by yourself, and discussing some very raw ideas with your board instead, probably you'll get very ambiguous and weak strategy.
National first, international (or multinational) after. As in sports competition, usually it is almost impossible to win Olympic games without winning national competitions. The same in business, you can gain enough power and momentum if you win competition on domestic market.