As sales increase, most founders tend to double down on what already works to keep growing. But few consider expanding laterally — taking a business model or product that already works and bringing it to a new geographical market. After all, it can seem like a risky move at first, as customers often differ drastically culturally and socioeconomically across borders.
Despite their core differences, people around the world inevitably share many of the same pain points in their daily lives and while doing business. Sure, you might not be able to tap into your domestic relationships, keep your existing go-to-market strategy or even reuse your messaging while entering a new market. But that’s why expanding internationally is hard and something few founders can do well.
When I first started Deltapath, we focused primarily on the U.S. market. But since 2001, we’re now serving customers in 94 countries.
Each time my team expands to a new market, we consider four primary factors before we launch. These considerations will help you avoid costly hurdles and allow you to achieve the best results possible without having to reinvent the wheel with every new launch.
How do culture and market viability differ?
Written by Walter Thompson
This news first appeared on https://techcrunch.com/2020/02/10/4-factors-to-consider-before-entering-international-markets/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29 under the title “4 factors to consider before entering international markets”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
