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Acknowledging the need to expand beyond its immediate borders, the startup team sent several ambassadors to California as a first step toward achieving this global reach. Timo explains why the United States is the logical first target. The United States has more venture capitalists and angel investors. The more companies there are, the more concentrated they become, which becomes a better learning base. Not only were Timo and his team able to invest more capital but they also gained a wealth of knowledge from an experienced and globally aware community. Being able to get their products into the hands of the right people by joining accelerators such as these help companies enter the early adopter circle of innovative SMEs and key industry influencers.

While this was a wise decision early on it certainly came with its share of hurdles and mistakes. Timo and the team learned many valuable lessons the hard way by figuring out what not to do. The Global Growth Challenge teaches how to survive and grow Email Marketing List Sustainable and scalable growth is the goal, but how fast is too fast? Businesses looking to expand globally from the outset will struggle with this question. Alumni say that while rapid global expansion of a company is good for PR, there are some important considerations that should not be overlooked to ensure that you perform well in the city or country where you initially launch and deliver on your sales proposition.



While staying local and focusing on a single country strategy can reduce the risk of a startup losing focus, many startups should consider globalization early on because staying local and siled comes with the risk of losing significant market share and growth opportunities targeted increases, so does the risk of incorrect product positioning. Salespeople know that understanding their customers is the key to closing the deal. To reach your goals globally you will almost always need to tailor your pitch to each unique audience. A new global market meant new standards and expectations. Before the team could think about pitching their product to consumers, they had to pitch their plan to a group of venture capital representatives with a very different mindset.