Why build a global business from day ONE?
Before we begin, I want you to look at the following statistics closely:
- At the start of 2013, nine out of the top 10 internet properties in the world were based in the U.S. (think Google, Facebook, etc.), but 79% of their users were international.
- A year later, only 6 of the top 10 were in the U.S. and 86% of their users were not.
- The trend in mobile is even more staggering. 188 million smart-phone users are in the U.S. but the growth rate is only 12% year over year.
- Internationally, there are 1.6 billion smartphone users and the growth rate is 24% year over year.
The opportunity cost of not internationalizing is stark and it has recently become apparent.
A lot of you might be thinking that it is way too early for us to think about it! And that’s where you begin to lose the edge as others do. The investment you make to start thinking about internationalisation is fairly minimal. On the other hand, if you want to fit into international expansion years later, it can be pretty painful.
Benedict Evans from Andreessen Horowitz has shared a lot of data about whether and why ‘this time is different’. But beyond that, why is the tech market opportunity larger than any time in history (no, really!)? One word: mobile — tech is outgrowing the tech industry.
A clever person solves a problem. A wise person avoids it — Albert Einstein
In this case, the wise thing to do is avoid the swamp of delayed internationalisation.
I believe you can amplify your chances of going global right the first time around if you:
- Lay the foundation from the moment you start your company, it’s never too late!
- Launch internationally with an owner, a strategy, and a plan
- Apply some key principles and best practices from the founders/ businesses that have understood the local market
HelloMeets is taking extra care to make sure that each of the International Entrepreneurs Series you run into the best of international founders who are eager to help each other succeed. We will also have an experienced founder share his or her international expansion experiences. Hope it’s fun and you learn trade secrets that you can immediately start applying to your own startup.
See you guys soon!