Lemon #28. When to internationally
While reading the Balderton B2B Sales Playbook, I learned about when it’s the right moment to go internationally:
- Often SaaS businesses time execution of their internationalisation plan when approaching $200k MRR. But first you need to have the cash to enter the market so plan for this when fundraising.
- Then you need some support, especially from your board and investors – surround yourself with people who share your ambition and can empower you to think big.
- Your product should be ready and the HQ should be prepared for the change (devs, support, etc)
- A SWOT analysis can help to maximise strenghts and opportunities and better caveat weaknesses and threats. This will also help set up tactics and budget correctly to launch a new market successfully.
- Be aware of potential quick wins (existing live opportunities, analytics on traffic, customers having a network in new market for referrals, etc)
- Having a global mindset is key. So have that in mind from day 1.
- Put in place all the elements to succeed (hiring the best executives, raising from the best investors, building the best possible board, continuing to build the best product and service)
Going global @ The Balderton B2B sales playbook.