When is the right time for a startup to start expanding globally?
The answer varies. Some startups believe that one should focus on strengthening the foothold in the home market first, where everything is familiar and within reach. Because who knows better about the local market than a local company, right?
While the opinion is not wrong, there are several good reasons why a young startup should consider international expansion –and showcase their ideas on a global platform– since Day 1.
Consider these reasons:
Sure, it is good to be in a familiar situation. It might also give you a greater chance to succeed. But then how can you and your company grow? Even if you do not succeed at first attempt, going global will give you so many great lessons to learn –that will prepare you for the next part of your entrepreneurial journey.
It can help you develop products better
Going global requires market research, and eventually, localisation. The research process allows you to learn more about your new market, and often, your own product. You can create a stronger, better product with more insights about the different type of users there are.
This part seems a bit obvious, but the wider your audience, the bigger your prospect is. Who does not want to be a major player in the region? Why stick to just one market when you can have the whole continent?
Now that you have your mind set on going global, the next question will be: What is the best global platform for young startups to showcase their ideas?
The answer is 2020 TOP100 APAC.
As part of the annual Echelon Asia Summit, TOP100 is a curated programme designed to discover, showcase, and accelerate the next generation of up-and-coming startups.
The programme consists of qualifying rounds that are set to be held in six Southeast Asian cities in early 2020, followed by the Echelon Roadshow events.
Registration for TOP100 is now open and we are looking forward to seeing your startup on the list!
Source: e27
