Grow | How to Scale Globally Without Sinking

 Grow | How to Scale Globally Without Sinking

How to Scale Globally Without Sinking

“When entering a market, you have to appreciate and understand the business culture of the country you are entering.” — Dhaval Gore, Head of Mayor’s International Business Programme at London & Partners

Scaling globally can be a challenge for many companies. Before embarking on the quest of business expansion to new countries, you have to take the time to analyze, plan, assess, and learn about the market you are entering.

In this session of the PANGEO Conference moderated by Jess Dodge, Vice President, Revenue at Globalization Partners, Rick Pizzoli, Founder and CEO at Sales Force Europe, and Dhaval Gore, Head of Mayor’s International Business Programme at London & Partners, discussed their insights, experiences, and best strategies for successfully scaling a business globally.

How can companies get expansion right?

Gore explained that you can take a number of approaches to international expansion, but having a strategy, an evolving game plan for the market or markets you are entering, and a precise and detailed plan is key. He also noted the importance of segmenting your customers, understanding the price of your products or services to develop a pricing model, and seeking expert advice when necessary.

Pizzoli mentioned the importance of analyzing who you are as a company, your history, where you add value, how you generate leads, your competition, your structure, and what revenue you have in your home market. This can help you map a structure that is revenue focused in your expansion markets. 

Dodge added that getting expansion right starts with deciding whether you want to navigate the complexity of setting up a subsidiary, or partner with an Employer of Record to facilitate the entrance to a new market.

How can companies scale their sales teams quickly and effectively?

Pizzoli remarked it all starts with sales planning — define your customer type, your target countries, your revenue targets, and how you will deliver your sales strategies. With these elements in mind, you can decide whether to hire directly, open an office, hire through an Employer of Record, or use a sales outsourcing company. In the remote work era, you can hire fully dedicated sales teams, regardless of where they are and what contracts they’re working under. What truly makes the difference is the ability to sell as a team — this means having a common strategy, clear objectives, and established metrics.

“Planning starts with an analysis of where you came from, verticals you sell into, and where you have the best product market fit. Document your ideal customer and focus on that niche during your international expansion launch.”— Rick Pizzoli, Founder and CEO, Sales Force Europe

 

How can companies build a successful international go-to-market strategy?

Gore’s main advice was to seek advice. There is plenty of support from organizations, local governments, partners, and experts that can help you with basic considerations. His other recommendations include building a network in your market and internationally, analyzing the markets you want to enter, researching your target audience, and securing the funding — all of these are essential to any go-to-market strategy.

Pizzoli emphasized the importance of patience, because scaling globally is a process that requires time, resources, and making mistakes, so it is important to plan for the future and acknowledge that you won’t see results in the short term.

What are the most common pitfalls you are seeing when it comes to scaling globally, and what advice can you give companies to navigate them? 

Pizzoli explained the number one mistake he sees is poor planning, followed by unrealistic expectations, and going after too many verticals. Therefore, it is essential to elaborate a detailed plan based on your company’s previous experience and facts, and most importantly, focus efforts on less verticals at the beginning.

Gore states that for him, the worst mistake is not being able to appreciate the business culture of the market you are entering, so understanding and valuing the local culture is key to successfully scaling globally.

Before the end of the session, Pizzoli shared some strategies to hire a remote global team. He said defining the profile you are looking for is key — the culture, language, budget, and expectations. Once you have that definition, you can work with partners and recruiters to find your talent. Gore added that the best countries to find skilled labor are Berlin, London, New York, and Tel Aviv.

What we learned:

  • Detailed research and planning is essential to successfully scale your business globally.
  • When scaling globally, the best you can do is seek advice from other organizations, partners and experts.
  • Understanding the culture of the marketing you are entering is essential to scale successfully.

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