How to test the strength of a business model before placing a startup on the international market?
Updated: Jan 27
Hi, Goglobers! The first business breakfast with Skolkovo was fiery in terms of content!
There are just a couple of quotes here so we highly recommend registering for the next two events here if you haven't made it yet!
Yaroslav Yaroslavsky, UpSwot, co-founder spoke about the non-standard way of development for startups through non-venture investments. Through grant programs and accelerators in the countries, you intend to enter the market for. This approach gives you the opportunity to access local expertise, connections, and clients.
Mikhail Chernyshev, Dodo Pizza, Marketing Director spoke about the importance of adapting a business model and product to the local markets of other countries and the inspiring story of how global thinking and faith can move a company from a small basement in Syktyvkar to the international market! Once again confirming that globality is not the size of a business, but a way of thinking.
Roman Kumar Vias, founder of Qmarketing agency and co-owner of Qlean shared an interesting and voluminous case on how they entered the American market. They were very surprised when they decided to simply translate their website and show their target audience, to which they said that this does not cause any confidence and they had to radically redo everything. Therefore, the first thing Roman recommends to do is get to know your audience very well! By conducting in-depth interviews, for example. By the way, the respondents can be found on Reddit, Respondent.io, the Slack community, and Russian-speaking local groups in the FB, and those, in turn, will tell you where to find target respondents. Well, Linkedin, of course. They have Linkedin Helper - which helps to find people according to certain criteria.
Amir Akhmetov, CEO of Tactise, PGS2 alumnus spoke about why he prefers to be in a startup state and constantly focus on change and the importance of corporate culture. For example, in his company there is a stable rule – if something fails 20 times, we try 21 - If the goal has not changed, you need to look for other solutions. And at meetings the rule is - speak up and take responsibility or get out. At the same time, it is important to encourage any initiative, even if in the end the collaborator did not succeed.
Danil Kislinsky, Founder of the international community Go Global World gave an inspiring speech about the mission of our community and the importance of each person in it and answered questions about the metrics of a startup's readiness for the global market. Among which the key points he noted are understanding of your target audience and good performance of unit economics. At the same time, you do not need to wait until your product is perfect, you can always modify it along the way.
Diana Kayumova, Executive Producer of Practicum Global Shift and Content Designer Exporters 2.0 told in detail at what stage of development, where to go to study, and why. Where is it better to go for the mindset, for the strategy and action plan? She also shared cool recommendations for books for development in the direction of go global:
Erin Meyer "The Culture Map";
Nir Eyal "Hooked" – How to Build Habit-Forming Products;
Geoffrey G. Parker "Platform Revolution"– How Networked Markets Are Transforming The Economy. And How To Make Them Work For You;
Ming Zeng "Smart Business" - What Alibaba's success reveals about the future of strategy; Hermann Simon "Hidden Champions".
Please share your opinion about the meeting, if you were there, we are very interested in your point of view! What was interesting and what notes did you take from the event?