Tuesday, November 4, 2008

Can startups think internationally?

Is it sensible for a startup to think of international markets? The answer of course depends on the startup. However, it certainly should not be ruled out. Increasingly workforces are becoming international and these international employees bring with them a wealth of experience and contacts. While overexpansion will lead to collapse, finding the right market and the right niche can put a company ahead of the curve.

What kind of questions should startups ask themselves?

Have we properly identified which of our employees' experiences and contacts may lead to a worthwhile business decision?
Having recognized these contacts, have we got an approach strategy?
Have we a strategy to prioritize results?
Along with these questions, startups need to examine their resource constraints more closely than established companies. This is where recruiting of the right (usually multiskilled) entrepreneurial and visionary personnel is important. I believe that if a startup is aware of key international developments in their general sphere, the right international link could help them be vastly ahead of the curve in the next decade. If we want to see current examples of such forethought, look at those companies which first foresaw a massive growth in India's IT capabilities.

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