As a startup, focusing on one market and maximizing its potential is ideal. If international expansion offers higher revenue per customer and a larger opportunity, it can be considered, but aim to minimize risks. In addition to market research and TAM analysis: * Identify & partner with a complementary local vendor in the new market – Helps you penetrate the market, gain access to customers, and reduce the risks of managing international operations. *If your product is digital, run a curated pilot program from your current location to gauge market reception before a full launch. *Conduct workshops to gauge product/service demand – Face-to-face interactions with customers can provide valuable insights to guide your expansion decision.

Expandir una startup o empresa a nivel internacional implica navegar el delicado equilibrio entre riesgo y beneficio. Es fundamental hacer una investigación de mercado profunda y comprender las particularidades de cada país o región antes de lanzarte. Evalúa los riesgos en términos de regulación, competencia y barreras culturales, pero también identifica las oportunidades que pueden ofrecer mayores beneficios a largo plazo. Empieza por probar en mercados más accesibles o menos volátiles, y ajusta tu modelo de negocio en función de los aprendizajes. Mitiga riesgos a través de alianzas estratégicas locales y y adáptate rápidamente a los cambios. Una buena planificación, lo es todo.

To find the optimal balance between risk and reward when expanding internationally, start with thorough market research to understand local demand, competition, and regulatory environments. Conduct a SWOT analysis to identify strengths, weaknesses, opportunities, and threats in each target market. Consider entering through partnerships or joint ventures to mitigate risks while leveraging local expertise. Develop a phased approach, testing your product or service in smaller markets before a full-scale launch. Monitor key performance indicators closely and remain adaptable, ready to pivot strategies based on real-time feedback and market conditions.

Expanding your business implies a complete strategy, from risk analysis and decisions on business capabilities to key milestones and communication dynamics between the primary and secondary functions. The key players must be aligned with the business vision and supported by change and transformation managers. ??

To find the best balance between risk and reward when taking your startup global: Carry out comprehensive market research and analyze regulations to pinpoint potential risks. Evaluate your financial and operational capabilities to establish acceptable levels of risk. Focus on building strategic partnerships and leveraging local expertise to reduce risks. Keep an eye on evolving market conditions and adjust your strategies to enhance rewards.