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EVENT | Startup&Angels Lyon 2023 | 7th June 2023
Unleashing Startup Success: The Keys to Going Beyond Borders
Going international means major changes for all start-up companies.
If you’ve always wanted to develop your activity abroad and get out of local markets, this blog post will answer your question.
The launch of Startup&Angels in Europe was a success filled with meetings, opportunities and advice to go global!
Attendees had the opportunity to learn more about globalization, and meet the key players to make it happen.
Three start-ups shared their activities and ambitions: Treely, Safehear and Drilllight.
So, do not hesitate any longer and join our community now !
The evening was enriched by players who have already successfully developed their business abroad:
Daniel Doppler, founder of Quicktext and a panel discussion featuring entrepreneurs such as Stéphane Ronteix founder of Floween Group, Stéphane Couleaud founder of Webmecanik and Leo Denes founder of Australiance.
They shared the strategies for going global that have worked for them.
The panel’s central question was: “What are the key strategies for achieving successful international growth and financing?”
Terms like conviction, confidence and desire were central to their discourse.
Let’s take a look at the key points you need to remember to expand internationally.
The first questions:
Before going global, you need to ask yourself the right questions to find out if you’re ready:
1- English is the key to international expansion. If you can’t communicate abroad, you won’t be able to develop your business internationally. If English is not your native language, you can’t be afraid to speak English on the phone.
2- You need to be eager to move beyond your local market. International development requires a lot of hard work and changes in the way you work ( time zone differences), so you have to be determined to do it. With desire comes performance.
3- It’s always better if you’ve already had international experience because you know how it works and the aspects that can change. You need to be sensitive to other cultures to know how to deal with them. This is a key point if you want to succeed in foreign business.
What country?
Once you’ve made up your mind, it’s time to choose the country where you want to develop your business.
This aspect is different for everyone. Several panelists didn’t even choose the country, either because their partner came from a particular country and so naturally the business developed in that country, or because by trying to develop the business and doing research, they realized that it was more profitable to develop the business in one country rather than another.
Sometimes, people in a particular country aren’t sensitive to the product you’re proposing and the problems it solves. They may not have that problem. You can also choose a country based on the branches of your existing customers. Let’s say you’re working with a company in France that has a branch in Australia. It makes sense to expand in Australia, as you’ll already have a customer there with whom you can continue to develop the business. This will enable you to find new contacts and customers.
How to secure funding?
Once you’ve found the right country, it’s time to get financing – but how?
You can rely on your own funds. Otherwise, there are a number of different forms of assistance available to companies abroad. The best-known is the BPI, which helps companies grow abroad by helping them find financing. You can also rely on your partners for indirect investments or external acquisitions. The advantage with partners is that you already have their trust, so you can secure financing more quickly and over the long term.
Challenges abroad:
It doesn’t stop once you’ve developed your activity: there are many challenges you’ll have to face.
First of all, time differences are one of the main challenges. You’ll never work in the same way again. You’ll have to adjust everything to the time in the other country: set up schedules and meetings that suit everyone.
Customer relations will also change completely. It’s very complicated when you’re at a distance, because constant communication by email, several hours apart because you’re not in the same time zone, doesn’t allow you to create a strong relationship with your customers. Therefore, it’s best to maintain a physical presence in the right time zone.
If you’re interested in going global and still have questions, don’t hesitate to send us a message at: startupandangels@australiance.com and join our community on Startupandangels.com so you don’t miss any upcoming events!
THANKS TO OUR SPONSORS
A heartfelt thank you to our sponsors for their faith in us all year round. We would not be able to deliver amazing events and opportunities for our exceptional members without your support.
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