Chui Chui Tan is an International Growth Adviser and Culturalisation Strategist who has worked with big brands like Spotify to ensure they have successful market expansions. I spoke to her about some important issues around internationalisation, global market expansion, and some of the pros & cons of different approaches.A message of support
I recently found out that my former leadership coach has been diagnosed with terminal cancer. Tracy helped me through some tough times, and helped me improve in various areas. I'm grateful to her to this day.
Tracy's friends are trying to raise funds so that she can enjoy some final experiences with her family, and leave behind fond memories for after she's gone. If you'd like to donate anything at all, please visit the link here.Episode highlights: 1. You should start thinking about international growth before you're ready for it
You don't need to overengineer from the start, but you do need to make sure you have flexible building blocks in place so that you're not starting from scratch when you do want to expand.2. It's not good enough to just translate text - you have to understand the cultural context
Countries aren't defined solely by their languages - they have different currencies, different date formats, and different norms - you can't just do "International Spanish" and be done.3. There's a framework to help you choose the best markets
You can map potential market size & return on investment against efforts required & ease of entry to help you decide where to prioritise. You'll be working off imperfect information but it's important to think it through.4. There are two main ways to go into other markets and both have pros and cons
You can sell to local companies with global offices counterparts or you can set up an organisation/partner in other countries. They both have pros and cons and it's important to be intentional.5. Going into unpromising markets is OK but start small
Sometimes, big whale customers or globally-minded investors will heavily encourage you to get into a market you don't really want to go into. This is OK, but it's important to take an MVP approach rather than go all in.Contact Chui Chui