Lean Internationalization® - how to expand to international markets without breaking the bank
Transcript of Lean Internationalization® - how to expand to international markets without breaking the bank
LeanInternationalizationByKatapultGroup
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Agenda
• 9-9:45:Welcomeandintros• Including:Expectationstotheworkshop?• TopofmindquestionsandfearsregardingtheUSA?
• 9:45-10.15:CharacteristicsoffirmsthatsucceedintheUSA• 10.15-12LeanInternationalization• 12-13:Lunch• 13-18Individual30minsessions• 18-18:30Wrap-upandevaluation
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Whatwehopetoachievetoday
Whatwewanttodeliver:•Sharetherelevantpartsofourmethodologysoyoucaninternationalizemoreefficiently•Educateyousoyouknowthemostcommonpitfallsandtrapstoavoid•HelpcomeupwithconcretenextstepsforassessingandsmartlyenteringtheUSA•ProvideinputtoyourUSstrategy(ifyouhaveoneyet)
Ourcontexttodaywillbeonthepre- andearlystagesofyourUSexpansion
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PitfallstosuccessintheUSA
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Biggestpitfalls• LackofExecutivebuy-inandsupport• Lackofsupportfromthehomeorganization(ex.Techsupport)• Lackoffocus• Everythingvsonesstrengths• Allsegmentsvsperfectcustomer• AllUSAvslogicalscope
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Biggestpitfalls• Emphasizingthewrongthingsatthewrongtime• Teamisdoingmanynon-importantthings• Non-competitiveprice/value• Thinkingtheproductwillsellitself• Forgettingthesoftaspects
NotetheSupportinginformationsectionforcharacteristicsonfirmsthatsucceedintheUSA
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LeanInternationalizationUsingLeanBusinessBuilding®tointernationalizeyourfirm
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KeyprinciplesofLeanInternationalization
• Continuouslyrankandtestthebiggestrisksassumptions• Doonlythemostnecessarytoachievetheabove
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BenefitsofLeanInternationalization?
• Primarybenefit:Acceleratetimetocash-flowpositive• AcceleratestimeittakestodefinetheattractivenessoftheUSmarket,i.e.Govs.No-go• EntertheUS-marketatatfractionoftheinvestment• HigherchanceofsurvivingYearOneintheUSA• Strongerfoundationandincreasedoddsforlongtermwinningbusiness
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Groupwork
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Individualcompanysessions
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Wrap-up
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HowtocontactusViaphone:+1.844.528.2785Viaemail:[email protected]:@katapultgroup
Supportinginformation
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CharacteristicsoffirmsthatsucceedintheUSA• Segments:• Understandswhotheirperfectcustomeris• Focusonnicheandexpandfromthere
• Product/Servicecharacteristics• Stronganddifferentiatedalongonerelevantcompetitivedimension• Strongprice-valuebalance• Focusisonsucceedingwithonesolutionbeforeexpandingtheportfolio
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CharacteristicsoffirmsthatsucceedintheUSA• Organisationandteam:• USAmarket isapriorityfortheCEOandBoardofDirectors• USAleadpersonisoneofthecompanyfounders oranexecutivewith5+yearshistoryatcompanyanddeepandtrusted rootsacrossthehomeorganization
• 24/7attitudewithanabilitytoexecuteontheplanbut learn,changeandadapttofindproductmarketfit
• SeestheUSmarketasamarathon,notasprint.LongtermtheUS-market isconsidered a“must”
• Dedicatedpersonchampioningandsupporting theUSAmission inthehomeofficeonadailybasis
• US-Founder =Heavilychargedwith customerengagement• Recruitshelp/Outsources lessvalueaddedactivities includingadmin,book keeping,etc.
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CharacteristicsoffirmsthatsucceedintheUSA• Financialsandfunding:• Wellfunded, financialrunwayfor24-36months
• Extremelyleanoperationuntilproduct-marketfithasbeenfoundandcansupportscaletheUSA
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Operationsandpeople:• USleadershipandtheoperationreceivesextraordinaryamountofvisibilityandpriorityathomeintheinitialyears• HigherdegreeofinteractionbetweenHQandUS-marketoffice,I.e.meetings,visits,calls,other• Emphasizecustomerengagementpre- marketentryandcontinueputtingsalesastheprimaryactivityduringgrowthofthefirm• Focusisonsmallandfrequentwinsthroughoutthecompanybuilding
CharacteristicsoffirmsthatsucceedintheUSA
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