WHEN A CARVE-OUT CROSSES BORDERS: CAPTURING VALUE …
Transcript of WHEN A CARVE-OUT CROSSES BORDERS: CAPTURING VALUE …
WHEN A CARVE-OUT CROSSES BORDERS: CAPTURING VALUE AND RETAINING GOOD PEOPLE
Your Global Sales StrategyThe increased growth that comes with international expansion – or a larger total addressable market – can dramatically improve a startup’s long-term outlook.
But even if most startups don’t rise to become billion-dollar companies, expanding internationally helps companies grow more rapidly and improve their likelihood of long-term success.
A recent survey of top global leaders by PwC showed that 45% percent of CEOs said they were shifting their supply chain strategy, and 25% said they were considering new territories.
(PwC, 22nd Annual Global CEO Survey)
A company needs to preserve its business momentum. Software and online-services companies that successfully moved from $100M in annual revenue to $1B were able to maintain rapid organic-revenue growth at 31% a year (McKinsey).
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THIS GUIDE WILL HELP YOU BUILD A STRATEGIC PLAN TO ENTER NEW MARKETS
For many organizations, going global can bring new markets, fresh revenue streams, high returns on investment, and opportunities to revitalize product development.
Global expansion strategies can also make growth more structured and sustainable. When appropriately composed, these plans mitigate expansion risk and encourage efficient use of resources, timelines, and capital for global expansion.
International growth is a marathon, not a sprint. A methodical go-to market plan is critical in ensuring that your organization is set up for success.
Determine Where to Go – and Why
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Once this has been determined, it is time to get this in writing…
To decide where to expand first, analyze the following:
What organic interest levels are you getting from the countries you are looking into?• Partners reaching out to you
• Inbound leads coming through
• Existing customers using your product/solution for their global teams
What countries have the highest number of keyword searches for your top campaigns?
What is the competitive landscape for your product in that market?
Would you be a first mover into this market?• Is your team set up to handle educating the market as a first mover, or competing
for share of voice with other players?
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Prepare to step onto the world stage
MARKET READINESS CHECKLIST
Product ReviewProduct offering is ready
Pricing structure
Local language requirements
Data privacy/security
Competitive AnalysisBattle cards are ready
Key differentiators
Pricing and positioning
• What research has been done around pricing
in the new market?
• Will you need to reduce/increase pricing to
be competitive?
Ideal customer profile
Market AnalysisThere is growth potential
Market size analysis
State of the economy
Market channel research – how do people expect to buy?
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Set clear and realistic goals to measure success
GO TO MARKET BUSINESS OBJECTIVES
1. Expansion Timeline and Location
Target date of expansion
Region to cover
Employee location
Employee role
2. Expansion SumaryYour expansion summary should answer questions like:• Why are you entering (Country)?
• What is the market opportunity in (Country)?
• What is the ease of doing business in (Country)?
3. Expansion ObjectivesYour expansion objective summary should answer questions like:• What KPIs will you be measuring?
• How are you defining success after 3 months, 6 months, 1 year?
Website Traffic
Inbount Leads
Target Account
Partnerships
Conversations
Database Growth
Branded Search
THE WORLD BANK – Ease of Doing Business Index
GLOBALPEDIA – Globalization Partners
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Design the blueprint for a successful execution
BACKGROUND
There is good chance that you are already selling into these new markets through your team.
Take the time to summarize the current status of this and how it will change.
How are you selling into this market/region/country today?
Who handles these sales calls?
How many inbound leads are you getting?
What is your budget for this expansion?
4. Expansion TeamExpanding globally is a team sport. It requires input from all functional areas to ensure that this
exciting time doesn’t turn stressful. Your expansion team summary should answer who is responsible
for each of the following areas:
Operations Lead
Legal
Finance
Managing Team Members
Product
HR
Recruiting
Revenue
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Methodical Demand Planning and Tech Stack
• Before you get leads, you need a tech stack that will support more volume.
• Before you enable a sales team, you need leads.
You’ve got a lot to do, but you don’t need to do it all at once:
Tech Stacks Analytics
Website
Events
Automation of Taks
Incentives
Paid
ABM
ABM
Automation
Paid Search
Syndication
MarketResearch
Training
Training
ABM
SWAG
SWAG
ReferralProgram
Quality
Display
Webinars
Reinforcement
KPIs
Forecasting
Content
Intent
Events
Incentives
KPIs
CompetitiveAnalytics
Brand
Outbound
Social
DigitalOptimitation
Enable BDRTeam
Enable SalesOrganizations
Support SalesProcess
Nurture LostBusiness
CustomerJourney
DiversifyLead
Generation
Your optimal revenue plan may look like this visually
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A good tech stack is critical
Understanding how each technology influences different stages of the funnel is really important.
Next, think about the order of which you will engage different Marketing channels. This will allow your teams to focus,
drive results, and then build up. Here is an example of what that might look like at a high level:
Marketing technology(martech) stack
Brand awareness amplification of messaging and thought leadership 2-4 month lead time
on digital needed for CPL optimization
Spend controls output
Database & Public Relations
Digital OptimizationPrograms
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Consider redesigning your internal infrastructureThese infrastructure plans include hiring international employees and executives, finding local vendors,
determining legal, regulator, and tax statuses, and positioning a physical facility or base if necessary.
• Human Resources
• Payroll
• Accounting and Bookkeeping
• IT
• Legal Counsel
How are you going to handle compliance within this new country?
• Setting up a subsidiary regional presence
• Opening local bank accounts
• Registering with tax authorities
• Acquiring local commercial certifications
• Maintaining corporate records and filings
• Administering compliant payroll, compensation, and employee benefits
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Securing the right talent to work abroad seems like a daunting task. However, with the right infrastructure and focus, you can ensure that you acquire a more accurate workforce, in a more efficient way.
1. Break down your hiring process into bite-sized stages
2. Understand your Employee Value Proposition (EVP)
It’s not about you. It’s about the candidate.
According to multiple studies, the right candidate for specific roles is 4x more likely to be engaged across the entire hiring process if they find your EVP compelling. You can assume that 80%-85% of candidates you proactively seek will check your EVP before responding to your vacancy.
Firstly and most importantly, you must focus on who you want to hire.
Price Pace Positioning
How to acquire the right talent when growing your business
Who is a good candidate for your role?
Skillset Qualifications
Narrowed down skillset
Who is the right candidate for your role?
vs.Mindset Aspiration
Attitude
DefineTargetSource
Screen Interview Win offer
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People & Workplace
Compensation & Benefits
Reputation of the company
Key characteristics of the role
3. Ensuring a consistent EVP is clear across multiple ‘safety net’ platforms
The most common downfall for employers is mobilizing an EVP so that they can better activate passive candidates. Passive candidates are candidates who are absolutely perfect for your position, however, aren’t actively looking to a point where they advertise their CV online. Your EVP needs to be mobilized to inspire and activate these profiles, whilst ensuring that you build up a pipeline of accurate candidates to benchmark.
A comprehensive job description
Updated career page
Social media
• Company intro & bio • Holistic positioning of the role in your business
• Video messages
• Motivate from within your career page • Full role description
• Shareable post • Attract current employee network • Expand the reach of your role
Develop a clear understanding of who you are trying to hire.
Define clear employer branding messages to attract the right people.
Maximize outreach to potential candi-dates through the suitable channels.
Screen all applications to shortlist top candidates using automated screening technologies.
Equip interviewers with skills to identify the best candidates. Improve efficiency with structured interview process.
Win offers and onboard new hires effectively.
Develop Define Source
Screen Interview Target
Secondly, you need to marry these factors to what the candidate wants in their jobs & working environment. Factors that may provide a more comprehensive brand to prospective candidates include:
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Don’t let risks derail your growth plans
As an entrepreneur, you have big plans to take your business to
the next level. Don’t let risks derail these growth plans.
What are you top 3 business growth goals?
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2.
3.
What could prevent you from reaching your goals, i.e. what are the key risks for each of these business goals?
Risks to growth goal 1:
1.
2.
3.
Risks to growth goal 2:
1.
2.
3.
Risks to growth goal 3:
1.
2.
3.
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What risks do you need to mitigate through changes in behavior?
1.
2.
3.
What risks do you need to actively identify, monitor, and mitigate?
1.
2.
3.
What insurance policies do you already have in place or need to get?
Directors & Officers – protects the personal assets of management and directors from lawsuits as a result
of running the company.
Already in place Need to get Not needed as risk deemed too low
Professional Indemnity – protects the company in case of lawsuits as a result of failure of product/services.
Already in place Need to get Not needed as risk deemed too low
Cyber Liability – protects the company when cyber incidents happen.
Already in place Need to get Not needed as risk deemed too low
Risk matrix for actionWhere do these risks sit in the matrix?
Major consequences
Minor consequences
Low likelihood High likelihood
Transfer risk through insurance
Risk can be safely ignored
Mitigate through changes in behavior
Actively identify, monitor, and mitigate
D C
A B
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Find the right partners to help you succeed fasterABOUT GLOBALIZATION PARTNERSGlobalization Partners is an Employer of Record with owned entities around the world. We help companies expand internationally in 187 countries without having to establish a local entity.
You identify the talent, and we employ your team member via our in-country payroll. Quickly and easily hire around the world without the burden of HR, tax, and legal matters.
Work with us, and we will have your employees onboarded in the countries of your choice in a matter of days.
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187Countries
Locally compliantemployment
contract
Locally compliantbenefits
Your employee, on our payroll
Your employee is100% assigned to
work for you
Start to Finish: A Matter of Days
1. Get first pick from the global talent pool – hire the best person in the world for the job.
2. Test new markets – with literally no risk.
3. Manage compliance – stay ahead of local labor laws and changing regulations.
An EOR is a growth hack for startups that wish to capture market share and expand quickly:
3 major benefits of using an Employer of Record
Learn more about the Employer of Record solution and how Globalization Partners can help you grow globally.
Read: What Is an Employer of Record?
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North America: [email protected], Middle East, and Africa: [email protected]
Asia-Pacific: [email protected]
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