Playbook / Lessons / Expand: new markets

Check your product is needed and affordable before choosing a market

Buller and van Lerberghe say the primary considerations for a first international market are the need for the product there and the size and potential of the market. Different markets can have different systems, budgets and problems, so the product may need significant adaptation or may not be needed or affordable at all. They also point to regulation, culture, competition and local partnerships, and note that customers and partners sometimes pull a founder in one direction.

“Your product or service may need to be significantly adapted for a new market”— David Buller and Laurent van Lerberghe, How to choose your first international market, Aug 2024

Do this

Pick one candidate country and talk to a few potential customers there to learn whether they already pay for something like your product and what budget they have, before you commit any spend.

More in this pack

• Prove demand abroad before you staff an overseas office
• Stay in your first location for the first few years
• Recruit local partners like customers with a filtered list and outreach
• Expand into a client niche close to the one you already serve

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