Your start-up & going international

Dzień dobry! Mam na imię JENNI.

One younger brother, parents in Finland

Studied in Finland and in Hong Kong

Worked for U.S., Finnish and Chinese companies

Expanded businesses & lived in China, Hong Kong, Finland, Poland

Entrepreneur (Venturem - registered in Finland)

Started international development of Finnchat (Spring 2014)

Experience in consulting, IT outsourcing, international trading (FMCG), investments (M&A), start-ups

AUDIENCE

Happening now: Expansion to Germany & Poland

Your start-up GOING INTERNATIONAL - illusion

Your start-up GOING INTERNATIONAL – what really happens

…AND SOMETIMES…

…AND MORE OFTEN THAN WE WOULD LIKE TO…

Things to considerHow much time can you afford to invest in the

expansion? Is the whole company committed to this?

Are you financially in a stable situation?

Short vs. Long-term approach

Strategy (what works in your country might not work in another)

Pricing & Sales

Start thinking globally - early!

Helps you to prepare

If you plan to be international, good to have e.g. English as official company language from the beginning (Cost and hassle of translations)

Managing Operations – Centralized system

Communicating with distributors, sales reps, and other colleagues (video conferencing / phone?)

Managing projects - BaseCamp, DropBox, and other file sharing and project management tools

Right partners for support functions (HR, marketing, IT, purchases…)

Legal stuff and HR issues

SALES

Own team vs. outsourced sales (e.g. consultancy)

Product knowledge vs. Market knowledge

NETWORK NETWORK NETWORK

Seek advice from companies that

have already entered the market

and are willing to share

war stories

HAVE YOU SECURED YOUR BUDGET?

Back-up plan & ability to make changes - fast

HOW TO GO? Limited liability company? Branch? Joint Venture?

Representative?

Buy a business?

GOING ABROAD = €€€€ Own resources enough? What’s the back-up?

EU grants?

Investor?

Loan?

Local incentives?

When you decide to go – be persistent!

…yet keep your eyes open and adapt!

THANK YOU! Jenni.risku@finnchat.com