Traveling the world while feeling at home. This is one of the values provided by various globally active startups. Imagine arriving in another continent, taking the pre-arranged transport from the airport to a dream private accommodation, all booked through an app. Once in the vehicle waiting for you with the ideal air conditioning temperature, you take the opportunity to choose on your phone the playlist featuring the latest releases from your favorite artist while virtually touring the apartment you plan to rent when you return to your country of residence.
Convenience and Practicality
These conveniences are only possible due to internationalized startups like Uber, Airbnb, Spotify, and Quinto Andar, which play a crucial role in international trade and offer services to clients in various places around the globe.
Startups not only introduce technological innovations and revolutionary business models that make our lives easier but also drive economic growth in the regions where they operate, facilitating the circulation of resources and generating direct and indirect jobs.
Until recently, many buyers and sellers would wait for the original signed and sealed contract to arrive by mail to ensure the legitimacy of the agreement. Today, through platforms like DocuSign, signing a contract has become faster and just a fingertip away.
The presence of international startups increases market competitiveness and naturally elevates the quality of products and services that, in many cases, were monopolized by local companies.
The Success of Lean and Global Startups
In recent years, we have seen many startups becoming internationalized from the outset. Known as "born globals," they use the same strategies as Lean Startups, which have been widely employed by other startups: a focus on rapidly developing a minimum viable product (MVP) and a continuous quest for product improvements based on customer feedback. But they go further.
Startups that are born with the DNA of internationalization, in the same drive they take to reach the local market, aim for and eventually reach foreign markets.
Democratized connectivity and digital technologies are the main vehicles for international scaling from their launch. Startups that are born global and operate in a lean manner embody the concept of exponential scalability.
Internationalization and Growth
Internationalization allows access to larger markets and a significant increase in the customer base. Spotify was born in Sweden, a country with about 10.5 million inhabitants. Today, it is present in 177 countries and has over 600 million active users worldwide. Its agility and speed in expanding into the international market were key to making it the most used music streaming app in the world.
Uber, originally from the United States, operates in 70 countries around the globe.
The fact that it operates in multiple markets diversifies risks and gives the startup the peace of mind to decide whether to continue facing potential regulatory risks or political instability in certain regions, even being able to cease operations in some locations without affecting its growth.
DocuSign, a digital signature platform, was created in 2003 in the United States and has since garnered clients across 180 countries. Over time, it has had to meet requirements from various certifying bodies. Internationalization creates constant opportunities for innovation and access to new technologies.
Run Away from Common Sense
There are countless advantages to internationalizing startups, but it is common to think that starting a company by already internationalizing its products or services means taking on too many risks. Pivot your thinking.
By planning and executing internationalization with good advisory, putting the pillars of Lean Startup into practice, the risks become calculated challenges, and the chances for growth will increase exponentially.
Do you want to launch your idea to the world? CH3 Global wants to be by your side. Contact us to find out how we can help you achieve your international goals.
If this article were a song, it would be "Born to be Wild" by Steppenwolf. Listen to it on our playlist to brighten your day.
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