When is the right time to introduce your B2B software solution into international markets? How do you attract your first customers in foreign countries when you have a great product but only a small budget? International channel expert, Hans Peter Bech, author and founder of TBK Consult, shares his B2B software channel expertise and lessons from his new book, Going Global on a Shoestring.
Here are five tips I learned from Hans Peter on going global on a shoestring:
- No matter where you launch your company, have the international opportunity in mind from day 1. Otherwise, you will have to re-engineer your business considerably down the road to make it ready for international business.
- Going global on a shoestring is normally done by leveraging partners and building a channel, but not always. Some products don’t have a channel or benefit from the channel model.
- Before building a channel in a foreign company, get in and land a few deals so you can attract the first partner. Hire or contract a business developer to find the first set of early adopters who want to try out your product.
- You may have to provide exclusivity for a short term to help the first partner recoup their investment. But you have to convince the partner that having more partners to build the market is actually good for them.
- When selecting which countries to expand into first, look for countries that speak your language. Next, look for countries that aren’t already dominated by your competition.