On Wednesday, May 26h during #StartupChats, we talked about Starting Up with a Global Mindset with Scotiabank.
We were joined by a great global expert;
Annie Cyr, Founder and CEO of Tengiva
We talked about getting ready to go global;
Many factors come into play here, but I think when you are growing locally and nationally, that validation can let you know that it is the right thing to keep growing and expand into new markets. #StartupChats
— Kayla Isabelle (@Kaylamisabelle) May 26, 2021
@Scotiabank #StartupChats In any case, it’s not a question of if you are ready, but more if your product is.
— Tengiva (@tengiva) May 26, 2021
A1 – Scale successfully and have market research to show demand elsewhere. Consulting with @ExportDevCanada is a good place to start as well.#StartupChats
— Colin McGuire (@realColinMac) May 26, 2021
And crucial steps to take like market analysis;
@Scotiabank #StartupChats In our specific case, we had to be international before becoming local. We developed a “chameleon strategy” that was specific to an industry, not a country. Your market analysis will define what is your starting point.
— Tengiva (@tengiva) May 26, 2021
A3: We must know who our competition is, and what they are offering.
Just like starting at the beginning, analyzing your market and the world of business is crucial to positioning yourself! #StartupChats
— Kayla Isabelle (@Kaylamisabelle) May 26, 2021
A3 I don’t do this type of analysis, yet I agree it makes sense to get at least a look at the lay of the land before you dive deeply into something. #StartupChats
— Kristine Carey (@KristineCarey) May 26, 2021
We also asked what it takes to go global…
A5. Knowing what you’re expanding (product, operations, business) and knowing the challenges as well as the opportunities #StartupChats
— LYNDON [THINK DIFFERENTLY] JOHNSON (@THINK_Lyndon) May 26, 2021
A5: Capacity. Going global is a big lift and you will need a strong team to help do it. There will be new responsibilities and challenges so having the power in your team will be crucial! #StartupChats
— Kayla Isabelle (@Kaylamisabelle) May 26, 2021
A5 While I often joke about World Domination, I admit my plan for it is a bit fuzzy… #StartupChats
— Kristine Carey (@KristineCarey) May 26, 2021
If you want to see the rest of this conversation, you can view that here.