Whether expanding internationally or working to dominate an emerging market, opportunities and challenges are myriad, complex, and changing in real time. Lumia Global Success is your trusted partner, leveraging unique expertise and resources across our global team, Global Success Council, portfolio, and trusted third parties, working hand in hand with the world’s best tech companies to answer the difficult questions, make the right connections, and achieve unique results.
Christopher T. Rogers, J.D. is a Partner at Lumia Capital where he is responsible for leading Lumia’s investment and value-add activities for companies with significant exposure to mobile platforms. Prior to Lumia, Chris was the co-founder of Nextel Communications which he grew to $13B in sales and 19k employees before being acquired by Sprint for $35 billion. Chris brings 30 years of mobile industry experience as a founder, advisor, and...Read More
Lumia's Global Success Council, A core element of our Lumia Global Success platform, brings together some of the foremost internationalization trailblazers, wireless decision makers, and influential local leaders --- Powerful, personal and real time knowledge and expertise across our global scope, critical to helping our companies achieve ideal outcomes.Explore GSC Members
In selecting markets, be thoughtful about local market requirements and how it fits your ethos and brand (e.g., China and firewalls)
Should we organically build or use M&A to buy our way in?
What criteria would we use to select the ideal market for us?
How do we get local market diligence and scouting insights?
Marketing can change up to 80% for each new country – while product stays the same, each culture and values differ.
Is our current sales and marketing approach work portable? How to validate?
Would a local channel partner allow us to enter faster and cheaper?
How should local mobile/telcos play a role in getting rapid distribution?
It may be ideal to bring leaders from HQ to set up real expansion end ensure cultural fit. Establish the level of decision making power that the office/local leader has, level of autonomy, etc. Remember many things differ (e.g., labor laws, way you set up entities, etc.). Getting any of these wrong can be morale killers.
What corporate structure should we use? Centralized? Local GMs? Other?
How do we goal the team appropriately? Are we tooled to track that goal?
Where do we find the right leaders? The local sales and marketing teams?
We keep an eye out to potential regulatory concerns. It depends on the startup. For instance, FinTech often has more considerations.
Who do we need to know in government? How do we get access?
What public relations are key to winning in the local culture?
Which legal structures are important? Where do we get advice without breaking the bank?
When you scale globally, major operational shifts need to occur to ensure satellites stay in touch with the company and feel a core part of the team. Heavy Slack use, all meetings via video conference, etc.
What financial structures and tooling needs to be in place?
Which entity structure is ideal? Who can help us make trade-offs right for us?
Do we invest in local HR and offices? What are our options?
Mistakes made? Not having local legal, salary, medical insurance, holiday insights, etc. Get this infrastructure in place!
What taxes will we pay? How do we optimize our structure?
Are there differences in payments and payment processing we need to know?
How do we deal with local payroll? Do we need new systems?
What's the secret to helping manage global complexity on the businesses financials? Ensure you consider up front how easy it is to get money out (repatriate income, tax considerations)
What are the regulations and restrictions around repatriating income?
Are there ideal structures and strategies that simplify our lives?
How do we think about allocating our resources across geos as a result?
Startups should start local product design when first thinking of potentially going global, not after they enter
How can we deal with local language structure and format?
Are our use cases/features valued differently in other geos? Does it affect our messaging and development emphasis?
Do we need to tweak our branding for local preferences?
What local tech and services infrastructure investments are needed?