Estonian b2b startup going internet-ional
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estonian b2b startup going internet-ional
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I am Mark Kofman
enterpreneur, 2nd startup, business experience in 5 countries, software offshoring and outsourcing expertise
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co-founder of…
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analytics for companies that outsource and offshore
software projects
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our customers are in US, India, China, Russia, ...
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How does young startup reach the customer so far away?
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…example of programeter not so successful expansion to USA-silicon valley
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I spent 3 months in silicon valley doing direct sales to potential customers and partners
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results: 100 meetings, 20 events, 10 new business opportunities, 3 investment opportunities...
sounds good?
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… actually not
after landing in Estonia we failed to follow-up effeciently and lost most of the opportunities
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resources only to do first steps
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you should plan at least 1 year ahead
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but reality is different. baltic startups typically have cash only for 3-6 months
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what can we do about it?
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go for internet-(ional) market
opportunity for this region startups:
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you need online strategy, suitable business model, specialists, resources
It's not just setting up an e-shop
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think pay per new customer
benefit: you can control your budget for expansion and marketing
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think pay per new
customer
1. pay per click ads2. make 80% of your sales process online3. monitor converstion rates
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customer aquisition cost
1. 100 clicks = $1002. 5 phone calls = $253. 1 online meeting = $254. contract printing costs = $1
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think pay per new
customer
If new customer aqusition costs you $151, you can approach new market even with $1000 in cash
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call to action:
government and
investors should understand and
support internet-(ional) companies
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Handshake will be always local
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local authorities can improve quantity and quality of handshakes?
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1. networking and matchmaking events
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2. office space for visitors with meeting rooms
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3. local legal help so companies can focus on their business
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resume:
@companies: think pay per new customer
@autorities: internet-(ional) model support
@all: improve handshakes
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estonian b2b startup going internet-ional