Jenni Risku - Your startup is going international
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Your start-up & going international
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Dzień dobry! Mam na imię JENNI.
One younger brother, parents in Finland
Studied in Finland and in Hong Kong
Worked for U.S., Finnish and Chinese companies
Expanded businesses & lived in China, Hong Kong, Finland, Poland
Entrepreneur (Venturem - registered in Finland)
Started international development of Finnchat (Spring 2014)
Experience in consulting, IT outsourcing, international trading (FMCG), investments (M&A), start-ups
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AUDIENCE
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Happening now: Expansion to Germany & Poland
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Your start-up GOING INTERNATIONAL - illusion
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Your start-up GOING INTERNATIONAL – what really happens
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…AND SOMETIMES…
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…AND MORE OFTEN THAN WE WOULD LIKE TO…
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Things to considerHow much time can you afford to invest in the
expansion? Is the whole company committed to this?
Are you financially in a stable situation?
Short vs. Long-term approach
Strategy (what works in your country might not work in another)
Pricing & Sales
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Start thinking globally - early!
Helps you to prepare
If you plan to be international, good to have e.g. English as official company language from the beginning (Cost and hassle of translations)
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Managing Operations – Centralized system
Communicating with distributors, sales reps, and other colleagues (video conferencing / phone?)
Managing projects - BaseCamp, DropBox, and other file sharing and project management tools
Right partners for support functions (HR, marketing, IT, purchases…)
Legal stuff and HR issues
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SALES
Own team vs. outsourced sales (e.g. consultancy)
Product knowledge vs. Market knowledge
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NETWORK NETWORK NETWORK
Seek advice from companies that
have already entered the market
and are willing to share
war stories
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HAVE YOU SECURED YOUR BUDGET?
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Back-up plan & ability to make changes - fast
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HOW TO GO? Limited liability company? Branch? Joint Venture?
Representative?
Buy a business?
GOING ABROAD = €€€€ Own resources enough? What’s the back-up?
EU grants?
Investor?
Loan?
Local incentives?
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When you decide to go – be persistent!
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…yet keep your eyes open and adapt!
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THANK YOU! [email protected]