No company wants to stay in its home market forever. But when the time comes for your company to hit the airport and expand to new countries, how do you go about it?
According to 99Designs‘ Patrick Llewellyn, the best way to traget other locales is actually quite simple: Take what he calls the minimum viable approach, asking yourself what is the minimum set of requirements to approach a new market?
Foe 99Designs, a company that hosts effective, if slightly controversial design competitions, the blend is translation of language to the local tongue, the translation of its support mechanisms into what the market will understand, and to support payment options that are extant and in use. In short, the company keeps its core in place, while adjusting the customer-facing elements of its service.
However, Patrick warns you to keep your expectations in measure with your input; if you are going for the minimum viable option, your result could be constrained.
For 99Designs the approach has been a success. Now with 6 languages in place – Dutch was added yesterday at the conference – it has an office in Berlin, and growth rates in the German market, where it has seen growth rates outstrip other markets by 50 to 60 percent. Enjoy!
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