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How to launch the next big global startup

by on February 1, 2017 in Latest News, Lead Article, Lead story, News you can use, Nuggets, Small Business, Startups

How to launch the next big global startup

Back in ancient times, before the internet took over our lives and shrunk the world, to run an internationally successful business you needed stores of cash and an army of employees at your disposal.

Now, startups often launch and turn global in one quick step (think Uber or Airbnb, Snapchat or Spotify – pretty much any of the big brands you use or talk about on a daily basis).

If they can do it, then so can you.

Yes it’s scary and yes you will still need a fair bit of capital to get started, but there are plenty of growing overseas markets for the taking.

So long as you can hold your nerve and stick to a plan, your entrepreneurial fantasies will soon become reality.

Here are a few top tips and words of warning to help you launch the next big global startup.

Plan big, start small

You may have dreams of seeing your brand plastered in every corner of the world, but your business will only work if you approach it one country at a time.

Labour costs and availability, distribution networks, cultural values, national languages – they’ll differ in each place. To run and market your startup successfully you have to understand all these factors. Split your business plan into sections, including specific stats and strategies for every target country.

Get the funds in place first

There are no two ways about it, starting a company costs money, whether you’re going small or taking the global route. Before you sign any leases or commit to any orders, get your finances in shape and the appropriate funds in place.

Include comprehensive budget demands and predictions in your business plan. This will make it easier to sweet talk investors or banks into giving you a loan.

Crowdfund your way to success

As well as helping to raise the necessary capital, crowdfunding is also the perfect way to grab the attention of future customers.

It’s regularly used by charities, businesses and individuals to get their products and ideas off the ground, and it could work for you too. Kickstarter is the most obvious place to start, but don’t forget to check out other sites like AngelList or Fundable.

Take care of your growing workforce

Legal disputes and fallouts are regularly cited as one of the biggest roadblocks a fledgling company can face, with fines and lawyer fees often sinking them entirely.

Avoid that nightmare situation by taking care of your workforce. Read up on local labour regulations and invest in a global payroll service from the likes of SD Worx to ensure that, no matter where they’re based, your staff are being paid on time and in accordance with the law

 

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