Global Expansion: Preparing Your Startup for International Markets.pdf

Techbiz Webinar delivered by Opeyemi Awoyemi

1. Global Expansion:
Preparing Your Startup
for International
Markets
My story, why, where and how to go global.
by Opeyemi Awoyemi

2. About Me
Nigerian Success
Built two No. 1 companies in Nigeria:
JBM (jobs) and WGH (domain
registration).
Global Ambition
Moved to the US in 2019 for growth
opportunities.
Today
Now manages a venture studio and
fund, investing in global companies and
building one myself.

4. Why Build for the
World?
1
Bigger Market
The world offers more
opportunities and needs to
be met.
2
Richer Prospects
Global markets often have
higher purchasing power.
3
Diverse Needs
Different markets present more problems to solve.

5. Challenges in Global
Expansion
Knowledge Barriers
Historically difficult to build for unfamiliar markets.
Cultural Differences
Understanding and adapting to diverse cultural norms.
Skillset Gaps
Developing necessary skills for global operations remains challenging.
Payment Solutions
Now largely solved, but was a significant hurdle.

6. Why Expand Internationally?
1
2
3
4
5
Adding Volume
Increase growth and market share.
Decreasing Costs
Leverage economies of scale.
Differentiating
Increase willingness-to-pay in new
markets.
Improving Industry
Position
Enhance bargaining power and
attractiveness.
Normalizing Risk
Optimize and diversify risk across
markets.

7. Where to Expand: CAGE Framework
1
Cultural Distance
Values, language, religion, social norms
2
Administrative Distance
Legal systems, government policies, regulations
3
Geographic Distance
Physical distance, transportation, infrastructure
4
Economic Distance
Income, wealth, economic development differences

8. Expansion Strategies
1
Aggregate
Expand sales of same product to more markets.
2
Adaptation
Change product to suit new market needs.
3
Arbitrage
Leverage benefits of new location to serve existing and more
markets.

9. Strategic Market Choices
Kenya
Gateway to East Africa, better ports,
manufacturing ethic.
Dubai
Cosmopolitan, gateway to Asia, tax
benefits, great HQ location.
USA (Delaware)
Largest market, global access, retrofit for
market success.

10. AI powered SAAS
presents a new
opportunity to build for
the world and with little
VC money needed.

11. Do's and Don'ts of International
Expansion
Don'ts
Raise funds for unfamiliar markets
Overspend in new markets
Ignore your data
Lose your existing market
Do's
Attend industry events
Network fast and hard
Use advisors to fast-track learning
Test waters with channel partners

12. Connect with Opeyemi Awoyemi
Direct Consulting
Dig deeper into which countries are
best for your expansion.
Fintech Licensing
Expert consulting for fintech
licensing in new markets.
Social Media
Follow @opeawo on all platforms for
more insights.