The expansion of a startup can be driven from different angles, take these factors into account.
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The expansion of a startup can be promoted from different angles: the market itself where you start operations, learning from the behavior of your clients’ customers and applying it to improve your service, as well as embracing the dynamism that business evolution implies, especially when they are supported or driven by technology and digitization.
Our experience at Justo was to start in Chile, a market with less than 20 million inhabitants, so expansion was always in our plans, especially when we saw the common challenge of the restaurant sector in other countries, which needed to regain control of their businesses through generating their own information with digital solutions.
We focused on knowing the particularities of the countries where we wanted to open an operation to understand how to have a better connection. Currently, we have operations in Mexico, Colombia, Peru and soon in Costa Rica and Ecuador.
The main recommendations to be able to have a healthy and sustainable growth is that the founders are clear about:
The importance of a good team. For us, the focus has been: surround yourself with a few very good ones. Having a good work team is profitable in the short and long term because they will have interesting contributions that will allow you to meet business objectives, as well as achieve exponential results, thanks to their experience, skill and knowledge.
Assume constant dynamism: It is necessary to recognize the different business cycles: incorporating new clients implies providing them with tools that will allow them to improve their own sales and growth, which is driving the sector itself. This allows the service to be promoted and evolved to open new markets, whether they are cities within the same country or make the international leap. The important thing is not to lose focus of the business to be able to recognize and take advantage of opportunities.
Know your market well: We start from “think local and act global” and to achieve this, it is very important to know your own market first, because even within the same city and in the same sector, there are different needs and pains. When we talk about reaching other countries, it implies recognizing how is the best way to speak to these new clients: what words do they use? What concepts are closer and more important? What information is most relevant to them for making decisions?
The best recommendation is to develop an orderly growth strategy, with clear objectives, which translates into the operational and organizational infrastructure that allows it to be carried out in a sustainable and constant manner.