Great post. Perhaps it's a "the grass is greener" mindset, or "the pot of gold" at the end of the rainbow, but I find too many founders seeking to expand globally, before they are ready.
Some years ago, I was recruited as CEO of a young start up. Part of it, was my experience with companies like this and their space. Part of it was they were headquartered in Paris and had intention of expanding aggressively in North America. The challenge was, they hadn't solidified their GTM strategies and their abilities to support customers in Europe. They were still struggling to figure out the formula.
Expanding to North America, at the time, would have been the kiss of death. They would have outstripped their ability to support Europe and NA. They hadn't even locked in the formulas for success, so would have been entering without the appropriate experience base.
We deferred the expansion to NA for 2 years. We expanded wildly in Europe, then went when we were ready.
What a great story! They were lucky to have you bring solid experience to the table and keep them focused. It's incredibly valuable to bring in outsiders who understand how to balance risk. Sometimes the VCs have a bit too much of a "pour gas on the fire" mentality, rushing things before there is clear product / market fit.
Great post. Perhaps it's a "the grass is greener" mindset, or "the pot of gold" at the end of the rainbow, but I find too many founders seeking to expand globally, before they are ready.
Some years ago, I was recruited as CEO of a young start up. Part of it, was my experience with companies like this and their space. Part of it was they were headquartered in Paris and had intention of expanding aggressively in North America. The challenge was, they hadn't solidified their GTM strategies and their abilities to support customers in Europe. They were still struggling to figure out the formula.
Expanding to North America, at the time, would have been the kiss of death. They would have outstripped their ability to support Europe and NA. They hadn't even locked in the formulas for success, so would have been entering without the appropriate experience base.
We deferred the expansion to NA for 2 years. We expanded wildly in Europe, then went when we were ready.
What a great story! They were lucky to have you bring solid experience to the table and keep them focused. It's incredibly valuable to bring in outsiders who understand how to balance risk. Sometimes the VCs have a bit too much of a "pour gas on the fire" mentality, rushing things before there is clear product / market fit.