10 things i wish i knew before i got on the plane

10 THINGS I WISH I KNEW BEFORE I GOT

ON THE PLANE

International Growth – Strategy vs. Reality

Cory Bolotsky Director of Global Operations

@bolotsky @MassChallenge

WHAT IS MASSCHALLENGE?

MassChallenge is the most startup-

friendly accelerator on the planet.

Executing on a vision to catalyze a

global startup renaissance in 10 offices by 2020

means significant growth.

GLOBAL GROWTH

During my tenure, MassChallenge has grown from a small operation to a complex global network of multicultural employees.

7 EMPLOYEES

1 LANGUAGE

1 OFFICE

1 COUNTRY

MC 2011

60+ EMPLOYEES

6* LANGUAGES

6 OFFICES

6 COUNTRIES

MC 2016

*British English IS a different language.

10 THINGS I WISH I KNEW BEFORE I GOT

ON THE PLANE

#1 – HIRING IS VERY DIFFICULT •  CV’s are different •  People can’t start when you want them •  Headhunters aren’t (usually) a great resource

But hiring the right people is THE MOST important step to

successful expansion!

#2 – TAXES AND BENEFITS ARE EXPENSIVE Make sure your research & understand these so you budget correctly

#3 – AT-WILL EMPLOYEES ARE AN AMERICAN CONCEPT You need to properly understand probation periods and local hiring / firing regulations

You’re Fired!

#4 – WORK WITH GOOD, GLOBAL, SERVICE PROVIDERS A reliable lawyer and accountant are critical in a foreign environment

#5 – WORK WITH PARTNERS AND LOCAL CHAMPIONS Local partners help connect you with the people, resources & knowledge you need.

#6 – DON’T BE A GRINGO Try to understand the local culture, dress code, norms and language to build local respect and appreciation.

#7 – EMBEDDING A CURRENT EMPLOYEE IN THE NEW OFFICE Putting someone who knows the company helps with training, collaboration & culture transfer.

#8 – COMMUNICATION SYSTEMS ARE DIFFERNT People don’t use email, telephone, LinkedIn or Facebook the same way you’re used to.

#9 – CALENDARS AREN’T THE SAME EVERYWHERE Not every country works Mon – Fri 9 to 5 or has Daylight Savings Time the same day.

#10 – NOTHING REPLACES FACE-TO-FACE TIME No video conferencing solution replaces in-person meetings so plan for a lot of travel.

Hiring is very different but the most important step

Taxes and benefits cost a lot more

At-will employees are a very American concept

Work with good, global, service providers

Build partners and local champions

1 Don’t be the gringo

Putting a current employee in the new office is key

Communication processes are different

Calendars aren’t the same everywhere

Nothing replaces face-to-face time

10 THINGS I WISH I KNEW BEFORE I GOT ON THE PLANE

THANK YOU! ¡GRACIAS! תודה רבה!

Cory Bolotsky

Twitter: @bolotsky cory@masschallenge.org

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