estonian b2b startup going internet-ional

I am Mark Kofman

enterpreneur, 2nd startup, business experience in 5 countries, software offshoring and outsourcing expertise

co-founder of…

analytics for companies that outsource and offshore

software projects

our customers are in US, India, China, Russia, ...

How does young startup reach the customer so far away?

…example of programeter not so successful expansion to USA-silicon valley

I spent 3 months in silicon valley doing direct sales to potential customers and partners

results: 100 meetings, 20 events, 10 new business opportunities, 3 investment opportunities...

sounds good?

… actually not

after landing in Estonia we failed to follow-up effeciently and lost most of the opportunities

resources only to do first steps

you should plan at least 1 year ahead

but reality is different. baltic startups typically have cash only for 3-6 months

what can we do about it?

go for internet-(ional) market

opportunity for this region startups:

you need online strategy, suitable business model, specialists, resources

It's not just setting up an e-shop

think pay per new customer

benefit: you can control your budget for expansion and marketing

think pay per new

customer

1. pay per click ads2. make 80% of your sales process online3. monitor converstion rates

customer aquisition cost

1. 100 clicks = $1002. 5 phone calls = $253. 1 online meeting = $254. contract printing costs = $1

think pay per new

customer

If new customer aqusition costs you $151, you can approach new market even with $1000 in cash

call to action:

government and

investors should understand and

support internet-(ional) companies

Handshake will be always local

local authorities can improve quantity and quality of handshakes?

1. networking and matchmaking events

2. office space for visitors with meeting rooms

3. local legal help so companies can focus on their business

resume:

@companies: think pay per new customer

@autorities: internet-(ional) model support

@all: improve handshakes

estonian b2b startup going internet-ional