Start the project locally or globally?
Today we want to share with you one of the most common topics that we most often deal with in the first meetings with clients. Is it better to start a new digital project locally in the Czech Republic or globally? Is it worth taking off in one country or going straight to multiple ones at the same time? Will our product not be received better on a larger market than in the Czech Republic? Unfortunately, the answers to these questions are not easy at all, and we always have to look at many factors and design a tailor-made strategy. It's easy to say that you download the app anytime, anywhere, language mutations are also not a problem to add, but for us it is important to stick to all the principles that we have written down bellow.
1. Don't try to catch more fish at once
Especially in the early days of the project, it will be crucial to get to know your target audience, work through the business model, set up marketing channels, deal with a lot of errors and shortcomings that will not be easy to figure out before launching. So we often advise, focus on one market, conquer it (at least partially) and then expand further.
2. Start in the market you know
Believe that every country, culture, market and territory has their own specifics, whether it is people's behaviour, tax and legal differences and much more. It will certainly be easier for you to start where you know it and where you are confident in many areas. So you'll be able to focus on running the project and you won't have to address language barriers and different people's thought processes - which can take months to understand.
3. The larger the market, the more customers?
As a rule, the larger the market, the more potential customers, but the greater and sharper the competition. If a Czech startup wants to break through in America, for example, it must expect the key costs to come in a much larger magnitude (marketing, legal services, translations, employees). It may look like we're trying to discourage you from entering foreign markets, but it's not supposed to sound like that. We are just trying to set up critical questions and topics that need to be carefully considered before you decide to go abroad.
Of course, some of the startups we do are worth running on a non-Czech market from the very beginning. It's because there are better conditions for the product, a more mature market, or we find some kind of a "loophole" in the market. However, much more often, what you start and tune in the Czech Republic will certainly work with small variations in other markets as well.
Often applies: Test it in the Czech Republic, build good foundations and then expand further to other countries. And always ask yourself the following basic questions when considering expansion: Why to this country? Can I live in this country at least temporarily and devote myself to the project to the fullest? Am I going to have to edit the product for the local market? Do I know local competitors? And much much more.
Are you concerned about this question or something else about your project? Come to us independently to consult.