For too many American start-ups, Europe is a dirty word. It doesn’t have to be that way.
By Michael Amar. Originally published on VentureBeat.
For too many American technology start-ups, Europe is a dirty word.
Classically, US start-ups have pursued the European market after their Series B or C funding rounds, or even later. Many companies only consider Europe when their US growth begins slowing down.
Then, they might target Europe by either hiring a European industry visionary, or by transferring a top sales person to London and hoping for the best. Sometimes this approach is successful, but it’s often not.
It doesn’t have to be that way.
With more than 700 million people, Europe is not worth leaving to chance. And the current economic challenges provide a real opportunity for growth and innovation.
Yes, Europe is more a concept and a currency than an actual single market. And yes, languages, taxes and regulation are a real pain. But since when have any of these obstacles held back an entrepreneur?
Put it another way. If you were raising a child and knew you wished for him or her to become bilingual, would you not start at the earliest age possible? If you want to succeed in Europe, build your start-up multi-nationally from day one. It won’t get easier to change and adapt once the company’s culture and products have settled into maturity. And today, technology, bandwidth and mobility empower start-ups to develop as international teams.
Here are some success factors we’ve applied at Ifeelgoods to help you win in Europe and the US simultaneously: