estonian b2b startup
going internet-ional
I am   Mark Kofman




enterpreneur, 2nd startup, business
experience in 5 countries, software
offshoring and outsourcing
...
co-founder of…
analytics for companies that
outsource and offshore
software projects
US, India,
our customers are in
China, Russia, ...
young startup reach the
How does
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 ...
… 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?
opportunity for this region startups:




go for internet-(ional) market
It's not just setting up an e-shop




you need online strategy, suitable
business model, specialists,
resources
benefit: you can control your
budget for expansion and
marketing




            think pay per
            new customer
think   pay per new customer




   1. pay per click ads
   2. make 80% of your sales
   process online
   3. monitor conv...
customer aquisition cost

 1.   100 clicks = $100
 2.   5 phone calls = $25
 3.   1 online meeting = $25
 4.   contract pr...
think   pay per new customer




        If new customer aqusition
        costs you $151, you can
        approach new ma...
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
Estonian b2b startup going internet-ional
Estonian b2b startup going internet-ional
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Estonian b2b startup going internet-ional

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This is my presentation at World Forum for Direct Investment in Vilnius, June 2009. I talked about our startup (programeter.com) experience of going international.

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Estonian b2b startup going internet-ional

  1. 1. estonian b2b startup going internet-ional
  2. 2. I am Mark Kofman enterpreneur, 2nd startup, business experience in 5 countries, software offshoring and outsourcing expertise
  3. 3. co-founder of…
  4. 4. analytics for companies that outsource and offshore software projects
  5. 5. US, India, our customers are in China, Russia, ...
  6. 6. young startup reach the How does customer so far away?
  7. 7. …example of programeter not so successful expansion to USA-silicon valley
  8. 8. I spent 3 months in silicon valley doing direct sales to potential customers and partners
  9. 9. results: 100 meetings, 20 events, 10 new business opportunities, 3 investment opportunities... sounds good?
  10. 10. … actually not after landing in Estonia we failed to follow-up effeciently and lost most of the opportunities
  11. 11. resources only to do first steps
  12. 12. you should plan at least 1 year ahead
  13. 13. but reality is different. baltic startups typically have cash only for 3-6 months
  14. 14. what can we do about it?
  15. 15. opportunity for this region startups: go for internet-(ional) market
  16. 16. It's not just setting up an e-shop you need online strategy, suitable business model, specialists, resources
  17. 17. benefit: you can control your budget for expansion and marketing think pay per new customer
  18. 18. think pay per new customer 1. pay per click ads 2. make 80% of your sales process online 3. monitor converstion rates
  19. 19. customer aquisition cost 1. 100 clicks = $100 2. 5 phone calls = $25 3. 1 online meeting = $25 4. contract printing costs = $1
  20. 20. think pay per new customer If new customer aqusition costs you $151, you can approach new market even with $1000 in cash
  21. 21. call to action: government and investors should understand and support internet-(ional) companies
  22. 22. Handshake will be always local
  23. 23. local authorities can improve quantity and quality of handshakes?
  24. 24. 1. networking and matchmaking events
  25. 25. 2. office space for visitors with meeting rooms
  26. 26. 3. local legal help so companies can focus on their business
  27. 27. resume: @companies: think pay per new customer @autorities: internet-(ional) model support @all: improve handshakes
  28. 28. estonian b2b startup going internet-ional

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