William Newton, president and EMEA MD at WiredScore, which recently expanded to France, Ireland and Germany, shares his top tips for expanding a startup across Europe.
There’s no doubt that, for many startups, since Brexit there’s been a big question mark over Europe and how British companies will operate on the continent once the negotiations have finished. But despite the uncertainty, Europe remains a fantastic and critical area for growth for an ambitious British company.
So, what would I recommend to a startup looking to expand into the European market? Here are my top tips:
1. Hire the best people you can
It goes without saying, but ultimately, when you’re expanding your company into new regions, you need somebody you can trust. I think there are two options: send out a trusted lieutenant; or hire someone new from that country. If you go for the latter approach it’s really important to first bring the person to your home office to learn the ropes and get a feel for the business. This is crucial to make sure that, beyond running your operations and selling your products in a new market, they are able to recreate the company culture that’s helped you get as far as you have....