How Global Exposure of The Founders Can be a Big Advantage for a Startup?
Being an entrepreneur can be a tough job. Simply having the right skills and expertise may not be enough in today’s faced paced times. You need to constantly keep yourself abreast with what is happening in the industry, both within the country and globally, to remain on top of your game, given the ever changing market conditions. And this is where global exposure plays a key role in keeping you ahead of others in the race.
I firmly believe that no text book can teach you what global exposure can. Moreover, with the world gradually evolving into a global village, geographical boundaries are no longer a constraint for businesses. This makes it all the more important for startup founders to keep their eyes and ears open to the ‘business buzz’ around the globe and seize the right opportunities.
Given below are some advantages that startups can derive if the founder has good global exposure:
Gain insights about the local ecosystem
While an entrepreneur may have all the technical and soft skills for the job, it is important that they actively participate in entrepreneurial summits/conferences across the world. Renowned industry bodies such as TiE, Nasscom, iSpirt etc. regularly organize events that can add tremendous value to entrepreneurs. They even offer an opportunity to startups to get to be a part of such prestigious events across the world and gain insights about the local startup ecosystem there.
Network with globally renowned ecosystem enablers
Above all, they serve as a great platform to connect with the people who matter and can take you far. Such connections help such startups make faster inroads into obtaining orders, strengthening their supplier chain etc.
For instance, there’s a huge opportunity to collaborate with large and renowned companies and offer your solution or seek funding from large VCs that are looking to invest in disruptive ideas from across the globe. By tapping into such opportunities, you also add more credibility to your startup and will find it easier to catch the attention other stakeholders in the ecosystem.
Easier to scale across geographies
You can use the insights gained to understand the nuances of different markets and identify the right ones to scale up in and take your business to new heights.
Many startups such as tech startups need to scale up at a faster pace, since in many cases the local market may not yet be ready for the product or service on offer while in the foreign markets there could be a big demand for them. Going global will not only help them garner a larger customer base but also gain better paying customers.
Moreover, founders with global exposure are in a better place to be in the know of the relevant local laws and regulations governing global markets abroad, thus putting them on better stead.
Global exposure will also better equip you to understand different cultures and the protocols they follow. You never know when these skills can come handy! If you have global clients, business partners or team members, being acquainted with their local protocols will certainly prove to be an advantage.
More open minded outlook
In general, having global exposure makes a person more open minded and accepting of new ideas and beliefs. This quality can be a great asset for an entrepreneur since many a time need to operate outside their comfort zone to accomplish their dream. Being open minded enables you to look at new experiences and perspectives with a mature outlook and embrace those that that’ll benefit you or the startup.
While global exposure alone may not be enough to boost your prowess as an entrepreneur, if clubbed with a great business idea, acumen and skills for the job, it can amplify your potential as an entrepreneur to a great extent and open up new vistas for you.
[The article has been authored by Mahesh Nair, CoFounder of PicsDream, a platform for photographers and videographers to share, showcase and monetise their art]