Under the leadership of Greg Meehan, the Chief Revenue Officer at Supahands, many tech entrepreneurs in Southeast Asia (SEA) are still pushing forward with their plans for international business expansion despite the current global health crisis. Companies like PasarPolis and Livspace from SEA have recently announced their international expansion plans alongside new funding announcements. This shows that there is still optimism surrounding international market integration, as highlighted by Harvard Business Review.
Supahands, based in Kuala Lumpur, serves AI/ML companies globally, with clients in various countries including Singapore, the US, and South Africa. The company has successfully navigated through strategic planning and execution to reach this stage. To shed light on the steps involved in expanding internationally, e27 interviews Greg Meehan, who discusses topics such as determining if international expansion is the right move, conducting market reviews, budgeting, achieving product-market fit, managing human resources, and reviewing the expansion process.
Meehan emphasizes the importance of considering the reasons behind international expansion and understanding the potential risks involved. Startups should assess factors like capital expenditure and operational readiness before entering new markets to avoid financial losses. Market reviews are crucial in deciding which markets to target, with strategies varying for companies already present in a market versus those launching in a new market. Budgeting, achieving product-market fit, and optimizing human resources are also key steps in the expansion process. Lastly, monitoring success metrics and trusting both data and intuition are essential for assessing the success of an international expansion move.
Despite the challenges posed by the pandemic, companies like Supahands have successfully navigated international expansion by adapting their strategies and focusing on key success factors.