These factors can all be used to drive startup growth.
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There are many ways to promote the expansion of startups: The market where they start operation, the customer behavior and how it can help you improve your service. Also, embrace the dynamic nature of business development, particularly when supported by digitization and technology.
Justo’s experience was that we started in Chile (a country with less than 20,000,000 inhabitants), so expansion was always in the plans. Especially when we realized the challenges faced by the sector of restaurants in other countries and the need to help them regain control over their operations through digital solutions.
To understand the best way to establish a connection, we focused our efforts on getting to know the specificities of each country. We currently have an operation in Mexico, Colombia and Peru, and we are soon to open one in Costa Rica, Ecuador, and Peru.
To be successful in achieving healthy, sustainable growth, founders must have clarity about the following:
How important it is to have a great team. Our focus was on finding a handful of very talented people. A good team of people is profitable for both the long and short term. They will make interesting contributions and help you achieve business goals.
Maintain constant dynamism. Recognizing the business cycles is essential. Incorporating new clients means providing tools to help them improve sales and grow their businesses, which in turn drives the sector. The service can be promoted to new markets and developed to expand into other countries. To recognize opportunities and capitalize on them, it is important to not lose sight of your business.
Get to know your market: It is important that you first get to know the market. Even within the same area, different people have different needs. It is important to recognize how to reach other countries. What words should they use? Which concepts are more relevant and closer to your clients? Which information is the most important to make decisions?
It is a good idea to create a growth plan with clearly defined objectives. This will translate into an organizational and operational infrastructure which allows for it to be implemented in a consistent and sustainable manner.
Publiated at Thu, Aug 5, 2021, 08:58:21 (+0000).