Scaling a startup has its challenges. But for the ambitious founder, going global can be an important goal. So, is it worth it? Today, we are delving into why and how startups expand abroad, including a look at localization for startups.
Funding and global growth
Startup funding surpassed $600 billion worldwide in 2021. Startups have been found to support economic growth and can bring about societal change (World Economic Forum). Even so, the journey to success isn’t simple. Almost two-thirds of startups never deliver a positive return on investment.
With that in mind, should founders err on the side of caution and think smaller? A recent Forbes article suggests not. Startup expert Phil Hall explains, “the challenges to global growth are varied and difficult, but for the companies that persevere and reach that level, the rewards are very much worth the struggle”.
But what are the rewards of a global outlook? Amongst others, international success could see:
- Improved reputation
- Access to a wider talent pool
- The chance to diversify
- Broader customer base
Of course, this isn’t always the case. Whatever path you decide to follow, it’s important to analyze your business and your opportunities to find out what will work for you.
Localization for startups: tips
- Think about localization from the get-go
When creating a product or service, it’s easy to focus on local markets that you know. However, if you zone in on one area, you might find it more difficult to expand later. Building expansion and localization into your plan can help you create a solid strategy that will work abroad.
- Analyze the markets
Localization doesn’t mean creating one product for your home country and another for “abroad”. Nor does it mean assuming customers from countries that speak the same language will want the same product, service, or content. Localization for startups requires market analysis so you can work out what people want and how you can provide it. This is best done with a local expert.
- Consider your brand
It’s not just the product or service you provide that needs to be localized. Your brand needs to speak to customers too. Does the way you express your values in the new language create the same impact? Do your visuals have the same meanings? Are your social media posts appropriate? Is your content available worldwide? Localization for startups takes careful consideration from all angles.
- Work with knowledgeable local experts
To really understand what works in a certain region, you will need the input of local people. This might be hiring from the area or outsourcing to a company such as a language services provider. Ideally, they should work with native speakers from the region in question and understand your industry as well as theirs.
We work with startups
At Future Trans, we know localization for startups. Our team can help you transform your products, services, and brand for new audiences across the MENA region. We have over 25 years of experience in translation.
This extensive experience means that we can navigate even the most technical topics in MENA languages. Find out how we can help with your project.
