Read the full script of Module 2, Episode 9 of the Global Growth Master Class below. Want to get certified on global expansion? Simply click here to access the complete course today.

Bringing a number of the concepts from this module, let’s answer the question that is likely on your mind - how do I shift my organization from the Legacy Mindset (or at least some legacy mindset tendencies) to the global class mindset?

The key is to implement the core elements outlined:

1. Think global from this point forward - Evaluate whether your product, team, processes, and culture are hard-coded for your initial market or truly are built to be localized in new markets or are built for universal appeal. Think of future strategic markets and align them with your international talent and localization strategies

2. Bringing diversity into your organization, with native knowledge of local markets by setting clear goals around building diverse teams? Think about the number of languages, countries, and cultures represented within your organization

3. Shifting HQ’s role from being command and control, telling others what to do, instead being an enabler and supporter of local teams that must adapt to fit the local context

4. Setting aside the “Company Way” and proactively seeking to understand and then adapting the business to fit the “Local Way” things are done. You must realize that customers across the world are coming to expect that products and services coming from other countries are adapted to fit their local context.

5. Finally, and most importantly, the company must be committed to and ready for global growth, something that will be discussed a couple of modules from now. Leadership must be willing to change, otherwise, any attempt to shift from Legacy to Global Class mindset will fail.
   
   
   

Let’s recap what we covered in this module

We discussed how many companies will approach global expansion the wrong way, either attempting to do things the company way and implement the model that worked in their first market globally, or prioritizing speed, treating the quest for product-market fit in each market individually, not minding the complexity that comes with this strategy and hitting a wall after entering a few countries and realizing they didn’t build for global scale. We answered the questions:

• What mindset do companies who are successful at reaching global scale have?

• What do and don’t these top companies focus on? How do they think differently?

• How do top companies build global teams?

• So, what Role does HQ play in expansion for Global Class Companies?

• How do Global Class Companies think about the disruption their entry brings to a local market?

We introduced you to the Global Class Mindset, how the world’s fastest-growing companies think differently than legacy-minded companies, which gives them a competitive edge in today’s business world. 

We talked about Thinking Global Day One, setting the right vision, taking advantage of distributed work, building a global team, the new role Headquarters should play, building a global class strategy, two-way innovation, and more. 

As you look to implement the concepts outlined in this module within your company, consider the following questions and outline your answers

1. Does your leadership team think global from day one?

2. Where does your HQ sit on the spectrum between command & control and enablement & support?

3. Which aspect (vision, talent, role of HQ, and strategy) of the Global Class mindset is your organization best at? Which does it have the most room for growth?

An important exercise that many companies don’t actively take themselves through is measuring the organization’s level of readiness for scaling globally. In fact, most companies don’t even have an established set of criteria to determine whether they are ready to take on global growth, instead relying on ideas from CEO-level officers and the board, falling into one of the two pitfalls outlined above, thinking that you can do things the Company Way and succeed in global markets or thinking you can just iterate your way to scale, creating disparate models in multiple countries and creating operations that are nearly impossible to build scale around.

👉 Click to Get Certified on Global Expansion 👈

To help you and your organization evaluate if you are ready for global growth we have developed a quick and simple assessment that will provide you with a Global Readiness Score, evaluating whether you are ready for global and any risks that should be mitigated before moving forward with global growth initiatives. 

The Global Readiness Score is an important baseline to understand before exploring other modules to understand some of the gaps that may be present that would set any expansion initiative your company would take on a trajectory for failure. 

After you have taken the Global Readiness Score assessment, analyze the areas where you felt your answers were weakest and build a plan to get adoption of the Global Class Mindset.

This module and its exercises are meant to build the right mental foundation for how to approach global growth, a topic we expand upon when we discuss Organization Readiness in more detail. But prior to doing this, in the next module we will explore the most important and most difficult aspect of global growth - people. We will explore the right individual mindset that we have found in our research is a catalyst for the success of many companies who have reached global scale, the Interpreneurial mindset as well as how to build thriving local teams by implementing the Global Class Team Building Framework.

NOTE: Don't miss out on the next episode! If you want to continue learning about global expansion strategies and dive deeper into the course material, simply click here to access Module 3, Episode 1 of the Global Growth Master Class.