Read the full script of Module 7, Episode 6 of the Global Growth Master Class below. Want to get certified on global expansion? Simply click here to access the complete course today.

Let’s recap what we covered in this module.

We discussed Localization Premium in more detail, providing deeper insights into how to better think about and manage complexity.

We introduced you to a powerful tool to map out complexity, the Localization Premium Analysis (LPA)

The LPA can be used to analyze new markets, prioritize markets, communicate the required go-to-market and operating model changes to gain traction in a new market, visualize the risks of a market entry, overcome myopia and siloed thinking within cross-functional teams, align on a growth roadmap, provide the foundation for an expansion playbook, track localization implementation and identify localizations that can be scaled in multiple markets.

👉 Click to Get Certified on Global Expansion 👈

We then provided you with the correct point in time to make a market selection decision.

We also detailed important concepts like Familiarity Bias and Linked Markets. Finally, we helped bridge from analysis to Market Entry Strategy Creation, where Localizations are prioritized and cost out using the Total Cost of Entry Formula.

Now you understand how to map out localizations, manage complexities, and build a market entry strategy.

In the module, we helped you answer the following questions:

● How do you map out and organize the localizations for a new market?

● How to determine the level of complexity a market has?

● How do you build a localization plan and budget for these changes?

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

1. How are you balancing localization and complexity?

2. Which premiums are you having the most difficulty with or were unexpected when expanding internationally?

3. What challenges are you facing when it comes to members of your organization’s leadership team having myopic views about global growth initiatives?

Important Exercises:

To apply the concepts from this module, we suggest that you go through the following quick exercises related to the Complexity Mapping and Market Entry Strategy creation processes:

(1) Fill out an LPA for a market that you are targeting, or have already entered in. For a market you are targeting, look at your Business Model Localization Canvas, your BMLC for that market, consider how different the required model from the hypotheses for the new local market would be, consulting the far-right column on the LPA, and calculate all the localization premiums, mapping out the dots. For a market you are already in, map out what the anticipated localizations were at launch and what they ended up being – compare the difference

(2) Create a list of localizations from the BMLC and LPA analyses and prioritize them, calculating an estimated Total Cost of Entry for each.

If you are interested in digging deeper into the topic of complexity, discussing how your company is localization, or identifying gaps in your localization planning processes, we would be happy to have a free consultation with you. Just schedule a call with us and we can help.

Now that you have completed the Market Readiness & Strategy Development stage of the Global Agile Methodology, you are ready for Market Entry, which involves entering the market, then iterating and pivoting until you achieve product-market fit in the local market, which signifies the end of the Market Entry phase.

Then, you enter the Market Building stage where you continue to iterate on your model, paying particular attention to the Operational Model, to find operational and culture fit, which we have called Company-Market Fit. It is at this stage that a company must manage localizations in multiple global markets at once. Reaching Company-Market Fit signifies the end of the Market Growth phase. Then companies transition into the Global Scale phase where companies reach Market Maturity in many markets.

These steps to come, and all of the earlier steps in the Preparation and Market Readiness & Strategy Development phases, require processes and structures to support growth and process through each of the stages. In the next module, we will detail structures, which we call. Momentum Builders that support and accelerate global growth.
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 8, Episode 1 of the Global Growth Master Class.