Top venture capital firm 500 Global featured on their Rise of the Next podcast Aaron McDaniel and Klaus Wehage, co-authors to the Global Class book, on “Tips for Founders on Scaling Globally”.

Key takeaways include:

• [min 4:40] – Klaus points out that their research uncovers patterns and common mistakes that companies typically make when scaling to international markets. He notes that even Silicon Valley-based companies are not successful at international expansion … and often build with their home market in mind. Startups in Silicon Valley often pursue new markets when they’ve raised Series C, D, E, which results in them  "hard-coding" their business for the US market. Luckily, growth stage companies from the Bay Area have sufficient capital that allows them to make mistakes along the way and for the transition to become a truly Global Class company. 

• [min 8:40] – Aaron disagrees with the idea that companies are 'born global' because “it’s impossible to find product-market fit in multiple markets all at once…” Instead, he proposes, “think global from day one… building the company in such a way that it can be localized and/or universalized.” An example he mentions is that of Blablacar whose co-founder Frederic Mazzela shared a concept called “Building for Two Markets”. This framing changes the way one builds his/her business, everything from his/her product, teams, processes & structures as well as company culture. etc.

About Global Class

The Global Class team has developed THE playbook that teaches organizations the right mindset, culture, and strategies to successfully build global businesses. Through consulting engagements and practical tools (+ case studies built from conversations with over 400 executives from the world’s fastest-growing companies), we help executives with companies valued at $1B to $100B reach global scale. From market entry to global scale, we help companies build the foundation for successful global growth through management consulting services, customized platforms, and more.