New market entry strategy – New geographies & customer segments

The biggest pain point for most tech founders is anchored around how to scale revenues in line with the commitments made to their investors. Many a times, the founders, who are acutely strong with their technology and product vision, struggle with how to translate that beyond the geography and customer segments that they are familiar with. We were tasked with the challenge of helping this specific ‘product as a service’ start up with:

  • Prepare a medium-term growth strategy to meet the commitments and expectations of the investors, paving the way for the next rounds of funding
  • Define a clear market strategy for entry and expansion into key markets of interest
  • Define a sales strategy supported by supplier identification and development
  • Participate in investor meetings and customer closure conversations
  • Fine tuning marketing outreach, communication, and other collateral

Working closely with the founding members of the company, the leadership team and representation from the investor, we helped the organization delivering the following to pave the way for success and start a new journey in a new role with the company:

  • Reviewed and redefined the strategy to ensure that the ‘Purpose’ and the problem that is being solved is articulated in the most compelling manner.
  • Redefined the market for the company’s product by expanding the industry and functional applications – this just opened a whole array of customers that were not in consideration.
  • A detailed market entry strategy supported by business targets, people and processes required to ensure success of the entry strategy
  • Assigned clear roles within the organization with responsibility and measurable deliverables for key players in the organization driving the entry strategy
  • Defined what success should look like at the end of 6, 12 and 24 months.
  • Identified key vendors to support the actual ‘Go-to-market’ with lead generation and lead management processes.

Given the tight availability of resources (many funding), we ensured we participated much more than the committed scope to ensure that the client felt comfortable to include us in the advisory board with stake in the company! This ensured that we worked hard enough to make sure the organization succeeded.

During the first 6 months of the engagement, there was a clear 3 year strategy for growth and market penetration with clear milestones defining success. An internal organization was put in place with the mandate to implement the strategy and succeed. Over 30 new customers were identified in the new geographies and some pilots were signed off.