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Abroad

abroad

According to the Institute of International Education, the United States hosted more than 1.1 million international students in the 2023-2024 academic year. Although this number has increased yearly since the COVID-19 pandemic, these latest numbers mark an all-time high. That being said, even though the United States has become a leading destination for international students, especially in the technology sector, students who wish to journey to the land of red, white, and blue must go through a long and complicated process before they can enroll in the school of their dreams. While many people discuss the challenges of international studies, like language barriers and cultural differences, there are often even bigger challenges, such as applying for visas or finding a place to live during and after studies. Navigating the challenges of being an international student Thankfully, resources are available for students struggling with these challenges, and Otips provides a centralized resource for international students to simplify their educational and immigration journeys. Otips has centralized and streamlined the study abroad process for thousands of students globally, reducing administrative burdens and improving accessibility to U.S. educational opportunities. From enrollment to visa guidance, Otips offers personalized support that helps them navigate the study abroad process comfortably and easily. Otips was inspired by the experiences of its founder and CEO, Botir Nasridinov. “When I first arrived in the U.S. to attend a language school, I ended up overpaying for my education because I wasn’t familiar with the local system and available options,” he explains. “This lack of information inspired me to create a platform to help students find suitable schools. Recognizing a critical gap in resources for international students, Botir Nasridinov developed Otips, a first-of-its-kind platform that revolutionizes how students navigate complex processes like admissions, visa applications, and housing, fundamentally transforming the study abroad experience. “The challenges I faced as an international student — high living costs, difficulty selecting the right academic programs, and housing problems — motivated me to found ClassTrip,” he says. “My goal was to create a platform that provides students with access to affordable education, housing solutions, and healthcare advice, making studying abroad more accessible and less costly.” Under Botir Nasridinov’s leadership, Otips has been recognized as a groundbreaking platform in international education, forming strategic partnerships with over 200 U.S. educational institutions. “My mission is to remove barriers for students and help them achieve their dreams confidently and easily,” he says. How Otips helps students in their study abroad process This platform, ClassTrip, would soon evolve into the service known as Otips today. The primary service of Otips is its “education marketplace,” which helps students from around the world with counseling and admissions for over 200 educational institutions in multiple states in the United States, including language schools, colleges, and universities. This can help streamline the application process, which can be quite complex. Furthermore, Otips partners with several institutions to offer scholarships and tuition discounts of up to 70%, allowing students to achieve their dreams of studying internationally much more affordably. Beyond helping international students find and apply to the right schools, Otips can also assist with their visa applications. The team at Otips is experienced in a wide range of immigration cases, allowing them to ensure that applications are prepared accurately to maximize an applicant’s chance of approval. Applicants can also get support and guidance for other essential steps in the visa application process, including the all-important and often stressed-about interview. The other aspect of international study that can be difficult for students is finding housing. Many schools in the United States do not offer housing assistance to international students, leaving them on their own to navigate the process of finding a place to live in a country that they often have never been to before. It can sometimes take weeks or even months for international students to find safe, affordable housing situations. Otips offers resources that help students looking for accommodations connect with hosts, giving them greater value and allowing them to focus more on discovering their destination and enjoying their trip. Studying abroad is an incredibly enriching experience, especially for those who want to take advantage of America’s educational opportunities in fields where the country excels, such as technology. Navigating the application and visa process can be difficult, but with the help of services like Otips, students can get the support they need to have the study abroad experience of their dreams. According to the Institute of International Education , the United States hosted more than 1.1 million international students in the 2023-2024 academic year. Although this number has increased yearly since the COVID-19 pandemic, these latest numbers mark an all-time high. Institute of International Education Institute of International Education That being said, even though the United States has become a leading destination for international students, especially in the technology sector , students who wish to journey to the land of red, white, and blue must go through a long and complicated process before they can enroll in the school of their dreams. While many people discuss the challenges of international studies, like language barriers and cultural differences, there are often even bigger challenges, such as applying for visas or finding a place to live during and after studies. especially in the technology sector especially in the technology sector Navigating the challenges of being an international student Thankfully, resources are available for students struggling with these challenges, and Otips provides a centralized resource for international students to simplify their educational and immigration journeys. Otips has centralized and streamlined the study abroad process for thousands of students globally, reducing administrative burdens and improving accessibility to U.S. educational opportunities. From enrollment to visa guidance, Otips offers personalized support that helps them navigate the study abroad process comfortably and easily. Otips Otips Otips was inspired by the experiences of its founder and CEO, Botir Nasridinov. “When I first arrived in the U.S. to attend a language school, I ended up overpaying for my education because I wasn’t familiar with the local system and available options,” he explains. “This lack of information inspired me to create a platform to help students find suitable schools. Recognizing a critical gap in resources for international students, Botir Nasridinov developed Otips, a first-of-its-kind platform that revolutionizes how students navigate complex processes like admissions, visa applications, and housing, fundamentally transforming the study abroad experience. “The challenges I faced as an international student — high living costs, difficulty selecting the right academic programs, and housing problems — motivated me to found ClassTrip,” he says. “My goal was to create a platform that provides students with access to affordable education, housing solutions, and healthcare advice, making studying abroad more accessible and less costly.” Under Botir Nasridinov’s leadership, Otips has been recognized as a groundbreaking platform in international education, forming strategic partnerships with over 200 U.S. educational institutions. “My mission is to remove barriers for students and help them achieve their dreams confidently and easily,” he says. How Otips helps students in their study abroad process This platform, ClassTrip, would soon evolve into the service known as Otips today. The primary service of Otips is its “education marketplace,” which helps students from around the world with counseling and admissions for over 200 educational institutions in multiple states in the United States, including language schools, colleges, and universities. This can help streamline the application process, which can be quite complex. Furthermore, Otips partners with several institutions to offer scholarships and tuition discounts of up to 70%, allowing students to achieve their dreams of studying internationally much more affordably. Beyond helping international students find and apply to the right schools, Otips can also assist with their visa applications. The team at Otips is experienced in a wide range of immigration cases, allowing them to ensure that applications are prepared accurately to maximize an applicant’s chance of approval. Applicants can also get support and guidance for other essential steps in the visa application process, including the all-important and often stressed-about interview. The other aspect of international study that can be difficult for students is finding housing. Many schools in the United States do not offer housing assistance to international students, leaving them on their own to navigate the process of finding a place to live in a country that they often have never been to before. It can sometimes take weeks or even months for international students to find safe, affordable housing situations. Otips offers resources that help students looking for accommodations connect with hosts, giving them greater value and allowing them to focus more on discovering their destination and enjoying their trip. Studying abroad is an incredibly enriching experience, especially for those who want to take advantage of America’s educational opportunities in fields where the country excels, such as technology. Navigating the application and visa process can be difficult, but with the help of services like Otips, students can get the support they need to have the study abroad experience of their dreams.

Helping International Students Achieve Their Dream Study Abroad Experience

مساعدة الطلاب الدوليين على تحقيق أحلامهم في الدراسة بالخارج

Подпомагане на чуждестранни студенти да постигнат мечтаното обучение в чужбина

Ayudando a los estudiantes internacionales a lograr su sueño de estudiar en el extranjero

Axudando aos estudantes internacionais a lograr a súa experiencia de estudo no estranxeiro soñada

Pomaganje međunarodnim studentima da ostvare svoje iskustvo studiranja u inozemstvu iz snova

Օգնում է միջազգային ուսանողներին հասնել իրենց երազանքի ուսման արտերկրում

Membantu Pelajar Internasional Meraih Impian Mereka untuk Belajar di Luar Negeri

留学生の夢の留学体験の実現を支援

Ajudando estudantes internacionais a realizar a experiência dos sonhos de estudar no exterior

Помощь иностранным студентам в достижении их мечты об обучении за рубежом

Pomáhame zahraničným študentom dosiahnuť vysnívanú skúsenosť so štúdiom v zahraničí

Помагање међународним студентима да остваре своје искуство студирања у иностранству

There are a few key things you need to keep in mind when considering ‘how can I work remotely in another country?’ Here is your guide to answer all these questions. Many people seem to push for remote work ideas, despite many corporations applying ‘back to office’ policies. However, working remotely abroad does include a few complications. From applying for entry visas to managing taxes. Not to mention, all the tech preparation you need to do before setting foot on a plane. Read on so you can fully prepare for any bumps you might come up against as you prepare to work remotely while traveling. Staying Connected Without a doubt, you need a stable and reliable internet connection to work online. While many urban centers have high-speed internet, rural or remote areas may have limited connectivity. So, what are your options for an internet connection? An eSIM, short for embedded SIM, works like a regular SIM card, just in a more convenient way. eSIM providers like , or others allow you to install the app on your phone in order to roam mobile data with local fees and have an uninterrupted internet connection. Saily , Alosim Public Wi-fi. You can get it at the airport, your hotel, or the nearest cafe. The issue with this option is that public wi-fi is not safe. It is available to everyone, including hackers who can take advantage of this Wi-Fi's lack of security, so it is not recommended. Roaming. While it’s the most convenient way to get your mobile data because you don’t need to do anything extra to get the connection, charges are known to be high depending on your provider and travel destination. Local SIM cards. This solution is on the cheaper and safer end of the spectrum, yet, this option poses some risks too. While you switch between your primary and new SIM card, you won’t be able to see missed calls from your friends and family. You can also lose SIM cards and need to get a new one. Security on Your Remote Work Abroad Stay updated on travel warnings Though beautiful and rich in culture, some destinations also pose risks: disease outbreaks, natural disasters, protests, or other harmful activities may happen on your visit. Many travelers use travel warning apps like or others that are designed to help you stay out of trouble. Sitata Always use a VPN A VPN encrypts your internet connection, ensuring that your data remains secure and inaccessible to unauthorized third parties. If you are working on some important projects, this encryption is particularly crucial when accessing sensitive information, like company documents, financial records, or just personal emails, while working from abroad. Things to Consider Before Going to Work Abroad In addition to making sure you are connected and secure, there are some things to keep in mind when working from different locations. Firstly, research the laws and regulations, taxes, etc. This would be especially important if you are working as a digital nomad and a freelancer, or you are in a country that needs a work permit. Additionally, you may need to navigate the complexities of double taxation if both your home country and the country you're working in impose taxes on your income. Then, keep in mind the change in time zones. Not only if you have different meetings or online events you will need to tune into, but also if your place of work has specific work hours, that you are online at the required time and not booking calls in the middle of the night with your colleagues. Finally, think about communication. If you are working from a different country than the rest of your team, or you have international clients, think about what time you are sending your emails or messages and when you are contacting your colleagues. Can You Work Remotely Abroad? The answer to whether you can or can not work from a foreign country depends on the organization that you work for or have a contract with. Companies must comply with strict employment regulations and taxation laws. Aspects such as minimum wage, overtime payments, and payroll filing all change depending on each country. As a result, locations around the globe may restrict where and how you can work. Before making any arrangements, you should approach your employer, and discuss your remote work details. Can You Work Remotely From Another Country Temporarily? ‘Who will notice that I popped off from the office for a few days to go to the sunny beach’, right? Reality is a lot more complicated. Many employers have applications installed on your computer to monitor device security and activity. Change of country can be noticed by your employer. Another problem associated with short-term temporary work usually comes from law-based issues for your company. Visa and tax applications and privacy laws defer throughout each country, and for example, companies in the USA might not meet the data protection rules that are required in the European Union. This limits your ability to work remotely in a foreign country. Not to mention, that in most instances where you travel with a visa, working while on a tourist visa is prohibited. Considering all that, if you only plan on working remotely abroad for a few days or weeks, a much better solution is to take a holiday instead of searching for remote work solutions. Working from abroad offers great opportunities for personal and professional growth, allowing you to broaden your experience in new cultures while pursuing your career goals. However, it's essential to approach this lifestyle with careful planning and consideration of the legal, and logistical factors involved. By understanding the legal requirements, internet accessibility, safety, and time zone management, you can navigate the challenges of working from abroad successfully.

Working Remotely Abroad – What Do You Need to Know? 

Should American Law Apply to Conduct Occurring Abroad?

Going Abroad

Every country possesses unique abilities and advantages, leading them to excel in specific areas. For instance, France is renowned for producing high-quality wines, while Japan is famous for its cutting-edge technology. Through international trade, countries can exchange their finest products, services, or resources with one another. This process involves buying and selling goods on a global scale. To capitalize on these opportunities, we can leverage the ArbStore. Resources, products, and services, besides varying in quality, also differ significantly in price from country to country. Surprisingly, price disparities aren't always tied to differences in quality. Sometimes, identical or similar products can be much cheaper to produce in certain locations while being scarce and expensive in others. Tropical fruits are likely a great example of this. An avocado is an avocado, no matter how you see it. However, a kilogram of avocados will cost around $5 in South Korea, while it’s around $0.8 in Colombia. That’s a difference of 525% for the same product. And why? Because Colombia is a top avocado producer, while South Korea has to import (buy) most of them from abroad. That involves distribution charges, custom duties, and more along the long way. Sometimes, though, importing directly from manufacturers is the best path to find cheaper things. Even dealing with taxes, import, and delivery fees, the offer could be so enticing (and legit) that it’d be worth it. Electric Vehicles (EVs) and other products from China are the case for most countries. Let’s explore some rough profit figures and how the ArbStore could improve the deal. A risky deal in a box Jason Torchinsky, a US citizen, bought a small EV from China a few years ago. It’s a somewhat slow and pretty thing dubbed “Changli Freeman”, and it costs around $1,000. Even if it’s not very potent, that’d be quite the deal for any kind of vehicle in most countries. surprisingly useful and durable, and he bought it through the online marketplace Alibaba. The car arrived at his house in a box. He found it The whole deal, including unavoidable fees (taxes, batteries, delivery, etc.) . Probably by then and without a doubt by now, the cheapest EV in the United States $20,000 per unit. A stunning difference of over 566%, because China controls the battery supply line and no Chinese company building EVs in the USA. settled at around $3,300 per one delivered electric car to his door in 2020 is around is currently https://www.youtube.com/watch?v=qxl_vgYP3Rg&embedable=true Of course, this isn’t a unique case. In 2022, for instance, bought eight automotive lifts from China for $1,200 a piece, while on local US markets like Walmart, they’d be between $4,500 and . After adding the delivery, taxes, and other legal fees, he found out that every lift from China increased its price to $3,000. Still, the deal was up to 166% cheaper than just buying the lifts nationally. Rob Ferretti $8,000 per unit Why is not everyone buying cheaper stuff from Asia and other countries, then? Well, the risk is considerable. As Ferretti pointed out, . The company established a reputation system and acts as a neutral intermediary. But, sometimes, that could not be enough. There’s a about the expectations and reality of shopping online, indeed. The results are often disappointing. the vendor could have been a scammer, because marketplaces like AliExpress only connect the parties, and don’t sell the products themselves popular joke Potential costs from the risk The issue with online marketplaces is that, in most of them, you should pay first for the product. Afterward, if you never receive it or receive something faulty, it’s unlikely that you will recover all your money. If you do recover the money, it’ll never be without a lot of wasted time, filled claims, uncertainty, and even a high arbitrage fee. In the case of companies (let’s say that your company bought wholesale from Asia), the fees for international dispute resolution are very high. Escrow agents and arbiters are typically experienced lawyers whose fees may vary depending on numerous factors like the complexity of the case, the country, and the funds involved in the contract. According to , “For a relatively simple [international] arbitration requiring 1,500 hours of legal work, for instance, if billed at the rate of USD 300/hour, legal fees would equal USD 450,000 per arbitration.” Aceris Law LLC Some companies offer the service including a filing fee between $2,000 , besides a high percentage to properly manage the case. and $6,000 That’s if you signed a proper contract and found the other party to be accountable for their actions. If you didn’t sign something legally binding, you can lose all your invested money. Yet, that’s no longer an issue with the ArbStore. Contracts with Arbitration: A Trade The , which is used in the ArbStore solution, offers an easy option to prepare and send a contract with arbitration to any other connected party. They’re smart contracts that offer secure decentralized escrow protection for two-party agreements, eliminating the need for mutual trust. They can work for individuals as well as businesses, and they’re particularly well-suited for international trade. Obyte wallet However, if one of the parties misbehaves, the other can call an expert arbiter to solve the dispute. They’re (human) professionals registered in the new ArbStore with their real names and are available to solve certain types of disputes in exchange for a reasonable fee. That’s currently between 2% and 5% of the involved contract, with no other requirements or tariffs. These contracts can lock the funds until pre-set conditions are met by the parties. An example with automotive lifts Let’s imagine here that an American automotive Company A wants to cut costs and increase its profits by buying 20 of those Chinese lifts to increase its storage space. They can’t trust an online marketplace, so they decide to contact the manufacturer directly and offer them a contract with arbitration. If the supplier agrees, both parties connect their through the Chat Tab, prepare the shared terms, and select a well-suited arbiter from the . Their address is included in the contract from the beginning, but no fees are required if there’s no dispute. Then, Company A pays the agreed amount to the contract, and the funds are locked. Obyte wallets ArbStore If the Chinese supplier had any kind of problem, they can refund the whole amount with a click of a button as well. Now, if one of the parties misbehaves, the other can call the arbiter and pay for their fees to start reviewing the case. They would be able to release the funds locked in the smart contract to the winning party. If Company A receives the products without issue, they can release the funds with a click of a button. To sum it up: the funds will always be safe in the whole process, and safety is offered to both parties from the start. Company A would be paying $1,200 per piece directly to the seller, without intermediaries and high transfer fees. Of course, they’d have to take care of the taxes and customs themselves, outside the contract. Meanwhile, the Chinese supplier would receive the funds after the buyer’s inspection, and with protection against buyer’s misbehavior. It’s a win-win situation for both parties. This way, we can say that the By using smart contracts and expert arbiters, it ensures secure and efficient transactions, making buying cheaper products from abroad a viable and profitable option for all parties involved. provides a solution for individuals and small and medium businesses to engage in international trade with drastically reduced risks. ArbStore Featured Vector Image by Freepik

Using ArbStore's Smart Contracts to Profit on International Trade — or Buying Way Cheaper Abroad

Usar los contratos inteligentes de ArbStore para obtener ganancias en el comercio internacional o comprar de manera más barata en el extranjero

Utiliser les contrats intelligents d'ArbStore pour profiter du commerce international – ou acheter bien moins cher à l'étranger

अंतर्राष्ट्रीय व्यापार पर लाभ के लिए ArbStore के स्मार्ट अनुबंधों का उपयोग करना - या विदेश में बहुत सस्ता खरीदना

ArbStore のスマート コントラクトを使用して国際貿易で利益を得る — または海外でより安く購入する

Usando os contratos inteligentes da ArbStore para lucrar com o comércio internacional – ou comprar muito mais barato no exterior

Sử dụng hợp đồng thông minh của ArbStore để kiếm lợi nhuận từ thương mại quốc tế — hoặc mua theo cách rẻ hơn ở nước ngoài

使用 ArbStore 的智能合约在国际贸易中获利 - 或者在国外购买更便宜的产品

Welcome to ’s Writing Prompts! Would you like to take a stab at answering some of these questions? The link for the template is . HackerNoon HERE What is the coolest technology that you have seen while traveling? Where did you see it? Do you have a photo? Please share it. Is this a type of technology you would like to see wherever you live? Why? What are some other notable technologies you have seen while traveling, where were they located? What has been your favourite country to travel to? Why? Which nation do you think will have the fastest boom in technological innovation in the next 10 years? Why? Is there anything else you have to say on the topic? Would you like to take a stab at answering some of these questions? The link for the template is , just start writing! Interested in what others had to say in their answers? Click . Interested in reading the content from all of our writing prompts? Click . HERE HERE HERE

[Writing Prompt] Cool Tech Abroad Interview 

Want to move your tech career abroad? We have 5 simple tips that will help you land your dream job faster, so let’s just dive in. Do not say – I’m looking for a job with visa sponsorship Employers are always looking for talented people, so , not the fact that you are in need of a sponsor. This should be mentioned but why are you going to waste valuable word count and space at the top of the page to say it? It can be placed elsewhere. demonstrate your skills first Remember, you only have 15 seconds at best to grab the recruiter’s attention. Chances are, they are going to read the first couple sentences very briefly and then skim your bullet points and other bold print. They want to quickly get a sense that you’re the right candidate. You can give them that sense by focusing on your skills. Fish in the right pond where companies are looking for new employees internationally in the first place. Don’t go looking for opportunities where they scarcely are found. is a great place to look for your next job because all the companies here are ready to sponsor you and bring you into a brand new place. Use specialized platforms/job boards StackRaft Get References and ask if it’s possible that you can be referred to their company. Instead of saying ‘I’m looking for a job abroad’, you can instead say: ‘I might be a good fit for your open positions X and Y that I’ve seen on your website. Can you consider me as your reference?’ Use LinkedIn to find your old friends and connections around the area you are looking to relocate to Portfolio On average, you have 5 to 15 seconds from a recruiter or a hiring manager to catch their eye. that you can be proud of. Do NOT use old-fashioned CV templates. Do NOT create an extra long resume. Some people turn in resumes that are 7 pages long. You need to condense down to a 1-2 page resume at most. Only include your most relevant experiences and skills. The rest is fluff. Bullet points should also be clear and concise, with keywords/achievements in bold, as they are going to skim. Invest your time in the resume A stunning projects timeline is what will land you a job! Interview Practice You will be surprised how similar the questions are that you will be asked during interviews. will enable you to stand out from other candidates. Preparing ahead of time If you really want to move to any location, you can try to change your LinkedIn location to your desired place of residence. It might help you to get more attention from recruiters in this area or, who knows, start the process of visualizing your goal of moving to the new country Bonus tip:

5 tips to get a (tech) job abroad

“H is a frequent question we get asked by early and growth stage . This question is particularly important for European startups and companies operating from emerging markets, such as LatAm, India, Russia, and South East Asia. If your home base is not a huge domestic market (like the USA or China) and you have high growth ambitions, international expansion becomes very important very soon. ow do I expand abroad?” B2B startups The list of mistakes below is based on successes and failures we’ve seen across more than hundred B2B companies of all stages and sizes, and is complemented by the best management practices and patterns noticed by the top VCs. Avoiding these 7 mistakes in your international expansion journey will save you time, money, and may even prevent from fatal failures. 1. Expanding internationally too early I like the , a B2B lifecycle, suggested by David Skok from Matrix Partners. At System2Labs we see these steps to be true, and in our experience expanding before step 5 “Prove non-founders can sell” is a recipe for disaster. 9 steps to Repeatable, Scalable, Profitable Growth startup If you haven’t found product-market fit, haven’t generated significant revenue, or haven’t proven that non-founders can sell, you should focus on fixing that before expanding internationally. This is not to say that you should always start in your home market or in a single market. This simply suggests that expansion in and of itself is unlikely to solve these early stage challenges. Just like will not necessarily make you happier, expanding abroad will not necessarily solve your core business challenges. moving to a new country I hear many startups who are saying that their product is “too early” or “too expensive” for their domestic market, and this is a reason to go to Europe and the US. While it may be true, you should be careful with this logic and gather some facts. Your domestic demand may indeed be limited, but you should make sure that there are no fundamental product or demand issues preventing you from selling regardless of the geography you are in. Let’s have a look at two examples. UiPath, a Robotic Process Automation startup, that originated from Romania and it now valued at over $1B. When did they expand internationally? They opened the office in the USA they had some major customer wins and partnerships and after receiving funding from top tier VCs so that they could afford the expansion. Dan Lupu, partner at Earlybird Venture Capital , “The company did not have any real feet on the ground in the US and yet they were getting a lot of attention from US customers, riding a very timely trend.” Contentful is another successful startup that from Europe. They setup an office in the USA seeing significant demand for their products coming from the USA and experimenting with people working in the US time zone from Berlin. after global commented expanded to the USA after 2. Expanding internationally too late The opposite mistake — expanding too late — is also quite common with European startups. Many European VCs such as Earlybird and analysts cite “winning locally mindset” among European founders as one of the main reasons in terms of venture capital invested. I like how Robert Vis, Messagebird founder, put it in , “Founders are not thinking big enough. In Holland you see a lot of people saying, “I’ll go win the Benelux”, I don’t know if many people here even know what Benelux is. […] These are basically three smallest countries in Europe”. The point is that Europe is considerably behind US Websummit panel While you are winning the [insert a single market or region here], your American competitors may be winning the world. Early international expansion has been an important step in the success journey of European unicorns. Balderton, a top tier European VC, has gathered data to compare European and American companies with $1B+ valuation on the timing of and found that international expansion “European companies expand internationally 19 months faster than their American counterparts.” Thanks to a large domestic market, “Expanding too late” can be less serious (rarely fatal) mistake for American startups, yet it is still important. The classic examples of going abroad too late are Google and Facebook (Alex Schultz talks about it ) in, for example, Russia. Partly due to American companies’ slow internalisation, Russia has Yandex for Google and VKontakte for Facebook. here 3. Going to too many countries at once After achieving some initial success in the domestic market, many companies start making plans about going abroad. If this is a startup is not coming from one the these countries, the list usually looks something like this: the USA, the UK, Germany. Sometimes neighbouring countries or large Asian markets come in the mix. This is logical, of course, since these are probably the most attractive markets, but going to all of them at once is very hard and expensive. Do you know many successful B2B startups who managed to open a few large markets at once? It is very important to evaluate different markets according to their attractiveness for your business and your ability to win. Then decide on which market to focus first and make on the expansion plan. Balderton sees the following across their portfolio companies: international expansion patterns Straight to the US Small European market > UK > USA Market-by-market European expansion The right path will depend on your business model, stage, and available resources. For example, if your business is location specific (e.g., healthcare, fintech, some types of marketplaces) or requires significant regulatory compliance, it is even more important to go one by one. If your product is inexpensive, requires little localisation, and has self-service elements, you may consider launching a few new markets at once. 4. Entering a new market with a new product Founders often think that they need a new or different product to win in the new market. This is dangerous. Lean startup has popularised the idea that startups should focus on re-risking their businesses, i.e. starting with the riskiest ones. Going to a new market with a new product is a combination of two major risks and with the resulting risk profile probably higher than the sum of the two. From the learning prospective, if you go to a new market with new product and fail, you won’t know if this is due to product or the market. testing their assumption Of course, we are not saying that you should just go abroad with an existing product. You should absolutely do basic market research, conduct customer interviews, tests, and pilots in the new market. What we are saying is that . it is best to enter the new market with your core product that has been tested and “validated” by the customers It should be a product which you know how to sell, how to service, and the product that is highly valued by existing customers (e.g., has high NPS, low churn). As mentioned before with UiPath and Contentful examples, the most successful B2B expansions are the ones where the companies tested the international demand for their products before officially expanding abroad. 5. Expanding without testing the markets We mentioned tests and getting some demand as important success factors. Indeed, expanding into a new market without taking the time to test it first is a common mistake startup founders do. But how do you actually do it? While the proper answer is always company-specific and requires a lot more details that we can provide in this blog, here are a few best practices: of international expansion, make hypotheses and decide how to test them in the simplest, fastest, and cheapest way. One of the best exercises at this stage is to have a management workshop and discuss the reasons you may fail (imagine a post-mortem). Then brainstorm ideas to design simple experiments to test for these reasons. Define your riskiest assumptions who are the potential customers, how are they different from your domestic customers, how is the market structured (who are the players, how are my types of products sold), what are the common sales processes. Interviews with potential and competitor customers is the one of the best ways to do this research. Make sure the interviews are business conversations (not market research surveys, and not sales pitches) and they test your hypotheses in a non-biased way. Understand the market: and talk to potential users. We sometimes hear that the founders are too busy to do this. This may be a red flag. At the early and growth stage, you as a founder should only expand to a new large new market if it is strategically important, i.e. one of the 3–5 most important initiatives. If the founder does not have time this task, then it is either not the best time to expand or the founders should review their priorities. Get founders or knowledgeable executives to visit the market . In many cases, there are things you can do from your market before setting up the office in the new country, e.g., you can ask someone in sales and service to work in the customer time zone, you may invest in a few business trips, or run a dedicated customer acquisition experiments. You can hire a person from your target market to work for you locally, e.g., hire an American sales rep in your Berlin-based startup (this is an approach ). Try to acquire some customers remotely Wooga took before going “all in”. You may set-up a small team in a in just one city in your new target market. This could be done by founders or hired executives, or in some cases an experienced 3rd party (e.g., a consultant or an interim country manager). The pilot should be carefully designed to test for the hypotheses you defined in step one. Set up a pilot 6. Testing new markets by hiring sales reps When planning the pilots, many founders think about hiring a few sales reps in the new market, attempting to oversee them remotely, and hoping that it will somehow work out. In our experience, this approach rarely works. It is very hard to find the sales people with the relevant skillset without understanding the market first. It also sets unrealistic expectations on these sales people — they should be facto act like country managers or CEOs of their territories. You may get extremely lucky and find a person who can do magic, but it is hard to count on it as a reliable tactic. Like in most commercial hiring decisions, Hiring sales reps is a part of the execution (the How), not a strategy (the What). It is a means and not an end. You just have to do your research and market intelligence, conducts tests and pilots and define the What. Based on this work, the you can design the Go-to-Market model for the international market, define the minimal viable organisational structure, and the basic skillset that the sales people should have. Only afterwards are you ready for the next step, which mostly probably involves setting up a small office and hiring the first sales people. hiring sales people should never be the first step in your decision making. The key to creating a reliable revenue engine is to minimize the need for a miracle, i.e. set up the environment where even average people can win. 7. Relying on channel partners to open new markets In the B2B technology startup world, channel partners are usually software distributors, system integrators, or IT consultant and outsourcing companies. There typically specialise on a type of software (e.g., security or document management) or an industry vertical (e.g., healthcare or government). Some founders think that getting a channel partner in the new country is the best way to expand. In our experience, this may work in some cases but not that often. Expanding abroad with channel partners may work well when: The company is well-established in their home market, e.g, it has managed to get significant revenue (say over £10M ARR), and financing (e.g., stage B) based on some clear adoption metrics The company is based in a well-developed market (e.g., USA, a large European market or a other market with world-class expertise) and is expanding to smaller markets via channel partners, e.g., an American company working with partners in smaller European countries The company has a unique solution which gets a lot of organic demand, but the team is simply uncapable to satisfy that demand on its own The company is already somewhat established in the local market and needs channel partners to scale (this is where channel partners can be extremely useful, but this is not very relevant to international expansion) However, if you are a smaller startup based in, say a small European, Asia or Latin American market, are you hope to get into the US or the UK via partners, the chances for success are quite low. First of all, it is hard to acquire channel partners. If you are small and unknown, acquiring good channel partners is not much easier than acquiring own customers. Even if you manage to acquire them, it does not automatically mean that they will be brining sales. Channel partners may have hundreds of suppliers in their portfolios, their sales people may not necessarily know your product well enough to sell. You should also know that many channel partners rely on the manufacturers to create the demand (“pull”) and introduce them to the leads. Some founders ask about agents — individuals who work for commission from sales. Founders may expect these people to sell their products or make useful introductions. While you may be able to get some opportunistic sales if lucky, this is usually a very unreliable route to market in Europe and the USA. Agents are not very common in the Western markets and in technology sales and are not always well perceived (or even considered legal) by professional buyers. With both channel partners and agents you also lose ownership of your customers. You may find yourself in a situation when it becomes difficult for you to access customers, understand them, cross- and up-sell. Having said this, channel partners can be a very valuable to early and growth stage technology startups if you use them for the right reasons. They can be a great source of market intelligence, since they know a lot about their customer needs. Just like in the , spending time with a partner allowed them to unlock the potential of their product, “We had a good product […], but we didn’t yet know what we could do with it. Until somebody came and told us ‘you can use it to build an airplane.’” case of UiPath *** I hope that this list is helpful to startup founders and executives who wish to expand abroad, as well as to VCs and other investors. Subsribe to System2Labs newsletter to stay tuned for the next editions where we will talk about the exact steps that you should take to go expand abroad and many other ways to create scalable sales engines. System2Labs has a lot of experience working with B2B companies in the US and in most major European markets. We have developed tools and methodologies to help startups from any origin to expand abroad. Contact us if you have questions about the expansion approach that works best for your business.

7 mistakes B2B startups make when expanding abroad

Everywhere I go, people sympathize with me when I tell them I’ve moved back to India after living abroad for ten years: whether it’s at a store, party or work. Across the board, people lean in, curious: “ ”. Or they laugh: “ what’s it like being back? How are you adjusting? Poor you, it must be so hard are you crazy? Why would you choose to be here?” I can’t say this often enough: it’s great being back. As anyone that knows me will tell you: I was strongly reluctant to move back initially. I was worried about the quality of life, work culture, being a working woman in a regressive society. And yet, I’ve been so positively surprised. Things have changed dramatically in Mumbai over the past ten years. Yes, the traffic in Mumbai is terrible: but it’s terrible in LA, London, NYC, and every other major cosmopolitan city. Yes, the work culture differs: people can be less proactive and need more hands-on management. You have to repeat yourself more often, and make granular decisions: but they’re also more hungry to learn, earn, do: and they work harder. Yes, the lack of personal space is frustrating: but it’s beautiful that so many people truly care about you. I do struggle more here: I work harder. I worry about the air I breathe, and the commute is exhausting. The pay is much worse. But I’m also leading the web series division of a fast growing media startup in India. I’m not sure I would have been able to do the same work, at the same pace and scale anywhere else. I get to tell untold stories, to a quickly growing local and foreign audience, that’s hungry for higher quality, relatable content. Global platforms and audiences are increasingly keen to hear what we have to say. There’s a new crop of creative talent clamoring to build a more transparent, meritocratic culture. When did we have such access to the world stage before? What about the ‘backwardness’ of society? Of how women are treated? Admittedly, my perspective is highly urban, privileged and skewed: but personally, I’ve been pleasantly surprised by how women are treated both at work and home: I’ve honestly faced much more subtle and covert sexism abroad. Of course, there are serious problems here. But it’s more in your face, more blatant: and therefore in some ways both more frustrating, but easier to pinpoint and tackle. Every place has its drawbacks: I’ve lived in London, Palo Alto, Boston, Athens and San Francisco over the past ten years. The air is cleaner, but people are more lonely. It’s harder to connect and be truly known. There are advantages to living in a community-based culture, versus an individualistic one: I can see this as I grow older. Let’s highlight what we’ve built and the progress we’ve made. The constant comparisons and references to American culture: on the radio and on TV, in the way companies are built and run, at our dinner tables and in our personal lives is almost sad. The colonial hangover is strong: people assume you must somehow know more or be ‘better’ because you’ve lived abroad. I’ve spent a significant part of the past five years increasingly frustrated at borders shutting and increasingly regressive immigration policies. I was in London when the Brexit vote when through and in California when Trump was President: but I do think this is a seriously positive opportunity for India. Let’s encourage our brightest minds and talent to move back, versus feel sorry for the people that do. Our generation has the chance to raise the standard of work, to set a new standard for how we want to live, be treated and treat others. We also get to shape how the world sees us: through the way we perceive and present ourselves. Our words and mindsets matter. I choose to be here. And I’m excited for what’s to come.

After Ten Years Abroad, What’s It Like to Live in India Again?

Why not buy a car with the money you save on transfers? In a world that’s becoming rapidly more globalised, living abroad is becoming increasingly common with the popularisation of migration. Moving abroad will likely be an intimidating process for anyone, but knowing how to do it cost effectively can save you hundreds, even thousands; making the process a little less stressful. So, what should you consider before moving abroad? How can you save money on your move? There are a significant number of additional costs which you’ll incur when moving; some can be avoided, some can be reduced. Firstly, let’s look at the costs which you can cut completely. By doing research into the process of moving overseas, you’ll be able to save a great deal as you won’t need a financial advisor. The internet has countless resources to inform you about the financial aspect of the moving process. While using a real estate agency can save you a lot of time and stress, it will also add to the cost of the property due to commissions. There are a number of websites online dedicated to matching property sellers with buyers. If you choose to do this, you should be very cautious. Ensure the person advertising the property is the rightful owner. You will also want to visit the house beforehand to ensure it is as advertised (not a bad excuse for a weekend away). You’ll also want to ensure that the property’s deeds haven’t been offered as collateral for any loans. While there are some costs which you’ll incur regardless of how you approach purchasing a house abroad, there are steps you can take to lessen costs in other areas. Firstly, you’ll want to keep an eye on the different property markets as they can vary hugely; even in neighbouring countries. This is something worth doing early on when you decide to move as it will likely factor into where you choose to live. So, moving to the right place can save you a lot of money. What about moving at the right time? Exchange rates are definitely something you’ll want to keep an eye on. When transferring large sums of money, the amount you receive post-transfer can vary hugely depending on that days exchange rates. Using apps like Find.Exchange you can set alerts to notify you when the exchange rate is most favourable. Another area where you can save a lot of money is on the actual transfer. With so many companies offering so many different rates for the same transfer, on the same route, finding the most competitive can take hours. What’s more, you’ll also want to factor in how long the transfer will take. With big banks charging huge fees on international money transfers, you’ll want to look at some of the smaller, dedicated providers. While the fees will be lower, there will still be a huge selection to choose from. I suggest getting back on the Find.Exchange app and comparing the providers that can transfer on your chosen route. You’ll be able to see how much you’ll get in the foreign currency, how long the transfer will take and the providers user rating. Using this app will save you money; and depending on the amount you transfer, it could be a significant saving. By using price alerts and transfer comparison, you’ll be able to rest assured that you’re getting the most for your money. By taking these factors into account, doing research and comparing transfer providers and exchange rates, you’ll be able to get a good idea of just how much money you’ll save. You might just find that the budget for your house has gone up. Saving money when moving abroad may not make it any less daunting, but when you arrive at your new Greek villa, knowing that the car you just bought was paid for with money you saved, I guarantee it will put a smile on your face. To see how much you can save on your money transfer, head to : https://find.exchange/search/transfers Find.Exchange

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