Up until now, start-up companies have followed a similar trajectory. Once they’ve developed and prototyped their product, they begin selling into their domestic market, because this is what they know best. They make some initial sales, gain some market traction and then at some point they decide that they need to have a strategy for getting into international markets. This process often takes years.
These “go to market” plans will often require raising additional capital to hire sales staff and pay for increased travel and entertainment expenses.
It’s time to take your product global—but what are your options?
Often times startups take their first step into international markets by hiring someone with international sales experience who then jumps on an airplane and tries to sign up distributors, resellers and other channels around the world. But there’s only so much you can do by parachuting one person into a huge territory.
Often startups will engage international market entry consultants in an attempt to “outsource” the problem. Most of these companies charge monthly retainers in addition to travel expenses and then take a big commission off the top line for as long as three years. And there’s no guarantee of success.
The Farpoint Way
If you step back for a moment and really think about it, the potential future revenue of your products in these untapped international markets is a valuable asset. Why should you be paying others to exploit this asset? Shouldn’t they be paying you?
At Far Point Ventures we carefully choose companies and products with huge revenue potential in global markets and then we pay you for the privilege of exploiting that revenue potential. Unlike “market entry consultants”, “sales agents” and other channels, we have real skin in the game—we are more motivated than anyone else to make you successful because we put our money where our mouth is up front and must work hard to achieve a return on our investment.