My family is thrilled for the Olympics this summer. And I can’t help thinking that sales expansion to Europe can feel akin to an Olympic endeavor — rigorous, competitive, and rewarding. Just like athletes who train for years to excel on the global stage, tech startups like yours need strategic preparation and execution to succeed in Europe — to be the first one over the finish line.
There are a lot of reasons you should consider expanding your tech startup into Europe — Europe represents the second-largest opportunity for B2B software companies worldwide, and the diversity of the market offers endless opportunity. For this month’s newsletter, I thought we’d draw parallels between the discipline and strategy seen in the Olympics and the best practices for startups on this expansion journey.
Lace up your running shoes and get ready to conquer the European market! (Warning: This email includes many dad jokes.)
Athletes spend years training, understanding their competition, and honing their skills. They know exactly what they need to do to stay ahead of the curve, and understand where their USPs lie.
We’ll leave the diving to the professionals, but when it comes to diving into European sales, comprehensive market research is essential. Always remember that Europe is not a monolith. Just like each Olympic team with its different disciplines, each country has its own unique cultural, economic, and legal landscapes.
Some of the differences you’ll need to consider when selling in this continent include:
By understanding your local competition’s product offerings, pricing, marketing strategies, and customer base, you can use this to differentiate your product and find your USP.
Why not partner with a local, seasoned professional to get that done? After all, you wouldn't put a 100-meter runner into the 1500-meter race, why would you get a generalist biz dev person to try to take your specific technology to a specific vertical in a specific European market? Using companies like us with in-depth European expansion knowledge could be the ticket for gold!
An athlete’s success depends on a robust support team, including coaches, other athletes in team sports, nutritionists, and analysts.
This must also be applied when building your European sales team, whether internally or outsourced. While there are pros and cons to both, sales outsourcing can help you fast track to that gold medal. European expansion promises significant rewards, but achieving them requires determination and perseverance. Our sales outsourcing teams have years of experience working in the European market. Outsourcing your sales operations can provide immediate market access and expertise, especially when it comes to laws, regulations and cultural nuances.
Local sales reps also understand the culture and market dynamics. For instance, what works in France may not work in Spain, or Turkey, where according to Tansu Çolakoğlu, there is importance placed on hierarchy and respect during the sales process. Some countries also adopt a very fast sales process, whereas some are thorough and slow. Therefore, it's good to have some local knowledge and insight, whether it is through building your own local sales team, or outsourcing your sales. Whatever you do, be sure to create a motivated and driven sales culture that mirrors the Olympic spirit.
Networking and exposure are crucial. Athletes often build their profile through smaller competitions before the Olympics before qualifying leads them to the big competition. (See what I did there?)
Similarly, effective lead generation in Europe requires a strategic, multi-channel approach. Don’t underestimate the power of networking when it comes to sales expansion. Many European countries place high value on building rapport during long sales cycles, so networking and marketing across different touch points is a great way to get the ball rolling:
Like an athlete to a coach, take advantage of partners who have been selling tech on the ground and can share that to optimize your performance.
During the Olympics, athletes must adapt to conditions and competitors’ strategies as their event progresses.
This same level of flexibility and adaptability are key when executing your sales strategy in Europe:
In both sales and sports, the individual matters as much as the team. Sales reps helping you expand abroad demand the right mix of local domain experience and a certain drive, but they also need to be able to communicate with all stakeholders involved. Plus, a team atmosphere always sparks some healthy competition.
As much as we’d sometimes like to, we can’t just fast track to the finish line. Athletes endure rigorous training and often face setbacks before achieving success at the Olympics.
You can apply this to your sales too — successful sales in Europe won’t come overnight. It requires persistence and resilience. Stephen Mcintyre explains that start-ups expanding into Europe often dive head-on into a sales-first approach, forgetting that they initially grew through grassroots and word-of-mouth. Founder-led sales are important but only scale to a certain point.
You need to develop a long-term strategy rather than seeking quick wins and being prepared to face challenges such as regulatory hurdles, market resistance, and competition. Learn from each setback, then review your strategy to improve your chances of success.
Expanding your scaleup into Europe is a marathon, not a sprint — much like training for the Olympics. It requires thorough preparation, a strong local team, strategic lead generation, adaptive execution, and unwavering persistence. By drawing on the discipline and strategies of Olympic athletes, your startup can thrive in the diverse and competitive European market.
Just as Olympians inspire the world with their dedication and excellence, let your scaleup’s journey into Europe set a benchmark for innovation and success. Embrace the challenge, learn from every step, and aim for nothing less than the gold.
