There are a lot of really innovative products right now on the market in the SaaS space; products often fueled by startups full of new ideas in a time when concepts like artificial intelligence, machine learning, big data analytics, social media integration with marketing and more are in their heyday.
If you have an innovative product that is doing well, you may be tempted to expand onto new markets and geolocations. However, just because a product is successful in one region of the world or where it was launched from doesn’t mean this success will translate worldwide.
Users or potential customers have different habits worldwide. In some places of the world, there is more or less capital for investment. Thus, companies – whether enterprises, SMBs or startups – may be more or less inclined to invest in new product ideas for their workflows depending on their capital and revenue they generate. Some regions of the world may also be more tied to the traditional client-server model of computing rather than the cloud, due to slower high-speed Internet adoption or simply the fact that corporate habits die hard.
It seems more and more cities worldwide — including ones from places like Minsk, Belarus – are becoming hot tickets for startup growth and innovation in product ideas. However, many countries are still stuck in the corporate culture and rely on Microsoft Office for almost all their workflow needs. Innovation in software and adoption of SaaS offerings is also not going to be easy in such places.
However, the big hurdle I’ve noticed from personal experience working with a recent Polish-based startup trying to move strongly west — into English-speaking territories of U.S. And the U.K – is impatience and not studying the market ahead of time. A market like the U.S., for instance, has a lot of competitive offerings in the SaaS space in all sorts of apps and financial software offerings. A country like Poland may not. – Read more