Vlad Cazan delineates a couple reasons for creating a new legal entity in the new market.
Shorts
These are short clips from selected episodes of The White Rabbit podcast.
Will the old stars work
Vlad Cazan weighs in on the question, “Will the old star employees be stars in the new market too?”
Entrepreneurial transformation journey
Vlad Cazan responds to Alper’s question about the entrepreneurial journey, and how much learning is involved, even if you are starting the journey in your 40s.
Don’t skip steps
Vlad Cazan stresses the importance of not skipping steps, no matter how impatient you might be.
Be patient
Vlad Cazan warns us to be patient, the results are not going to come as quickly as we, and our investors, want them to.
Some countries are more open than others
Vlad Cazan points out that some countries are more open than others, and that knowing which ones are more open to you is an important part of the research phase.
More on the importance of accelerators
Vlad Cazan goes deeper on the importance of accelerators, even if you already have a few references you can use.
Use an accelerator or incubator
Vlad Cazan’s company had numerous references from subsidiaries of multinationals, but found the assistance of an accelerator/incubator and embassy crucial in expanding abroad.
Value of sandbox
Vlad Cazan mentions the value of a sandbox and what you should do there.
Expansion strategy
Vlad Cazan goes into his company’s strategy for expanding into the UK.
Should the founder be involved
Berk Temuroglu responds to the question, “Should the founder be involved in the market expansion research?”
Who should that researcher be
Berk Temuroglu responds to the question, “If the researcher should be one person, who should that one person be?”
The power of one
Berk Temuroglu suggests that to reduce noise, only one person research the move into a new market.
Research through invalidation
Berk Temuroglu says that the fastest market research is to actually invalidate a concept.
Giving up prematurely
Berk Temuroglu warns that the desire to keep the sexy illusion of growth alive might cause a company to give up too early on a market.
Boring period is where the expansion actually happens
Berk Temuroglu points out that this boring period is where the expansion actually happens.
What is boring about this period
Berk Temuroglu talks about what is boring during this period.
A boring period
Berk Temuroglu describes what he calls “the wheel of engagement,” and how it might include a boring period that many of the employees, who were attracted by the sexy idea of working for a startup, will find uninteresting.
Factors to consider
Berk Temuroglu lists some of the factors to consider when thinking about who will staff your international sales operation.
Stars at home may not be stars abroad
Berk Temuroglu mentions that the star employees back at home may not be stars in the new market.
Expansion is business-specific
Berk Temuroglu notes that sales expansion will be very business-specific.
Risk of a new management team
Berk Temuroglu addresses the question, “Isn’t a new management team a new risk too?”
The five cardinal risks
Berk Temuroglu outlines what he calls The Five Cardinal Risks, the risks that are (hopefully) being eliminated at each subsequent round of funding.
Funding rounds are about elimination of risk too
Berk Temuroglu mentions that subsequent funding rounds are also about the progressive elimination of risk.
Can you frame alone
Berk Temuroglu goes into framing the problem and tweaking it for the audience, and can you do it in isolation by yourself?
How you frame the problem depends on who you are speaking to
Berk Temuroglu mentions that the framing of the problem will be slightly different depending on who you are speaking to.
Why does this happen
Berk Temuroglu theorizes on why corporate managers tend to not spend enough time describing the problem, and instead jump too quickly to the solution.
Corporate managers focus on idea too much
Berk Temuroglu goes into the problem/solution cycle, and how he believes corporate managers spend too much time discussing the idea (solution), and not enough time describing the problem.
Will it ruin the mojo?
Berk Temuroglu responds to the question, “Will learning the ‘constant pitching mindset’ ruin the manager’s mojo in other aspects of managerial life?”
Proliferation of intrapreneurship programs
Berk Temuroglu suspects enhanced learning is one of the reasons intrapreneurship programs have become so popular in the corporate world.
Why are corporate managers hesitating
Berk Temuroglu tosses around some theories on why more corporate managers are not making use of the startup-mindset learning opportunities available to them.
Tables have turned
Berk Temuroglu says the tables have turned, and while the two groups (startups and corporate managers) can learn from each other on a two-way street, 10 years ago it was more that startups could learn from corporate managers, and now it’s corporate managers who can learn from startups.
Constant pitching mindset
Berk Temuroglu points out what he calls the “constant pitching mindset” as a skill he thinks more corporate managers should adopt.
Corporate vs startup presenting mindset
Berk Temuroglu compares the corporate presenting mindset to the startup presenting mindset, and says the corporate mindset needs to learn something from the startup mindset.
The three or four things
Memet Yazici goes into the three or four top things to keep in mind during the management team meeting.
How the ship gets righted
Memet Yazici goes into how the meeting will typically get corrected if the management team takes off in the wrong direction.
Getting confused
Memet Yazici on the confusion that ensues if you approach a PE management team meeting as if it were a VC meeting, and vice versa.
Can you be overprepared?
Memet Yazici dives into the age-old question, “Can you be overprepared” for the management team meeting.
The first few minutes
Memet Yazici goes into what is probably going through the head of the investor in the first few minutes of the management team meeting.
Limits to the research
Memet Yazici goes into what’s good research for the management team meeting and what’s too much.
The mutual telling of stories
Memet Yazici comments that in the management team meeting, the telling of stories is likely to be mutual.
Preparing for the management team meeting
Memet Yazici goes into some ways you can prepare for the management team meeting.
PE vs VC expectations from the management meeting
Memet Yazici talks about the differences between what a PE company and a VC company expect from the management team meeting.
Management meeting context
Memet Yazici sets the context for the management team meeting.
Investor base helping with the international expansion
Berk Temuroglu goes into tapping the investor base to assist with the international expansion.
Inevitability of culture clash
From the podcast archives, Berk Temuroglu on the inevitability of culture clash when the company sends expats to manage an office staffed locally.