Localization, according to Mishanin, goes beyond merely translating media and product into the regional language. It entails understanding the unique nuances of each new market, an obligation that lies squarely on a founder's shoulders. Founders must strive to immerse themselves in the local culture and rely on local experts to address potential company blind spots.
Mishanin suggests a seven-point approach as a strong foundation for successful growth:
Learn the culture: Understand the unique aspects of each market.
Tailor the product-market fit: Adapt your offering to meet local demand.
Tackle language barriers: Ensure clear communication across markets.
Leverage technology: Harness technology for scaling, customer acquisition, and tracking performance metrics.
Offer a free proof of concept: Use this as a tool for business development.
Prioritize networking: Build your presence in every region.
Assemble cross-market teams: Form teams driven to succeed, regardless of the region they serve.