Scaling globally panel notes from #Intersekt18, Australia’s Annual FinTech Industry Conference. - Convergence - only go global when things add up. Look at having the right ‘proof points’ to enter a new market like demand, opportunity, incentives etc. - Connection - work with partners best possible, for example AusTrade has ‘landing pads’ with many countries and a FinTech bridge with the UK to have direct access with market support - Challenge - The biggest challenge has always been the hunt for good talent. You need to find people with the right ‘fit’ as they will represent your organisation - Competition - When you move to a new market, you need to know you are moving to someone’s domestic market and they are more intimate with local knowledge of their home country - Communicate - When you scale globally you need to have your team connected globally as well, don’t operate as silos. Have global events to bring the team together. Transferwise has events for their leaders in Estonia regularly - Consultants - there is a market to work with consultants to scale globally - Radi8 does it for Europe market expansion - Compliance - Always understand local regulations especially in the FinTech space, there could be blind spots. - Culture - Doing business in China is different for example for AirWallex, an Aussie-business, they needed to get used to sending letters with a ‘seal’ or chop to make it official. Summary: There are plenty of space for growth globally, alignment with timing and opportunity is important. (at Melbourne, Victoria, Australia) https://www.instagram.com/p/BpjVXTyn-CN/?utm_source=ig_tumblr_share&igshid=s9qrll2saloi
