How your start-up can expand overseas — quick tips from Socialwalk

Socialwalk, an online platform that helps event attendees build potentially useful connections with each other, has expanded to three countries within a year. Now, they want to help others do the same.

The founders, Tham Keng Yew and Eileen Feng, recently shared in a press release some tips regarding how companies can expand regionally.

Bearing in mind the limited resources that SMEs and start-ups have, here are the four guiding principles:

1. First-priority region: Which target market could give you a strong competitive edge? Cost of expansion? Who are your competitors over there? Price point? Why should your potential buyers switch over to you?
2. Anchor buyers: Who do you need to get on your side in order to verify your business model in that country?
3. Relevant introductions: Let professional business matchmakers help you find potential buyers and introduce you to them. An introduction made by a trustworthy matchmaker could be the key to being on your buyer’s radar.
4. Meet your buyers to close the deal: In order to make your overseas trip worthwhile, you can participate in an international trade show with a business matching program. Invite your potential buyers to meet you there.

Keng Yew, CEO of Singapore-based Socialwalk, emphasized again the importance of professional matchmakers, which allows entrepreneurs to “jump the queue” when seeking buyers. Socialwalk can play such a role.

A senior sales executive from Clean Air & Fluid System in Malaysia, one “Mr Akram”, used Socialwalk when he were in Jakerta. He claimed he was able to get more partners and clients that way.

Socialwalk is also in talks with key Chinese trade show organizers and export-ready companies to provide their buyer-seller matching services.

From Valentine’s Day to 28th February 2012, Socialwalk is offering export-ready companies with an introduction to a relevant buyer. If you’re curious, send your contact details to eileen@socialwalk.com, with “Subject : I am ready to expand overseas”.

More epic content that’s related:

Interview with PropertyGuru CEO Steve Melhuish on how he expanded overseas.
A look at countries that tax your company to death, and those that don’t.