Expansion and Recruitment Strategies for International Success
Posted: Mon Jan 06, 2025 6:36 am
In 2024, Russian companies continue to focus on scaling abroad, although they have reoriented themselves from the West to the CIS and the East. A recent survey showed that 21% of entrepreneurs plan to open their business abroad this year, and 28% in the next four years.
Ilya Prusenko, founder of the recruiting and personnel agency HelpResource, talks about how to analyze the market, choose a strategy, and manage personnel during international expansion. The company, which entered the market in 2010, currently operates in the CIS, the USA, Brazil, Mexico, Peru, Columbia, and the UK.
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We analyze the market
Analysis is the first step before entering cambodia whatsapp phone number any new region. The process can be divided into several points:
Collecting data to understand market capacity
It will help you understand how much exactly a business can earn in a specific geography. You can use the well-known method of calculating PAM, TAM, SAM, SOM, when you go from larger to smaller - that is, from assessing the total volume of the segment to assessing the share that you can take, taking into account the presence of competitors.
In the process, it is worth using both external sources (government portals, data from consulting companies and research agencies such as McKinsey, BCG, Forrester and Statista, industry media) and your own data from surveys and interviews with the target audience.
It was this kind of analysis that helped us understand that the US is the largest HR outsourcing market in the world, and it makes sense to enter it even despite the high competition.
Consumer Behavior Analysis
Thanks to it, you will find out whether there are enough potential clients in the region and what they expect from a business in your niche.
It is necessary to understand the age, gender, income level of the target audience, how exactly they prefer to buy goods and services, what factors influence their decisions, what they value. For example, if your e-com company sells premium products, it is important to roughly estimate how many wealthy consumers there are in the region.
How and which marketplaces are best to enter so as not to burn out, but to earn money? Choose the appropriate training in the catalog of courses on marketplaces .
Competitor Analysis
It is necessary to formulate positioning, differentiate yourself from other players, set prices. Identify your main competitors in the market, analyze their strengths and weaknesses, pricing strategies, marketing approaches. Try to find financial indicators to estimate the market share.
The same reports from consulting and research firms, information aggregator platforms like Traxcn, Crunchbase, SimilarWeb, Owler, and even a simple Google search will help in the process.
Risk analysis
Helps minimize damage. Think about what problems you might face and what strategy your business will have if the fears become reality. You can use tools such as PEST analysis .
I would like to point out that we often enter markets that are of interest to our clients. That is, if a client, for example, is considering scaling in Colombia, we can establish ourselves there together with them and take on the obligations to outsource local personnel.
As a rule, if you already work with a company in a certain geography, it is not so difficult to agree on providing services to it in a new location. This also helps to reduce risks.
Ilya Prusenko, founder of the recruiting and personnel agency HelpResource, talks about how to analyze the market, choose a strategy, and manage personnel during international expansion. The company, which entered the market in 2010, currently operates in the CIS, the USA, Brazil, Mexico, Peru, Columbia, and the UK.
Subscribe to RB.RU in Telegram
We analyze the market
Analysis is the first step before entering cambodia whatsapp phone number any new region. The process can be divided into several points:
Collecting data to understand market capacity
It will help you understand how much exactly a business can earn in a specific geography. You can use the well-known method of calculating PAM, TAM, SAM, SOM, when you go from larger to smaller - that is, from assessing the total volume of the segment to assessing the share that you can take, taking into account the presence of competitors.
In the process, it is worth using both external sources (government portals, data from consulting companies and research agencies such as McKinsey, BCG, Forrester and Statista, industry media) and your own data from surveys and interviews with the target audience.
It was this kind of analysis that helped us understand that the US is the largest HR outsourcing market in the world, and it makes sense to enter it even despite the high competition.
Consumer Behavior Analysis
Thanks to it, you will find out whether there are enough potential clients in the region and what they expect from a business in your niche.
It is necessary to understand the age, gender, income level of the target audience, how exactly they prefer to buy goods and services, what factors influence their decisions, what they value. For example, if your e-com company sells premium products, it is important to roughly estimate how many wealthy consumers there are in the region.
How and which marketplaces are best to enter so as not to burn out, but to earn money? Choose the appropriate training in the catalog of courses on marketplaces .
Competitor Analysis
It is necessary to formulate positioning, differentiate yourself from other players, set prices. Identify your main competitors in the market, analyze their strengths and weaknesses, pricing strategies, marketing approaches. Try to find financial indicators to estimate the market share.
The same reports from consulting and research firms, information aggregator platforms like Traxcn, Crunchbase, SimilarWeb, Owler, and even a simple Google search will help in the process.
Risk analysis
Helps minimize damage. Think about what problems you might face and what strategy your business will have if the fears become reality. You can use tools such as PEST analysis .
I would like to point out that we often enter markets that are of interest to our clients. That is, if a client, for example, is considering scaling in Colombia, we can establish ourselves there together with them and take on the obligations to outsource local personnel.
As a rule, if you already work with a company in a certain geography, it is not so difficult to agree on providing services to it in a new location. This also helps to reduce risks.