Today’s world is interconnected and strongly driven by high-tech innovation on a digital scale. The geographical boundaries that were so significant in the past are becoming far less relevant, especially for startups looking to reach a global audience. Startups in Eastern European countries have been gaining increased recognition for innovative ideas and technical abilities, getting them noticed by more than just local clients.

However, it’s not always easy to break into the Silicon Valley ecosystem, as it’s a highly competitive world that can feel like it’s closed off to startups from other areas. To have the best chance of success, you’ll need to offer not just a great vision and technology solution, but also a business model that resonates with a global audience and still leverages the Valley’s unique dynamic. Here’s what to consider when you’re carefully considering the options for your startup, so you can have the best chance of success.

Among the best ways to understand a global audience on a foundational level is to conduct market research. Your business model needs to work for the people you’re trying to connect with, no matter where they are. Every Eastern European startup that wants to be successful should be looking into the preferences and pain points of their target audience, all around the globe.

However, localization also matters when it comes to cultural nuances and specific consumer behaviors. In other words, your startup will need to adapt and adjust how you advertise and what you provide for specific markets. You can do that through matching local cultural norms and preferences, as well as translating information in the right language accurately. At the same time be geo focused at the beginning and target the biggest and most growing market which consume your product or service offering.

Along with adjusting your marketing for a global audience you want to look at how Silicon Valley dynamics come into play. The area is a hub for innovation, but it’s also extremely collaborative, as well. Seeking out local entrepreneurs, experts, and investors in the area can help with growth through getting involved in conferences, meetups, and potential partnerships.

Silicon Valley is also very flexible and change comes rapidly, so your startup will want an agile approach that allows you to adapt to new ideas and pivot toward new ideas based on trends and market feedback. If you aren’t changing quickly you could get left behind.

Crafting a global-ready business model

To increase the potential for your startup’s success you need a global-ready business model that provides value to clients. By clearly defining the unique value proposition your startup offers you can help potential clients see how your product or service can solve their problem and bring value to their lives. This is a cornerstone of your overall business model.

You also need to make sure your business model is scalable. Many Silicon Valley investors look for scalability when they’re seeking out a startup, and you want to make sure your startup can accommodate a customer base that grows rapidly without any compromise to the efficiency or quality of what you’re offering. If you offer subscription models you can also see more predictability in your revenue streams and create longer-term relationships with your customers.

Other ways to make your business model more globally accessible include offering basic services or products for free, while charging a fee for premium features. That attracts a wide audience, and helps potential customers experience part of what you have to offer before they commit to a purchase.

By using data-driven insights, you can see where your model is working and where it may need adjustments, allowing you to make rapid adjustments that will improve quality and value for your customers. That helps guide continuous innovation and improvement.

The bottom line on success for an Eastern European startup

When you create a business model that caters to a global audience, and couple that with Silicon Valley’s unique and dynamic blend of adaptability and innovation, your Eastern European startup will have a lot to offer. That can increase its value to clients, talented professionals you’re looking to hire and work with, and investors interested in what you have to offer. You can position your startup for increased chances of success internationally by focusing on collaborative spirit, market diversity, and an agile mindset, allowing you to move your startup forward and get it noticed in the marketplace.

 Dr. Galitsky is a scientist, five-times founder, an internationally well-known entrepreneur, and a venture capitalist with a proven track record and executive operational experience in the US and Europe. Alexander Galitsky is a co-founder and Managing Partner of Almaz Capital, an international venture fund with major offices in Portola Valley, CA (USA) and Berlin (Germany), and representative offices in Central and Eastern European countries. Established in 2008, Almaz Capital is a global VC fund investing in early stage, capital efficient technology companies in high-growth sectors. 

The fund’s investors include European Investment Fund (EIF), Cisco, the European Bank for Reconstruction and Development (EBRD), and International Finance Corporation (IFC), a member of the World Bank Group. Sasha also is a Strategic Adviser and a member of a Founding circle at B612 foundation.