Amsterdam-based Techleap.nl commissioned UK-based Newfound to design and deliver a new global expansion programme called Compass to help top tech businesses from the Netherlands scale to foreign markets.
Launched in February 2021 and run over 12 weeks, it supported ten companies with access to highly experienced experts to support strategic planning, as well as delivering essential market intelligence businesses needed to determine market selection.
Compass was designed for busy leaders across the business - not just CEOs and founders. The 360 assessment across each business engaged the whole team in understanding what activities were essential to prioritise to support the international plan. This enabled them to build out the execution plan in a much more pragmatic and focused way.
Goals of Compass
The aim of the Compass programme was to help the senior management team across each business navigate the complexities of international expansion so they could build a clear plan to achieve success in a new market. Once they knew where they were going and the rationale behind why they should go, companies started the journey with increased confidence and a team empowered with best-practice knowledge.
Delivered in 6 stages, Compass was designed to be focused and pragmatic. Companies received personalised strategic support, took part in interactive group sessions and received a market intelligence report to help them assess opportunities in target geographies. At the end of the programme, each company received an execution plan which helped prioritise what their next activities should be to support their international plan.
The timeline below outlines the main activities in the programme.
1. Programme Launch
The opening event enabled new connections with other peers on the programme and provided the opportunity to meet with the team of experts supporting the programme. Using a series of exercises, goals were set and priorities were determined for the programme ahead.
Then we moved on to assess each businesses readiness to expand through an online assessment. This data enabled the team to gather important information across a business’s core functions before advisers met with the individual leaders in the executive team.
This phase really helped advisers get under the skin of what each company's ambitions were and what were the key drivers to expand. We started with a CEO interview to capture the bigger picture of where they planned to lead the business and also to understand what the ideal metrics were for a new market. Then we spent dedicated time with the leader of each core business function to start mapping out their capabilities and addressable challenges.
4. Knowledge sharing
6 masterclasses delivered by Compass experts. These function or role-specific sessions passed on the experience of our world-class team. They shared what mistakes to avoid as you scale internationally and what efficiencies you can apply with good forward planning.
5. Market Insights
Understanding product-market fit is a vital component to expanding successfully. Our customised report provided insights on what top four markets were the best fit according to the ‘ideal metrics’ each company shared. The data provided an overview of firmographics, demographics, financial market size and complexity of doing business for each market.
6. Execution planning
Using the insights gained from each company throughout the programme, each company was delivered a half-day workshop where recommendations were shared and discussed. From assessing which market looked like the best fit, to providing pragmatic advice on what the next steps should be, each company was provided with a clear execution plan which highlighted the key priorities.
You can read more about the experiences of each company in the individual case studies below.
- Amberscript > Sharpening its focus for the global stage
- Felyx > Getting ready for Germany
- Mapiq > From the first mover to a top player
- Relay42 > Getting the fundamentals in place
- Sensorfact > Stress-testing before expanding
- Somnox > Finding the right market
- Trengo > Refining the sales process
- Trunkrs > Finding a ‘sustainable’ USP
- Wizenoze > Journey to the East
- Zivver > From 'start-up' to 'scale-up’