Imagine a business in over 80 countries. When we think of truly global companies, we think of Google, Facebook, Twitter and many other online businesses that are available to people in almost every country.
If you observe, many of these large global businesses were not even around 20 years ago. They have become multibillion-dollar businesses in less than two decades. It shows the power of the internet to leverage opportunities and build a global business.
The biggest advantage with the internet is that it gives you access to anyone anywhere in the world. StarOfService, a start-up in France established itself in the local market and started expanding all over the world. Today, they have a presence in over 80 countries.
Unlike Facebook and Twitter, they have a unique domain name for each country. The beauty of the business is that they help people hire professionals in their local market. If you are looking for a plumber or a photographer in your neighborhood, you can place a request on their website, and qualified professionals will place a bid to win your business.
It’s the best of both worlds for both professionals and customers. Professionals win new business while customers get access to qualified professionals.
The company has been featured in several publications like Forbes, Entrepreneur, TechCrunch and many more. The company might not be as big as it’s nearest competitor Thumbtack, but their American rival has a presence only in the US while StarOfService is in 80 different countries. So they have an early advantage to make things happen and capture a significant market share.
In most countries around the world, there is a challenge to find qualified professionals. By setting up their presence in less developed markets, StarOfService is helping service providers and buyers come together and become more organized.
It’s a big challenge building a truly global business. There are so many things like culture, language, and the way business is done is also very different. Understanding local culture also helps. Sometimes, companies associate with a local partner who understands the local market. With online businesses, the advantage is that there are cost efficiencies and anyone with an internet connection can get access. Another advantage is that there are economies of scale, and some markets may have low competition.
Overall, it’s a big advantage for online businesses because they can target the whole world, and not just their local market.
With almost everything going online and economies becoming more service driven, there is a need for a platform to connect buyers and service providers. If a brand is available all over the world, it builds trust, and even lesser developed markets can benefit from the service.