Opening offices in 120 countries is ‘not a badge of honor’—pick 30 instead says iconic former tech CEO |
Opening offices in 120 countries is ‘not a badge of honor’—pick 30 instead says iconic former tech CEO
When startups hit hyper-growth phase, they look to go global. That’s a good strategy—until it’s not. According to Meg Whitman, who enjoyed a run as one of the dominant CEOs in Silicon Valley, her experience leading HP and eBay taught her that, when it comes to global expansion, there can be too much of a good thing.
“It is not a badge of honor to be in 120 countries,” said Whitman, recalling the peak of HP’s expansion. “We were in 190 countries [but] catch this: 40 countries made up 85% of the revenue and 125% of the profits.”
Whitman, speaking at Fortune Brainstorm Tech in Aspen, added the better strategy was the one she pursued at eBay, which expanded to only around 30 countries. “That was a really smart thing to do, but anyone who’s like excited about your 60th country is sadly........