Growing a business during a sales slump with international expansion

Executive overview

When domestic markets slow, established businesses see revenue compress fast. The fix is not cutting — it is adding new markets where you start at zero, so any deal is upside.

NP Digital grew international revenue 74% year-over-year during a down economy by launching nine new regional offices in five months while the existing five regions drove the actual revenue. Profitability requires unit economics discipline and a strong financial team, not just top-line focus.

New markets create growth regardless of macro conditions — at zero revenue, every deal is a win.

Expanding internationally to offset domestic slowdown

• In an established market at $100M+ revenue, a bad economy directly hurts your numbers.
• In a new market starting at $0, deals close regardless of conditions — you can only go up.
• NP Digital started the year in five regions; added nine more (Italy, Spain, Singapore, Mexico, Colombia, Malaysia, Hong Kong, Japan, France) within five months.
• Growth still came from the original five regions — new regions take time to contribute.
• Full revenue payoff from international expansion expected in 2025.
• Each region costs millions to stand up — original estimates of $1M per region proved too low.

Revenue vs. profit

• Revenue without profit is meaningless — spending more than you earn is worse than breaking even.
• Public markets now demand profit unless you're growing 40–50%+ year-over-year.
• Even high-growth companies face pressure if losses compound faster than growth.
• NP Digital is currently cashflow-negative by design — profits are being reinvested into international expansion.
• Reinvesting profits back into the business is painful short-term but necessary for sustained growth.

Shipping fast vs. chasing perfection

• Overanalysis is the most common reason founders stall — ship, get feedback, adapt.
• For a software product with no paying customers, the cost of shipping imperfect work is near zero.
• Perfectionism is a mental habit, not a rational calculation.
• Most early products are not great — iteration after launch beats delayed perfection.

Hiring strategy

• Target candidates who have worked at multiple competitors — they know the space.
• Prioritise those who stayed long enough to earn repeated promotions — loyalty and performance signal.
• Consecutive promotions across employers mean others validated their ability, reducing interview-room noise.
• LinkedIn outreach works better as "do you know someone like you?" than a direct offer — reduces friction and often converts the target anyway.

Focus and saying no

• Laser focus on the core business while growth is strong.
• Only start looking at adjacent opportunities when growth slows.
• Saying no to nearly everything preserves execution quality on the main bet.