Wait until $100M ARR before expanding to new markets if core market has massive headroom
When growing triple-digits annually in a market that is only single-digit penetrated, resist expanding to adjacent markets no matter how ready the products are. Extreme focus compounds over time. Only expand when you have reached scale ($100M+ ARR) and have resources to truly do multi-platform right.
When to use
When you have a product ready for new markets but your current market still has 90%+ of addressable customers yet to acquire. When growth is strong and team is already stretched. When saying yes to expansion means diluting focus from a proven winner.
Don't do this
Expanding to new markets because products are ready, because competitors are there, or because you are bored with current market—before you have achieved dominance in your core market. Spreading resources thin before the flywheel is fully spinning.
1 Founder Who Did This
Had ServiceNow, Microsoft, and other platform backups ready for years but refused to launch them. Killed all products except Salesforce backup. Only expanded after crossing $100M ARR when flywheel was running and they had resources to do multi-platform right.