'Tele2' CEO reveals why some Lithuanian businesses never expand beyond Lithuania's borders

A significant number of Lithuanian businesses are failing to reach their full growth potential because they are not thinking globally, according to Petras Masiulis, CEO of Tele2 for Lithuania and the Baltic states. He observes that while these companies possess the necessary talent and skills, their ambition is often limited to the domestic market, preventing them from exploring international opportunities.

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Sometimes Lithuanian businesses think too small. We have very good people, good products, but often all thinking is limited to the Lithuanian market. It seems that if it's successful here, then everything is fine, but today the world is much wider.

Masiulis points to a prevailing local mindset where success within Lithuania is perceived as an endpoint rather than a stepping stone. "Sometimes Lithuanian businesses think too small," he stated. "We have very good people, good products, but often all thinking is limited to the Lithuanian market. It seems that if it's successful here, then everything is fine, but today the world is much wider."

The CEO highlights that businesses in other markets, particularly in the US, often develop products and services with a global scale in mind from the outset. In contrast, Lithuanian companies sometimes hesitate to even consider larger-scale operations. This reluctance stems not from a lack of capability, but from an "ambition deficit" and a fear of leaving their comfort zones.

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When you start expanding, more uncertainty, more risk appears. You need to hire people, delegate, make decisions faster. However, not everyone feels ready for this emotionally. Sometimes the fear of growing becomes a bigger obstacle than competition.

Masiulis emphasizes that the fear of growth and the associated uncertainties and risks are greater obstacles than market competition. He notes a tendency in Lithuania to maintain tight control, which makes it difficult for businesses to transition to the next stage of development that requires delegation and system building. However, he asserts that embracing this transition is crucial for sustained success. The CEO concludes that with the advancements in internet, technology, and artificial intelligence, the global market is more accessible than ever, urging businesses to change their mindset and allow themselves to think bigger.

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If you yourself seem small, you will remain so. Growth begins with attitude – with the question of whether you allow yourself to think more broadly. Usually, the limits are not in the market, but in our heads.