Taking your business global is something that is the dream of every entrepreneur. What happens when that dream becomes a reality? We are going to be looking at some of the steps you should take when it comes to taking your business across the seas.
Image From – Pexels
When it comes to going global, just picking up a map and thinking that your services may go down well, just won’t cut it. You need to get heavy into market research.
Knowing your sales is the first step, you should identify where the majority of your international sales come from. Then you should take the second step to analyze the economy of this country. You may after all, just be going through a small life for your business that is caused by panic.
Some countries have a temporary shortage and will mass buy from abroad, this is something you should look into before taking any steps to open an office in a new location across the map.
Finding the perfect location is going to be your absolute key to succeeding, depending on your business model, of course, it could be more important than you think. Opening a retail store in an already saturated location would pay nothing but a detriment to your business.
Staffing on a global scale is going to be a difficult task. With your current team, they will no doubt be people of your local area and people you have gotten to know well during your working time together.
When it comes to staffing overseas, this can be a brand new challenge in itself. You should always consider cultural differences and in some regards way of life. If you were opening a business in some areas of Europe for example, your staff will more often than not head out for an afternoon snooze.
You should make an effort where possible to interview your new team yourself and get to know them. After all, this new team will be responsible for a whole new source of income for you.
You should also take advantage of payment systems that can amalgamate your payroll into one such as Cloudpay and frequent conference calls will be a must. This will result in you building relationships with your staff.
Setting up a new advertising campaign will be an absolute must. Just because your existing advertising campaign works in one location, does not mean it will work in another. It absolutely will not work in another.
As we have previously looked at, there will be cultural differences. Even basic things such as the color of your company flyers could be deemed as unlucky by potential clients. So it is equally as important to get to know your clients.
Creating hype around your business in a new country will be great for you. You are going global to see more growth and not to sustain remember. When it comes to marketing, in some countries having a gimmick or being humorous will be highly beneficial.
You should consider hiring a local marketing consultant to help guide you through your global marketing process, at least until you find your feet.