Let’s face it. There are times when you need to look further afield to get what you need. As a business owner, it is your responsibility to get the best deals for your company. All of us would love to make the most of homegrown talent, but it’s not always financially accessible in such a competitive market. Would you look to international sources as suppliers? Would you look to enter global marketplaces to boost your reach and your income?
There are, of course, many problems associated with entering global markets. Each country has its own laws and cultural customs that you must be aware of to trade successfully. There may be language barriers and even visa restrictions that prevent you entering the country personally. If travel is a problem how are you going to trade?
You can enjoy a global reach without suffering the pitfalls if you have adequate local knowledge. You may have to outsource this. Consulting agents can help you work more closely with offshore companies and international businesses. If you’re looking to establish an international presence yourself, this could be essential to your success. The last thing you want is to make a costly mistake.
Chances are you’re not looking to move your entire life to a new country. Once you’ve established an international office, you will probably want to recruit a manager who can take care of things on your behalf. Hiring a representative that you can trust isn’t always easy. Use recruitment agencies that are established in that territory.
Once you’ve hired and trained your new manager, you will need to establish your role as the boss, even though you’re not physically there. This isn’t always easy. Excellent management and leadership skills take time to develop. You will need to engage and motivate the team you have overseas. This requires regular and clear communication. You might enjoy video conferencing or written emails. Either way, always follow up, so you know your intentions are clearly understood.
Thanks to social media and technology, it is easier than ever to reach new global markets. You can quickly develop international customer bases. You might find you are relying on digital media far more than other marketing solutions. This certainly saves you money, and you can easily narrow your reach to target the most ideal prospects. Still, there is a danger that your communications could be misunderstood. Incorrect interpretations can be damaging. You must find native speakers of the languages you’re translating to.
Retail outlets in international territories can also be hit-and-miss. Are you familiar with local attitudes, customs, and ideals? Even the biggest retailers can get it wrong. Tried and tested approaches may work closer to home, but be prepared to offer a little flexibility for fine tuning of your methods abroad. Even if it goes against your brand rules, try to offer the customer an experience they are already accustomed to. Over time, your brand will gain popularity in the new territories, and you can introduce more of your personal ideals. Have you gone global yet?