While most small business owners would like to expand slowly, in our very small world it is not unusual for businesses to make the leap from local to global rather quickly. This can be an unbelievable opportunity or a recipe for failure depending on how this quick expansion is handled. If you are ready to take your business to the next level, here are five ways to do so smoothly and successfully.
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Evaluate your brand.
The first thing to think about is whether your brand is one that can compete on a global level. Are your logo design and other visual elements the very best that they can be? Will they resonate with a national and international audience the way they have been meaningful to a local one? If you cannot feel confident about taking your brand global, talk to a logo designer about what you can do to refine it.
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Study the prospective market.
Because going global is a huge step, it is one that you should undertake with care. First, you should be as sure as you can—close to certain, in fact—that this step will be best for you and your company. Second, be sure that there is a need for your product or service in the area you are considering and that people have the means and the inclination to buy from you. As a last step, take a trip to the nation in question to get a feel for your new venture and to see for yourself whether you can make this global expansion work.
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Be culturally sensitive.
Dealing with another country often means dealing with another culture. This means new customs, new holidays, and new rules of etiquette. Learn what will be expected of you and talk to people who have dealt with the culture in question before with success. More important, try not to be easily offended yourself. If all parties are accepting and tolerant, there is no reason for culture to be a barrier to success.
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Familiarize yourself with local laws and customs.
As with business in the United States, all business agreements should be put into writing in the form of contracts. However, you will need to make sure that these agreements are enforceable in both nations, which may necessitate consulting lawyers in both areas. You should also take the time to find out what customs and ‘common laws’ may affect any contracts that you make. This will not only protect you from legal woes, it will keep you can accidentally offending or disappointing your overseas partners.
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Maintain good communication.
One of the keys to maintaining global business ties is to have good communication and to be clear about all expectations. Luckily, there are ways to accomplish this without spending a ton of money. Many business owners find that face to face chat programs such Skype are more personal and, best of all, completely free ways to keep in touch with their global partners, suppliers, and customers. Email and telephone calls can also be used when that personal touch is not necessary.
