Every Business Wants to Expand, But is Yours Ready to Go Global? What to Consider Before Expansion

Table of Contents

The term “multi-national company” carried a different set of implications prior to the global rise of the internet. Expanding a client base overseas and building the capacity and distribution channels to take a company global also involved a different set of challenges back then than they do today. The risks and benefits of taking a company across national borders will vary with your industry, your target market, and your budget, of course. But for the owners of most small and ambitious e-businesses, it’s a good idea to keep these three considerations foremost in mind:
First, do you have the resources to handle international financial transactions? These will include currency conversions and adherence to tax rules in the country where you wish to do business. You’ll also need to conduct research in order to establish an appropriate pricing structure in the new country.

Second, can you afford international shipping channels? If you decide to distribute your product overseas, you will need to pay for transport and delivery, and you may need to establish a receiving center in the country of arrival. If your product is a service, you’ll need to make sure your clients and providers have clear, open and reliable communication channels in place before you begin accepting new contracts.

Finally, how well do you understand your overseas target market? What will your marketing and promotion efforts in the new country look like? Are you prepared to market your product to customers from a different culture who may not speak your language? You’ll need to have a clear plan in mind and volumes of data in hand before you begin to spend your marketing budget on reckless, loosely targeted campaigns.

inbound-marketing

Author Bio

Andy Beohar

Andy Beohar

Andy Beohar is VP of SevenAtoms, a Google and HubSpot certified agency in San Francisco. Andy develops and manages ROI-positive inbound and paid marketing campaigns for B2B & Tech companies. Connect with Andy on LinkedIn or Twitter.

Harness The Full Power Of Digital Marketing

Scroll to Top