After turning a solid idea into a business and seeing it grow in its early stages, it is natural to want to expand your business to target a new audience. Looking to go international with your business is a reasonable expectation especially if it has been seeing a lot of success domestically. It is important, however, to realize that entering this new market is much easier said than done. Every new region will have its own set of unique challenges whether it be different business protocols or the difference in cultural customs of the consumers of that area. You want to make sure you are aware of these things to ensure that you are fully equipped to handle anything thrown at you.
Cross-cultural competency is something to be aware of and prepare for. You will want to get a solid grasp of any assumptions or biases that will allow you to identify the cultural differences that could put your business in jeopardy abroad. You also will want to research this new market beforehand and familiarize yourself with any potential to be better prepared and avoid any surprises. Cross-cultural competency is something to be aware of and prepare for. You will want to get a solid grasp of any assumptions or biases that will allow you to identify the cultural differences that could put your business in jeopardy abroad.
Another thing to consider is that pitching your business can be much different when going to a new location. You have to be able to adjust your pitch to meet the local standards of the new market you are entering. Sometimes it can be a small tweak at the content or the format, or you may have to completely change your entire approach to make for a successful presentation. As you look to market to more global audiences, you want to be aware of regional regulations involving advertising and sales tactics. There are some regions of the world where advertising is subject to approval by the various governing bodies depending on the product. There are also countries like Germany, Belgium, and France that have strict policies when it comes to competitive messaging. Take the Verizon commercial for example. These tend to compare 3G coverage across the country between Verizon and AT&T’s networks. This form of marketing has gained success here in the US, but probably wouldn’t be permitted in other countries. You also want to keep in mind that different sales tactics like contests, deals, and premium offers are regulated much differently in other countries, so you want to be sure that any tactics your business likes to use will coincide with the region’s regulations.
Finally, picking the ideal location for your company’s expansion headquarters is a key factor to consider. You want to be sure that the location you choose is based on the needs of your business and not just based on general biases and any given trends you may already know.