SlideShare a Scribd company logo
1 of 14
10 questions to ask
before expanding overseas
Introduction
 Deciding when to go global is a tough call for entrepreneurs. They may be
tempted by opportunities in hot markets like China, India or Brazil, but
could risk venturing abroad before they’re fully prepared.
 While selling overseas extends your company’s reach, you don’t want to
move into international markets too soon and use resources you need to
continue growing on your home turf.
a. Have I built a solid
foundation at home?
 Make sure your business is stable
on a day-to-day basis before
pursuing overseas markets.
 You should determine whether
your business could function well
in your absence.
 Companies also need to have the
distribution running smoothly
enough so that they don’t have to
focus on it constantly.
b. Do I have the bench strength for
international expansion?
You will need to assign one or two
senior employees to your
international effort. You need to
determine whether you can afford
to move people from their current
responsibilities, as well as
whether they bring–or can quickly
develop–the necessary skills for
overseas sales and marketing.
c. Will I find the talent I need
in another country ?
 If you decide to expand, finding local
talent can be a challenge. Some
countries simply do not have
enough of the skilled labor
companies may need.
 You also will be competing with
established companies that know
where to find talent and how to
recruit local candidates.
 One potential source: local
educational institutions such as
engineering programs and business
schools.
d. How will I need to adapt
to the local culture?
 Some countries such as
France and Japan expect
companies to adapt to the
local culture.
 That may mean customizing
your product or service to
meet local customers’ tastes.
 At the very least, you will
need to put your marketing
message in the local language
and make sure the meaning
translates correctly.
e. Do I understand the cultural
implications of the sales process ?
 Closing a deal abroad can be a vastly
different experience than you’re
probably used to. Some cultures
struggle to say, “No, we aren’t
interested” in a product/service,
which means you can have an
extremely long and costly sales
process that never leads to a sale.
 To avoid this problem, look for
customers who have bought similar
items or services in the past. And
sometimes it’s better to cut off talks
if they lag for too long.
f. Have I sized up the
local competition ?
 Understanding your competitors
abroad can provide insights into
how – and whether – to expand.
 Many companies don’t take time
to figure out whether similar
products and services are already
available in a new market and
what they would need to offer to
compete successfully.
 Spending time abroad and
speaking with potential
customers can help to avoid
costly mistakes.
g. Do I need an
international partner ?
 For many companies, it’s critical
to find a local partner when
expanding overseas. Partners
can help facilitate sales, while
keeping costs down for the
home office.
 Forming a partnership takes
time – often, a year or longer –
and requires plenty of due
diligence to find the right fit.
h. Am I financially able to sustain
an overseas expansion ?
 Expanding internationally requires
a start-up-like period that’s longer
than many entrepreneurs
anticipate.
 You have to expect to lose money
for a while. So, you not only need
enough capital to make the initial
investment, but you also should
have a long-term financial plan in
place.
 You will likely need to update the
plan to reflect actual revenue and
expenses as you ramp up in the
new market.
i. Where is the potential
for red tape ?
 Expanding beyond the domestic
market can mean lots of extra
paperwork, especially for
medical and technology
companies.
 With such a variety of
regulations surrounding
exports, it’s important to
understand what’s required for
your particular industry before
attempting to expand abroad.
j. Should I simply expand
my online presence ?
 For some companies with a strong
website, it may not be necessary to
establish a physical presence abroad.
 You may be able to offer overseas
shipping and expand payment options
without the hassle of extensive tax
regulations.
 But at least in some markets, you
would need to develop websites in
another language that accept the local
currency. Online shoppers are more
likely to buy when the experience is in
their local language [and] local
currency.
More...
• Free webinar: « Step by step for exports »
This webinar will help you to learn about the world marketplace and how your company
can do business there. It concentrates on the overall principles of exporting and
describes the processes that businesses commonly use to develop export strategies
tailored to their needs.
• To register:
http://www.international-trade-training.net/cfciins15092011
• On line training : "Practical aspects of international trade »
The objectives are to familiarize contractors, manufacturers, exporters, importers, traders
and service providers a comprehensive view of international trade. Short-term training
will help to clarify and develop the skills to act locally and abroad in foreign countries.
• To register:
http://www.international-trade-training.net/tiki-index.php?page=PracticalaspectIT
Contact us
Site internet:
http://www.international-trade-training.net
ID Facebook:
International Trade Training Center
ID Twitter:
ITTCcanada
ID LinkedIn:
International Trade Training Center ITTC

More Related Content

What's hot

Government influence on trade
Government influence on tradeGovernment influence on trade
Government influence on tradeRajesh Patel
 
EPRG Characteristics -international-business
EPRG Characteristics -international-businessEPRG Characteristics -international-business
EPRG Characteristics -international-businessDinker Vaid
 
International Financial management
International Financial management International Financial management
International Financial management Kira_Lio
 
LERMS liberalized exchange rate management system
LERMS liberalized exchange rate management systemLERMS liberalized exchange rate management system
LERMS liberalized exchange rate management systemAmanpreet Singh
 
5 Herstatt Risk And Collapse Of Herstatt Bank
5 Herstatt Risk And Collapse Of Herstatt Bank5 Herstatt Risk And Collapse Of Herstatt Bank
5 Herstatt Risk And Collapse Of Herstatt Bankp4usiib
 
International monetary system
International monetary systemInternational monetary system
International monetary systemVishnu Vijay
 
Multinational Financial Management: An Overview
Multinational Financial Management: An OverviewMultinational Financial Management: An Overview
Multinational Financial Management: An OverviewDr. Hesniati S.E., M.M.
 
Chapter 19 PowerPoint
Chapter 19 PowerPoint Chapter 19 PowerPoint
Chapter 19 PowerPoint rogergomes14
 
Jio's competitiveness at the Global level
Jio's competitiveness at the Global levelJio's competitiveness at the Global level
Jio's competitiveness at the Global levelAnil Bahuman
 
The rise of robo advisors by planet of finance
The rise of robo advisors by planet of financeThe rise of robo advisors by planet of finance
The rise of robo advisors by planet of financerahulp9999
 
World Trade Organization
World Trade OrganizationWorld Trade Organization
World Trade OrganizationNikki Enriquez
 
The history of international monetary system
The history of international monetary systemThe history of international monetary system
The history of international monetary systemSuleyman Ally
 
International business finance Foreign Exchange Markets
International business finance Foreign Exchange MarketsInternational business finance Foreign Exchange Markets
International business finance Foreign Exchange MarketsMeghna Baid
 
Government influence on exchange rate
Government influence on exchange rateGovernment influence on exchange rate
Government influence on exchange rateManas Saha
 
The Story of Uber In Communicating To Its Key Stakeholders In Singapore On Th...
The Story of Uber In Communicating To Its Key Stakeholders In Singapore On Th...The Story of Uber In Communicating To Its Key Stakeholders In Singapore On Th...
The Story of Uber In Communicating To Its Key Stakeholders In Singapore On Th...Isaac Ahmad
 

What's hot (20)

Government influence on trade
Government influence on tradeGovernment influence on trade
Government influence on trade
 
EPRG Characteristics -international-business
EPRG Characteristics -international-businessEPRG Characteristics -international-business
EPRG Characteristics -international-business
 
International Financial management
International Financial management International Financial management
International Financial management
 
LERMS liberalized exchange rate management system
LERMS liberalized exchange rate management systemLERMS liberalized exchange rate management system
LERMS liberalized exchange rate management system
 
5 Herstatt Risk And Collapse Of Herstatt Bank
5 Herstatt Risk And Collapse Of Herstatt Bank5 Herstatt Risk And Collapse Of Herstatt Bank
5 Herstatt Risk And Collapse Of Herstatt Bank
 
International monetary system
International monetary systemInternational monetary system
International monetary system
 
Multinational Financial Management: An Overview
Multinational Financial Management: An OverviewMultinational Financial Management: An Overview
Multinational Financial Management: An Overview
 
International Monetary System
International Monetary System International Monetary System
International Monetary System
 
Chapter 19 PowerPoint
Chapter 19 PowerPoint Chapter 19 PowerPoint
Chapter 19 PowerPoint
 
Jio's competitiveness at the Global level
Jio's competitiveness at the Global levelJio's competitiveness at the Global level
Jio's competitiveness at the Global level
 
The rise of robo advisors by planet of finance
The rise of robo advisors by planet of financeThe rise of robo advisors by planet of finance
The rise of robo advisors by planet of finance
 
World Trade Organization
World Trade OrganizationWorld Trade Organization
World Trade Organization
 
The history of international monetary system
The history of international monetary systemThe history of international monetary system
The history of international monetary system
 
Direct export
Direct exportDirect export
Direct export
 
International business finance Foreign Exchange Markets
International business finance Foreign Exchange MarketsInternational business finance Foreign Exchange Markets
International business finance Foreign Exchange Markets
 
Regional Economic Integration
Regional Economic IntegrationRegional Economic Integration
Regional Economic Integration
 
Wto presentation
Wto presentationWto presentation
Wto presentation
 
Government influence on exchange rate
Government influence on exchange rateGovernment influence on exchange rate
Government influence on exchange rate
 
The Story of Uber In Communicating To Its Key Stakeholders In Singapore On Th...
The Story of Uber In Communicating To Its Key Stakeholders In Singapore On Th...The Story of Uber In Communicating To Its Key Stakeholders In Singapore On Th...
The Story of Uber In Communicating To Its Key Stakeholders In Singapore On Th...
 
Uber case analysis.
Uber case analysis.Uber case analysis.
Uber case analysis.
 

Viewers also liked

Marketing En Formation Documentaire 12 Mars Toulouse
Marketing En Formation Documentaire 12 Mars ToulouseMarketing En Formation Documentaire 12 Mars Toulouse
Marketing En Formation Documentaire 12 Mars ToulouseOttilia HENRIET
 
L\'utilisation des médias sociaux, avant, pendant et après la foire commerciale
L\'utilisation des médias sociaux, avant, pendant et après la foire commercialeL\'utilisation des médias sociaux, avant, pendant et après la foire commerciale
L\'utilisation des médias sociaux, avant, pendant et après la foire commercialeKarl Miville de Chene EMBA PACI
 
iPhone pricing model
iPhone pricing modeliPhone pricing model
iPhone pricing modelvibhorchhabra
 
Icc Revue Echanges Sept 2010 Incoterms Complet
Icc Revue Echanges Sept 2010 Incoterms CompletIcc Revue Echanges Sept 2010 Incoterms Complet
Icc Revue Echanges Sept 2010 Incoterms CompletRenaud Favier
 
M1 introduction à l'environnement économique mondial short
M1   introduction à l'environnement économique mondial shortM1   introduction à l'environnement économique mondial short
M1 introduction à l'environnement économique mondial shortKarl Miville de Chene EMBA PACI
 

Viewers also liked (20)

M9 les sci et les stratégies de prix
M9   les sci et les stratégies de prixM9   les sci et les stratégies de prix
M9 les sci et les stratégies de prix
 
Marketing En Formation Documentaire 12 Mars Toulouse
Marketing En Formation Documentaire 12 Mars ToulouseMarketing En Formation Documentaire 12 Mars Toulouse
Marketing En Formation Documentaire 12 Mars Toulouse
 
L\'utilisation des médias sociaux, avant, pendant et après la foire commerciale
L\'utilisation des médias sociaux, avant, pendant et après la foire commercialeL\'utilisation des médias sociaux, avant, pendant et après la foire commerciale
L\'utilisation des médias sociaux, avant, pendant et après la foire commerciale
 
Opportunite Africaine Sans Video
Opportunite Africaine Sans VideoOpportunite Africaine Sans Video
Opportunite Africaine Sans Video
 
Consultation avec Contacts Monde
Consultation avec Contacts MondeConsultation avec Contacts Monde
Consultation avec Contacts Monde
 
Internet Strategie Internationale
Internet   Strategie InternationaleInternet   Strategie Internationale
Internet Strategie Internationale
 
M3 stratégies de développement de marchés
M3   stratégies de développement de marchésM3   stratégies de développement de marchés
M3 stratégies de développement de marchés
 
How Canadian exports with a strong dollar
How Canadian exports with a strong dollarHow Canadian exports with a strong dollar
How Canadian exports with a strong dollar
 
iPhone pricing model
iPhone pricing modeliPhone pricing model
iPhone pricing model
 
M2 approvisionnement et sources d'informations
M2   approvisionnement et sources d'informationsM2   approvisionnement et sources d'informations
M2 approvisionnement et sources d'informations
 
Education et technologie de l,information
Education et technologie de l,informationEducation et technologie de l,information
Education et technologie de l,information
 
Icc Revue Echanges Sept 2010 Incoterms Complet
Icc Revue Echanges Sept 2010 Incoterms CompletIcc Revue Echanges Sept 2010 Incoterms Complet
Icc Revue Echanges Sept 2010 Incoterms Complet
 
Step By Step Guide
Step By Step GuideStep By Step Guide
Step By Step Guide
 
Faire des affaires avec le canada ci
Faire des affaires avec le canada ciFaire des affaires avec le canada ci
Faire des affaires avec le canada ci
 
M1 introduction à l'environnement économique mondial short
M1   introduction à l'environnement économique mondial shortM1   introduction à l'environnement économique mondial short
M1 introduction à l'environnement économique mondial short
 
10 questions to ask before expanding overseas
10 questions to ask before expanding overseas10 questions to ask before expanding overseas
10 questions to ask before expanding overseas
 
M14 transaction internationale
M14   transaction internationaleM14   transaction internationale
M14 transaction internationale
 
Gouvernment trade services
Gouvernment trade servicesGouvernment trade services
Gouvernment trade services
 
Les MarchéS Non Traditionnels Une Avenue Pour Les Pme2
Les MarchéS Non Traditionnels Une Avenue Pour Les Pme2Les MarchéS Non Traditionnels Une Avenue Pour Les Pme2
Les MarchéS Non Traditionnels Une Avenue Pour Les Pme2
 
La capacitation de los educadores
La capacitation de los educadoresLa capacitation de los educadores
La capacitation de los educadores
 

Similar to 10 questions to ask before expanding overseas

the marketers guide to exporting
the marketers guide to exportingthe marketers guide to exporting
the marketers guide to exportingGiovanni Sansovini
 
the marketers guide to exporting
the marketers guide to exportingthe marketers guide to exporting
the marketers guide to exportingSarah-Jane Wall
 
Promoting your business abroad. A marketer's guide to exporting.
Promoting your business abroad.  A marketer's guide to exporting.  Promoting your business abroad.  A marketer's guide to exporting.
Promoting your business abroad. A marketer's guide to exporting. BurCom Consulting Ltd.
 
Internatiolization of companies
Internatiolization of companiesInternatiolization of companies
Internatiolization of companiesIren Titarenko
 
Putting Digital Marketing at the Centre of your International Business Strate...
Putting Digital Marketing at the Centre of your International Business Strate...Putting Digital Marketing at the Centre of your International Business Strate...
Putting Digital Marketing at the Centre of your International Business Strate...Enterprise Ireland
 
International startup expansion Wayra jul/14
International startup expansion Wayra jul/14International startup expansion Wayra jul/14
International startup expansion Wayra jul/14Fábio Póvoa
 
Nature, importance & scope of International Marketing
Nature, importance & scope of International Marketing Nature, importance & scope of International Marketing
Nature, importance & scope of International Marketing babar mushtaq
 
Putting Digital Marketing at the Centre of your International Business Strat...
Putting Digital Marketing at the Centre of your International  Business Strat...Putting Digital Marketing at the Centre of your International  Business Strat...
Putting Digital Marketing at the Centre of your International Business Strat...Enterprise Ireland
 
Putting Digital Marketing at the Centre of your International Business Strat...
Putting Digital Marketing at the Centre of your International  Business Strat...Putting Digital Marketing at the Centre of your International  Business Strat...
Putting Digital Marketing at the Centre of your International Business Strat...Enterprise Ireland
 
Putting Digital Marketing at the Centre of your International Business Strate...
Putting Digital Marketing at the Centre of your International Business Strate...Putting Digital Marketing at the Centre of your International Business Strate...
Putting Digital Marketing at the Centre of your International Business Strate...Enterprise Ireland
 
7 Tips to Prepare for Global Expansion
7 Tips to Prepare for Global Expansion7 Tips to Prepare for Global Expansion
7 Tips to Prepare for Global ExpansionDemandware
 
EGS-eBook-Are-You-Making-Smart-Sourcing-Decisions
EGS-eBook-Are-You-Making-Smart-Sourcing-DecisionsEGS-eBook-Are-You-Making-Smart-Sourcing-Decisions
EGS-eBook-Are-You-Making-Smart-Sourcing-DecisionsBrian R McIlhenny
 
How to Pitch an Idea
How to Pitch an IdeaHow to Pitch an Idea
How to Pitch an IdeaJohnAdomako
 
Looking at international markets in the construction industry - RICS Article
Looking at international markets in the construction industry - RICS ArticleLooking at international markets in the construction industry - RICS Article
Looking at international markets in the construction industry - RICS ArticleDonnie MacNicol
 
Strategies for Service Exporters - Are You Export Ready?
Strategies for Service Exporters - Are You Export Ready?Strategies for Service Exporters - Are You Export Ready?
Strategies for Service Exporters - Are You Export Ready?Michelle Hustler
 
Putting Digital Marketing at the Centre of your International Business Strat...
Putting Digital Marketing at the Centre of your International  Business Strat...Putting Digital Marketing at the Centre of your International  Business Strat...
Putting Digital Marketing at the Centre of your International Business Strat...Enterprise Ireland
 
How can companies benefit from international recruitment converted
How can companies benefit from international recruitment convertedHow can companies benefit from international recruitment converted
How can companies benefit from international recruitment convertedwaysandworksconsulti
 

Similar to 10 questions to ask before expanding overseas (20)

the marketers guide to exporting
the marketers guide to exportingthe marketers guide to exporting
the marketers guide to exporting
 
the marketers guide to exporting
the marketers guide to exportingthe marketers guide to exporting
the marketers guide to exporting
 
Promoting your business abroad. A marketer's guide to exporting.
Promoting your business abroad.  A marketer's guide to exporting.  Promoting your business abroad.  A marketer's guide to exporting.
Promoting your business abroad. A marketer's guide to exporting.
 
Internatiolization of companies
Internatiolization of companiesInternatiolization of companies
Internatiolization of companies
 
Which foreign market should we select first
Which foreign market should we select firstWhich foreign market should we select first
Which foreign market should we select first
 
Putting Digital Marketing at the Centre of your International Business Strate...
Putting Digital Marketing at the Centre of your International Business Strate...Putting Digital Marketing at the Centre of your International Business Strate...
Putting Digital Marketing at the Centre of your International Business Strate...
 
International startup expansion Wayra jul/14
International startup expansion Wayra jul/14International startup expansion Wayra jul/14
International startup expansion Wayra jul/14
 
Nature, importance & scope of International Marketing
Nature, importance & scope of International Marketing Nature, importance & scope of International Marketing
Nature, importance & scope of International Marketing
 
Putting Digital Marketing at the Centre of your International Business Strat...
Putting Digital Marketing at the Centre of your International  Business Strat...Putting Digital Marketing at the Centre of your International  Business Strat...
Putting Digital Marketing at the Centre of your International Business Strat...
 
Putting Digital Marketing at the Centre of your International Business Strat...
Putting Digital Marketing at the Centre of your International  Business Strat...Putting Digital Marketing at the Centre of your International  Business Strat...
Putting Digital Marketing at the Centre of your International Business Strat...
 
Putting Digital Marketing at the Centre of your International Business Strate...
Putting Digital Marketing at the Centre of your International Business Strate...Putting Digital Marketing at the Centre of your International Business Strate...
Putting Digital Marketing at the Centre of your International Business Strate...
 
Export Plan
Export PlanExport Plan
Export Plan
 
7 Tips to Prepare for Global Expansion
7 Tips to Prepare for Global Expansion7 Tips to Prepare for Global Expansion
7 Tips to Prepare for Global Expansion
 
EGS-eBook-Are-You-Making-Smart-Sourcing-Decisions
EGS-eBook-Are-You-Making-Smart-Sourcing-DecisionsEGS-eBook-Are-You-Making-Smart-Sourcing-Decisions
EGS-eBook-Are-You-Making-Smart-Sourcing-Decisions
 
How to Pitch an Idea
How to Pitch an IdeaHow to Pitch an Idea
How to Pitch an Idea
 
Looking at international markets in the construction industry - RICS Article
Looking at international markets in the construction industry - RICS ArticleLooking at international markets in the construction industry - RICS Article
Looking at international markets in the construction industry - RICS Article
 
Strategies for Service Exporters - Are You Export Ready?
Strategies for Service Exporters - Are You Export Ready?Strategies for Service Exporters - Are You Export Ready?
Strategies for Service Exporters - Are You Export Ready?
 
Putting Digital Marketing at the Centre of your International Business Strat...
Putting Digital Marketing at the Centre of your International  Business Strat...Putting Digital Marketing at the Centre of your International  Business Strat...
Putting Digital Marketing at the Centre of your International Business Strat...
 
How can companies benefit from international recruitment converted
How can companies benefit from international recruitment convertedHow can companies benefit from international recruitment converted
How can companies benefit from international recruitment converted
 
Feasibility Analysis
 Feasibility Analysis Feasibility Analysis
Feasibility Analysis
 

More from Karl Miville de Chene EMBA PACI

An online presence in order to export with a digital strategy
An online presence in order to export with a digital strategyAn online presence in order to export with a digital strategy
An online presence in order to export with a digital strategyKarl Miville de Chene EMBA PACI
 
Développer une présence en ligne en commerce extérieur
Développer une présence en ligne en commerce extérieurDévelopper une présence en ligne en commerce extérieur
Développer une présence en ligne en commerce extérieurKarl Miville de Chene EMBA PACI
 
Les outils financiers et les outils de gestion des risques
Les outils financiers et les outils de gestion des risquesLes outils financiers et les outils de gestion des risques
Les outils financiers et les outils de gestion des risquesKarl Miville de Chene EMBA PACI
 
Les technologies de l'information et leurs applications en commerce internati...
Les technologies de l'information et leurs applications en commerce internati...Les technologies de l'information et leurs applications en commerce internati...
Les technologies de l'information et leurs applications en commerce internati...Karl Miville de Chene EMBA PACI
 

More from Karl Miville de Chene EMBA PACI (20)

Pas-a-pas a l'exportation - un guide pour le Mali
Pas-a-pas a l'exportation - un guide pour le MaliPas-a-pas a l'exportation - un guide pour le Mali
Pas-a-pas a l'exportation - un guide pour le Mali
 
An online presence in order to export with a digital strategy
An online presence in order to export with a digital strategyAn online presence in order to export with a digital strategy
An online presence in order to export with a digital strategy
 
Développer une présence en ligne en commerce extérieur
Développer une présence en ligne en commerce extérieurDévelopper une présence en ligne en commerce extérieur
Développer une présence en ligne en commerce extérieur
 
Pour debuter evaluer son potentiel export.pptx
Pour debuter evaluer son potentiel export.pptxPour debuter evaluer son potentiel export.pptx
Pour debuter evaluer son potentiel export.pptx
 
RÉPUBLIQUE DU CONGO - commerce extérieur.pptx
RÉPUBLIQUE DU CONGO - commerce extérieur.pptxRÉPUBLIQUE DU CONGO - commerce extérieur.pptx
RÉPUBLIQUE DU CONGO - commerce extérieur.pptx
 
Les sociétés de commerce internationales
Les sociétés de commerce internationalesLes sociétés de commerce internationales
Les sociétés de commerce internationales
 
Pas à-pas à l'exportation - mali
Pas à-pas à l'exportation - maliPas à-pas à l'exportation - mali
Pas à-pas à l'exportation - mali
 
Formation des formateurs 2021
Formation des formateurs 2021Formation des formateurs 2021
Formation des formateurs 2021
 
Education et ti
Education et tiEducation et ti
Education et ti
 
Incoterms 2020
Incoterms 2020 Incoterms 2020
Incoterms 2020
 
Pleins feux sur le marketing international
Pleins feux sur le marketing internationalPleins feux sur le marketing international
Pleins feux sur le marketing international
 
Transport international
Transport internationalTransport international
Transport international
 
formation des formateurs en espagnol
formation des formateurs en espagnolformation des formateurs en espagnol
formation des formateurs en espagnol
 
La logistique et le transport
La logistique et le transportLa logistique et le transport
La logistique et le transport
 
La gestion du service international
La gestion du service internationalLa gestion du service international
La gestion du service international
 
Les outils financiers et les outils de gestion des risques
Les outils financiers et les outils de gestion des risquesLes outils financiers et les outils de gestion des risques
Les outils financiers et les outils de gestion des risques
 
Les aspects juridiques d'une transaction internationale
Les aspects juridiques d'une transaction internationaleLes aspects juridiques d'une transaction internationale
Les aspects juridiques d'une transaction internationale
 
Les technologies de l'information et leurs applications en commerce internati...
Les technologies de l'information et leurs applications en commerce internati...Les technologies de l'information et leurs applications en commerce internati...
Les technologies de l'information et leurs applications en commerce internati...
 
L'approvisionnement, l'importation et les douanes
L'approvisionnement, l'importation et les douanesL'approvisionnement, l'importation et les douanes
L'approvisionnement, l'importation et les douanes
 
La recherche, l'analyse et la sélection de marchés
La recherche, l'analyse et la sélection de marchésLa recherche, l'analyse et la sélection de marchés
La recherche, l'analyse et la sélection de marchés
 

10 questions to ask before expanding overseas

  • 1. 10 questions to ask before expanding overseas
  • 2. Introduction  Deciding when to go global is a tough call for entrepreneurs. They may be tempted by opportunities in hot markets like China, India or Brazil, but could risk venturing abroad before they’re fully prepared.  While selling overseas extends your company’s reach, you don’t want to move into international markets too soon and use resources you need to continue growing on your home turf.
  • 3. a. Have I built a solid foundation at home?  Make sure your business is stable on a day-to-day basis before pursuing overseas markets.  You should determine whether your business could function well in your absence.  Companies also need to have the distribution running smoothly enough so that they don’t have to focus on it constantly.
  • 4. b. Do I have the bench strength for international expansion? You will need to assign one or two senior employees to your international effort. You need to determine whether you can afford to move people from their current responsibilities, as well as whether they bring–or can quickly develop–the necessary skills for overseas sales and marketing.
  • 5. c. Will I find the talent I need in another country ?  If you decide to expand, finding local talent can be a challenge. Some countries simply do not have enough of the skilled labor companies may need.  You also will be competing with established companies that know where to find talent and how to recruit local candidates.  One potential source: local educational institutions such as engineering programs and business schools.
  • 6. d. How will I need to adapt to the local culture?  Some countries such as France and Japan expect companies to adapt to the local culture.  That may mean customizing your product or service to meet local customers’ tastes.  At the very least, you will need to put your marketing message in the local language and make sure the meaning translates correctly.
  • 7. e. Do I understand the cultural implications of the sales process ?  Closing a deal abroad can be a vastly different experience than you’re probably used to. Some cultures struggle to say, “No, we aren’t interested” in a product/service, which means you can have an extremely long and costly sales process that never leads to a sale.  To avoid this problem, look for customers who have bought similar items or services in the past. And sometimes it’s better to cut off talks if they lag for too long.
  • 8. f. Have I sized up the local competition ?  Understanding your competitors abroad can provide insights into how – and whether – to expand.  Many companies don’t take time to figure out whether similar products and services are already available in a new market and what they would need to offer to compete successfully.  Spending time abroad and speaking with potential customers can help to avoid costly mistakes.
  • 9. g. Do I need an international partner ?  For many companies, it’s critical to find a local partner when expanding overseas. Partners can help facilitate sales, while keeping costs down for the home office.  Forming a partnership takes time – often, a year or longer – and requires plenty of due diligence to find the right fit.
  • 10. h. Am I financially able to sustain an overseas expansion ?  Expanding internationally requires a start-up-like period that’s longer than many entrepreneurs anticipate.  You have to expect to lose money for a while. So, you not only need enough capital to make the initial investment, but you also should have a long-term financial plan in place.  You will likely need to update the plan to reflect actual revenue and expenses as you ramp up in the new market.
  • 11. i. Where is the potential for red tape ?  Expanding beyond the domestic market can mean lots of extra paperwork, especially for medical and technology companies.  With such a variety of regulations surrounding exports, it’s important to understand what’s required for your particular industry before attempting to expand abroad.
  • 12. j. Should I simply expand my online presence ?  For some companies with a strong website, it may not be necessary to establish a physical presence abroad.  You may be able to offer overseas shipping and expand payment options without the hassle of extensive tax regulations.  But at least in some markets, you would need to develop websites in another language that accept the local currency. Online shoppers are more likely to buy when the experience is in their local language [and] local currency.
  • 13. More... • Free webinar: « Step by step for exports » This webinar will help you to learn about the world marketplace and how your company can do business there. It concentrates on the overall principles of exporting and describes the processes that businesses commonly use to develop export strategies tailored to their needs. • To register: http://www.international-trade-training.net/cfciins15092011 • On line training : "Practical aspects of international trade » The objectives are to familiarize contractors, manufacturers, exporters, importers, traders and service providers a comprehensive view of international trade. Short-term training will help to clarify and develop the skills to act locally and abroad in foreign countries. • To register: http://www.international-trade-training.net/tiki-index.php?page=PracticalaspectIT
  • 14. Contact us Site internet: http://www.international-trade-training.net ID Facebook: International Trade Training Center ID Twitter: ITTCcanada ID LinkedIn: International Trade Training Center ITTC