Going abroad with your operations can open you up to more clients, better suppliers, potential increased profits and also the chance to franchise and grow. If this sounds like something you want to do, read on to find out what steps to take.
Research the overseas markets
Before diving straight into things, the first thing to do is carry out some market research into the different nations. Look for gaps in the foreign markets that you could potentially fill with your product or service.
Tap into these markets
With certain nations in mind, go out to conferences and exhibitions to get a feel for what the business world is like in these different countries and network with other businesses to help get your name out there.
Deliver quality every time
When you make some deals and partnerships you need to make sure you provide the best service you can to leave the right impression. Everything from your customer support through to your deliveries must be top notch to ensure you entice these clients back. With the latter it pays to use an external company like TNT to sort this out for you, this way you know your goods will be in expert hands.
Be wary of exchange rates
At this point you might start to see some increase trade and a good tip at this stage is to be aware of exchange rates and how they can fluctuate. This way you can help ensure that your pricing, payments and invoices will all be accurate.
Look to setup a headquarters
After a while, if you feel you’re making headway in some of your chosen countries it might be worth looking at setting up a new HQ. This is a definite signal you’re well on your way to international success and also puts you in good stead to start looking even further afield.
This is a process that takes time, so don’t feel like you’re not being a success if things are pretty quiet to start with. Implement some of these strategies and soon you could be on your way to becoming a fully-fledged international business.