Today’s world is becoming increasingly interconnected. Moreover, the rise of social media, online shopping, and internet trends are all rapidly changing the business game. As such, it’s little wonder that people are looking at going international with their businesses.
These days, making the leap from continent to continent is easier than ever. However, it still pays to be well-informed. Check out these key tips for running an international business. Make sure you don’t make the decision blindly.
Enlist the International Professionals
If you don’t know a lot about shipping abroad yourself, then get the help of those who do. A lawyer in the know will be able to advise you as to international laws. Also, a ship broker will be able to advise you on the best way to ship internationally.
However, if you feel you can’t afford to get professional help, then be prepared to do plenty of research. But beware, as this can take some time.
One of the best things you can do is listen to advice from people among your acquaintances who have experience in the industry. These are the people who will have encountered problems you might also run into. They will be able to tell you the best options to choose and what to avoid.
Also, it’s worth looking into all the details before you make any final decisions, as laws are constantly changing. Check this link out for a good place to start.
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Speak the Language
Similarly, if you’re conducting business in international markets, take a moment to consider translation.
If you can speak the language, that’s perfect. Fluency in the language of the country you’re planning to set up in will definitely be an asset, professionally and socially.
In a world in which English is increasingly becoming the de facto language of business, the ability to speak English fluently is an immediate advantage. However, don’t rely upon this. Speaking in the local language is not only polite but also necessary to avoid misunderstandings.
Additionally, if your international business transactions are being conducted through a translator, you want to ensure that any translation is reputable. Otherwise, misunderstandings can happen easily. And misunderstandings can cost you both time and money.
For this reason, don’t rely on automatic translating apps or online services. The stakes are too high. A reputable translator is best if you can’t work your way through the language yourself.
However, even a phrasebook or business dictionary can help. Whatever you do, though, don’t just assume that everyone else in an international setting can speak English!
Thanks to Pixabay on Pexels for the image
Consider Your Market
It’s not enough simply to take the same product and transfer it as-is to a different country. Cultural differences might mean that what works in one country won’t work in another.
The best thing you can do, if possible, is to visit the country yourself. Look around the stores, speak to the locals, and ask questions as to what works and what doesn’t. Some fundamentals are likely to remain the same, of course, such as the age group that’s using your product.
However, since values differ from country to country, you might need to vary your marketing strategy.
A quick glance on YouTube will tell you that advertising is different in different parts of the world, even when it’s for the same company. So look at the international ads for a big multi-national brand like McDonald’s. This can give you an idea as to how the same or similar product is marketed internationally.
Take the International Market by Storm
Do your market research beforehand and set out a strong plan to take the international market by storm.