5 steps to expand your business internationally
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Building an international business isn’t easy. With all the daily demands of running a business, it is challenging to develop a global strategy, however, you don’t have to feel overwhelmed.
Global business success is achievable once you break it down into actionable steps. Zadarma, an international company providing premium cloud communication services, shares five ways to make your international business dreams a reality.
Research your new target market
Before you venture into a new market, check if it's right for your business. Identify the pros and cons. What business opportunity exists in that country? Why is now the time to enter this market? Learn about your existing competitors. What’s missing from their offering? How will your business address that gap?
Once you identify the reasons for and against your potential target market, assess if it's wise to expand in that location. In the process, you might learn that it’s best to launch ASAP, or discover a better opportunity elsewhere. Doing the research will help you make informed decisions that will benefit your business in the long-term.
Build a strong team
An international business is only as good as the team behind it. Who you hire and the roles they play is important. As a founder, it's your responsibility to provide a global vision for the whole team. Everyone has their unique strengths and abilities. You need to identify each member's strengths and empower them to drive your expansion strategy.
Decide if you need to hire employees with local market insights to nurture your growth. Growing a globally-minded team is a major effort. Ensure that your team has the stamina and motivation to fulfil their role in alignment with your global vision.
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A successful international business doesn’t appear overnight. Focus and enter one country at a time. International growth is a long-term effort. Be ambitious and realistic about what you can achieve in the short and long-term.
After you’ve established a presence in one market, evaluate your performance. Ask yourself important questions about what went well and what could be better. Get your team involved too.
Though each market is unique, there will be lessons from each experience, so document the journey to improve your global strategy. You'll discover what suits your business.
Market your business locally
Establish a local presence online and offline. Customers should be able to find your website through local search engines. Identify what your ideal customer is looking for, so you can build your site as the solution to their problems.
Form strategic partnerships with local businesses. Partnering with known companies in a similar niche will increase your visibility to your target market. Select partners that give potential customers a positive impression of your business. The power of positive association is real. If you shine together, it’s a win-win situation for all parties.
Create a virtual office
Build trust by opening a virtual office in your new area. If you’re launching into a new market, but don’t yet have a physical presence, a virtual office is a quick way to increase your credibility and establish a good reputation. Virtual offices enable you to have a local phone number even if you are based elsewhere.
This is where Zadarma comes in! Zadarma offers local telephone numbers and low-cost bundles that suit every size of business from the solopreneur to a team of 400 people. It’s also easy to set up, so you can start building a local presence without committing to the expenses of opening a new office.
All you need is a phone and laptop connected to the internet. Zadarma allows you to have a local landline number of your target market. With their free cloud-based service, you can create a local phone number in minutes, and you can use it to expand your business across multiple countries too.
Whether you begin with a brilliant team or grow with a virtual office, share what makes your business unique and use these steps to chart your journey to global business success!