You need to know the What and Why to go international… What do you mean you ask? It’s a simple way to ask about your company’s strategy…
By Peter Klinge, Jr.
Consider a strategic exercise. This area is often overlooked by small companies before executing an international entry.
For the benefit of an owner/operator company of a few million dollars in revenue to companies many times larger here are some essential “What and Why” elements to consider in international expansion. Irrespective of industry vertical, b2b or b2c, direct sales, retail or channel sales you’ll want to think about these 6 areas as to dos:
- What does your company have to offer in the 1st markets of opportunity;
- Clear sense of the company’s mission and vision;
- Be informed about the relative alignment of your company to the market under consideration;
- Understand how to adapt the current revenue generation process to the expansion market(s);
- Ownership/Leadership commitment to support a medium to long term plan;
- Readiness of Leadership to support team execution with the right people and resources.
More detail on each item in the next post.