
4 Ways to Take Your Small Business Internationally (and Travel More!)
By Melissa Lamson
So, you want to take your small business global but you aren’t quite sure how. It is a big world out there, and no country, culture, or community is the same. But take heart. Recognizing that fact is the first step to expanding internationally.
When I launched my first business in Berlin, I made the decision while on a walk. At the time, I didn’t know a single soul in Germany; I didn’t even speak the language. And I wasn’t even thirty years old yet. But I had an insatiable curiosity to learn about the country in which I was living. This served me well and it can you.
Knowing as much as possible about the place in which you want to do business is paramount. In fact, a recent Worldwide ERC survey of senior executives in a hundred global corporations found 95 percent of the respondents believe national cultures of the places they do business play an important or very important role in the success of their business mission.
Here are a few tips to help you go global:
Use international social media platforms. Renren in China, Orkut in Brazil, and XING in Germany are all channels that have huge membership bases. They are used for both personal and business reasons, and recruiters go to them to source talent for local and international companies. These channels could be great tools to assess whether your business, product, or service might appeal to certain local markets. Using them can also be a great way to make contacts with people living there; you might even join a group of other professionals.
For example, I’m on XING and have a large professional network of European connections. I travel four to six times a year to Europe, and when I do, I post the dates of my travel and schedule meetings with key business partners. These posts inevitably generate more business for me.
Meet with local investment organizations. Economic development agencies, organizations, and even firms exist to help encourage and support foreign investment in their respective countries. Set up meetings to get a lay of the land, and learn about key contacts, strategic opportunities, political landscapes, and legal protocols. Every market has little nuances that may catch you off guard and make your investment more expensive or difficult than you planned for.
For example, Sub-Saharan Africa is a boom economy because of investments in the oil and mineral business, and the government is concerned about how business may impact society and the community. To be successful in this area, companies must have close ties with the government; if you try to do business in this region without state officials and diplomats at the table, chances are your deals will be blocked.
Attend international conferences. These offer invaluable opportunities to learn about hot topics and form key partnerships in your prospective areas of growth. Scout key conferences in your industry, and go with a stack of business cards and a readiness to talk.
Ask for introductions. Always. You could be one pleasantry away from forming a strategic partnership, learning about a promising opportunity, or gaining valuable insight or talent. You can never know too many people or have too many people know you—and your business.
My curiosity to learn everything I could about Germany set me up for success. I was comfortable taking the time to learn about the market before diving in. I strongly believe if you do the same, you will be successful in your international expansion goals.
About the Author
Post by: Melissa Lamson
Melissa Lamson is one of the world’s foremost intercultural trainer and consultant. As president and CEO of Lamson Consulting, she uses her decades of global expertise to help companies and business leaders cultivate a successful global mindset, bridge cultures, and achieve real results. To learn more about how to enter into the U.S. market, read my book Market Entry into the USA: Why European Companies Fail and How to Succeed (Management for Professionals), available on Amazon.
Company: Lamson Consulting
Website: www.lamsonconsulting.com
Connect with me on Facebook, Twitter, LinkedIn, and Google+.