How Local Businesses Can Go Global
How Local Businesses Can Go Global
BodyWe belong to a global community which is evolving and is broadening the global
market entry for several local businesses.
The digital age has accelerated the pace of global marketing of local businesses,
making it easier than it has ever been.
But, How Can Companies Go Global?
Taking your company global is a dynamic process that requires in-depth research
and analysis of the current market scenario, the target audience & its cultures, the
competition, the market trends & the technicalities and laws that can successfully
introduce a local business and ensure growth in a globally competitive market.
The answer isn’t a simple, ‘tried & tested’ method but integration of research, testing,
analysis and evaluation of different aspects until you find something which works for the
international growth of your business.
Let’s be honest, the process might sound overbearing & complex for the visionary, but
we’re bringing together some common denominators that every local entrepreneur and
business needs to consider in their initiative of #GoingGlobal.
1. Set Predetermined Aim
The golden rule for any budding local business is to set predetermined intentions for
their business and brand. When you decide to pursue a global future for your brand, you
automatically prepare and work towards that aim with the holistic development of the
company, right from the start.
So, set clear aims for your brand, integrate it with business values & functioning.
If you haven’t already, this is a must.
The digital presence is an important tool while expanding your business. Websites,
social media, online marketplaces are the contemporary equivalent to retail stores, with
a diversified audience and wider reach. They bridge the gap between local and global
3. Take a Deep Dive into Research, Analysis & Logistics
Who is the target audience?
What are the current international market trends?
What does the product usability analysis in the target international market indicate?
Is the business capital viable for undertaking this massive expansion?
Are the international laws and policies compatible with your brand values & methods?
Who are your competitors?
These are a few of many important expositions that the brand needs to undertake and
evaluate before stepping into export marketing.
4. Curate Your Niche, Dependable Network
After careful analysis and market research, the next step is to use the network that you
have been building or build a network chain that can help you execute your vision.
5. Ask for Guidance
A successful brand does not hesitate to ask for help when required!
You are an expert of your product and service, and taking this leap from local to global
can be challenging. Take professional guidance and let the expert in the respective fields
aid your growth.
6. Market Testing Cycle
Only when you step into the water, will you realise how cold or hot it is!
Taking your business global is just like that.
Your extensive research and analysis will help you gear up for the market waves, but
only once you enter, will you understand how to swim.
Blunders are Inevitable & the Lessons learnt from it are Invaluable!
Test | Evaluate | Improve | Re-Introduce – make this an eternal bible of growth!
If you are a local business owner with visions of an international future , here are a few
common steps that can bring you closer to achieving your dreams.
The process may not be extremely easy, but in the discovery of a process that suits your
business, you can create an international presence as unique as your brand.