How to Go Global

The current, sad state of the United States’ economy has led many businesses to look to expand their horizons to other options around the globe. It makes sense; business is bad in one place so you go to another option. Now more than ever this rings true as we are in the midst of a recession. It’s not easy to globalize your business all of a sudden, but it certainly will pay dividends in the long-term. Provided below are a couple tips for the business owner, small or large, that is looking to expand his business overseas:

1. Diversify your areas of business. You may construct your product in Vietnam. You may market your product from Fifth Avenue in New York City. You may launch your product in Sydney, Australia. The key here is that you’re spreading your wings and making your name visible in different areas around the globe. You produce in countries where it’s cheaper to do so; you hire marketers from the cutting edge marketing center of the world; and you sell your product to a demographic that demands it.

2. Spread your tentacles. If you can afford to buy companies in other countries then do so. Even if you’re used to success in the United States, you need to be ready to adjust your business to the demographic that you’re entering into contact with. You will have to retool your business plan, so embrace it rather than defying it.

3. Market your business in an easy, understandable manner. What sold your products off the shelf in Tacoma may not fly in Tokyo. You have to do research about your new customer base and market accordingly. An area in the world may have no use for a hot-selling version of your product that’s been successful in the U.S.; so you tweak it and make a version that it’s useful to these people.

4. Start out on the internet. The internet offers a way to test the waters in a new part of the globe without having to finance infrastructure before knowing whether or not you can make it work in this market. You will have to spend money on advertising, but this is pennies compared to constructing stores and warehouses to make your presence known.

5. Forge a strategic global alliance. Do your homework and find a company that may have similar ideas as yours but going in different directions. If you sell the tire, then find a car manufacturer that is looking for reliable wheels for their automobiles. You can export together and join company lines to produce a name that attracts customers that are drawn to either one of or both of the companies in the alliance.

This post was contributed by Heather Johnson, who is an industry critic on the subject of production manager. She invites your feedback at heatherjohnson2323 at gmail dot com.