The question is not trivial because too often business internationalization is confused with exports: It's not simply about looking for sales opportunities abroad.
This idea may have been fine up until 15 or 20 years ago, in an era in which to expand your business abroad it was enough to arm yourself with a catalogue, suitcase and good will.
In fact, today the markets have changed profoundly, and continue to do so very quickly: the appearance of low-cost producing countries, the arrival of increasingly digital tools and the economic and financial crises of recent years have ended up revolutionizing the model of business internationalization.
Octagona has been advocating for some time that internationalizing a company now requires a specific strategic choice, which is as free as possible from occasional and non-constant sales opportunities.
In fact, internationalization requires preparation, a concrete idea, a necessary open-mindedness to change, proceeding in successive steps and not a simple "let's try and see".
Internationalizing your company must be a considered choice and not a necessity. It must not be an escape route to take when the situation on the national market is uncertain
The reason is easy to say: it is true that opportunities can be found in international markets, but it is a fact that the company that enters them without adequate preparation risks not being able to grasp them.
Every entrepreneur knows how important it is Ask yourself questions before acting: this is the essence of strategic planning. Here's why ask yourself the right questions it is the element that it makes the difference in the international growth of your business.
In this week's in-depth analysis we have selected some that you absolutely must bring if you want to expand your business abroad. If you can answer yes to many of these, then you will know that your company is ready now to start an expansion process abroad.
– Which countries are best to target? Why, and how did you choose them?
– Which and how many products does it make sense to propose in the target markets? How do they differ from the competition?
- Have you got a production capacity able to respond to any requests from abroad without further major investments?
– You have already identified the more effective logistics model evaluating the pros and cons of different options?
– You know how to handle any problems relating to any customs barriers and required certifications?
– You know how to handle a international payment?
– You have sales documentation and a version of the website in English and/or local language?
– Do you have a Company Profile (brochures, digital leaflets) capable of explaining in detail the added value of your company and your products?
– Have you carried out an analysis of the shopping habits and the major payment systems used in the target countries?
– You already have one system to manage all new customers who will come into contact with your company?
There would then be many others: which target to provide? How to reach the target (agents, distributors, direct export)?
The questions are many, but the ones we have reported are enough to understand if your company is ready for an expansion path abroad.
Why it is impossible to internationalize if you don't have clear ideas and answers, if you don't understand that you can't improvise, if you don't have a clear strategy of what you want to do.
Finding customers abroad is therefore not a strategy: it is an objective, which must be achieved through a strategy.
In this article we have seen how important it is to prepare for a correct path to internationalize your business, in a conscious and sustainable way in the long term.
If by answering the previous questions you realized that your company is not fully prepared, Octagona can help you achieve your turnover and profit growth objectives: contact us and tell us about your internationalization project by clicking below.
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