The question is not trivial because too often corporate internationalization is confused with exports: it's not just about looking for sales opportunities abroad.
This idea could have gone well up until 15 or 20 years ago, in an era in which to expand one's business abroad it was enough to arm oneself with a catalogue, a 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.
For some time Octagona has been arguing that internationalizing a business now requires a specific strategic choice, which is as disconnected as possible from occasional and non-constant sales opportunities.
In fact, internationalization requires preparation, a concrete idea, a necessary mental openness to change, proceeding by successive steps and not a simple "let's try and see".
Internationalizing your business must be a weighted choice and not a necessity. It shouldn't be an escape route to take when the situation on the national market is uncertain
The reason is obvious: it is true that opportunities can be found in international markets, but it is a fact that the company that faces them without the proper preparation risks not being able to grasp them.
Every entrepreneur knows how important it is ask questions before acting: it is the essence of strategic planning. That's why ask yourself the right questions 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 a few that you absolutely must bring if you want to expand your business abroad. If you can answer yes to many of these, then you know that your company is ready right now to start an expansion process abroad.
– Which countries is better 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 without further important investments to any requests from abroad?
– Have you already located the more effective logistics model evaluating the pros and cons of different options?
– Do you know how to handle problems related to possible customs barriers and required certifications?
– Do you know how to handle a international payment?
– You have sales literature and a version of the website in English and/or local language?
– Do you have a Company Profile (brochures, digital leaflets) able to explain in detail the added value of your company and your products?
– Have you carried out an analysis of 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 a goal that 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 have 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.
READ ALSO:
Are you interested in our service?
Fill out the form or contact us at the number
+39 059 9770184
