5 Reasons To Expand Your Business Internationally

Take Your Company International

Take Your Company International….. Image Via: Fotopedia

By: Anson Zong-Liscum

Today’s business world has changed dramatically from the traditional styles your bosses and older generations were taught in school.  Businesses before used to stick to being strictly domestic and stayed within close boundaries of their country. This is how most people were taught to conduct business and the only experience they gained through their past skilled experiences. Management was taught in strict, narrow minded methods on how to manage personnel within their respective countries. Many never took into account of business expanding into foreign territories and having to learn such unheard of skill sets in operating within those regions.  Managers nowadays have much more to learn and keep in mind with businesses going international.

Some of the many skill sets that international companies have to teach to their employees include cultural traditions, customs, negotiating skills, foreign environments, and historical backgrounds. With everything becoming globally connected these days every company has found the need to enrich their employees skill sets in new, necessary ways. Employees must now have much larger skill sets in order to be up to date on world business happenings and technology that is continually advancing. Companies are looking at every channel to succeed and strategic goals must include international operations. The following are essential reasons as to why your company needs to look at international options going forward.

1. Stay Competitive: No matter what industry you are involved within today you will find competition continuing to go international. If you are continually trying to improve your company then an international plan is essential to your success as well. This doesn’t necessarily mean you have to construct a new headquarter in a foreign country, but should include operational methods on how to develop relationships and satisfy international customer needs/desires. In today’s world you will always have international customers.

2. Opportunities Abroad: Just as students are taking their educational studies to foreign countries to gain even more enriching opportunities, companies will find themselves in similar situations. What you may do successfully within our own country’s border may reap an even bigger award in another country. This may include new connections, resources, financial gains, and company enhancements. The opportunities are limitless.

3. Growth As a Company: If a company wants to continue to grow and develop a strong business culture around themselves then they must leave their cozy nest as home and take risks into newer territories. As I mentioned earlier in this post company’s must look at developing new channels for their company to improve and teach their employees new essential skill sets to remain competitive in today’s international world. No company wants to be looked down upon or seen as antique in keeping up with the new standards of today’s modern world.

4. Skilled Personnel: In order for a company to succeed long term they must have a talented, intelligent, and multicultural workforce that can take them to new levels. A workforce of different backgrounds and cultures brings forth new ideas, viewpoints, and knowledge that would have otherwise been unheard of in a workforce of similar backgrounds. A multicultural workforce is enhancing in many positive aspects and helps with your company’s expansion internationally. Local employees who are knowledge about the foreign culture give you a great advantage in connections, product development, and research or long term projects.

5. Take Advantage of Technology: Technology has developed for businesses in ways unheard of. However, one main important trait it brings is it’s ability to connect the world. You can deal with customers abroad, manage projects from a distant country, and hold meetings over a video conference. With all these highly influential and useful techniques at your fingerprints why shouldn’t your company be looking at ways to utilize these options to your advantage? Technology continues to develop and that is for people and businesses to put to good use.

Anson Zong-Liscum

Twitter: AnsonZongLiscum


10 Tips to Expanding Your Business Internationally

International Business Expansion

Image Via FotoPedia

By: Anson Zong-Liscum

The business world is growing beyond national borders and expanding across whole continents. With the exabytes of information, advanced technology, and distant communication abilities available today businesses  no longer have as many initial obstacles to struggle through. The internet has dramatically changed the whole method of  doing business in another form that was unknown twenty years ago. With this incredibly growing technology international business is something every business can spin into its’ future plans.

However, expanding a business to a whole new culture and foreign atmosphere doesn’t mean instant success, nor does it mean you will find success. There are a number of criterion  and skill sets needed in order to even find this hint of success. Many business never take the time to look and dig deeper into these areas. In many cases if a business would just do some basic research they could find themselves sailing away in a treasure loaded ship instead of sitting in a slowly sinking boat headed nowhere.

I have gathered up 10 tips for you that I believe could benefit you and your company tremendously. They may seem very minimal to your overall international business strategy that you’ve probably spend hours upon months working on. Take a few minutes and see what I have to offer to you.

1. Basic Research: This many seem like a no-brainer, but you would be surprised at how many business skip this and blindingly go into a country with no realistic expectations on how the country operates. Check out the basic business background of the country and see if it is a market for your products.

2. Understand the Culture: Take some time and actually look at how people handle themselves in different situations and go about with their everyday actions. This is not like home. Things are done differently and people have drastically different cultures that your used to.

3. Learn Basics of the Country’s Language: I shouldn’t have to go further here. People will hold you to a higher value if you make an effort to communicate with them through their native languages. Take a glance at my blog post related to this topic.

4. Develop Connections Within the Foreign Country: Having a personal business connection in the foreign country can help tremendously in a number of essential areas. Try and develop some strong relationships to build upon and branch out your network to further help establish yourself in the region.

5.  Do Your financial Calculations: Does going into this foreign market seem realistic and profitable in the long run? Will you generate enough revenue to sustain yourself and be able to hold yourself against competitors during times of struggle?

6. Look at the Competitor Landscape: Odds are you aren’t the first within your industry to land on this country’s soil. Once again, research. See who your up against in the market and how you  will have to uniquely market yourself to the consumer market. Learn from their mistakes.

7. Government Regulations: Government’s have a dramatic influence on the business culture within their respective countries. See what kind of taxes are enforced, what types of incentives may be earned by opening a business, and your industry specific regulations.

8. Currency: Look at the history of the currency and see how it has fluctuated during different economical periods of the business world. How has its value held up and how will you price your products? Will people’s income ratios be strong enough to buy your products and how will your prices compare on an international comparison landscape?

9. Import/Export: Look at trade barrier’s and restrictions for the country. Many materials needed for developing your products and your finished products will have to be brought in or shipped.  Become clear with the trade regulations and make sure it works in your favor.

10. Set Ambitious Goals: Develop a mindset of achieving great things in a new foreign market. It can be done and if you do many of the simple things such as the ones I listed above you should find yourself sailing a few miles ahead of your competitors.

You can become successful. 

Anson Zong-Liscum

Twitter: AnsonZongLiscum