GUIDE­LINES FOR GO­ING GLOBAL

Finweek English Edition - - INSIGHT: INTERNATIONAL -

Here are some handy tips har­vested from Inc.com:

Start early: “The first rule of thumb is to start think­ing glob­ally early,” ad­vises Allen Adam­son, man­ag­ing di­rec­tor of the US mar­ket­ing firm Lan­dor, and author of BrandSim­ple. “The sooner you be­gin to do busi­ness abroad, the sooner you’ll be able to track met­rics and gauge what is – and what is not – ef­fec­tive.”

Do your home­work: “Look at the mar­ket­place you want to go into,” says Adam­son. “Who’s there? Who’s win­ning? Who’s los­ing? The more you’re fa­mil­iar with the coun­try’s lo­cal de­mo­graph­ics, the eas­ier it will be to de­ter­mine your mar­ket and pro­mote your brand.”

Get fa­mil­iar: “Build­ing rap­port with peo­ple and un­der­stand­ing their value sys­tem are es­sen­tial tools for do­ing busi­ness glob­ally,” says Mercedes Al­faro, founder and pres­i­dent of First Im­pres­sion Man­age­ment.

Learn the lo­cal laws: Over­seas, your com­pany will be sub­ject to un­fa­mil­iar reg­u­la­tions and, de­pend­ing on your agree­ment with dis­trib­u­tors, you may have sig­nif­i­cant le­gal ex­po­sure, warns Brad Peter­son, a busi­ness lawyer and part­ner at the US law firm Mayer Brown. Keep­ing that in mind, “get solid con­tracts with the com­pa­nies you’re work­ing with,” he ad­vises.

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