GUIDELINES FOR GOING GLOBAL
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.