Are you ready to start expanding your business? There are several ways to do it, including diversifying your products or services and opening a new office or store. In this truly globalized world, however, taking your business in an international direction could be one of the best things you do. And thanks to the internet, there's no need to actually be in a new country if you want to set up there. There are ways to establish a presence without having to set up an entirely new team in a different country. If you're thinking of taking the international route, you might be able to get things rolling sooner than you think.
I have worked as an attorney for several global businesses and the world is getting smaller every day. So much so that expanding outside the U.S. is easier than ever before. I would be remiss if I did not tell you to make sure you check the laws of new countries before entering. That is where I have found the biggest distinctions when entering a new country. Typically the operations aspects of a business are the same but the laws that regulate them are what change from country to country. Nonetheless these tips may help as you think through expansion.
Branch Out Online
The internet makes it simple to start trading online, whether you sell services or physical products. If you're able to deliver your products around the world, you can easily start promoting your business everywhere. You might want to start off by marketing your business in other English-speaking countries. Then you could consider doing some things like translating your website and offering customer service in different languages. You don't have to hire people permanently. You can use outsourcing services to make things a lot easier and more affordable. I have started to use Fiverr.com a lot and you will be surprised how many folks from all over the world are available to help with any kind of business.
Easily Set Up in Other Countries
To carry out some business in other countries, it will be easier and sometimes necessary to create a legal business entity. You might think this is tricky, but it could actually be a lot easier than you think. If you want to set up your business in the UK, you can visit www.yourcompanyformations.co.uk and choose the International Company Pack to get your business set up, as well as enjoying a range of other benefits. Registering a new business can often be done quickly and without too much trouble. However, do check the rules for international businesses before you do it as some have requirements for board of directors members to live in that country and many other distinctions to be cautious of.
Find Partners in Other Countries
Teaming up with people in other countries is another great way to expand your business. If you make and sell a physical product, it might be expensive to export or deliver elsewhere. Finding a supplier or manufacturer who can help you out in a different country is a sensible solution, reducing costs for you and your customers. You could also think about partnering with a store similar to yours and exchanging products. You can also do the same if you sell services instead of physical products. You can find people to work with who can attend to customers in their own country, which is especially useful if you want customers in different time zones or who speak different languages.
If you're looking for ways to expand your business, actually going to different countries to try and forge some connections could be a good idea. You can spend your time trying to meet people and even looking for new customers. It's difficult to really get to know somewhere new enough to do business there if you've never been. Traveling might help you pin down which countries you think could be good markets for your brand.
You don't have to spend millions on going global with your business. With some smart planning, it can be easier and much more affordable than any other time in history. What are your tips for going global?
M.E.L. is an attorney and small business entrepreneur whose mission is to help professionals conquer the workaday world with style and poise.
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