DO YOU HAVE A ROBUST CHECKLIST FOR INTERNATIONAL GROWTH?
Most firms follow legal experts and accountants and “employment of record” companies
as they claim to offer a viable international route to market.
Are they not making international expansion more expensive and slower?
Do they really have practical in country / sector and channel specific sales and marketing experience?
Are their interests not largely fee focused?
Are they adding a layer of extra cost without helping you generate revenue?
Are they really qualified to help you find the right local partner?
Do they really care about your business model and sustained organic growth?
WHY NOT ENGAGE REVENUE GENERATORS FIRST TO VALIDATE CHANNEL OR COUNTRY VIABILITY
BEFORE ENGAGING EXPENSIVE CONSULTANTS?
- Bring clarity to your global strategy by test selling first
- Learn from previous international expansion…..
Seek out different partners with different perspectives
- Narrow down your potential new markets …SCOPING
- Analyse your market entry options …
– TEST SELL to establish revenue streams first
- . Balance the risks with opportunities
– DE-RISK – Create revenue streams first
- Carry out local competitor intelligence and consumer demand analysis …
– Find your edge vs competitors
- Understand finance options and choose appropriately
- Identify future operational and reporting considerations …
CONSULTANTS WILL TELL YOU:
Collect data and analyze the market.
Define goals and develop a high-level strategy.
Select an expansion strategy.
Prepare your product for the new market.
Adapt your company’s organizational structure.
Define your localized marketing strategy.
Set up compliant legal processes.
Prepare tax and financial statements and processes.
Define your budget.
Network with local businesses
IS THIS NOT A LITTLE ACADEMIC AND ESOTHERIC?
THE TRANSACTION FOCUS VIEW IS TO KEEP IT SIMPLE UNTIL WE CAN DO IT ALL WITH AI AND VR
Written by Charles Smee, Founder and Managing Director of Transaction Focus
contact@transactionfocus.com 3 Shortlands, Hammersmith, London W6 8DA
Telephone: +44 (0) 207 127 8070