Should ambitious companies always look to Export ?
The business world is increasingly like a business village. Boundaries are seemingly blurred.
The new generation of digi-creative entrepreneurs are so in touch and inspired by new trends from other continents.
Governments around the World are funding technology start up ventures and are actively encouraging established businesses to expand overseas….in the hope of stimulating their local economy.
International legal harmonisation and e-commerce regulation is happening much faster than ever before.
With this in mind, one wonders why one still meets companies that only just want to trade in their home, native market….It is probably because they have been badly burnt in the past or know of companies that have badly burnt by an export misadventure.
Dynamic, ambitious technology companies surely need to write global business plans from day one, even if international roll out does not take place until year 3 or 5.
Multinationals now frequently source best practice work methods from emerging countries. The USA, Japan and leading European economies no longer have a monopoly of breakthrough patented technology.
UKTI, International banks (like HSBC), Accountancy and Law Firms can provide guidance on trading in every country in the World.. Transaction Focus and other practical sales and marketing partners can now rapidly plan, set up and implement sustainable revenue generating sales and marketing plans.
Yes, most export markets are different and different verticals require different approaches.
British companies often prefer to initially expand into Commonwealth countries, that have similar legal framework and cultural understanding.
US companies often opt to initially sell into Canada and then branch out into the UK or Ireland as a springboard for Europe….This is more of a “comfort zone” step by step approach ..rather than a long term, analytical SCOPE focussed strategy.
A Norwegian oil service technology might sell better into Nigeria or Alaska rather than into neighbouring Scandinavian countries.
A global view is key. It is simply about searching best fit global clients and markets through out the World. Engaging alliance partners with international reach should be looked into.
A Global strategy Planning Workshop is a good place to start.
Test Selling and Test Marketing in new territories is also a wise way to go.