Whether your company sells software, goods or services, going international is a huge step. However, it is not a process that happens overnight. Going global takes time, planning and excellent management. Here are a few tips to help you along the way:
Familiarize yourself with your new markets
Even if you have mastered the art of doing business in the United States, international business is a whole different ballgame. One of the most important things to consider is the differences in business laws. Most countries operate under their own set of strict business regulations, and it is vital that you adequately research these guidelines before launching your international operations. Not only will it keep you from being non-compliant, it will give you a better understanding of your new markets. Another major step is to conduct research on your new customers and competition. Before business begins, send a team to conduct market research and analysis that will give you the insight you need to cater to your newest patrons and understand their buying patterns.
Do not neglect your other markets
While you may be excited to start business abroad, you should not disregard your customers and locations in the United States. You should ensure that each part of your business, both domestic and global, receives the right amount of attention. As your business expands, you need to ensure that you have the appropriate amount of resourcing to run both markets. Business process management software can help you stay on top of scheduling, staffing and communication with employees. You can create schedules, assign projects and track progress even if you are on a different continent.
An increase in business can lead to a decrease in your free time, but that is no excuse to miss meetings or forget appointments. As demands increase, your organizational level should improve as well. BPM software can also help with this part of taking your business international. A good BPM platform will allow you to keep all your communication, project deadlines and customer lists in an easily accessible web portal. It also allows you to view and share an easy-to-read schedule that is updated in real time. You don't have time to rifle through file cabinets or multiple folders on a computer. By utilizing BPM software, you can make organization simple for yourself.
Streamline asset management
Dealing with import/export laws when doing business abroad can get complicated. You can save yourself stress and frustration by learning these laws, making contacts in the appropriate embassies and conducting transportation in an efficient manner. For example, instead of shipping products over in small amounts, send a larger inventory that can be stored and taken from as needed. It will save you time and money with customs transportation, and it will ensure that your foreign operations are always stocked.
Taking your business international is an amazing accomplishment, but for your venture to be successful you will need the right planning and tools. BPM software is one of the smartest investments you can make as your business expands because it not only saves you money, it can save you time as well. As a business leader, you know those are two assets you cannot afford to waste.
To learn more about what AppWright can do for your business as you prepare to go international, click the image below.