Expanding or selling your business at an international level is a dream of many entrepreneurs, but unfortunately few of them managed to do so. The reason is that many of them fail to take certain steps before taking such a decision.
Before thinking of selling your business globally you need to examine how things internally. Have you done everything you could do for your business in your own country? If the answer is a loud “Yes”, then you are ready to do things in order to “taste” the success of your business at another level. Here is a piece of advice to do so:
1. Look at your local business success in the mirror. Thus, you can be realistic. More than likely, the success from “home” comes from the fact that you did a good job in terms of expansion. People know where to find you, know the quality of the product or service you provide and buy them repeatedly.
Now is the time to take as a model this activity on the foreign market. Get close to a foreign market that is easy to enter. It is extremely useful to get into one where the locals speak your language. After making this first step and you saw that you did a good job there, you can choose other markets. Eventually, you get the same level of success as a local business, but maybe more profit.
2. Increase the number of employees, if needed. Many of us realize that people make a business successful and not vice versa. However, not all employees know how to expand their business internationally. Maybe not even you – the Founder, President or CEO – know nothing about this new way of growing your business.
Start by adapting the skills, interests and resources that you already used to build business locally. Soon, you’ll develop an organizational culture based on shared values and assumptions that will guide your business conduct worldwide. Use these resources with the intention of finding the best way to conduct a business abroad. In this process, your team will discover that there are extremely talented individuals.
In the hiring process, always look for someone who has the qualities of a great salesmanship, persistence, an interest in the international, bi or multi language capabilities, cultural empathy and a habit of paying attention to detail.
3. Create an account for yourself and your business on social networks. If you overlook this, you will only inhibit a successful sale of your business. Online platforms increase your chances of being discovered by potential foreign clients. For this you have to create an account on Twitter, Facebook and LinkedIn. If you want to sale your business as a whole, then you must list on websites specialized in such things, for example: Businesses-properties.com. Accessibility is the key, so do what you can to help the buyers without complications.
4. Show me the money! The most important thing for you before international expansion or selling a whole business is to negotiate how they will pay. A financial advisor can guide you with several strategies to achieve full and timely payments while minimizing risks.
5. Go on issues and global trends. The whole world has become virtual, instantly bringing everything we need right to our door. Avoid uncertainty that can kill any idea. If you have the power to make decisions and to find information and resources to embrace the unknown, you will see that any types of sales can work well both locally and globally.