How to Make your Business a Successful International Company

Lizzie Weakley

March 25, 2014

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If it’s time for your business to expand out of your backyard and onto the international scene, there are a variety of factors that go into play. After all, going international not only takes time, effort and financial investments, but it also requires you are prepared for the changing landscapes that come with different economies and countries. That being said, the move to go international can be huge for businesses that are looking to expand. Here are some tips on how to make your business a successful international company.

Determine Whether Or Not Your Product Will Survive

No matter how great your product or service is domestically, that doesn’t mean that the same is going to happen everywhere else in the world. If you are a coffee shop that wants to go international, then you’ll likely have a great opportunity considering how popular coffee is around the world. However, if you have something that is much more niche or specific like Frank Vandersloot, CEO of Melaleuca or other health and wellness-like companies, you’ll want to consider how that will be perceived in a foreign country. Furthermore, you want to consider if the economies of these countries have enough to make your jump international viable. Big box companies strive off of the sheer amount of people who shop at their stores. But if you go to a place where their simply isn’t enough numbers, then you likely won’t succeed. Be sure to consider whether or not your company will do well internationally, and don’t get caught up on how much success you have had domestically.

Learn the Customs

Even the biggest companies in the world have to be considerate of new countries that they go into. Bringing jobs into the economy is great; but treat the employees poorly and you’ll quickly notice backlash. Using organic products sounds wonderful; until you start destroying natural resources. There are a variety of situations that could go into play, depending on what your company offers. But in order to avoid any backlash from the economy, familiarize yourself with the customs and people, and be sure not to polarize them during your move international move.

Know The Rules

The rules and laws of business differ in every single country around the world. You may have everything fine-tuned in your home country, but it is essential that you also learn the rules in any countries that you are expanding to. Keep in mind that for each country you work with, that increases the rules and regulations that your company will have to follow.

Going international is a huge leap for any business. But if done correctly, it can open that company up to an entirely new world of opportunities and options.