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Tristan Anwyn

Tristan Anwyn is an author who writes on topics including social media, SEO that works, and building your business globally.

Tristan Anwyn has written 44 articles for SB Informer.
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Don't Let Your Business be Bound by Boundaries

Tristan Anwyn

July 28, 2015


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These days even the smallest business can go global.

Whether you run a micro business or an SME, you have potential customers all over the world. This is good news for any business - more customers mean more opportunities for profit and for building up a stable and loyal customer base. 

If you want to make the most of global opportunities, what can you do to make sure your small business stays competitive in a global market?

Here are some tips to get you started….

Get to Know Your Potential Market

Research is everything when it comes to reaching out to global markets.

The more you understand about each potential market, the more likely you are to make a success of things. 

It's a good idea to focus on one potential market at a time, and drill down into that to get useful information and find out if there is a customer base there for your product or service.

For each potential market, do some thorough research on the economy, what's popular, which kinds of businesses do well there, and local trading laws.

The better informed you are about each market, the better placed you are to establish your brand in your new location.

Be Sensitive to Cultural Differences

Sensitivity to cultural differences is key to successfully crossing borders with your business.

From the way you brand your product to the way you communicate with overseas colleagues or business partners, cultural sensitivity is of paramount importance.

Take for example your website - a color that is positive in your culture might have a negative connotation elsewhere. Certain phrases might not translate well, or the way each place does business might differ.

Learn as much as you can about the culture you want to branch out into before you start.

Get the Right Infrastructure in Place

Strong communications are a must when it comes to reaching new global markets.

As the article "Removing the Boundaries of Global Business" points out, using an IP phone system can save your business money on international calling.

You can also make use of audio or video conferencing.

This will help you build and maintain good working relationships, letting you have face to face meetings with customers and business partners no matter how far distant they are.

Consider Your Brand in a New Light

It's easy to assume your brand will simply translate well into a foreign market, but that isn't always the case.

KFC famously learned this the hard way, when they translated their slogan "Finger Lickin' Good" for the Chinese market, only to find it came out as "Eat Your Fingers Off." Not quite so appealing!

Your logo, colors and the words you use to tell your brand story all matter.

You also need to consider how well your product or service will fit in with the local business culture and what is usually popular there.

Make Local Connections

Local connections are a gold mine of information and help when it comes to branching out.

Take the time to visit your intended destination and meet face to face with potential business partners, suppliers, distributors or customers.

Good local connections will help your small business stay strong in its new market, and help you to stay in touch with everything from local laws to local culture.

There are more global opportunities for businesses than ever before.

Reaching out for new markets can be great for your small business - but know your market before you start.


                   



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