Should You Take Your Business International?
When you have started growing your business and hit the ground running something to think about is how far are you going to take it? With the internet and so many ways to assist us these days, customers on the other side of the world can become a customer to you in one click. So what kind of things do you need to think about to take your business out into the big wide world. Here are some helpful tips to get you started.
“Only those who will risk going too fat can possibly find out how far one can go” - T.S. Eliot
The first thing you will want to think about is researching where you are looking to branch out to first. Each new place will have different etiquette on business, different trends, and different ways to reach your desired audience. Look into local trends, holidays, and anything that you may be able to adapt to your business strategy.
Another helpful way to market to a new audience is using the local people. There are bloggers, influencers, and magazines all over the world, big and small. Use these to your advantage and let them try some of your products or services to get an idea of how well your products will sell. With them, then promoting them on their social channels you will be able to see comments and what kind of feedback they are getting for it.
Everything you need to know about accepting international payments can seem daunting and confusing at first but once you have read up about it and seen what is on offer you can see the benefits of accepting the foreign currency. It will encourage people to shop with you more as accepting their currency can take away charges they may incur. It also takes away the hassle of exchange rates and costs when doing returns or refunds.
Looking at the competition as they may have an advantage of already being based in the new area you are looking to expand. So scope them out and see how you differ, there may be something that you offer that they don’t which can tip you over the edge. If there isn't, look at implementing something to entice the customers in with samples, offers, and freebies to show off how amazing your business really is.
Once you are ready to kick start the growth and expansion of your business it is important to keep checking in with how things are doing and monitoring what does and doesn’t work. It will help you prepare for what to do next. It is always important to remember it is a journey and not a race, there may be some setbacks but with hard work and perseverance, it will all be worth it.
And lastly, look for support, there are mentors, groups on social media and so many different ways to interact with people in the same boat as you. They can give advice and also be a support network.