There’s a lot of potential when it comes to growing your business these days.
Whereas it used to be that you could really only operate in the location where your business founded, today, the internet and other technological tools have made it possible to expand your business into new territories, both domestically and overseas.
However, while there’s plenty of potential for expansion, it’s not as straightforward as we'd like it to be.
And this is especially the case when it comes to operating overseas. There are plenty of businesses that have tried to move into a foreign market, but which have ultimately ended up failing.
This is because while it’s relatively easy to make moves into a new market (thanks to trade deals and so on), finding the right balance for the business can be difficult.
After all, marketing and selling your products or services in another country is not like selling them at home. It requires a completely different approach; and the greater the difference in cultures is, the more different the approach must be.
An advert that worked especially well in one market may fall flat in another. There have also been some marketing attempts that fell into the ‘comedy’ bracket because of language barrier issues.
Aside from trying to sell the services of a company, a business that plans to grow overseas will also need to deal with the many admin and logistical matters that occur when operating overseas.
To learn more about this issue and how it can be overcome, check out the infographic from USC below.
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