Like any business decision, going global comes with risks… but so does standing still! There are some organizational factors to consider when exporting so you work well prepared, with the best possible chances of success.
- Commitment - First, it is important to have the commitment of the management team to fund an international sales program and put in place the necessary staff to deliver increased production capacity.
- Go-to-Market Strategy - It is also needed to decide upon a global sales structure and go-to-market strategy. Options include working via an agent, getting a distributor, via a license agreement, establishing a partnership, setting up an overseas office or through an acquisition.
- Structure - Also, when looking to grow your business internationally, consider if the existing ownership structure is adequate or whether new external expertise is needed on-board. Companies should also consider bringing in external expertise as key players to strengthen their organizational capabilities.
- Scale - Evaluate whether it is possible for economies of scale to be achieved in your business like reducing production costs as volume increases.
- Marketing Costs - Also consider the cost of acquiring new customers and the cost of servicing customers in other markets. Your current business should get stronger and benefit from the expansion.
- Investment - Companies should also consider whether they are prepared to bring in additional investors to financially strengthen the company. This decision could have implications for the ownership structure of your business, so it is important to consider organizational fit.
Many companies decide against exporting because of the uncertainties that come with going internationally. The good news is that there is help! We can help you manage those risks and get your export strategy right the first time. We will work with you on systematically developing an export plan to avoid common stumbling blocks before you start burning cash and missing opportunities. It will empower you to be confident that you are entering a new market with the best possible chances of success. Let’s go global!
DuartePino is a management advisory firm that combines in-depth customer knowledge with practical expertise in marketing to help clients create sustainable business growth. We can provide your organization with a fresh perspective, a proven process that invests in the outcome, and the tools for successful execution. From Fractional CMOs to business advisors, contact us to learn how our team can help with growth strategies for your organization.