9 Tips For Doing Business Globally
The information age has made it more and more important for brands & companies to be able to function “glocally”. All to often I’ve found folks who want to go “global” aren’t doing the appropriate amount of due diligence to put themselves in a position to win. Here is an excerpt from an article on Inc Magazine’s website that will point you in the right direction. I selected my favorite tips from the lot. Check them out….. -!YG
9 Tips For Doing Business Globally
Learn the Customs
“Building rapport with people and understanding their value system†are essential tools for doing business globally, says Mercedes Alfaro, founder and president of First Impression Management, a company that offers customized training to executives on reputation management. Study up on local customs of dress, salutation, and hospitality—and be prepared to eat anything that is served to you on a business call overseas.
Study the Local Laws
Overseas, your company will be subject to unfamiliar regulations and, depending on your agreement with distributors, you may have significant legal exposure, says Brad Peterson, a business lawyer and partner at the law firm Mayer Brown. Keeping that in mind, “get solid contracts with the companies you’re working with, preferably contracts that you can enforce in the United States,†he advises. And, when you’re doing business in a non-English speaking country, make sure you can communicate effectively with your local partners.
Check In Often
If you’re looking to expand globally, you’ll need to be in constant communication with distributors, sales reps, and other colleagues. Phone and e-mail can be impersonal; using online-video conferencing may be the best alternative. Products such as Cisco WebEx and Skype are cheap, easy to set up, and accessible by pretty much any Internet connection. And, if you’re looking for great picture quality, check out LifeSize’s HD video conferencing service.
Study the Market
“Look at the marketplace you want to go into,” says Adamson. “Who’s there? Who’s winning? Who’s losing?†The more you’re familiar with the country’s local demographics, the easier it will be to determine your market and promote your brand. You must also find out what the competition is like. The Department of Commerce website is a good place to start for helpful information including country fact sheets and press releases.
CLICK HERE TO READ THE FULL ARTICLE
No Comments
No comments yet.
Comments RSS TrackBack Identifier URI
Leave a comment
