Expanding business operations in a new country is one of the things that every businessman is aiming to do. However, going global is not as simple as reusing the formula that made your business successful locally. Expanding into a new market is as hard as making new business. Fortunately, there are international business experts like Maarten De Jeu who offer guidance for businesses who plan to expand their business in a new location.
Maarten De Jeu is an international business expert known for being the founder of SVM Business Advisory. The SVM Business Advisory offers advisory services for companies using De Jeu’s technical skills. international experience, and industry knowledge. De Jeu already coached a lot of executives, including those from the Fortune 100 companies and technology startups. He also has knowledge of institutional and cultural settings in a lot of countries.
According to Maarten De Jeu, a business should first test the feasibility of its products before launching it to other locations. It is recommended to check the market demand of an area to a certain project. You can do this by checking if your product has an existing market in the area. Another thing to consider is the existing competition that can challenge your entry to your selected country. After that, focus on creating a strategy that can make locals consider to try your products.
Another important factor is understanding and learning the culture and language of the area. The reason for this is a misused word can negatively affect your marketing campaign. De Jeu recommends hiring a company representative that can help you understand the country’s culture and language. With this, your business can avoid making moves that can offend your potential customers. Another benefit of hiring a company representative is to supervise the translation of instructions printed on the packaging. Learn more: https://about.me/maartendejeu
In addition to market analysis and learning both culture and language. Maarten De Jeu also recommends hiring a business professional for handling laws and regulations. This aspect of the business will affect a lot of things, such as the location of the facility, business partnerships, hiring employees, and sourcing out materials. One big mistake might mean a violation of the law. This does not only damage your reputation and finances, but it can also be a reason for your business bankruptcy.
Last but not least is to create a solid and sound strategy and structure for your new international branch. Look for the available materials that can be sourced out locally in order to cut the cost of producing your products. Establish good partnerships with suppliers and distributors. Make a system where you can produce your products with the same quality as that from your local business. Make a standard of product quality to help your members maintain quality.