Scaling your venture across multiple markets is still the most effective way of increasing its value… if you get it right. But if you’ve decided to “go global”, which markets should you sell to? Here’s four international market selection mistakes to avoid as you craft your international strategy.
“Because of the political, social and economic volatility that rocked the world in 2020, international market selection is more important than ever. So how do you get it right?
In a word, “research”. Choosing the right market isn’t rocket science. It takes some time and effort, but if you do your homework you’ll know that you’ve made the right decision when the time to choose comes. Here’s why.”
In my previous posts on market selection, I’ve talked about some of the common pitfalls to avoid as you embark on the international market selection process, as well as four questions to help you get started. Once you have narrowed down your list of potential target markets, it’s time to take a closer look at […]
In this series on choosing the right international market in 2021, the year of volatility, we’ve looked at common pitfalls, questions to ask, and barriers to entry. In this blog, I want to run you through the final considerations that you need to take into account before you go ahead and hitch your wagon to […]
If you’re new to ‘going global’, working with a local partner can be a good way to get started. Teaming up with a business that already has feet on the ground can bring huge gains. Whereas your business probably has specialist expertise in a particular field or technology, your partner will have deep local knowledge […]
When you’re expanding a business to a new country, how you take the business into that new international market can make or break the venture. This might sound like a bold claim, but I really believe that the mode of market entry that you choose can have a dramatic impact on how well you do […]
At the International Business Accelerator, I recently taught a workshop with my colleague, Peter Evans on choosing the right international market for your business to expand to. This is a big topic and an important one, because if you get your choice of market wrong, it can have serious implications for the success of your […]
If you’re part of a small or medium-sized company (SME) which is looking to grow, the thought of expanding your business overseas might excite you. Or terrify you. Or both. Either way, when you consider the time, resources and energy involved in launching a new venture in a new country, it can be a daunting […]