We now live in a ‘global village’. Unless your business really is a purely local service, then you need to set your stall out to compete and win in that global village. You should think about doing business beyond the shores of the UK. The ‘where to compete’ element of strategy that we’ve highlighted before can’t just be in the UK.
Doing business overseas often scares companies. It shouldn’t. It’s not rocket science – it is hard work but can be very rewarding (and not just financially) High growth businesses will:
consider all the available options – exporting, overseas joint ventures, cross border licensing and franchising, selling via the internet.
visit their target overseas markets and build lasting relationships
tailor their products and services to overseas markets – learn how business is won and done overseas – and then play by their rules not ours
use the expertise and specialist advice that is available from agencies such as UK Trade & Investment, Chambers of Commerce, Export Clubs
capture the learning from doing business overseas and look to use it back in the UK
support their overseas partners, agents, distributors, licensees, train them how to sell their products and services. They don’t treat them as second class customers
care, they have the same passion for winning in overseas markets as they do in the UK