It's the big dream – having an international market and selling your goods and services further afield. It's not an easy task, however, and there are pitfalls to avoid at all cost.
Many business owners dream of breaking into at least one overseas market. It's an alluring and potentially lucrative prospect, but there are dangers which need to be avoided. You need to ask yourself if you have the time and cash flow to dedicate to this difficult new venture. Breaking into a foreign market is no easy task, as anyone who has managed it will tell you.
The first thing you must do is decide which market to target. While you might have found a gap in the market in your own country, does that same gap exist elsewhere? Is there enough demand for your products or services? These early questions require you to really do your homework and establish contacts on the ground who can offer advice.
You also need to think about how your existing marketing might go down, because it may not be translatable. You will need to be extremely cautious about cultural differences. Even the big players fall foul. Dolce & Gabanna famously ran a video campaign in China which featured a Chinese woman struggling to eat pizza with chopsticks. The offensive campaign forced the company to take the video down in under 24 hours.
Remember, these things don't happen overnight, so hold your long-term goals front of mind from day one. The best way to put down roots overseas is to build strong relationships with the local market. Talk to people, hold forums, carry out surveys – get to know what people want and listen to them. The key to success is doing your research before you take the plunge.
Ensure you have the time and money
Make sure there's enough demand
Establish contacts, talk to people
Assess your current marketing
Be aware of cultural differences
