It is the dream of every business owner to expand globally, but very few achieve this successfully. Big names like Google make a considerable percentage of their profit from the international markets. If you also want to generate global revenue for your business, you need to follow a strategy!
You can seek help from a business development consultancy and plan a strategic approach to grow globally. But before you jump into searching for consultancies, learn the reliable four-step approach to global expansion!
Four steps to increase international business growth
Step1: Maintain Diversity
The first and foremost step is to hire employees from different parts of the world. It will ensure that the talent you have comes from different nationalities, having vast knowledge of practices that global companies follow. This way, you can learn and implement international strategies to expand your business and thoroughly understand the market.
Step2: E-services
The Internet has made it easy to scale up globally. Even the best business development consultancy will urge beginning by providing e-services that people can access across the world. Moreover, if your business type permits, aggressively pursue e-commerce services. And don’t forget, you will need a customer support team that can provide 24x7 assistance to your customers from every corner of the world!
Step3: Global Partners
One of the effective ways to increase your global business is to collaborate with appropriate partners. Towards that goela, do a detailed market study and learn about overseas brands with which you can collaborate and expand your services. It is a challenging task to choose the right partners. If anything goes wrong, it can also dampen your brand value in the international market. Hence, it is vital to contact a business development consultancy like IBG Global LLC, and allow them to identify the potential global partners for your business.
Step4: Adapt to Global market strategy
To expand globally, the company will often need help from experts who understand both local and global markets. Plan on hiring a consultancy like IBG Global LLCwhich has experts who can help you learn the global market strategies and assist in setting up the international business.
Follow these simple steps, and you will see your business growing exponentially in the global market. If there are any doubts, seek help from a reliable business development consultancy like IBG Global LLC and reduce your risk!
About the author:
This article is written by Dan Levy from IBG Global. IBG Global is an association of private commercial consulting firms specializing in developing and executing successful market entry and international growth strategies. Since 2000, we have provided our clients with highly skilled trade and investment knowledge, fluent English and local language skills, large public and private sector networks of contacts, and an in-country presence that accelerates their entry to any market around the world. With our offices in 60 countries with access to 200 markets, we can help you reduce financial risks, remove planning obstacles, and maximize ROI.
Companies guided by solid market research are better equipped to make smarter decisions.
Outsourcing is often the most practical option, shortening project times and significantly lowering costs.The importance of conducting market researchMarket research is a process that helps businesses understand their customers and identify opportunities.
It can help your organization in the following ways:Strengthen your positionIn a saturated market, it is essential to stay ahead.
Market research helps you better understand your market and target audience, strengthening your position against strong competitors.Minimize investment risksInvesting in market research to test your ideas, products, and concepts can save you money in the long run.
Market research can involve forecasting future characteristics and trends in your target market, allowing you to focus on the most promising possibilities.Identify threats and opportunitiesThere are two types of market research: fieldwork and desk.
You can also conduct focus groups to understand the perception of customers regarding new products and services, as well as conduct surveys to gain some insight into the purchasing habits of potential customers.However, while there’s nothing wrong with doing things yourself, having experts by your side can increase your efficiency and prevent you from making rookie mistakes.
The award winners from TCA have been announced while we are days away from the much-awaited Jimmy Kimmel hosted Emmy Awards.
HBO shows have won half of the major honors.It was the 36th Annual TCA award function in which they honored, as per custom, the best TV series, and programs in the 2019-20 season.
The coming of age DC comics series Watchmen stole the night, bagging four out of eleven major awards.A CBC fan-favorite sitcom “Schitt’s Creek” created by Dan Levy and Eugene Levy is the only other contender to have won more than one award; the Canadian series bagged two awards at TCA.
Beating Netflix by miles, HBO’s other hit shows “Succession” and “A Black Lady Sketch Show” also received their due recognition making it the winner of six among all major honors at TCA.The winners were decided by voting in TCA’s network comprising more than 250 journalists across the United States and Canada.“Watchmen” won the “Program of the Year” award, and a TCA announcement that honored the HBO series said that they have singled out Watchmen in recognition of the efforts done by the production team to carve their own legacy while also staying true to the original legendary DC source material.TCA also bestowed “heritage” award upon Star Trek for the tenacity and endeavors of the production team to delineate present-day issues of bigotry, sexism, religion, politics, and human rights in a futuristic world of space wars while also sketching positive emotions of love, intrigue, and adventure.
TCA’s announcement also acknowledged Star Trek’s inclusive approach to casting an African American in a leading role (the first one to do so).The TCA also presented a career achievement award to tv icon Alex Trebek in recognition of his “unparalleled legacy as one of television’s most enduring and beloved personalities.”The President of TCA, Sarah Rodman, who is also an editor at Entertainment Weekly, said about the 2019-20 season as something that mirrors reality outside.
The content helped viewers reflect on tough times and also provided a “rabbit hole” to escape the noise and creepiness outside.Watchmen bagged four awards, which include Individual Achievement in Drama (Regina King), Outstanding New Program, Outstanding Achievement in Movie, Miniseries or Special, and Program of the Year.Another mega-hit HBO show “Succession,” starring Jeremy Strong, got the nod in Outstanding Achievement in Drama.
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