4 Tasks You Should Outsource On Your International Expansion
One of the first steps in an International Expansion process is a company assessment to figure out the real resources we have, about production capacity, finance, structure and human capital. Human capital is an interesting one, because if we want to succeed in the international markets we’ll need people with specific international skills to lead the company in that journey.
Delegating the whole process to your staff is a common mistake I see frequently with my clients, this is typically motivated by two factors:
- Lack of investment: the biggest mistake is trying to do an International expansion low cost. That’s just not realistic.
- Unspecialised staff: I don’t want to go deeper into this, but my experience say that some professionals are very experienced in one field in their local market, but doesn’t imply they have the ability to apply that knowledge to other markets without some specialise support.
International Market Research
It is a crucial part of any international expansion plan, a good market research can save us time and money and put the company in the right direction. But not everybody is qualified to do a proper international market research, you need a deep knowledge in market research and a deep knowledge of the target market.
The common mistake that companies do here is to delegate this task to the business developer person or to the marketing manager which doesn’t mean they already know the market where the company want to be in. Of course, is not enough to do a market research based on an internet search on google.
My advice, find a good local specialist and invest in doing a deep research that gives you a crystal clear vision of the market, this is the first step to identify risk, opportunities, market size, trends and much more that indicates the time and investment you will need on the execution.
To have a good legal advice is always a must in any business but going abroad is essential. You will need distribution contracts, agents, joint ventures, alliance and a lot other situations that require an international legal expert supervision.
The typical mistake in this step is to find on the internet a template and customise for our needs or use an old contract from other case and adapt to the new situation, both are not good ideas.
Another common mistake is to manage the logistics in any case, that looks such an easy task when our staff have been doing the same in our local market and maybe in other international market, but it’s essential to have specialised support in that new market route before we can do it by our owns.
Different customs rules, taxes, documents and requirements may be needed and expend a bit of money now can you make save a lot of money later.
Translate and design your marketing material
That’s probably the most common mistake after the international market research because almost everybody can get access to design tools like Photoshop, Illustrator or any other alternative to modification our marketing material in our original language. The true is that if you are not a professional designer the result is not going to be good and the client you are pretending to impress in the other corner of the world have plenty of local options to do business before pay attention in to a foreign company with an uncertain corporative image.