Overseas expansion is increasingly vital for today’s technology entrepreneurs. Language barriers, time zone gaps, local socio-economic conditions, cultural mores and regional market dynamics make globalization a tricky set of obstacles to face. Many experts agree that it is largely intangible resources such as vision, drive and the willingness to take risks that contribute to success. However, just as key is a complete understanding your overall global strategy regardless of where you are in the process.
There’s so much to learn when it comes to globalization. Understanding what it takes to expand into your target markets requires much more than simply knowing the product and culture. There will be time delays, costs and a varying number of procedures to manage regardless of where you choose to expand. Each country has its own obstacles and process facing companies looking to settle there, and learning early on which markets will have the least obstacles can make life easier in the long run.
Far too many companies either underestimate the operating costs in an international market, or underestimate the time it takes to develop and deploy a globalization strategy. While entrepreneurs must be careful with their hard earned capital, it’s never too early to begin to think about stretching out overseas. The advice we often offer entrepreneurs looking towards Europe and the Middle East is be bold. The costs of doing business abroad have recently fallen and it might be the right time for your company to take advantage of new markets.
At Accelerate-IT, we’ve successfully taken several software companies into international markets. We are masters of dealing with market analysis, market sequencing, localization, setting up distribution channels, solidifying strategic partners, securing early customer references and other complex factors that come with expanding into uncharted territories. If you’re looking to create a global presence with real staying power, we can help drive this effort with an eye towards capital efficiency, and without creating downstream complications and liabilities for your enterprise.