Any company that is eager to grow has a very good chance of becoming a global company. Many organisations can operate in the cloud, which means they can operate anywhere in the world. However, not all industries can solemnly be based in the Cloud, but that should not stop an organisation to still have a realistic percentage of their services available on a global basis.
The key is to start thinking about potential customers, partners and countries around the globe that can help your company grow. For a business to sustain itself on a global scale, it needs team members that understand the brand. This bottom-up approach enables key developments to stay constant across cultures.
Nathan Resnick, CEO of Sourcify provided us with some helpful tips:
Develop firm foundations If you’re thinking of expansion, ask yourself if your company has a solid local foundation first. Do you have enough resources and a solid local crew to juggle an overseas venture while maintaining your current customer base? With a solid team, you can forge a strong vision to ensure you have the financial and structural stability locally and in due time set sights for expansion globally.
Expand your vision Asia is one of the fastest growing economies, this has opened up many new markets for ventures seeking global expansion. Singapore has ranked world’s second-best business heaven in PWC Cities of Opportunities report. Singapore was ranked highly because of its economic and social indicators such as technological readiness, ease of doing business, demographics and liveability.
Consult global experts Having an overseas local expert is crucial when it comes to business expansion. Products or services that works well locally may not have the same appeal overseas. That is why it is important to consult a local expert.
Penetrate markets effectively Establishing yourself in a different country, usually comes with a hefty cost. However, if you begin to penetrate the market with your brand by using the right technology and marketing strategy to bring about a local brand presence, like utilising social media, you can reach a global coverage without actually going through the bureaucratic hassle of incorporation in that country as well as save yourself a lot of money.
Choosing the right strategies to expand globally depend on the type of business you own. Global expansion requires time and appropriate business assessment before moving forwards.
Synergy Consulting Australia is specialising in providing you with a realistic global strategic plan. Save yourself time and money and let us assist you with all your business growth requirements.
We provide a large range of business consulting services which includes Legal, Accounting, Marketing, Project Management, Migration services and many more tailored business solutions. This also includes a full market research and feasibility report before investing. www.synergyaustralia.com.au
Synergy Consulting Australia is led by Ilona Solinska. Ilona has over 17 years’ international business consulting experience. She is a successful business growth strategist, Keynote speaker and writer. She has coached hundreds of businesses in the area of Marketing, Finance, Legal, Compliance, Operation, Change & Project Management and is a highly sought-after presenter on a wide variety of business topics.