A low risk path to increasing your international revenues
It’s been a couple of years since you began developing a new product for your local market, and you are finally starting to reap the fruits of your labor. Orders are coming in! Clients are happy and referring others! Your controller is at last telling you that you are starting to bridge the gap between your books and black ink!
Heartened by your long-awaited indicators of success and encouraged by a cheap dollar overseas, you start eying international markets in hopes of further capitalizing on your recent triumphs and shrinking your path to profitability. You contemplate hiring an international consultant or signing up VARs and distributors, but quickly find out how expensive and expansive the world can be. Undeterred by the challenge ahead, you start your international offensive by strategizing and prioritizing.
Congratulations! You have taken the first step toward joining the global economy. But don’t do it unprepared. Navigating your company through treacherous international waters is not for the fainthearted, inexperienced, or ill equipped. Going international requires determination, experience, resources, and a finely tuned process to get you where you need to go.
Here is a tested approach that you can use to achieve international market penetration incrementally and judiciously. Think of it as a compass to guide you as you embark on your international journey.