There’s much to say about going international.
First of all, it’s exciting. The idea of taking your business abroad, the mere thought that one day your product could conquer the world …
Some challenges you will face and some easy takeaways that will help you get started.
(B2B software/hardware/services oriented)
➡️Accept that new markets will not treat you in the same way as the status you acquired at home. After all, you’re the new kid on the block. From a new market’s perspective, you’re just another one trying to make it there. Will you be the one to stay and worth the effort to work buy from?
➡️When you go, be humble. Show expertise, but don’t show off. Or as they would say in German 'In der Beschränkung zeigt sich erst der Meister’.
➡️Once you set foot on the grounds, you’ll very quickly realize that it’s all about people and building a network. People helping you, referring you, introducing you …
➡️Some low thresholds:
✅look at your existing customer portfolio and the countries they’re present in. A referral to a division or colleague abroad is worth a lot.
✅take contact with organizations such as Flanders Investment & Trade (FIT), the Chambers of Commerce of your home country (or other countries Netherlands-Czech Chamber of Commerce), local investment agencies AFI - Association for Foreign Investment. They often have local presence and can help you with understanding the market, organizing those first introductions, … and get on their event lists ;-)
✅ very often they’re also able to help you with people who left their home market years ago and who have been working and living there for years. Some have made it their business to introduce new companies, they’re also valuable to understand the cultural differences when doing business.
➡️dare to reconsider your ideal customer profile and it’s validity abroad. If the governments or public institutions are on your list … yes, we’re in the EU and tendering should be equal to foreign companies. But can you blame them if they feel more comfortable with the support of the local company?
➡️Embrace the unexpected opportunities and learnings. You will discover new markets, new ways of applying your solution, new partners, new competitors… the pool of technically skilled people you’ve been looking for might be at hand now. Go for quid pro quo’s, you’ll meet people looking to come to your home market.
There’s so much more to say and we’re sure the experiences are numerous.
Comentarios