These are very exciting times for energetic entrepreneurs. No longer are companies confided by geography. With the rise of globalization and the Internet, companies from all over the world can enter the international market. This means a greater chance of success, and it is a real leg up for young companies that are trying to gain a foothold in a competitive business environment. Here a look at five key strategies for young companies looking to enter the global marketplace.
1. Do the Research
No company will have success in the global marketplace unless they do the proper research beforehand. This research is made easy with resources like the US Commercial Service, which is the branch of the Commerce Department that promotes US exports. The US Commercial Service has offices in countries all over the globe that can give small business owners useful information about the demand for products in their particular countries.
2. Website
Once a young company has a website up and running, they have instantly positioned themselves in the global marketplace. No matter where in the world your business is located, you can sell to customers everywhere if you have a presence online. Make sure to do the right marketing to ensure that foreign customers are being exposed to your online presence.
3. Hit the Road
Once you have identified countries that have a demand for your product, the best way to sell it is to hit the road. Book a flight and head to the country where you want to sell your goods. Once you are actually in the country, it becomes much easier to establish a presence there. This kind of groundwork is crucial for young companies who are trying to gain brand recognition in a cluttered international market.
4. Distribution
Once you have spent some time in a foreign market, you will be able to find distributors who want to sell your product. Having a distributor in the country to handle the sales is the most stress-free way for small businesses to expand their international sales.
5. Get Your Product on Amazon
One of the best ways to reach a huge international marketplace is to sell with a company that has a huge share of the online market. No company has more of an online presence than Amazon. It is easy for young companies to process their payments on Amazon with a cheap amazon integration company. Once you start to sell products on Amazon, you will be amazed at how fast your sales grow.